HP 12C#ABA hp 12c_solutions handbook_English_E.pdf - Page 38
current interest rate is 14%, what is the monthly payment necessary to, A bulldozer worth $100
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8. Key in the loan amount and press 0 to obtain the monthly payment amount when the payment is made at the end of the month. 9. Press 0 1 . 10. Key in the annual interest rate as a percent and press to find the monthly payment amount when the payment is made at the beginning of the month. Example: A bulldozer worth $100,000 is being purchased in September. The first payment is due one month later, and payments will continue over a period of 5 years. Due to the weather, the machinery will not be used during the winter months, and the purchaser does not wish to make payments during January, February, and March (months 4 thru 6). If the current interest rate is 14%, what is the monthly payment necessary to amortize the loan? Keystrokes Display CLEAR 3 14 1 12 0 3 1 0 0 0 12 100 3.00 Number of payment made before a group of payments is skipped. 0 3,119.98 Monthly payment in arrears. CLEAR 5 100000 0 37