HP 12C#ABA hp 12c_solutions handbook_English_E.pdf - Page 47
Example 2, Solving for payment amount.
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7 25 2,519.61 Future value. Example 2: Solving for payment amount. For 8 years you wish to make weekly deposits in a savings account paying 5.5% compounded quarterly. What amount must you deposit each week to accumulate $6000. Keystrokes Display CLEAR 5.5 4 0.11 Equivalent periodic interest rate. 100 52 CLEAR 8 52 6000 -11.49 Periodic payment. Example 3: Solving for number of payment periods. You can make weekly deposits of $10 in to an account paying 5.25% compounded daily (365-day basis). How long will it take you to accumulate $1000? Keystrokes Display CLEAR 5.25 365 100 52 CLEAR 8 1000 0.10 Equivalent periodic interest rate. 96.00 Weeks. 46
46
Example 2:
Solving for payment amount.
For 8 years you wish to make weekly deposits in a savings account paying
5.5% compounded quarterly. What amount must you deposit each week
to accumulate $6000.
Example 3:
Solving for number of payment periods.
You can make weekly deposits of $10 in to an account paying 5.25%
compounded daily (365-day basis). How long will it take you to
accumulate $1000?
7
25
2,519.61
Future value.
Keystrokes
Display
CLEAR
5.5
4
100
52
CLEAR
0.11
Equivalent periodic interest rate.
8
52
6000
-11.49
Periodic payment.
Keystrokes
Display
CLEAR
5.25
365
100
52
CLEAR
0.10
Equivalent periodic interest rate.
8
1000
96.00
Weeks.