HP 35s HP 35s scientific calculator - User Guide - Page 274
Part 1., B = 7
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Variables Used: N The number of compounding periods. I The periodic interest rate as a percentage. (For example, if the annual interest rate is 15% and there are 12 payments per year, the periodic interest rate, i, is 15÷12=1.25%.) B The initial balance of loan or savings account. P The periodic payment. F The future value of a savings account or balance of a loan. Example: Part 1. You are financing the purchase of a car with a 3-year (36-month) loan at 10.5% annual interest compounded monthly. The purchase price of the car is $7,250. Your down payment is $1,500. B = 7,250 _ 1,500 I = 10.5% per year N = 36 months F = 0 P = ? Keys: Display: (In RPN mode) 8 (Ø as needed P value value value Description: Selects FIX 2 display format. Displays the leftmost part of the TVM equation. Selects P; prompts for I. Converts your annual interest rate input to the equivalent monthly rate. Stores 0.88 in I; prompts for N. Stores 36 in N; prompts for F. 17-4 Miscellaneous Programs and Equations