HP HP12C hp 12c_user's guide_English_E_HDPMBF12E44.pdf - Page 153

Section 14: Leasing 153 Example 2: Using the preceding program, solve for the monthly payment using the information given in example 1. Then change the yearly interest to 15% and solve for the new payment amount. Keystrokes 12?0 3?1 10\12z ?2 750?3t Display 12.00 3.00 0.83 64.45 Duration of lease. Number of advance payments. Periodic interest rate. Monthly payment to be received. 15\12z ?2t 65.43 Monthly payment to achieve a 15% yield. Example 3: Using the information from example 1, what monthly payment is necessary to yield the lessor 15% annually if one payment is due at the time of closing? Assuming that the previous example was just solved, the keystrokes are as follows: Keystrokes 1?1t Display 66.86 Monthly payment to be received. Since this problem is an annuity due situation (one payment at the beginning of the period) the calculation could also be done as follows: Keystrokes g× Display fCLEARG 12n15gC 750Þ$P 1.25 66.86 Periodic interest rate (into i). Monthly payment to be received. File name: hp 12c_user's guide_English_HDPMBF12E44 Printered Date: 2005/7/29 Page: 153 of 209 Dimension: 14.8 cm x 21 cm