HP HP12C hp 12c_user's guide_English_E_HDPMBF12E44.pdf - Page 157

Section 14: Leasing 157 n: Used. FV: Residual R3: Residual REGISTERS i: Interest PV: Used R0: # Pmts (n) R4: # Adv. Pmt. R1: Interest. R5: Used PMT: -1. R2: Loan. R6-R.6: Unused 1. Key in the program. 2. Key in the total number of payments then press ?0. 3. Key in or calculate the periodic interest rate then press ?1. 4. Key in the loan amount then press ?2. 5. Key in the residual value then press ?3. 6. Key in the total number of payments made in advance then press ?4. Then press t to obtain the payment amount received by the lessor. 7. For a new case, return to step 2. The values changed from the previous case are the only values which need to be re-entered. Example 1: A copier worth $22,000 is to be leased for 48 months. The lessee has agreed to make 4 payments in advance, with a purchase option at the end of 48 months enabling him to buy the copier for 30% of the purchase price. What monthly payment is necessary to yield the lessor 15% annually: Keystrokes 48?0 15\ 12z?1 22000?2 30b?3 4?4t Display 1.25 Monthly interest rate. 487.29 Monthly payment received by lessor. File name: hp 12c_user's guide_English_HDPMBF12E44 Printered Date: 2005/7/29 Page: 157 of 209 Dimension: 14.8 cm x 21 cm