HP HP12C hp 12c_user's guide_English_E_HDPMBF12E44.pdf - Page 40
Example 1, Keystrokes, Display
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40 Section 3: Basic Financial Functions If the answer calculated is not an integer (that is, there would be nonzero digits to the right of the decimal point), the calculator rounds the answer up to the next higher integer before storing it in the n register and displaying it.* For example, if n were calculated as 318.15, 319.00 would be the displayed answer. n is rounded up by the calculator to show the total number of payments needed: n-1 equal, full payments, and one final, smaller payment. The calculator does not automatically adjust the values in the other financial registers to reflect n equal payments; rather, it allows you to choose which, if any, of the values to adjust.† Therefore, if you want to know the value of the final payment (with which you can calculate a balloon payment) or desire to know the payment value for n equal payments, you will need to press one of the other financial keys, as shown in the following two examples. Example 1: You're planning to build a log cabin on your vacation property. Your rich uncle offers you a $35,000 loan at 10.5% interest. If you make $325 payments at the end of each month, how many payments will be required to pay off the loan, and how many years will this take? Keystrokes fCLEARG 10.5gC 35000$ 325ÞP g n Display 0.88 Calculates and stores i. 35,000.00 Stores PV. -325.00 -325.00 328.00 Stores PMT (with minus sign for cash paid out). Sets the payment mode to End. Number of payments required. * The calculator will round n down to the next lower integer if the fractional portion of n is less than 0.005. † After calculating n, pressing ¼, $, P, or M will recalculate the value in the corresponding financial register. File name: hp 12c_user's guide_English_HDPMBF12E44 Printered Date: 2005/7/29 Page: 40 of 209 Dimension: 14.8 cm x 21 cm