HP HP12C hp 12c_user's guide_English_E_HDPMBF12E44.pdf - Page 48

48 Section 3: Basic Financial Functions Calculating the Future Value 1. Press fCLEARG to clear the financial registers. 2. Enter the number of payments or periods, using n or A. 3. Enter the periodic interest rate, using ¼ or C. 4. Enter either or both of the following: z Present value, using $. z Payment amount, using P. Note: Remember to observe the cash flow sign convention. 5. If a PMT was entered, press g× or g to set the payment mode. 6. Press M to calculate the future value. Example 1: In Example 1 on page 46, we calculated that the payment amount on a 29-year, $43,400 mortgage at 141/4% annual interest is $523.99. If the seller requests a balloon payment at the end of 5 years, what would be the amount of the balloon? Keystrokes fCLEARG 5gA 14.25gC 43400$ 523.99ÞP g M Display 60.00 Calculates and stores n. 1.19 Calculates and stores i. 43,400.00 Stores PV. -523.99 Stores PMT (with minus sign for cash paid out). -523.99 Sets payment mode to End. -42,652.37 Amount of balloon payment. File name: hp 12c_user's guide_English_HDPMBF12E44 Printered Date: 2005/7/29 Page: 48 of 209 Dimension: 14.8 cm x 21 cm