HP 113394 User Guide - Page 160
Keystrokes, RPN mode, ALG mode, Display, Example 2
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160 Section 12: Real Estate and Lending Keystrokes (RPN mode) 9gC 137.17P* 2000M$ Keystrokes (ALG mode) 9gC 137.17P* 2000M$ Display 0.75 137.17 -8,777.61 Discount rate (into i). Monthly payments (into PMT). Amount necessary to prepay the note. Example 2: A 6.5% mortgage with 26 years remaining and a remaining balance of $249,350 is available for purchase. Determine the price to pay for this mortgage if the desired yield is 12%. (Since the payment amount is not given, it must be calculated.) Keystrokes (RPN mode) Keystrokes (ALG mode) Display f] f[ g fCLEARG 26gA g fCLEARG 26gA 312.00 Months (into n). 6.5gC 6.5gC 0.54 Percent monthly interest rate (into i). 249350Þ$ 249350Þ$ P P 1,657.97 Monthly payment to be received (calculated). 12gC 12gC 1.00 Desired monthly interest rate (into i). $ $ -158,361.78 Purchase price to achieve the desired yield (calculated). * Note that the payments are positive because this problem is in seen from the viewpoint of the lender who will be receiving payments. The negative PV indicates money that was lent out. File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 160 of 275 Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm