HP 12C Loan Amortizations
hp calculators - 4 - HP 12C Loan Amortizations - Version 1.0
Now it is necessary to input the number of payments to be amortized. In this example, twelve more
payments must be amortized to calculate the second year:
This is the total interest paid after two years. To see the part of the principal that is paid, press:
To check the loan balance after one year, press:
Answer: After two years, the loan balance is $176,713.49. The amount of principal repaid is $1,706.69 and the
amount of interest paid is $13,767.79.
Example 3: Amortize the 10
payment of a 4-year car loan. The loan amount is $12,500 and the interest rate is 10.2%,
compounded monthly. Assume monthly payments starting immediately.
Solution: Clear the TVM registers contents to zero and set BEGIN mode:
Set the relevant TVM values and calculate PMT:
10.2 gC 4 gA 12500 $ 0 M P
To amortize the 10
payment it is necessary to amortize the first nine payments and then amortize the 10
0 n 9 f! 1 f!