# HP 12C Loan Amortizations

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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:

12 f!

Figure 7

This is the total interest paid after two years. To see the part of the principal that is paid, press:

~

Figure 8

To check the loan balance after one year, press:

:$

Figure 9

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

th

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:

fG gĂ—

Set the relevant TVM values and calculate PMT:

10.2 gC 4 gA 12500 $ 0 M P

Figure 10

To amortize the 10

th

payment it is necessary to amortize the first nine payments and then amortize the 10

th

separately:

0 n 9 f! 1 f!

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## HP 12C Loan Amortizations PDF

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