HP -18C Owner's Manual page 70

To start the amortization schedule over from payment #1, press
.1
CLEAR ALL
I
and proceed starting at step #10.
Amortization calculations use values of PV, PMT, and INT rounded to
the number of decimal places specified by the current display setting.
(All 12 digits of 1% YR are used.) However, the stored values of PV
and PMT do not change.
Example: Amortization schedule for a home mortgage. Part 1.
To purchase your new home, you have taken out a 30-year, $65,000
mortage at 12.5% annual interest. Your monthly payment is $693 .72 .
Calculate the amount of the first year's and second year's payments
that are applied toward principal and interest.
Part 2. Calculate the loan balance after 3lJ2
years.
Starting from the
MAIN
menu:
Keys:
.. -
.1
CLEAR ALL
I
12.5 _
65000 "
693.72
~
...
IiIID
. 1
CLEAR ALL
I
Display:
0,00
I~:YR=12,
50
PV=65., 000 , 00
PMT=-693,72
12 Pt1TS/YR: END
t'10DE
68 4: Time Value of Money
Description:
Displays the
TVM
menu .
Clears the history stack
and the
TVM
variables.
Stores the annual interest
rate.
Stores the amount of the
loan.
Stores the monthly
payment.
Displays the secondary
TVM
menu.
Sets 12 payments per
year, End mode.
Displays the
AMRT
menu.