HP 12C Platinum Owner's Handbook Manual page 48

50 Section 3: Basic Financial Functions
Example 1: In Example 1 on page 48, we calculated that the payment amount on
a 29-year, $43,400 mortgage at 14Ľ% 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
gÂ
M
Example 2: If you deposit $50 a month (at the beginning of each month) into a
new account that pays 6Ľ% annual interest compounded monthly, how much
will you have in the account after 2 years?
Display
Calculates and stores n.
60.00
Calculates and stores i.
1.19
43,400.00 Stores PV.
Stores PMT (with minus sign for
–523.99
cash paid out).
Sets payment mode to End.
–523.99
–42,652.37 Amount of balloon payment.