HP 10BII Owner's Manual page 69

Keys: Display:
еа
сг]
12.00
Goes
360.00
DODOMA
7.75
CDGXOXOQOXQO(*9
180,000.00
Ow
0.00
-1,289.54
Description:
Sets payments per year.
Stores total numbcr of
payments.
Stores interest per year.
Stores present value.
Stores future value.
Calculates monthly
payment.
If you already know the mortgage payment, you can enter and store it just
like you store the other four values. Next, amortize the first year.
Enters starting and
ending periods.
Displays the PER
annunciator and range.
Displays the PRIN
annunciator and the
principal paid in the
first year.
Displays the INT
annunciator and the
interest paid in the first
year.
Displays the BAL
annunciator and the
loan balance after one
year.
The amount paid toward interest and principal (13,894.67 + 1,579.84 =
15,474.51) equals the total of 12 monthly payments (12 X 1,289.54 =
15,474.51). The remaining balance equ: als the initial mortgage, less the
amount applied toward principal (180,000 — 1,579.84 = 178,420.16).
5: Time Value of Money Calculations 69