HP 17BIIPLUS Owner's Manual page 68

Keys:
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.
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v
3 * 12
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10.5 U
v
7250 - 1500
V
W
To calculate the interest rate that reduces the payment by $10, add 10
to reduce the negative PMT value.
v
+ 10 W
U
Example: A Home Mortgage. After careful consideration of your
personal finances, you've decided that the maximum monthly mortgage
payment you can afford is $630. You can make a $12,000 down
payment, and annual interest rates are currently 11.5%. If you take out
a 30-year mortgage, what is the maximum purchase price you can
afford?
68 5: Time Value of Money
Display:
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Description:
Displays TVM menu.
Clears history stack and
TVM variables.
If needed: sets 12
payment periods per year;
End mode.
Figures and stores number
of payments.
Stores annual interest rate.
Stores amount of the loan.
Calculates payment.
Negative value means
money to be paid out.
Stores the reduced
payment amount.
Calculates the annual
interest rate.