HP 17BIIPLUS Owner's Manual page 69

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1
Keys:
" ] !
@c
. @c
e
30 @ T
11.5 U
630 &
W
V
+ 12000 =
v
Example: A Mortgage with a Balloon Payment. You've taken out a
25-year, $75,250 mortgage at 13.8% annual interest. You anticipate
that you will own the house for four years and then sell it, repaying the
loan in a "balloon payment." What will be the size of your balloon
payment?
0
11.5
30
X
12; End mode
2
_ 630
Display:
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5: Time Value of Money
12
359 360
Description:
Display TVM menu.
TVM variables.
If needed: sets 12 payment
periods per year; End
mode.
Pressing @ first multiplies
30 by 12, then stores this
number of payments in N.
Stores annual interest rate.
Stores a negative monthly
payment.
Calculates loan amount.
Calculates total price of the
house (loan plus down
payment).
69