HP 10bII+ User Manual page 72

Table 6-3 Calculating the interest rate
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If interest is 10.5%, what is the maximum you can spend on the car to lower your car payment
to 375.00?
Table 6-4 Calculating the amount
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Example: A Home Mortgage
You decide that the maximum monthly mortgage payment you can afford is 930.00. You can
make a 12,000 down payment, and annual interest rates are currently 7.5%. If you obtain a
30 year mortgage, what is the maximum purchase price you can afford?
64 Time Value of Money Calculations
Display
-372.53
2.03
Display
10.50
-375.00
1 1,537.59
13,037.59
Figure 8 Cash flow diagram (Calculate PV)
Description
Decreases payment from 422.53.
Calculates annual interest rate for
the reduced payment.
Description
Stores original interest rate.
Stores desired payment.
Calculates amount of money to
finance.
Adds the down payment to the
amount financed for total price
of the car.