Savings Calculations - HP -18C Owner's Manual

12 "
PAYMENTS: 1-12
Calculates the amortiza-
BALANCE=64 ., 788 , 52
tion schedule for the first
INTEREST=-8 , 113 , 16
12 payments.
PRINCIPAL=-211,48
PAYMENTS: 13-24
BALANCE=64,549 , 03
INTEREST=-8,085 ,1 5
PRINCIPAL=-239,49
Displays the amount ap-
plied toward the
principal for payments 1
through 12.
Calculates the amortiza-
tion schedule for the next
12 payments.
Displays the amount ap-
plied toward the
principal for payments 13
through 24 .
Part 2: To calculate the balance after 31fz years (42 payments), amor-
tize 18 additional payments (42 - 24
=
18):
18 "
PAY~1ENTS: 25-42
BALANCE=64,129,05
INTEREST=
-12 , 066,98
Savings Calculations
Calculates the amortiza-
tion schedule for the next
18 months.
The following examples illustrate two common savings calculations.
Example: A savings account. You deposit $2,000 into a savings ac-
count that pays 7.2% annual interest, compounded annually. If you
make no other deposits into the account, how long will it take for the
account to contain $3,000?
4: Time Value of Money 69