HP -22S Owner's Manual page 135

I = the periodic interest rate, expressed as a percent.
N = the total number of payments or compounding periods.
P
=
amount of each periodic payment. Payments occur at the end
of each period.
Example: A Mortgage. You've decided that the maximum monthly
mortgage payment you can afford is $630. You can make a $12,000
down payment, and the annual interest rate
is
11.5%. If you take out
a 30-year mortgage, what is the maximum purchase price you can
afford?
B=?
Keys:
.1
DISP! {FX} 2
.1
SOLVE! {8}
630
ElJ
1 INPUT !
11.50121INPUT!
o
1 INPUT
I
P=-630
Display:
P?value
I
?value
F?value
N?value
+
359
+
360
+
Description:
Sets display to two
decimal places.
Selects B, prompts for
P.
Stores P, prompts for I.
Stores I, prompts for F.
Stores F, prompts for
N.
8: Additional Examples 135