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HP 12C Platinum User Manual Page 208

Financial calculator.
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208 Section 14: Leasing
Example 2: Using the preceding program, solve for the monthly payment using
the information given in example 1. Then change the yearly interest to 15% and
solve for the new payment amount.
Keystrokes
Keystrokes
(RPN mode)
(ALG mode)
f]
f[
12?0
12?0
3?1
3?1
10\12z
10z12³
?2
?2
750?3t
750?3t
15\12z
15z12³
?2t
?2t
Example 3: Using the information from example 1, what monthly payment is
necessary to yield the lessor 15% annually if one payment is due at the time of
closing ?
Assuming that the previous example was just solved, the keystrokes are as follows:
Keystrokes
Keystrokes
(RPN mode)
(ALG mode)
1?1t
1?1t
Since this problem is an annuity due situation (one payment at the beginning of the
period) the calculation could also be done as follows:
Keystrokes
Keystrokes
(RPN mode)
(ALG mode)
fCLEARG
fCLEARG
12n
12n
15gC
15gC
750Þ$P 750Þ$P
Display
Duration of lease.
12.00
Number of advance
3.00
payments.
0.83
Periodic interest rate.
0.83
Monthly payment to be
64.45
received.
1.25
Monthly payment to
65.43
achieve a 15% yield.
Display
Monthly payment to be
66.86
received.
Display
Duration of lease.
12.00
Periodic interest rate (into i).
1.25
Monthly payment to be
66.86
received.

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