HP 12C Platinum User Manual page 214

214 Section 14: Leasing
7. For a new case, return to step 2. The values changed from the previous case
are the only values which need to be re-entered.
Example 1: A copier worth $22,000 is to be leased for 48 months. The lessee
has agreed to make 4 payments in advance, with a purchase option at the end of
48 months enabling him to buy the copier for 30% of the purchase price. What
monthly payment is necessary to yield the lessor 15% annually:
Keystrokes Keystrokes
(RPN mode) (ALG mode)
f] f[
48?0 48?0
15\ 15z
12z?1 12³?1
22000?2 22000?2
30b?3
§30b³?3
4?4t 4?4t
Example 2: Using the information from example 1, what would the monthly
payments be if the lessor desired a yield of 18% annually ?
Keystrokes Keystrokes
(RPN mode) (ALG mode)
18\12z 18z12³
?1t ?1t
Display
Duration of lease.
48.00
15.00
Monthly interest rate.
1.25
22,000.00
6,600.00
Monthly payment received
487.29
by lessor.
Display
From previous example.
487.29
Monthly interest rate.
1.50
Monthly payment received
520.81
by lessor.