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Calculating The Payment Amount - HP 12C Platinum User Manual

Financial calculator.
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Calculating the Payment Amount

1. Press fCLEARG to clear the financial registers.
2. Enter the number of payments or periods, using n or gA.
3. Enter the periodic interest rate, using ¼ or gC.
4. Enter either or both of the following:
Present value, using $.
Future value, using M.
5. Press g× or g to set the payment mode.
6. Press P to calculate the payment amount.
Example 1: Calculate the payment amount on a 29-year, $243,400 mortgage
at 5.25% annual interest, compounded monthly.
Keystrokes
fCLEARG
29gA
5.25gC
243400$
P
Section 3: Basic Financial Functions
Note:
cash flow sign convention.
Display
348.00
Calculates and stores n.
Calculates and stores i.
0.44
Stores PV.
243,400.00
Sets payment mode to End.
243,400.00
Monthly payment (with minus sign
–1,363.29
for cash paid out).
Remember to observe the
59

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