# HP 12C Platinum User Manual Page 67

Financial calculator.

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Example 2: A 42-month loan of \$3,950 for a used car began accruing interest
on July 19, 2004, so that the first period began on August 1, 2004. Payments of
\$120 are made at the end of each month. Calculate the annual percentage rate
(APR), using the actual number of odd days and simple interest for the odd period.
Keystrokes
(RPN mode)
fCLEARG
7.192004\
8.012004
30z
42+n
3950\$
120ÞP
¼
12§
Keystrokes
(ALG mode)
fCLEARG
7.192004}
Section 3: Basic Financial Functions
Display
Clears financial registers.
Turns off the C indicator in the
display, so that simple interest will be
used for the odd period.
Keys in the date interest begins
7.19
accruing and separates it from the
next date entered.
Keys in the date of the beginning of
8.012004
the first period.
Actual number of odd days.
13.00
Divides by the length of a monthly
0.43
period to get the fractional part of n.
Adds the fractional part of n to the
42.43
number of complete payment
periods, then stores the result in n.
Stores PV.
3,950.00
Stores PMT (with minus sign for cash
–120.00
paid out).
Periodic (monthly) interest rate.
1.16
Annual percentage rate (APR).
13.95
Display
Clears financial registers.
Turns off the C indicator in the
display, so that simple interest will be
used for the odd period.
Keys in the date interest begins
7.19
accruing and separates it from the
next date entered.
67

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