HP 12C Platinum User Manual Page 71

Financial calculator.

Keystrokes
1f!
~
1f!
~
:n
If you want to generate an amortization schedule but do not already know the
monthly payment:
1. Calculate PMT as described on page 59.
2. Press 0n to reset n to zero.
3. Proceed with the amortization procedure listed on page 69 beginning with
step 6.
Example: Suppose you obtained a 30-year mortgage instead of a 25-year
mortgage for the same principal (\$250,000) and at the same interest rate (5.25%)
as in the preceding example. Calculate the monthly payment, then calculate the
amounts applied to interest and to the principal from the first month's payment.
Since the interest rate is not being changed, do not press fCLEARG; to
calculate PMT, just enter the new value for n, reset PV, then press P.
Keystrokes
30gA
250000\$
P
0n
1f!
~
:\$
Section 3: Basic Financial Functions
Display
Portion of first payment applied to
–1,093.75
interest.
Portion of first payment applied to
–404.37
principal.
Portion of second payment applied to
–1,091.98
interest.
Portion of second payment applied to
–406.14
principal.
Total number of payments amortized.
2.00
Display
Enters n.
360.00
Enters PV.
250,000.00
Monthly payment.
–1,380.51
Resets n to zero.
0.00
Portion of first payment applied to
–1,093.75
interest.
Portion of first payment applied to
–286.76
principal.
Remaining balance.
249,713.24
71