HP 12C User Manual page 160

160 Section 12: Real Estate and Lending
Keystrokes
(RPN mode)
9gC
137.17P
*
2000M$
Example 2: A 6.5% mortgage with 26 years remaining and a remaining
balance of $249,350 is available for purchase. Determine the price to pay for this
mortgage if the desired yield is 12%. (Since the payment amount is not given, it
must be calculated.)
Keystrokes
(RPN mode)
f]
gÂ
fCLEARG
26gA
6.5gC
249350Þ$
P
12gC
$
*
Note that the payments are positive because this problem is in seen from the viewpoint of the
lender who will be receiving payments. The negative PV indicates money that was lent out.
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Keystrokes
Display
(ALG mode)
0.75
gC
9
P *
137.17
137.17
–8,777.61
M$
2000
Keystrokes
Display
(ALG mode)
f[
gÂ
fCLEARG
312.00
26gA
0.54
6.5gC
249350Þ$
P 1,657.97
1.00
12gC
$
–158,361.78
Page: 160 of 275
Dimension: 14.8 cm x 21 cm
Discount rate (into i).
Monthly payments (into
PMT).
Amount necessary to
prepay the note.
Months (into n).
Percent monthly interest
rate (into i).
Monthly payment to be
received (calculated).
Desired monthly interest
rate (into i).
Purchase price to achieve
the desired yield
(calculated).