HP 12C User Manual page 211

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
(RPN mode)
f]
48?0
15\
12z?1
22000?2
30b?3
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
(RPN mode)
18\12z
?1t
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Keystrokes
Display
(ALG mode)
f[
48.00
48?0
15.00
15z
1.25
12³?1
22,000.00
22000?2
§30b³?3 6,600.00
487.29
4?4t
Keystrokes
Display
(ALG mode)
487.29
1.50
18z12³
?1t 520.81
Page: 211 of 275
Dimension: 14.8 cm x 21 cm
Section 14: Leasing 211
Duration of lease.
Monthly interest rate.
Monthly payment received
by lessor.
From previous example.
Monthly interest rate.
Monthly payment received
by lessor.