Compound Interest; Amortization - HP 12C User Manual

Compound Interest

Without an odd period:
=
0 PV
With simple interest used for an odd period:
=
0 PV
FV
With compound interest used for an odd period:
=
0 PV
FV

Amortization

INT
PRN
PV
INT
PRN
PV
INT
PRN
PV
∑
INT
∑
PRN
=
PV PV
n
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
⎡
− +
1 1 ( i
+ + ⋅ ⋅
1 ( iS ) PMT ⎢
⎢ i
⎣
+ + +
1 [ i FRAC( n ] ) 1 ( iS ) PMT
−
+ INTG ( n )
1 ( i )
+ FRAC( n ) + +
1 ( i ) 1 ( iS ) PMT
−
+ INTG ( n )
1 ( i )
n = number of payment periods to be amortized.
= amount of PMT applied to interest in period j.
j
= amount of PMT applied to principal in period j.
j
= present value (balance) of loan after payment in period j.
j
j = period number.
= {0 if n = 0 and payment mode is set to Begin.
1
|PV × i| (sign of PMT)
0 RND
= PMT – INT
1 1
= PV + PRN
1 0 1
= |PV × i| × (sign of PMT) for j > 1.
j j –1 RND
= PMT – INT
j j
= PV + PRN
j j –1 j
n
∑
= = + +
INT INT INT
j 1 2
=
j 1
n
∑
= = +
PRN PRN PRN
j 1
=
j 1
∑
+
PRN
0
Appendix E: Formulas Used
− ⎤
n
)
−
+ + n
⎥ FV 1 ( i )
⎥
⎦
⎡ − ⎤
INTG( n )
− +
1 1 ( i )
+
⎢ ⎥
⎢ i ⎥
⎣ ⎦
⎡ − ⎤
− + INTG( n )
1 1 ( i )
+
⎢ ⎥
i
⎢ ⎥
⎣ ⎦
+
... INT
n
+ +
... PRN
n
2
Page: 251 of 275
Dimension: 14.8 cm x 21 cm
251