Graduated Payment Mortgage; Skipped Payments - HP 12c Platinum Reference Manual
Hp 12c platinum: reference guide
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Also See for 12c Platinum:
- User manual (288 pages) ,
- Owner's handbook manual (213 pages) ,
- Solutions handbook (166 pages)
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=
Rebate
BAL
= (n − k) × PMT − Rebate
k
Graduated Payment Mortgage
n = total number of payments in the loan
I = interest rate per payment period, as a decimal
A = number of payments per year
B = number of years that payments increase
C = percentage increase in periodic payments (as a decimal)
PMT
= amount of the first payment
1
PV = amount of the loan.
=
PV
PMT
where:
+
1
C
=
Q
(
+
1
I
Skipped Payments
A = number of payments per year.
B = number of years.
C = annual percentage rate as decimal.
D = periodic payment amount.
E = loan amount.
K = number of last payment before payments close the first time.
L = number of skipped payment.
=
D
END
=
D
BEGIN
(
)
−
n
k
I
k
2
(
)
−
A
−
+
1
1
I
1
I
−
1
)
A
E
×
− AB
C
−
+
1
1
A
D
END
C
+
1
A
k
(
+
1
(
)
B
+
−
1
Q
1
+
Q
+
1
A
C
C
+
−
+
1
1
A
A
Appendix B 157
(
)
−
−
(
n
AB
−
+
1
1
I
)
B
C
I
(
)
AB
+
1
I
A
C
C
−
1
A
A
−
−
−
A
K
A
L
C
+
+
1
A
)
K
−
1
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