HP 17bll+ User Manual page 277

adjust the mortgage amount to reflect the points paid (PV = $60,000
－ 2%). All other values remain the same (term is 30 years; no future
value).
Keys:
 

@c
e

30 @
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11.5
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60000

0


R
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2 %-

Example: Loan from the Lender's Point of View. A $1,000,000
10-year, 12% (annual interest) interest-only loan has an origination fee
of 3 points. What is the yield to the lender ? Assume that monthly
payments of interest are made. (Before figuring the yield, you must
calculate the monthly PMT = (loan x 12%) ÷ 12 mos.) When calculating
the I%YR, the FV (a balloon payment) is the entire loan amount, or
$1,000,000, while the PV is the loan amount minus the points.
Display:
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F: RPN: Selected Examples 277
Description:
If necessary, sets 12
payments per year and
End mode.
Figures and stores number
of payments.
Stores interest rate and
amount of loan.
No balloon payment, so
future value is zero.
Borrower's monthly
payment.
Stores actual amount of
money received by
borrower into PV.
Calculates APR.