HP 17bll+ User Manual page 69

Keys:
 
@c

@c
e
30 
@
11.5 
630
&


12000
v + =
Example: A Mortgage with a Balloon Payment. You've taken out a
25-year, $75,250 mortgage at 13.8% annual interest. You anticipate
that you will own the house for four years and then sell it, repaying the
loan in a "balloon payment." What will be the size of your balloon
payment?
Display:

    Clears history stack and

   






Description:
Display TVM menu.
TVM variables.
If needed: sets 12 payment
periods per year; End
mode.
Pressing first multiplies
@
30 by 12, then stores this
number of payments in N.
Stores annual interest rate.
Stores a negative monthly
payment.
Calculates loan amount.
Calculates total price of the
house (loan plus down
payment).
5: Time Value of Money 69