Determining Number Of Periods: Solving For N; Loan With A Balloon Payment; V12 Manual - Victor V12 Owner's Manual

Touch r BEG or r END to select payment function
Touch FV to calculate the future value
Example
ENTRIES (RPN) DISPLAY
0.00
b FIN
Clears the financial registers.
360.00
360 n. Displays 360 months for a 30 year
loan.
0.50
6 r i. Displays the interest rate of 6% per
year or 0.5% per month.
400.000.00
400000 PV Displays the loan amount or present
value.
-2,397.20
Displays the monthly payment.
2397.202 CHS PMT
Notice the amount is reduced by $1
from previous examples.
-1,004.62
Displays the amount still owed at the
FV end of the loan period. In this
example, the payments over 30
years did not pay off the entire loan.
Determining Number of Periods: Solving for
To determine the number of compounding periods and the
number of payments:
Touch b CLEAR FIN to reset financial registers
Use i or r 12÷ to enter periodic interest rate.
Enter values for PV(present value), PMT (amount of
payment), FV (future value)
Select payment function by touching r BEG or
END
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V12 Manual

Touch n to calculate number of periods or payments
Example
ENTRIES (RPN)
b FIN
6 r i.
400000 PV
2398.202 CHS PMT
n.

Loan With a Balloon Payment

A common transaction is a loan with a balloon payment. In this
case, the borrower makes a fixed payment each period until the
end of the loan term. At the end of the term, the borrower makes
one large final payment. The example below illustrates a
$400,000 loan, at 6% annual interest paid monthly for 30 years
with a balloon payment of $70,000.
Example
ENTRIES (RPN)
n.
b FIN
360 n.
6 r i.
r.
DISPLAY
0.00
Clears the financial registers.
0.50
Displays the interest rate of 6% per
year or 0.5% per month.
400.000.00
Displays the loan amount or present
value.
-2,398.20
Displays the monthly payment.
360.00
Displays the number of periods
(months) required to pay off the loan.
DISPLAY
0.00
Clears the financial registers.
360.00
Displays 360 months for a 30 year
loan.
0.50
Displays the interest rate of 6% per
year or 0.5% per month.
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