HP 10bII+ User Manual page 74

Set to End mode. Press
Table 6-6 Calculating the monthly payment
Keys
JG\Í
GV\Ú
:É
JjGV::Ï
g7gÒ
Ì
Step 2
Since the payment is at the end of the month, the past payment and the balloon payment
occur at the same time. The final payment is the sum of PMT and FV.
66 Time Value of Money Calculations
Figure 9 Cash flow diagram (Calculate PMT)
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if BEGIN annunciator is displayed.
300.00
172,500.00
- 1 ,424.06
Display Description
12.00 Sets periods per year.
Stores length of mortgage (25 ×
12 = 300 months).
0.00 Stores loan balance after 25
years.
Stores original loan balance.
8.80 Stores annual interest rate.
Calculates the monthly payment.