HP 12C Platinum Financial Calculator User Manual download pdf (Page 32)

32 Lending

12c platinum / 12C

RPN KEYSTROKES

DISPLAY

12c platinum

ALG KEYSTROKES

DISPLAY

g(000

026,43,33,000

026, 34

027, 36

g(000

028,43,33,000

REGISTERS

N: Unused i: Unused PV: Unused PMT: Unused

FV: Unused R

: Fin. charge R

: # months R

: Payment #

-R

: Unused

Program Instructions:

1. Key in the program.

Key in the number of months in the loan and press \(³).

Key in the payment number when prepayment occurs and press \(³).

Key in the total finance charge and press t to obtain the unearned interest

(rebate).

Key in the periodic payment amount and press t to find the amount of principal

outstanding.

6. For a new case return to step 2.

12c platinum / 12C

RPN Keystrokes

12c platinum

ALG Keystrokes

Display Comments

30\ 30³

25\ 25³

180t 180t

5.81

Rebate.

39.33t 39.33t

190.84

Outstanding principal.

Graduated Payment Mortgages

The Graduated Payment Mortgage is designed to meet the needs of young home buyers

who currently cannot afford high mortgage payments, but who have the potential of

increasing earning in the years to come.

Under the Graduated Payment Mortgage plan, the payments increase by a fixed

percentage at the end of each year for a specified number of years. Thereafter, the

payment amount remains constant for remaining life of the mortgage.

The result is that the borrower pays a reduced payment (a payment which is less than a

traditional mortgage payment) in the early years, and in the later years makes larger

payments than he would with a traditional loan. Over the entire term of the mortgage, the

borrower would pay more than he would with conventional financing.

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HP 12C Platinum Financial Calculator User Manual Page 32

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