Hp 12C Financial calculator User Manual download pdf (Page 157)

Section 14: Leasing 157

File name: hp 12c_user's guide_English_HDPMBF12E44 Page: 157 of 209

Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm

REGISTERS

n: Used. i: Interest PV: Used PMT: –1.

FV: Residual

: # Pmts (n) R

: Interest. R

: Loan.

: Residual R

: # Adv. Pmt. R

: Used R

–R

: Unused

1. Key in the program.

2. Key in the total number of payments then press ?0.

3. Key in or calculate the periodic interest rate then press ?1.

4. Key in the loan amount then press ?2.

5. Key in the residual value then press ?3.

6. Key in the total number of payments made in advance then press ?4.

Then press t to obtain the payment amount received by the lessor.

7. For a new case, return to step 2. The values changed from the previous case

are the only values which need to be re-entered.

Example 1:

A copier worth $22,000 is to be leased for 48 months. The lessee

has agreed to make 4 payments in advance, with a purchase option at the end of

48 months enabling him to buy the copier for 30% of the purchase price. What

monthly payment is necessary to yield the lessor 15% annually:

Keystrokes Display

48?0

15\

12z?1

1.25

Monthly interest rate.

22000?2

30b?3

4?4t

487.29

Monthly payment received by lessor.

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Hp 12C Financial calculator User Manual Page 157