HP 20b Business Consultant Financial Calculator User Manual Page 39
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Time Value of Money
31
Creating an Amortization Schedule
You borrow 140,000.00 for 360 months at 10% interest. Create an amortization schedule for
the loan. How much interest did you pay for the first year? What is the balance of your loan
after the first year? See Table 3-4. The example below is calculated with Chain set as the
operating mode, but it can be performed in RPN, Chain, or Algebraic.
Table 3-4 Amortization Example
Keys Display Description
12:[
Inputs 12 as the number of payments per year.
This value is 12 by default, but it maintains its
current entered value when TVM Reset is used.
30:^
Inputs 360 (30 times 12 payments per year) as the
number of payments for the 30-year loan.
10Y
Inputs 10 as the interest rate percentage per year.
1400
00V
Inputs the value of the loan at the time of the first
payment.
0F
Inputs 0 as the future value of the loan (zero
balance).
M
Calculates the monthly payment.
A
Displays the number of periods to group together
in the amortization schedule. Default is the current
value of P/YR.
<
Displays the first period of the group of periods to
amortize.
<
Displays the current balance remaining after the
first year.
<
Displays the current amount of the principal
applied towards the loan for the first year.
- HP 20b Business Consultant 1
- HP 30b Business Professional 1
- Legal Notice 2
- Keyboard Map Legend 5
- Table of Contents 7
- Selecting a Language 9
- Two Line Display 10
- until the 11
- <<< 12
- << 12
- Basic Features 13
- Annunciators 14
- The Input Key 14
- The Equals Key 14
- Editing and Clearing Entries 15
- The On/CE Key 15
- The Reset Menu 15
- Notes about Special Menus 16
- Memory and the Memory Menu 16
- Accessing Menus and Menu Maps 16
- or > 17
- returns 17
- with that 17
- Basic Features10 18
- Mathematical Functions 19
- Number Entry and Display 19
- Chain Mode 20
- Algebraic Mode 20
- I or = are valid 21
- I, this 22
- + changes the 22
- <<<< 23
- Mathematical Calculations 25
- Mathematical Calculations18 26
- Random number 27
- The Math Menu 27
- I on any of these items to 28
- The Probability Sub-menu 29
- Binomial Functions 31
- Two-Number Functions 31
- Storing and Recalling Numbers 32
- Recall Arithmetic 32
- returns 0.25 33
- % to add or subtract x % 34
- - returns 150, or 200-25% 34
- 3 Time Value of Money 35
- :x. Press < or > 37
- A. The Amortization 37
- V, M and [ 37
- A followed by < or 38
- I to reset, or O to cancel 40
- :& 41
- O once again 42
- Canadian Mortgage Example 44
- as 1 is the default 45
- Cash Flow Example 46
- P and IRR R 49
- Cash Flows42 50
- Editing Cash Flows 52
- Sample Cash Flow Diagrams 54
- = to calculate it 56
- Bond Calculation Example 57
- O again to exit the menu 58
- :(HOLD)B 59
- The Black-Scholes Menu 60
- (the Black-Sholes key) 60
- = in the 61
- to scroll through the menu 62
- :(HOLD) B 63
- to scroll to the 64
- 8 Date Calculation 65
- 9Break-even 67
- The Percent Calculation Menu 69
- repeatedly to scroll to the 69
- Percent Calculation Examples 70
- to reset the menu, or O to 72
- 11 D e p r e c i a t i o n 73
- The Depreciation Menu 74
- Depreciation Example 75
- 12 Statistical Operations 77
- The Data and Stats Menus 78
- Statistics Example 80
- :z<< 82
- 13 Programming 83
- : and simultaneously 83
- : >or< 84
- Programming Example 85
- Program Step 0 86
- : and the < 87
- Programming80 88
- Figure 2 88
- (HOLD) 89
- Sub-Function Call 90
- and (HOLD) functions 90
- .05003:$1 91
- Messages 92
- (HOLD) . If you want to 93
- Programming86 94
- Table 13-4 94
- Digit Description 94
- Programming88 96
- 14 E rro r M e s s a g e s 97
- Replacing the Batteries 99
- Regulatory Information 100
- Modifications 101
- Canadian Notice 101
- Avis Canadien 101
- Japanese Notice 102
- Korean Notice 102
- Contact Information 103
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