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158 Section 12: Real Estate and Lending
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 158 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
Example 2:
Using the same information as given in example 1, calculate the
APR if the mortgage fee is $750 instead of a percentage.
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f]
f[
gÂ
gÂ
f
CLEAR
G
f
CLEAR
G
30
gA
30
gA
360.00
Months (into n)
5.5
gC
5.5
gC
0.46
Percent monthly interest
rate (into i).
160000
$
160000
$
160,000.00
Loan amount (into PV).
P
P
–908.46
Monthly payment
(calculated).
:$
750
-
$
:$-750
$
159,250.00
Effective mortgage
amount (into PV).
¼
¼
0.46
Monthly interest rate
(calculated).
12
§
§12³
5.54
Annual percentage rate.
Example 3:
Again using the information given in example 1, what is the APR if
the mortgage fee is stated as 2 points plus $750
?
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f]
f[
gÂ
gÂ
f
CLEAR
G
f
CLEAR
G
30
gA
30
gA
360.00
Months (into n)
5.5
gC
5.5
gC
0.46
Percent monthly interest
rate (into i).
160000
$
160000
$
160,000.00
Loan amount (into PV).
P
P
–908.46
Monthly payment
(calculated).
:$
2
b-
750
-$
:$-
2
b
-
750
$
156,050.00
Effective mortgage
amount (into PV).