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52 Section 3: Basic Financial Functions
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 52 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
Keystrokes
(ALG mode)
Display
+:P
–325.00
Recalls payment amount.
}
–143.11
Final, fractional payment.
Alternatively, you could make the fractional payment together with the 327th
payment. (Doing so will result in a somewhat smaller total of all payments, since
you will not have to pay interest during the 328th payment period.) You can
calculate this final, larger, 327th payment (essentially a balloon payment) as
follows:
Keystrokes
(RPN mode)
Display
327
n
327.00
Stores number of full payments.
M
–141.87
Calculates FV — which is the
balance remaining after 327 full
payments.
:P
–325.00
Recalls payment amount.
+
–466.87
Final, balloon payment.
Keystrokes
(ALG mode)
Display
327
n
327.00
Stores number of full payments.
M
–141.87
Calculates FV — which is the
balance remaining after 327 full
payments.
+:P
–325.00
Recalls payment amount.
}
–466.87
Final, balloon payment.
Instead of having a fractional (or balloon) payment at the end of the loan, you
might wish to make 327 or 328 equal payments. Refer to “Calculating the
Payment Amount” on page 58 for a complete description of this procedure.