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54 Section 3: Basic Financial Functions
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 54 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
Keystrokes
(ALG mode)
Display
gÂ
4,000.00
Sets the payment mode to End.
n
58.00
Number of semimonthly deposits.
z
2
}
29.00
Number of months.
As in Example 1, it is likely that only 57 full deposits will be required, the next and
final deposit being less than $50. You can calculate this final, fractional, 58th
deposit as in Example 1, except that for this example you must subtract the original
FV. (In Example 1, the original FV was zero.) The procedure is as follows:
Keystrokes
(RPN mode)
Display
MM
4,027.27
Calculates FV – which equals the
balance in the account if 58 full
deposits were made.
*
:P
–50.00
Recalls amount of deposits.
+
3,977.27
Calculates the balance in the account
if 57 full deposits were made and
interest accrued during the 58
th
month.
†
4000
-
–22.73
Calculates final, fractional, 58
th
deposit required to reach $4,000.
Keystrokes
(ALG mode)
Display
MM
4,027.27
Calculates FV – which equals the
balance in the account if 58 full
deposits were made.
*
+:P
–50.00
Recalls amount of deposits.
-
3,977.27
Calculates the balance in the account
if 57 full deposits were made and
interest accrued during the 58
th
month.
†
*
In this example, M must be pressed twice, since the preceding key pressed was z in RPN
mode and } in ALG mode. If we had stored the number of deposits in n (as we did
following Example 1), we would have to press M only once here, since the preceding key
pressed would have been w (as it was following Example 1). Remember that it is not
necessary to store the number of payments in n before calculating the amount of the final,
fractional payment. (Refer to the preceding footnote.)
†
You might think that we could calculate the balance in the account after 57 full deposits were
made simply by storing that number in n and then calculating FV, as we did using the second
method following Example 1. However, this balance would not include the interest accrued
during the 58th month.