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Section 14: Leasing 153
File name: hp 12c_user's guide_English_HDPMBF12E44 Page: 153 of 209
Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm
Example 2:
Using the preceding program, solve for the monthly payment using
the information given in example 1. Then change the yearly interest to 15% and
solve for the new payment amount.
Keystrokes Display
12?0
12.00
Duration of lease.
3?1
3.00
Number of advance payments.
10\12z
?2
0.83
Periodic interest rate.
750?3t
64.45
Monthly payment to be received.
15\12z
?2t
65.43
Monthly payment to achieve a 15%
yield.
Example 3:
Using the information from example 1, what monthly payment is
necessary to yield the lessor 15% annually if one payment is due at the time of
closing
?
Assuming that the previous example was just solved, the keystrokes are as follows:
Keystrokes Display
1?1t
66.86
Monthly payment to be received.
Since this problem is an annuity due situation (one payment at the beginning of the
period) the calculation could also be done as follows:
Keystrokes Display
g×
fCLEARG
12n15gC
1.25
Periodic interest rate (into
i
).
750Þ$P
66.86
Monthly payment to be received.