Filter
Top Products
48 Section 3: Basic Financial Functions
File name: hp 12c_user's guide_English_HDPMBF12E44 Page: 48 of 209
Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm
Calculating the Future Value
1. Press fCLEARG to clear the financial registers.
2. Enter the number of payments or periods, using n or A.
3. Enter the periodic interest rate, using ¼ or C.
4. Enter either or both of the following:
z Present value, using $.
z Payment amount, using P.
Note:
Remember to
observe the cash flow si
g
n
convention.
5. If a PMT was entered, press g× or g to set the payment mode.
6. Press M to calculate the future value.
Example 1:
In Example 1 on page 46, we calculated that the payment amount
on a 29-year, $43,400 mortgage at 14
1
/
4
% annual interest is $523.99. If the
seller requests a balloon payment at the end of 5 years, what would be the
amount of the balloon
?
Keystrokes Display
fCLEARG
5gA
60.00
Calculates and stores n.
14.25gC
1.19
Calculates and stores i.
43400$
43,400.00
Stores PV.
523.99ÞP
–523.99
Stores PMT (with minus sign for cash
paid out).
gÂ
–523.99
Sets payment mode to End.
M
–42,652.37
Amount of balloon payment.