Filter
Top Products
14: Additional Examples 197
File name : 17BII-Plus-Manual-E-PRINT-030709 Print data : 2003/7/11
u
;68#&$." interest rate.
46
¬
A1@F8+'&((" Stores days until first
payment.
0
X
GO8(&((" No balloon payment.
W
50:8/#.-&(%" Calculates payment.
Example: Loan with an Odd First Period Plus Balloon. A $10,000
loan has 24 monthly payments of $400, plus a balloon payment of
$3,000 at the end of the 24th month. If the payments begin in 8 days,
what annual interest rate is being charged?
Select equation ODD.
Keys: Display: Description:
E
"
Creates menu.
10000
V
24
T
5O8#(K(((&(("
<8$+&(("
Stores known values.
400
&
W
50:8/+((&(("
3000
&
X
8
¬
GO8/%K(((&(("
A1@F8*&(("
u
;68#&'+" Calculates periodic
(monthly) interest rate.
*
12
=
#,&'-" Annual interest rate.
Canadian Mortgages
In Canadian mortgages, the compounding and payment periods are not
the same. Interest is compounded semi-annually while payments are
made monthly. To use the TVM menu in the HP 17bII+, you need to
calculate a Canadian mortgage factor to store as I%YR.
1. Set End mode and store 12 Y
.
v