HP 20B manual O300N 6Y350 00V, Canadian Mortgage Example

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Time Value of Money

Canadian Mortgage Example

Calculate the monthly payment for a 25-year (N=300) Canadian mortgage valued at 350,000.00, if the nominal interest rate is 6.0%, compounded twice yearly (C/YR=2) with 12 payments per year (P/YR).

Table 3-7Canadian Mortgage Example

Keys	Display	Description

:u

Opens the Mode menu, starting with the current FIX value (number of digits to the right of the decimal point).

>I

Scrolls to TVM mode and sets mode to TVM Canada.

O

Returns to default calculator screen.

:[12

I<2

I

Opens P/YR menu. Inputs 12 for P/YR and 2 for C/YR.

O300N

6Y350

00V

Exits menu and inputs values for N, I/YR, and PV.

M

Calculates the monthly payment as required by the example.

To reset the menu, press :x. With TVM displayed, press I. At the TVM Reset prompt, press Ito reset, or Oto cancel. To exit the menu, press Oonce again. With the menu set to its default settings, P/YR and C/YR are both set to 12 payments/compounding periods per year.

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Contents HP 20b Business Consultant Financial Calculator Manual HP part number F2219-90201 First edition AugustLegal Notices Legal NoticesRevision History Revision HistoryContents Cash Flows Business ProblemsTime Value of Money BondsIndex ErrorsWarranty, Regulatory, and Contact Information HP 20b Business Consultant Keyboard FeatureFeature Chapters Keyboard Map LegendBasic Features Basic FeaturesAdjusting the Display Contrast Selecting a LanguageMode Menu Setting Preferences Two Line DisplayBasic Features 1Mode Menu Settings Setting top line DescriptionChanging the Calculation Mode Keys Display DescriptionKey Presses and the Secondary Function Key Annunciators= Key Using the I and = KeysI Key Memory and the Memory Menu Reset x MenuEditing and Clearing Entries On/CE O Key Accessing Menus and Menu Maps Menu Map for the Break-even Menu Number Entry and Display Mathematical CalculationsMathematical Functions Chain Mode Algebraic ModeReverse Polish Notation RPN Mode RPN StackO1c23 I56c1 Last NumberU3I Mathematical Calculations 2Last Number 3I4+5I6+ RPN StackKeys Display Description RPN Stack One-Number Functions and the Math Menu RPN Stack and the Roll Down OperationMath s Menu Keys DescriptionMenu Map for the Math Menu Ior = Probability Sub-menuMathematical Calculations 5Math Menu Example 10I 12I Two-Number Functions10I 7Inverse Probability ExampleStoring and Recalling Numbers Recalling a Menu Item Value in a Menu Recall ArithmeticStoring and Recalling with Time Value of Money TVM Keys Rounding NumbersPage Time Value of Money Time Value of Money TVM KeysTime Value of Money 00V 360 N1400 Calculating Payments on a LoanMenu Item/Key Description AmortizationTime Value of Money 2TVM Example Creating an Amortization Schedule 10Y1400 00V Using the Interest Conversion Menu Interest Conversion MenuTime Value of Money 6Interest Rate Conversion Example Canadian Mortgages TVM Canada365 Page O300N 6Y350 00V Canadian Mortgage ExampleCash Flow Diagram Cash FlowsCash Flow Amount Cash Flow ExampleKey Description 4500I 80005000I 4000ICash Flows 2Cash Flow Example 115000Analyzing Cash Flows NPV and IRR Menu Items IRR%Editing Cash Flows Cash Flows 4NPV and IRR ExampleSample Cash Flow Diagrams Bonds Bond MenuBond Calculation Example 20102020 Bond Menu Items+L1= Bonds 2Bond Calculation ExampleDate Calculation Example Date CalculationDate Calculation Menu 10.3 12010 Date Calculation 1Date Calculation ExampleBreak-even Break-even MenuBreak-even 1Break-even Example Business Problems Percent Calculation Menu20I 15I22I 35I30I What is 30% of 80? 4Part % of Total Example80I Depreciation Depreciation MenuDepreciation Method Description Sline 1Depreciation Methods2Depreciation Menu Items Depreciation Example 1000500 Depreciation Menu ItemsDepreciation 3Straight Line Depreciation Example Statistical Operations Menu Maps for the Data and Statistics MenusData and Stats Menus Statistical Operations 1The Statistics Menu Items Menu Item Description3I1 60I 1I1 50I2I1 65I 4I1 75I5I1 70I Statistical Operations 3Statistics Example1Error Messages ErrorsError Messages and Calculator Status Error Message Status Replacing the Batteries Warranty, Regulatory, and Contact InformationHP Limited Hardware Warranty and Customer Care Customer Care +65 6100 210 969Honduras Hong Kong 香港特別行政區 852 India Ireland 01 605 Italia 02 754 1901 439 877 232495 228 Singapore 6100Canadian Notice Product Regulatory & Environment InformationModifications Avis CanadienChemical Substances Pbde Index Calendar Actual, Cal.360Off calculator off