HP 10bII+ Financial manual Jg\Í, J7jVÒ

If you store, recall, or perform any other calculations during amortization, pressing 4will no longer cycle through interest, principal, and balance. To resume amortization with the

same set of periods, press v\Ê.

Example: Amortizing a Range of Payments

Calculate the first two years of the annual amortization schedule for a 30 year, 180,000 mortgage, at 7.75% annual interest with monthly payments.

Set to End mode. Press \¯if BEGIN annunciator is displayed.

Table 6-18 Calculating the monthly payment

KeysDisplay Description

JG\Í	12.00	Sets payments per year.
D:\Ú	360.00	Stores total number of payments.
j7jVÒ	7.75	Stores interest per year.
Jg::::Ï 180,000.00		Stores present value.
:É	0.00	Stores future value.
Ì	-1,289.54	Calculates the monthly payment.

If you already know the mortgage payment, you can enter and store it just like you store the other four values. Next, amortize the first year.

Table 6-19	Calculating the loan balance after a year
Keys		Display	Description
JÆJG			periods.
		12_	Enters starting and ending
\Ê		1– 12	Displays the PER and AMORT
			annunciators and range.
4		-1,579.84	Displays the PRIN annunciator
			and the principal paid in the first
			year.
4		-13,894.67	Displays the INT annunciator
			and the interest paid in the first
			year.
4		178,420.16	Displays the BAL annunciator
			and the loan balance after one

year.

76 Time Value of Money Calculations