HP 12C Financial 12C 12z, z12}, full, 328n, 328n, Display, Display, Display, –325.00, –143.11, Display, were made, were made, Keystrokes, (RPN mode), Keystrokes, (RPN mode)

	Section 3: Basic Financial Functions		51
Keystrokes	Display
(RPN mode)
n	328.00	Number of payments required.
12z	27.33	Twenty-seven years and four months.

In ALG mode, perform the RPN steps but replace the last step with the step below.

KeystrokesDisplay (ALG mode)

z12} 27.33 Twenty-seven years and four months.

Because the calculator rounds the calculated value of n up to the next higher integer, in the preceding example it is likely that — while 328 payments will be required to pay off the loan — only 327 full payments of $325 will be required, the next and final payment being less than $325. You can calculate the final, fractional, 328th payment as follows:

Keystrokes	Display
(RPN mode)
328n	328.00	Stores total number of payments.*
M	181.89	Calculates FV — which equals the
		overpayment if 328 full payments
		were made.
:P	–325.00	Recalls payment amount.
+	–143.11	Final, fractional payment.
Keystrokes	Display
(ALG mode)
328n	328.00	Stores total number of payments.*
M	181.89	Calculates FV — which equals the
		overpayment if 328 full payments
		were made.

*You could skip this step, since 328 is already stored in the n register. If you do so, however, you will need to press Mtwice in the next step (for the reason discussed in the first footnote on page 41; you would not have to press M twice if you had not pressed 12zin RPN mode or z12} in ALG mode after w in the example above.) We choose to show this and the following example in a parallel format so that the procedure is easy to remember: the number you key is the number of the final payment — either the fractional payment or the balloon payment — whose amount is to be calculated.

File name: hp 12c pt_user's guide_English_HDPMF123E27	Page: 51 of 275
Printed Date: 2005/8/1	Dimension: 14.8 cm x 21 cm