HP 12C Financial 12C manual 58.00, 29.00, 50.00 977.27, 4000, 027.27

54 Section 3: Basic Financial Functions

Keystrokes	Display
(ALG mode)
gÂ	4,000.00	Sets the payment mode to End.
n	58.00	Number of semimonthly deposits.
z2}	29.00	Number of months.

As in Example 1, it is likely that only 57 full deposits will be required, the next and final deposit being less than $50. You can calculate this final, fractional, 58th deposit as in Example 1, except that for this example you must subtract the original FV. (In Example 1, the original FV was zero.) The procedure is as follows:

Keystrokes	Display
(RPN mode)
MM	4,027.27 Calculates FV – which equals the
	balance in the account if 58 full
	deposits were made.*

:P

+

–50.00

3,977.27

Recalls amount of deposits.

Calculates the balance in the account if 57 full deposits were made and interest accrued during the 58th month.†

4000- –22.73

Keystrokes	Display
(ALG mode)
MM	4,027.27
+:P	–50.00
-	3,977.27

Calculates final, fractional, 58th deposit required to reach $4,000.

Calculates FV – which equals the balance in the account if 58 full deposits were made.*

Recalls amount of deposits.

Calculates the balance in the account if 57 full deposits were made and interest accrued during the 58th month.†

*In this example, M must be pressed twice, since the preceding key pressed was z in RPN mode and } in ALG mode. If we had stored the number of deposits in n (as we did following Example 1), we would have to press M only once here, since the preceding key pressed would have been w (as it was following Example 1). Remember that it is not necessary to store the number of payments in n before calculating the amount of the final, fractional payment. (Refer to the preceding footnote.)

†You might think that we could calculate the balance in the account after 57 full deposits were made simply by storing that number in n and then calculating FV, as we did using the second method following Example 1. However, this balance would not include the interest accrued during the 58th month.

File name: hp 12c pt_user's guide_English_HDPMF123E27	Page: 54 of 275
Printed Date: 2005/8/1	Dimension: 14.8 cm x 21 cm