HP 17bII manual Odd-Period Calculations, Advance Payments, Modified Internal Rate of Return

Odd-Period Calculations

PV



+ i

DAYS 

1

×



=



30 



− (1 +

i)

−N 

− (1 + i × S)

× PMT

×



1



− FV (1 + i)−N

i





Where: PV = loan amount

i = periodic interest rate as a decimal

DAYS = actual number of days until the first payment PMT = periodic payment amount

N = total number of payments FV = balloon payment amount

S = 1 if DAYS < 30 S = 0 if DAYS ≥ 30

Advance Payments

PMT	=		− PV − FV (1 + i)−N
		1 − (1		+ i)− (N − # ADV )	
					+ # ADV 
				i
					
where: PMT =	payment amount
PV =	loan amount
FV =	balloon payment amount
i =	periodic interest rate (as a decimal)
N =	total number of payments
#ADV =	number of payments made in advance

Modified Internal Rate of Return

MIRR 100  NFVP 1 n

=    − NPVN 



− 1





where: n = total number of compounding periods NFVP = net future value of positive cash flows NPVN = net present value of negative cash flows

	B: More About Calculations 253
File name : 17BII-Plus-Manual-E-PRINT-030709	Print data : 2003/7/11