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

Page 253
Image 253
HP 17bII manual Odd-Period Calculations, Advance Payments, Modified Internal Rate of Return