Keys:

Display:

Description:

 

 

 

 

If necessary, sets 12

 

 

 

 

payments per year and

 

@c

End mode.

e   

10 @

 

 



Stores total number of

 

 

 

 

 

 

payments.

1000000 E

Calculates annual interest

12 %

 

 

 

 



on $1,000,000.

 

 

 

 

 

12 /

 



Calculates, then stores,

 

 

 

 

 

 

monthly payment.

 

 

 

1000000



Stores entire loan amount

 

 

 

 

 

 

as balloon payment.

3 %-&

 

 

Calculates, then stores,

 

 

 

 

amount borrowed (total -

 

 

 



 

 

 

 

 

 

points).

 

 

 

 

Calculates APR—the yield

 

 

 



 

 

 

 

 

 

to lender.

Example: Savings for College. Your daughter will be going to college in 12 years and you are starting a fund for her education. She will need $15,000 at the beginning of each year for four years. The fund earns 9% annually, compounded monthly. You plan to make monthly deposits, starting at the end of the current month. How much should you deposit each month to meet her educational expenses?

See figures 14-1 and 14-2 (chapter 14) for the cash-flow diagrams.

Remember to press the = key for E while working in a list. (Pressing Iwill add data to the list, not perform an ENTER.)

278 F: RPN: Selected Examples

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