HP 17bII manual 80 5 Time Value of Money, Next successive set of payments authorized

Next successive set of payments authorized

b.To calculate a subsequent schedule with a different number of payments, key in that number and press .

c.To start over from payment #1 (using the same loan information), press @cand proceed from step 7.

Example: Displaying an Amortization Schedule. To purchase your new home, you have taken out a 30-year, $65,000 mortgage at 12.5% annual interest. Your monthly payment is $693.72. Calculate the amount of the first year’s and second year’s payments that are applied toward principal and interest.

Then calculate the loan balance after 42 payments (3½ years).

Keys:					Display:	Description:
						Displays TVM menu.
					
12.5						Stores annual interest
						rate.
65000						Stores loan amount.
693.72 &						Stores monthly
						payment.
					
						If needed: sets 12
					
@c					   	payment periods per
						year; End mode.
						Displays AMRT menu.
					  
					

80 5: Time Value of Money

File name : English-M02-1-040308(Print).doc Print data : 2004/3/9