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HP 10bII - Loan With a Partial (Odd) First Period

HP 10bII
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8: Additional Examples 103
Loan With a Partial (Odd) First Period
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SD\PHQWSHULRGLVQRWWKHVDPHOHQJWKDVWKHUHPDLQLQJSHULRGV7KLVILUVW
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,ILQWHUHVWLVDSSOLHGWRDQRGGILUVWSHULRGLWLVXVXDOO\FDOFXODWHGDV
VLPSOHLQWHUHVW6RXVLQJWKH+3%,,WRGRDSD\PHQWFDOFXODWLRQZLWK
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39<RXPXVWEHDEOHWRFDOFXODWHWKHOHQJWKRIWKHRGGILUVWSHULRG
DVDIUDFWLRQRIWKHZKROHSHULRG)RUH[DPSOHDGD\RGGILUVW
SHULRGZRXOGEHSHULRGVDVVXPLQJDZKROHSHULRGWREHDGD\
PRQWK
 &DOFXODWHWKHSD\PHQWXVLQJWKHQHZ39ZLWK1HTXDOWRWKH
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WKHILUVWSD\PHQWLVOHVVWKDQRWKHUZLVHXVH(QGPRGH
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DPRXQWDVVXPLQJGD\PRQWKV"
7KHRGGILUVWSHULRGLQWKLVH[DPSOHLVGD\V
6HWWR(QGPRGH3UHVV
*O
LIBEGINDQQXQFLDWRULVGLVSOD\HG
Keys: Display: Description:
*b
12.00
6HWVSD\PHQWVSHU\HDU
.
15.00
6WRUHVLQWHUHVWUDWH
d"
1.25
&DOFXODWHVSHULRGLF
LQWHUHVWUDWH
d"
0.67
0XOWLSOLHVE\IUDFWLRQ
RIDSHULRG
*i
30.00
&DOFXODWHVDPRXQWRI
VLPSOHLQWHUHVWRZHG
IRURGGSHULRG

4,530.00
$GGVWKLVVLPSOH
LQWHUHVWWRSUHVHQW
YDOXH
10B.book Page 103 Wednesday, June 21, 2000 5:19 PM

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