HP 10bII - Lease Calculations

5: Time Value of Money Calculations 63
Lease Calculations
$OHDVHLVDORDQRIYDOXDEOHSURSHUW\OLNHUHDOHVWDWHDXWRPRELOHVRU
HTXLSPHQWIRUDVSHFLILFDPRXQWRIWLPHLQH[FKDQJHIRUUHJXODU
SD\PHQWV6RPHOHDVHVDUHZULWWHQDVSXUFKDVHDJUHHPHQWVZLWKDQ
RSWLRQWREX\DWWKHHQGRIWKHOHDVHVRPHWLPHVIRUDVOLWWOHDV
7KHGHILQHGIXWXUHYDOXH)9RIWKHSURSHUW\DWWKHHQGRIDOHDVHLV
VRPHWLPHVFDOOHGWKH´UHVLGXDOYDOXHµRU´EX\RXWYDOXHµ
$OOILYH790DSSOLFDWLRQNH\VFDQEHXVHGLQOHDVHFDOFXODWLRQV7KHUHDUH
WZRFRPPRQOHDVHFDOFXODWLRQV
n )LQGLQJWKHOHDVHSD\PHQWQHFHVVDU\WRDFKLHYHDVSHFLILHG\LHOG
n )LQGLQJWKHSUHVHQWYDOXHFDSLWDOL]HGYDOXHRIDOHDVH
7KHILUVWSD\PHQWRQDOHDVHXVXDOO\RFFXUVDWWKHEHJLQQLQJRIWKHILUVW
SHULRG7KXVPRVWOHDVHFDOFXODWLRQVXVH%HJLQPRGH
Example: Calculating a Lease Payment. $FXVWRPHUZLVKHVWROHDVH
DFDUIRUWKUHH\HDUV7KHOHDVHLQFOXGHVDQRSWLRQWREX\WKHFDU
IRUDWWKHHQGRIWKHOHDVH7KHILUVWPRQWKO\SD\PHQWLVGXHWKH
GD\WKHFXVWRPHUGULYHVWKHFDURIIWKHORW,I\RXZDQWWR\LHOG
DQQXDOO\FRPSRXQGHGPRQWKO\ZKDWZLOOWKHSD\PHQWVEH"&DOFXODWHWKH
SD\PHQWVIURP\RXUWKHGHDOHU·VSRLQWRIYLHZ
Keys: Display: Description:
*b
12.00
6HWVSD\PHQWVSHU\HDU
(
–400,000.00
6WRUHV\RXUQHVWHJJDV
DQRXWJRLQJGHSRVLW
.
7.00
6WRUHVDQQXDOLQWHUHVW
UDWH\RXH[SHFWWRHDUQ
*U
600.00
6WRUHVQXPEHURI
ZLWKGUDZDOV
/
0.00
6WRUHVEDODQFHRI
DFFRXQWDIWHU\HDUV
2
2,392.80
&DOFXODWHVDPRXQWWKDW
\RXFDQZLWKGUDZDW
WKHEHJLQQLQJRIHDFK
PRQWK
.book Page 63 Wednesday, June 21, 2000 5:19 PM