HP 10bII - Page 102

Om
0.00
e
1,230.26
160,000.00
OG»
156,800
872
The loan will be
completely paid off in
30 years.
Calculates payment.
Recalls loan amount.
Subtracts points.
Calculates APR,
considering fees.
Example: Interest-Only Loan With Fee. A $1,000,000, 10-year, 12%
(annual interest) interest-only loan has an origination fee of three points.
What is the yield to the lender? Assume that monthly payments of
interest are made.
Set to End mode. Press QE if BEGIN annunciator is displayed.
Keys: Display:
COS 12.00
@OOaa
12.00
OOO
120.00
@MOOGDADOD®
1,000,000.00
GB
—1,000,000.00
em
10,000.00
om
1,000,000.00
OG»
970,000.00
@®
12.53
102 8: Additional Examples
Description:
Sets payments per year.
Stores interest rate.
Stores length of
mortgage.
Stores original amount
of mortgage.
Enters amount due at
end of term. Payments
are interest only so
entire loan amount is
due.
Calculates interest-only
payments.
Recalls loan amount.
Subtracts points.
Calculates APR.