HP 10bII - Page 56

Keys: Display:
COO
es
12.00
еее)
36.00
60/0/07]
10.50
0000000
13,000.00
TEOT]
© 0.00
—422.53
Description:
Sets periods per year.
Stores number of
periods in loan.
Stores annual nominal
interest rate.
Stores amount
borrowed.
Stores the amount left
to pay after 3 years.
Calculates the monthly
payment. The negative
sign indicates moncy
paid out.
Part 2. Ata price of $14,500, what interest rate is necessary to lower your
payment by $50.00, to $372.53?
(1010/27 -372.53
Ge
2.03
Decreases payment
from $422.53.
Calculates annual
interest rate for the
reduced payment.
Part 3. If interest is 10.5%, what is the maximum you can spend on the
car to lower your car payment to $375.00?
000069
10.50
@@®@Э@м
-375.00
@
11,537.59
900000
13,037.59
56 5: Time Value of Money Calculations
Stores original interest
rate.
Stores desired
payment.
Calculates amount of
money to finance.
Adds the down pay-
ment to the amount
financed for total price
of the car.