HP 10bII - Page 59

Step 2. Since the payment is at the end of the month, the past payment
and the balloon payment occur at the same time. The final payment is the
sum of PMT and FV.
PV =172,500.00
VYR = 8:896
N=4x12
PAR =12
уе ape 46 | 47 | 48
PMT = -1,424.06 |
End Mode Fs?
‘The value in PMT should always be rounded to two
decimal places when calculating FV or PV to avoid small,
accumulative discrepancies between non-rounded
numbers and actual (dollars and cents) payments. If the
display is not set to two decimal places, press Ф659 2.
Display: Description:
1,424.06
Rounds
payment
to
two
decimal
places,
then
stores.
@@o 48.00 Stores 4 year term (12
4)
that
you
expect
to
own house.
(ЕУ)
—163,388.39
Calculates
loan
bal-
ance after 4 years.
emo
164,812.45
Calculates
total
48"
payment (PMT and
FV) to pay off loan
(money paid out is
negative).
5: Time Value of Money Calculations 59