HP 10bII+ - Page 71

Time Value of Money Calculations
63
Figure 7 Cash flow diagram (Calculate PMT)
Set to End mode. Press \¯ if BEGIN annunciator is displayed.
Part 2
At a price of 14,500, what interest rate is necessary to lower your payment by 50.00, to
372.53?
Table 6-2 Calculating the monthly payment
Keys Display Description
JG\Í
12.00 Sets periods per year (optional, as
12 is the default).
DPJGÙ
36.00 Stores number of periods in loan.
J:7VÒ
10.50 Stores annual nominal interest rate.
JYV::A
JV::Ï
13,000.00 Stores amount borrowed.
:É
0.00 Stores the amount left to pay after 3
years.
Ì
-422.53 Calculates the monthly payment.
The negative sign indicates money
paid out.