Time Value of Money Calculations
75
The AMORT key on the HP 10bII+ allows you to calculate.
• The amount applied to interest in a range of payments.
• The amount applied to principal in a range of payments.
•The loan balance after a specified number of payments are made.
The \Ê function assumes you have just calculated a payment or you have stored the
appropriate amortization values in I/YR, PV, FV, PMT, and P/YR.
The numbers displayed for interest, principal, and balance are rounded to the current display
setting.
To Amortize
To amortize a single payment, enter the period number and press \Ê . The HP 10bII+
displays the annunciator PER followed by the starting and ending payments that will be
amortized.
Press
4 to see interest (INT). Press 4 again to see the principal (PRIN) and again to see
the balance (BAL). Continue pressing 4 to cycle through the same values again.
To amortize a range of payments, enter starting period number
Æ ending period number,
then press
\Ê. The HP 10bII+ displays the annunciator PER followed by the starting
and ending payments that will be amortized. Then press
4 repeatedly to cycle through
interest, principal, and balance.
Press \Ê again to move to the next set of periods. This auto-increment feature saves
you the keystrokes of entering the new starting and ending periods.
Table 6-17 Keys for storing the amortization values
Keys Description
Ò
Annual nominal interest rate.
Ï
Starting balance.
É
Ending balance.
Ì
Payment amount (rounded to the display format).
\Í
Number of payments per year.
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