HP 12c Platinum Reference Guide

10 Real Estate
Where:
n
1
= number of years remaining in original mortgage
PMT
1
= yearly payment of original mortgage
PV
1
= remaining balance of original mortgage
n
2
= number of years in wrap-around mortgage
PMT
2
= yearly payment of wrap-around mortgage
PV
2
= total amount of wrap-around mortgage
BAL = balloon payment
Example 2: A customer has an existing mortgage with a balance of $125,010, a
remaining term of 200 months, and a $1051.61 monthly payment. He wishes to obtain a
$200,000, 9 ½% wrap-around with 240 monthly payments of $1681.71 and a balloon
payment at the end of the 240th month of $129,963.35. If you, as a lender, accept the
proposal, what is your rate of return?
12c platinum / 12C
RPN Keystrokes
12c platinum
ALG Keystrokes
Display Comments
g gÂ
fCLEARG fCLEARG
200000Þ\ 200000Þ
125010+gJ +125010gJ
-74,990.00
Net investment.
1051.61Þ\ 1051.61Þ
1681.71+ +1681.71gK
630.10
Net cash flow
received by lender.
$125010
$ -200000
240 mos.
200 mos.
$ 129963.35
$1681.71 $1681.71 $1681.71
$ -1051.61
$ -1051.61
... ...

HP 12c Platinum Specifications

General

Digits	10 digits
Battery type	CR2032
Type	Financial
Form factor	Pocket

Weight and Dimensions

Weight	110 g
Dimensions (WxDxH)	79 x 129 x 15 mm