HP 12c Platinum Reference Guide

Lending 37
c. Key in the number of years since the last adjustment. If this is the first mortgage
adjustment, then key in the number of years since the origination of the mortgage.
Press gA.
d.
Key in the monthly payment over this period and press ÞP.
e.
Press M to find the remaining balance, then press fCLEARGÞ$.
3.
Key in the adjusted annual interest rate (as a percentage) and press gC.
To calculate the new monthly payment:
a.
Key in the remaining life of the mortgage (years) and press gA.
b.
RPN: Press P to find the new monthly payment.
b.
ALG: Press PP to find the new monthly payment.
To calculate the revised remaining term of the mortgage:
a.
Key in the present monthly payment and press P.
b.
RPN: Press n12z to find the remaining term of the mortgage in years.
b.
ALG: Press nz12³ to find the remaining term of the mortgage in years.
Example: A homeowner purchased his house 3 years ago with a $50,000 variable rate
mortgage. With a 30 year term, his current monthly payment is $495.15. When the
interest rate is adjusted from 11.5% to 11.75%, what will the monthly payment be? If the
monthly payment remained unchanged, find the revised remaining term on the mortgage.
12c platinum / 12C
RPN Keystrokes
12c platinum
ALG Keystrokes
Display Comments
g gÂ
fCLEARG fCLEARG
50000$ 50000$
50,000.00
Original amount of loan.
11.5gC 11.5gC
0.96
Original monthly interest rate.
3gA 3gA
36.00
Period.
495.15ÞP 495.15ÞP
-495.15
Previous monthly payment.
M M
-49,316.74
fCLEARG fCLEARG
Þ$ Þ$
49,316.74
Remaining balance.
11.75gC 11.75gC
0.98
Adjusted monthly interest.
30\3- 30-3³
27.00
Remaining life of mortgage.
gA gA
324.00
P PP
-504.35
New monthly payment.
495.15ÞP 495.15ÞP
-495.15
Previous monthly payment.
n12z nz12³
31.67
New remaining term (years).

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