HP 12c Platinum - Page 160

160 Section 12: Real Estate and Lending
File name: HP 12c Pt Converted_user's guide_English_HDP0F123E02_080207 Page: 170 of 281
Printed Date: { 2007/8/2Dimension: 14.8 cm x 21 cm
Example 2:
Using the same information as given in example 1, calculate the
APR if the mortgage fee is $750 instead of a percentage.
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f] f[
g gÂ
f
CLEAR
G f
CLEAR
G
30
gA
30
gA
360.00
Months (into n)
5.5
gC
5.5
gC
0.46
Percent monthly interest
rate (into i).
160000
$
160000
$
160,000.00
Loan amount (into PV).
P P
–908.46
Monthly payment
(calculated).
:$
750
-
$
:$-750
$
159,250.00
Effective mortgage
amount (into PV).
¼ ¼
0.46
Monthly interest rate
(calculated).
12
§
§12³
5.54
Annual percentage rate.
Example 3:
Again using the information given in example 1, what is the APR if
the mortgage fee is stated as 2 points plus $750
?
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f] f[
g gÂ
f
CLEAR
G f
CLEAR
G
30
gA
30
gA
360.00
Months (into n)
5.5
gC
5.5
gC
0.46
Percent monthly interest
rate (into i).
160000
$
160000
$
160,000.00
Loan amount (into PV).
P P
–908.46
Monthly payment
(calculated).
:$
2
b-
750
-$
:$-
2
b
-
750
$
156,050.00
Effective mortgage
amount (into PV).