HP 12c Platinum - Page 53

Section 3: Basic Financial Functions 53
File name: HP 12cpt_user's guide_English_110608.DOC Page: 71 of 285
Printed Date: 2009/1/13 Dimension: 14.8 cm x 21 cm
Example 2:
You’re opening a savings account today (the middle of the month)
with a $775 deposit. The account pays 6.25% interest compounded semimonthly.
If you make semimonthly deposits of $50 beginning next month, how long will it
take for your account to reach $4,000
?
Keystrokes
(RPN mode)
Display
f
CLEAR
G
6.25
\
24
z¼
0.26
Calculates and stores i.
775
Þ$
–775.00
Stores PV (with minus sign for cash
paid out).
50
ÞP
–50.00
Stores PMT (with minus sign for cash
paid out).
4000
M
4,000.00
Stores FV.
gÂ
4,000.00
Sets the payment mode to End.
n
58.00
Number of semimonthly deposits.
2
z
29.00
Number of months.
Keystrokes
(ALG mode)
Display
f
CLEAR
G
6.25
z
24
¼
0.26
Calculates and stores i.
775
Þ$
–775.00
Stores PV (with minus sign for cash
paid out).
50
ÞP
–50.00
Stores PMT (with minus sign for cash
paid out).
4000
M
4,000.00
Stores FV.