HP 12C - Page 211

Section 14: Leasing 211
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 211 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
7. For a new case, return to step 2. The values changed from the previous case
are the only values which need to be re-entered.
Example 1:
A copier worth $22,000 is to be leased for 48 months. The lessee
has agreed to make 4 payments in advance, with a purchase option at the end of
48 months enabling him to buy the copier for 30% of the purchase price. What
monthly payment is necessary to yield the lessor 15% annually:
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f] f[
48
?
0 48
?
0
48.00
Duration of lease.
15
\
15
z
15.00
12
z?
1 12
³?
1
1.25
Monthly interest rate.
22000
?
2 22000
?
2
22,000.00
30
b?
3
§
30
b³?
3
6,600.00
4
?
4
t
4
?
4
t
487.29
Monthly payment received
by lessor.
Example 2:
Using the information from example 1, what would the monthly
payments be if the lessor desired a yield of 18% annually
?
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
487.29
From previous example.
18
\
12
z
18
z
12
³
1.50
Monthly interest rate.
?
1
t ?
1
t
520.81
Monthly payment received
by lessor.