HP 17BIIPLUS - Page 69

5: Time Value of Money 69
1 2 359 360
_
630
?
30 12
X
0
11.5
12; End mode
Keys: Display: Description:
" ] !
" Display TVM menu.
@c
#$ 5?@2 H<A 0EAH" Clears history stack and
TVM variables.
.
@c
e
"
#$ 5?@2 H<A 0EAH"
If needed: sets 12 payment
periods per year; End
mode.
30
@
T
<8%'(&((" Pressing
@
first multiplies
30 by 12, then stores this
number of payments in N.
11.5
U
;6@28##&.(" Stores annual interest rate.
630
&
W
"
50:8/'%(&(("
Stores a negative monthly
payment.
V
5O8'%K'#-&'+" Calculates loan amount.
+
12000
=
-.K'#-&'+"
Calculates total price of the
house (loan plus down
payment).
Example: A Mortgage with a Balloon Payment. You’ve taken out a
25-year, $75,250 mortgage at 13.8% annual interest. You anticipate
that you will own the house for four years and then sell it, repaying the
loan in a “balloon payment.” What will be the size of your balloon
payment?
v