36 HP Apps: Solvers and Explorers
HP Apps: Solvers and Explorers36
Table 12 Finance App Summary
Summary of Functionality View Name and Display
The top page of the Finance App lets you enter and solve TVM problems. The fields are:
• N: total number of periods or payments
• I%/YR: the nominal annual interest rate
• PV: present value at the start of the cash flow
• P/YR: the number of payments made in a year
• PMT: the payment due per period
• C/YR: the number of compounding periods per year
• FV: the value at the end of the cash flow
• END: whether payment is made at the beginning or end of each period
• Group Size: number of payments per group (for amortization schedule)
The menu items are:
• EDIT: opens an input box to edit the chosen value
• AMORT: enters the app's amortization page
• SOLVE: solves for the selected variable
TVM View
Example 1
You finance the purchase of a house with a 30-year loan at 6.5% annual interest. The cost
of the house is $180,000 and you make a down payment of $30,000. How much are the
required monthly payments? Assume payments start at the end of the first period. The figure
to the right shows the setup.
Example 1 Setup
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