HP Apps: Solvers and Explorers 37
HP Apps: Solvers and Explorers
37
Solution
Highlight the PMT field and press the SOLVE menu key to view the results shown in the figure
to the right. As shown, you will need to make monthly payments of $948.10. Negative
values indicate payments you make, while positive values indicate payments made to you.
Example 1 Solution
Example 2
To continue the example, suppose you expect to sell the house after 10 years, repaying the
balance of the loan with a balloon payment. What will be the amount of the balloon
payment?
Example 2 Setup
Press the AMORT menu key to see the amortization schedule for the loan. The schedule is a
table with columns for payment group, the principal paid during the group, the interest paid
during the group, and the balance remaining at the end of the group. Use the cursor keys to
scroll through the table. The menu keys are:
• BIG: toggles the font size
• TVM: returns to the TVM view
Amortization View
Table 12 Finance App Summary
Summary of Functionality View Name and Display
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