HP HP-11C User Manual

192 Section 10: Applications Programs
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[f)CLEAR
13 12 [])(A] 1.08 % monthly interest rate.
1.00 Ordinary annuity.
30 (ENTER] 12 [x](B] 360.00 n
30000 30,000.00 PV
(D][R/S] -331.86 PMT
Example 3: Two individuals are constructing a loan with a
balloon payment. The loan amount is $3,600, and it is agreed that
the annual interest rate will be 10% with 36 monthly payments of
$100. What balloon payment amount, to be paid coincident with
the 36" payment, is required to fulfill the loan agreement?
(Note the cash flow diagram below is with respect to the lender. For
the borrower, the appropriate diagram will be exactly the opposite.)
o]
PMT PMT PMT PMT PMT
100 100 100 100 100
PV =-3600 FV?
Keystrokes Display
[fJCLEAR
10 12 (=])(A] 0.83 % monthly interest rate.
1.00 Ordinary annuity.
36 36.00 n
3600 -3.600.00 PV
100 [D](E]J(R/S] 675.27 FV
(Note that the final payment is $675.27 + $100.00 = $775.27 since
the final payment falls at the end of the last period.)

HP HP-11C Specifications

General

Brand	HP
Model	HP-11C
Category	Calculator
Language	English