HP HP-15C

Section 1: Using | SOLVE | Effectively
27
Possible Problems Involving Annuities and
Compound Amounts
Allowable
Combination
of
Variables
n,i,PV,PMT
(Enter any
three and
calculate the
fourth.)
n, i, PV,
PMT, FV
(Enter any
four and
calculate the
fifth.)
n, i, PMT, FV
(Enter any
three and
calculate the
fourth.)
n, i, PV, FV
(Enter any
three and
calculate the
fourth.)
Typical Applications
For Payments
at End
of Period
Direct reduc-
tion loan.
Discounted
note.
Mortgage.
Direct reduc-
tion loan
with
balloon
payment.
Discounted
note.
Sinking fund.
For Payments
at Beginning
of Period
Lease.
Annuity due.
Lease with
residual
value.
Annuity due.
Periodic
savings.
Insurance.
Compound growth.
Savings.
Initial
Procedure
Use
[?1 CLEAR [REG]
or set FV\o zero.
None.
Use
Ffl CLEAR [REG]
or set PV to
zero.
Use
QO CLEAR [REG]
orsetPM7"to
zero.
The program accommodates payments that are made at the
beginning or end of compounding periods. Payments made at the
end of compounding periods (ordinary annuity) are common in
direct reduction loans and mortgages. Payments made at the