HP HP-15C Advanced Functions Handbook

36
Section 1: Using | SOLVE | Effectively
Example: You offer a loan of $3,600 that is to be repaid in 36
monthly payments of $100 with an annual interest rate of 10%.
What balloon payment amount, to be paid coincident with the 36th
payment, is required to pay off the loan?
?
FV
100
PMT
\ t t t
PV
-3600
12
34 35 36
Keystrokes
|T| CLEAR [REG!
36®
10[ENTER|12FirBl
100 HO
Display
36.00
0.83
-3600.00
100.00
675.27
Clears financial variables.
Enters n = 36.
Enters i = 10/12.
Enters PV= -3600
(money paid out).
Enters PMT= 100
(money received).
Calculates FV.
The final payment is $675.27 + $100.00 = $775.27 because the final
payment and balloon payment are due at end of the last period.
Example: You're collecting a $50,000 loan at 14% annual interest
over 360 months. Find the remaining balance after the 24th
payment and the interest accrued between the 12th and 24th
payments.
You can use the program to calculate accumulated interest and the
remaining balance for loans. The accumulated interest is equal to
the total payments made during that time less the principal
reduction during that time. The principal reduction is the
difference between the remaining balances at the start and end of
the period.

HP HP-15C Specifications

General

Brand	HP
Model	HP-15C
Category	Calculator
Language	English