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HP HP-18C - Page 76

HP HP-18C
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12
IiIDI
IDBI
I
EXIT
I
36 "
14
I11III
13500
[1J
..
7500 "
12
PMTS
/
YR
: BEGIN
~10DE
N=36,00
I:~YR=14,
00
PV=-13,500,00
FV=7,500,00
PMT=289,19
Sets 12
payments
per
year, Begin
mode
.
Displays
the
TVM
menu
.
Stores
the
number
of
payments
.
Stores
the
annual
interest
rate.
Stores
the
present
value
of
the
car
in
pv.
Stores
the
purchase
op-
tion
value
in
FV.
Calculates
the
monthly
lease
payment.
Example: Present value of a lease with advanced payments
and option to
buy.
Ratajak Dairy, Inc. is leasing a
machine
for 4
years.
Monthly
payments
are $2,400;
an
additional
$2,400
payment
at
the
beginning
of
the
leasing
period
replaces
the
final
payment.
The
leasing
agreement
includes
an
option
to
buy
the
machine
for $15,000
at
the
end
of
the
leasing
period
.
What
is
the
capitalized value
of
the
lease,
assuming
that
the
interest rate Ratajak
pays
to
borrow
funds
is
18%,
compounded
monthly?
74
4:
Time
Value
of
Money

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