HP HP-32S - Page 230

Part 2. What interest rate would reduce the monthly payment by
$10?
Keys:
"XEQl I
R/S
R/S
ENTER
10 H
(rZs)
fRTsI
120
Display:
Description:
N?36.ee
Selects routine I, which
calculates the periodic
interest rate.
B?5,758.00
Accepts 36 as the num
ber of payments.
P?-186.89
Accepts $5,750.00 as
the initial balance.
P9-186.89
Copies payment in
P9-176.89
F70.00
1=0.56
6.75
stack so that you can
calculate with it. (The
X-register will be over
written by the next
number entered.)
Reduces the monthly
payment by $10.00.
Stores the modified
payment value.
Accepts zero as the fu
ture balance and
calculates 1, the
monthly interest rate.
Calculates the annual
interest rate.
Part 3. Using the interest rate of 6.75%, assume that you sell the car
after 2 years. What balance will you still owe? In other words, what is
the future balance in 2 years?
228 14: Miscellaneous Programs