HP HP-65 - Figure 4-6. Calculationresults

Label B. Given $2000 initially plus $185 per month invested
at 1% per month. What is the monthly total savings? This also
is a compound growth schedule with a growth (interest) factor
of 1.01 but with an addition of $185 monthly to the amount
being compounded.
Label C: This is simply the difference between required down-
payment and savings (label A minus label B).
Label D: What is the number of months required for the savings
to overtake the required downpayment?
Label E: What is the difference between savings and required
downpayment at a specified month—say 8 months hence?
Figure 4-6 shows the monthly answers for labels A, B, and C
for the first 12 months.
Label A .
Required Label B Label C
Month Downpayment Savings Difference
(4000) (2000)
1 4020.00 2205.00 —1815.00
2 4040.10 2412.05 —1628.05
3 4060.30 2621.17 —1439.13
4 4080.60 2832.38 —1248.22
5 4101.01 3045.71 —1055.30
6 4121.51 3261.16 — 860.35
7 414212 3478.77 — 663.34
8 4162.83 3698.56 — 464.27
9 4183.64 3920.55 — 263.09
10 4204.56 4144.75 — 59.81
11 4225.58 4371.20 145.62
12 4246.71 4599.91 353.20
*Note that the calculation assumes the monthly amount to be deposited at
the end of the month; this is an ordinary annuity in business parlance. The
Personal Investment Program in the Standard Pac, on the other hand,
assumes the monthly amount to be deposited at the beginning of the
month; this is an annuity due in business parlance.
Figure 4-6. Calculation Results