HP 10B - Manual (Page 72)

Amortize the !U:cond year;
РЕПЗ-24 Displa)*s next range of
periods.
0
Int Displays interest paid in
-7,731.67 second year.
0 Prin Displays principal paid in
-516.17 second year.
0
bAL Displays loan balance
79,015.41 after 24 payments.
The amount paid toward interest and principal (7,731,67 + 516.17 »
8,247JM) equals the total of 12 monthly payments (12 x 68732 *
8,24734). The remaining balance equals the initial mortgage less the
amount applied toward principal (80,000 - 468.42 - 516.17 » 79,015.41).
More money is applied to principal during the second rather than (he first
>rar. The succeeding years continue in the same fashion.
Example: Amortizing a Single Payment.
Amorti/c the 1st, 25ih,
and 54th payments of a five >%ar car lease. The lease amount is $14,250
and the interest rate is 11.5%. Payments arc monthly and begin
immediately.
Set to Begin mode. Press
Key»:
i2i(EZXB)
5ШШШ
та 11.5
14250
0
Display:
12.00
60.00
11.50
14,250.00
0.00
-310.42
if annunciator is not displayed.
Description:
Sets payments per year.
Stores number of
payments.
Stores interest per year.
Stores prc.scnt value.
Stores the future value.
Calculates monthly
payment.
S: Tin. УЫи. «I М.П.У CrSculaUon. S9