Odd-period calculations, Advance payments, Modified internal rate of return – HP 17bII+ User Manual
Page 253
B: More About Calculations 253
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9
Odd-Period Calculations
−
−
+
Ч
=
−
+
−
+
Ч
Ч
Ч
−
+
1
30
1
(1
)
(1
)
(1
)
N
N
DAYS
PV
i
i
i
S
PMT
FV
i
i
Where: PV = loan amount
i = periodic interest rate as a decimal
DAYS = actual number of days until the first payment
PMT = periodic payment amount
N = total number of payments
FV = balloon payment amount
S = 1 if DAYS < 30
S = 0 if DAYS
≥ 30
Advance Payments
(
#
)
(1
)
1
(1
)
#
N
N
ADV
PV
FV
i
PMT
i
ADV
i
−
−
−
−
−
+
=
−
+
+
where: PMT = payment amount
PV = loan amount
FV = balloon payment amount
i = periodic interest rate (as a decimal)
N = total number of payments
#ADV = number of payments made in advance
Modified Internal Rate of Return
1
100
1
n
P
N
NFV
MIRR
NPV
=
−
−
where:
n = total number of compounding periods
NFV
P
= net future value of positive cash flows
NPV
N
= net present value of negative cash flows