Victor Technology V12 - Manual (Page 15)

V I C T O R T E C H N O L O G Y
15
To select payment type:
Touch r END if the payment will be made at the end of the period.
Touch r BEG if the payment will be made at the beginning of the period.
Most transactions utilize an End of the period payment. Note: This manual will
only show examples using End of the period payments.
If the BEGIN icon is not showing on the display, the payment function is set to
END.
The special relationship between i
. and n .
In compound interest problems, the interest rate entered into i must correlate
to the compounding period n in time (as in years, days, months, etc.)
Determining Interest Rate: Solving for i
.
¾ Touch b CLEAR FIN to reset financial registers
¾ Enter the number of payment periods and touch n .
¾ Enter the present value of the loan and touch PV.
¾ Enter the payment value per period (a negative number) and touch
PMT.
¾ Enter the future value of the amount owed at the end of the payment
periods, touch CHS to make the number negative, and touch FV.
Note: If the amount owed at the end of the loan period will be zero, this
step can be skipped.
¾ Touch the i key to calculate the interest rate per period.
Example
ENTRIES (RPN) DISPLAY
b FIN
0.00
Clears the financial registers.
360 n .
360.00
Enters 360 months for a 30 year loan.
400000 PV
400,000.00
Enters the loan amount of $400,000.
2398.202 CHS PMT
-2,398.20
Displays the monthly payment