HP 30b Business Professional Calculator - Manual (Page 44)

Canadian Mortgages: TVM Canada 36
Canadian Mortgage Example
Calculate the monthly payment for a 25-year (N=300) Canadian mortgage valued at
350,000.00, if the nominal interest rate is 6.0%, compounded twice yearly (C/YR=2) with 12
payments per year (P/YR). The example is calculated with RPN set as the operating mode.
To reset the menu, press
:x
. With TVM displayed, press
I
. At the TVM Reset
prompt, press
I
to reset, or
O
to cancel. To exit the menu, press
O
once
again. With the menu in its default settings, P/YR and C/YR are both set to 12 payments/
compounding periods per year.
Table 4-1 Canadian Mortgage Example
Keys Display Description
:u Opens the Mode menu, starting with the
current FIX value (number of digits to the
right of the decimal point).
>I Scrolls to TVM mode and sets mode to
TVM Canada.
O Returns to default calculator screen.
:[12
I<2
I Opens P/YR menu. Inputs 12 for P/YR
and 2 for C/YR.
O300
N6Y35
0000
V Exits menu and inputs values for N, I/YR,
and PV.
M Calculates the monthly payment as
required by the example.