HP 15c - Manual (Page 31)

Section 1: Using _ Effectively 31
Example: You place $155 in a savings account paying 5¾% compounded monthly. What
sum of money can you withdraw at the end of 9 years?
Keystrokes Display
|¥
Run mode.
´CLEARQ
Clears financial variables.
´•2
´U Activates User mode.
|"0
Ordinary annuity.
9
v12*A 108.00 Enters n = 9 × 12.
5.75 v12÷B 0.48 Enters i = 5.75 / 12.
155
”C -155.00 Enters PV = −155 (money paid
out).
E¦ 259.74 Calculates FV.
If you desire a sum of $275, what would be the required interest rate?
Keystrokes Display
275
E 275.00 Enters FV = 275.
B¦ 0.53 Calculates i.
12 * 6.39 Calculates annual interest rate.
Example: You receive $30,000 from the bank as a 30-year, 13% mortgage. What monthly
payment must you make to the bank to fully amortize the mortgage?