HP 12C Financial calculator - Manual (Page 48)

48 Section 3: Basic Financial Functions
File name: hp 12c_user's guide_English_HDPMBF12E44 Page: 48 of 209
Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm
Calculating the Future Value
1. Press fCLEARG to clear the financial registers.
2. Enter the number of payments or periods, using n or A.
3. Enter the periodic interest rate, using ¼ or C.
4. Enter either or both of the following:
z Present value, using $.
z Payment amount, using P.
Note: Remember to
observe the cash flow sign
convention.
5. If a PMT was entered, press g× or g to set the payment mode.
6. Press M to calculate the future value.
Example 1: In Example 1 on page 46, we calculated that the payment amount
on a 29-year, $43,400 mortgage at 14
1 /
4
% annual interest is $523.99. If the
seller requests a balloon payment at the end of 5 years, what would be the
amount of the balloon?
Keystrokes Display
fCLEARG
5gA
60.00
Calculates and stores n.
14.25gC 1.19 Calculates and stores i.
43400$ 43,400.00 Stores PV.
523.99ÞP –523.99 Stores PMT (with minus sign for cash
paid out).
g –523.99 Sets payment mode to End.
M –42,652.37 Amount of balloon payment.