HP 32SII - Manual (Page 290)

17–4 Miscellaneous Programs and Equations
File name 32sii-Manual-E-0424
Printed Date : 2003/4/24 Size : 17.7 x 25.2 cm
Variables Used:
N The number of compounding periods.
I The periodic interest rate as a percentage. (For example, if
the annual interest rate is 15% and there are 12 payments
per year, the periodic interest rate, i, is 15
÷ 12=1.25%.)
B The initial balance of loan or savings account.
P The periodic payment.
F The future value of a savings account or balance of a loan.
Example:
Part 1. You are financing the purchase of a car with a 3–year (36–montld)
loan at 10.5% annual interest compounded monthly. The purchase price of
the car is $7,250. Your down payment is $1,500.
B = 7,250 _ 1,500
I = 10.5% per year
N = 36 months
F = 0
P = ?
Keys: Display: Description:
z ž { % }
2
 Selects FIX 2 display format.
{ G ( z
˜ as needed )
Rº
º1.1- Displays the leftmost part of the
TVM equation.
{ œ P @ value  Selects P; prompts for I.
10.5 š 12
p
@
)  Converts your annual interest rate
input to the equivalent monthly
rate.
f @ value  Stores 0.88 in I; prompts for N.