HP (Hewlett-Packard) Calculator HP 12C Financial Calculator User Manual

4.7

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Section 14: Leasing 205
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 205 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
Example 2:
Using the preceding program, solve for the monthly payment using
the information given in example 1. Then change the yearly interest to 15% and
solve for the new payment amount.
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
f]
f[
12
?
0 12
?
0
12.00
Duration of lease.
3
?
1 3
?
1
3.00
Number of advance
payments.
10
\
12
z
10
z
12
³
0.83
?
2
?
2
0.83
Periodic interest rate.
750
?
3
t
750
?
3
t
64.45
Monthly payment to be
received.
15
\
12
z
15
z
12
³
1.25
?
2
t
?
2
t
65.43
Monthly payment to
achieve a 15% yield.
Example 3:
Using the information from example 1, what monthly payment is
necessary to yield the lessor 15% annually if one payment is due at the time of
closing
?
Assuming that the previous example was just solved, the keystrokes are as follows:
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
1
?
1
t
1?1t
66.86
Monthly payment to be
received.
Since this problem is an annuity due situation (one payment at the beginning of the
period) the calculation could also be done as follows:
Keystrokes
(RPN mode)
Keystrokes
(ALG mode)
Display
g×
g×
f
CLEAR
G
f
CLEAR
G
12
n
12
n
12.00
Duration of lease.
15
gC
15
gC
1.25
Periodic interest rate (into i).
750
Þ$P
750
Þ$P
66.86
Monthly payment to be
received.

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