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

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50 Section 3: Basic Financial Functions
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 50 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
If the answer calculated is not an integer (that is, there would be nonzero digits to
the right of the decimal point), the calculator rounds the answer up to the next
higher integer before storing it in the n register and displaying it.
*
For example, if
n were calculated as 318.15, 319.00 would be the displayed answer.
n is rounded up by the calculator to show the total number of payments needed:
n–1 equal, full payments, and one final, smaller payment. The calculator does not
automatically adjust the values in the other financial registers to reflect n equal
payments; rather, it allows you to choose which, if any, of the values to adjust.
†
Therefore, if you want to know the value of the final payment (with which you can
calculate a balloon payment) or desire to know the payment value for n equal
payments, you will need to press one of the other financial keys, as shown in the
following two examples.
Example 1:
You’re planning to build a log cabin on your vacation property.
Your rich uncle offers you a $35,000 loan at 10.5% interest. If you make $325
payments at the end of each month, how many payments will be required to pay
off the loan, and how many years will this take
?
Keystrokes
(RPN mode)
Display
f
CLEAR
G
10.5
gC
0.88
Calculates and stores i.
35000
$
35,000.00
Stores PV.
325
ÞP
–325.00
Stores PMT (with minus sign for cash
paid out).
gÂ
–325.00
Sets the payment mode to End.
*
The calculator will round n down to the next lower integer if the fractional portion of n is less
than 0.005.
†
After calculating n, pressing ¼,$,P, or M will recalculate the value in the
corresponding financial register.

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