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

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Section 3: Basic Financial Functions 71
File name: hp 12c pt_user's guide_English_HDPMF123E27 Page: 71 of 275
Printed Date: 2005/8/1 Dimension: 14.8 cm x 21 cm
Keystrokes Display
1
f!
–1,093.75
Portion of first payment applied to
interest.
~
–404.37
Portion of first payment applied to
principal.
1
f!
–1,091.98
Portion of second payment applied to
interest.
~
–406.14
Portion of second payment applied to
principal.
:n
2.00
Total number of payments amortized.
If you want to generate an amortization schedule but do not already know the
monthly payment:
1. Calculate PMT as described on page 58.
2. Press 0n to reset n to zero.
3. Proceed with the amortization procedure listed on page 69 beginning with
step 6.
Example:
Suppose you obtained a 30-year mortgage instead of a 25-year
mortgage for the same principal ($250,000) and at the same interest rate (5.25%)
as in the preceding example. Calculate the monthly payment, then calculate the
amounts applied to interest and to the principal from the first month’s payment.
Since the interest rate is not being changed, do not press
f
CLEAR
G
; to
calculate PMT, just enter the new value for n, reset PV, then press
P
.
Keystrokes Display
30
gA
360.00
Enters n.
250000
$
250,000.00
Enters PV.
P
–1,380.51
Monthly payment.
0
n
0.00
Resets n to zero.
1
f!
–1,093.75
Portion of first payment applied to
interest.
~
–286.76
Portion of first payment applied to
principal.
:$
249,713.24
Remaining balance.

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