Simple financial problem with a HP-12c Platinum



#2

Hi,

First of all sorry if you see any grammatical mistakes, English is not my mother tongue.

So, in my job I must frequently calculate loans, with the customers.
I can't have a PC with Excel at my clients's office, so I bought a HP-12c Platinum.
But I can't do the calculation I want.

For example, a lease for 84 months with 8% interest per year, for a total funding of € 15,000
I would know how much the customer pays per month, and know what will be the balance at 63 months, and add 10% early termination fee.
And if possible I would also like to have a view of the amortization schedule to know from when it makes sense to buy.

What I do :
84 [n]
8 [i]
15'000 [CHS] [PV]

But when I hit [PMT] for see how my customer pay per month, I have this result : 1'112,84 instead of 232.24

Where did I make mistake ?

Thanks you.


#3

You forgot to type 0 [FV] and you have to use 8 g[i] to set the interest rate per month as you set 84 periods (in month).

With that you get 233.79

Edited: 2 Nov 2012, 4:45 p.m.

#4

First of, congratulations on your decision to use a HP 12C.

Your mistake is simply failure to respect units. You have entered periods in months but interest in %/year. Either divide the annual interest by 12 and press 'i' or enter the annual interest rate as-is and press [g]i.

I suggest you refer to the manual - if you require it in your language please let me by PM know and I will send it to you.

Jeff


#5

It works, thanks !


Possibly Related Threads...
Thread Author Replies Views Last Post
  Simple Tetris. free for you to improve on cyrille de Brébisson 3 311 11-20-2013, 05:43 PM
Last Post: Erwin Ried
  10bii Financial Calculator is on launch sale - 0.99$ only John 4 309 11-10-2013, 08:02 PM
Last Post: BShoring
  HP 12C Platinum Programming v. Gold Face Dean Lewis 10 567 11-03-2013, 07:30 PM
Last Post: Kimberly Thompson
  [HP-Prime] Simple Game (Bugs) CompSystems 1 216 11-01-2013, 10:18 AM
Last Post: Han
  Simple Math Question Namir 2 203 08-09-2013, 06:13 PM
Last Post: Eddie W. Shore
  HP12C Platinum PC software activation fails Russell Clinton 0 187 07-02-2013, 02:32 PM
Last Post: Russell Clinton
  HP 12c Platinum Emulator Activation Server Problem Danny Farley 5 286 04-09-2013, 09:13 PM
Last Post: Danny Farley
  HP-42S with Electroluminescent screen and simple I/O port Jose Poyan 8 447 03-27-2013, 07:11 PM
Last Post: Jose Poyan
  HP-80 Financial Calculator (1973) BShoring 3 280 03-25-2013, 11:39 PM
Last Post: BShoring
  Simple sample programs for the HP-41CX? Tom Lewis 5 276 03-25-2013, 07:11 PM
Last Post: Allen

Forum Jump: