![]() ![]() ![]() Input 9.9 into the calculator and then press the 1/YR button. Now let’s input the interest rate 1/YR in to the calculator.Type 60 into the calculator and then press the N button. Next let’s input the time of the loan in months, which is 60.First clear your calculator memory by pressing the orange button and then pressing the C ALL button.To do input the data into your calculator follow these steps: Now that you have your loan information, now it’s time to input the data into your HP calculator. PMT – this field remains blank as this will be our answer.FV – 0 (this amount is almost always zero, unless it is a balloon mortgage).PV – 9700 (this is the present value of the loan, in this case $9700 without the $ symbol).1/YR – 9.9 (this is the interest rate of the loan without the % symbol).N– 60 (this is the number of payments in months).So if you have a loan for $9700 at 9.9% for five years and you would like to find out the monthly payment, then you can find it out easily using the HP 10bII calculator.įor example: If you want to calculate the monthly payment for the above loan, then you will need to have all the other values (N, 1/YR, PV, and FV) to solve for PMT (Payment). This is a brief tutorial that will show you have to use the HP 10bII financial calculator to amortize a loan.įirst you will need to find answers to all of the following questions (bulleted below) except one of them, which is the one you will be solving for in this case PMT – Monthly Payment.
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