HP 12c financial calculator Manuale Utente

 

File name: hp 12c_user's guide_English_HDPMBF12E44 

Page: 126 of 209   

Printered Date: 2005/7/29   

Dimension: 14.8 cm x 21 cm 

 

Example 3: Again using the information given in example 1, what is the APR if 
the mortgage fee is stated as 2 points plus $150? 

g 

 

fCLEARG 

 

30gA 

Months (into n) 

11.5gC 

Percent monthly interest rate (into i). 

60000$ 

60,000.00  Loan amount (into PV). 

P 

Monthly payment (calculated). 

:$2b- 

58,800.00   

150-$ 

58,650.00  Effective mortgage amount (into PV). 

¼ 

Monthly interest rate (calculated). 

12§ 

Annual percentage rate. 

Mortgages may be bought and/or sold at prices lower (discounted) or higher (at a 
premium) than the remaining balance of the loan at the time of purchase. Given 
the amount of the mortgage, the periodic payment, the timing and amount of the 
balloon or prepayment, and the desired yield rate, the price of the mortgage may 
be found. It should be noted that the balloon payment amount (if it exists) occurs 
coincident with, and does not include, the last periodic payment amount. 

Information is entered as follows: 

1. Press g and fCLEARG. 
2.  Key in the total number of periods until the balloon payment or prepayment 

occurs; press n. (If there is no balloon payment, key in total number of 
payments and press n.) 

3.  Key in the desired periodic interest rate (yield) and press ¼. 
4.  Key in the periodic payment amount; press P.* 
5.  Key in the balloon payment amount and press M.* (If there is no balloon 

payment, go to step 6.) 

6. Press $ to obtain the purchase price of the mortgage. 

                                                 

*

 Positive for cash received; negative for cash paid out.