HP 17bII User's Manual | Page 197

HP Calculators User's Manual - 17bII.
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14: Additional Examples  197 

File name : English-M02-1-040308(Print).doc   Print data : 2004/3/9

  



interest rate. 

46  



Stores days until first 
payment. 

0  



No balloon payment. 

  



Calculates payment. 

 
Example: Loan with an Odd First Period Plus Balloon. A $10,000 
loan has 24 monthly payments of $400, plus a balloon payment of 
$3,000 at the end of the 24th month. If the payments begin in 8 days, 
what annual interest rate is being charged? 
 
Select equation ODD. 
 

Keys: Display:  Description: 

  

Creates menu. 

10000  
24  





Stores known values. 

400 &    

 

3000 & 
 8  

 





 

  



Calculates 

periodic 

(monthly) interest rate. 

* 12 = 



Annual interest rate. 

 

Canadian Mortgages  

In Canadian mortgages, the compounding and payment periods are not 
the same. Interest is compounded semi-annually while payments are 
made monthly. To use the TVM menu in the hp 17bII+, you need to 
calculate a 

Canadian mortgage factor to store as I%YR

 
1. Set End mode and store 12 . 

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