HP 17bII User's Manual | Page 71

HP Calculators User's Manual - 17bII.
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5: Time Value of Money 

71 

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

 
Step 2. Calculate the balloon payment after 4 years. 
 
894.33 &  
  



Stores rounded PMT value 
for exact payment amount 
(no fractional cents).

4 @  



Figures and stores number 
of payments in 4 years.

 

  



Calculates balloon payment 
after four years. This 
amount plus last monthly 
payment repays the loan. 

 

Savings Calculations 

Example: A Savings Account. You deposit $2,000 into a savings 
account that pays 7.2% annual interest, compounded annually. If you 
make no other deposits into the account, how long will it take for the 
account to grow to $3,000? Since this account has no regular payments 
(PMT=0), the payment mode (End or Begin) is irrelevant. 

3,000

_2,000

0

7.2

1

 

 

 

*The PMT stored in the previous step is the 12-digit number—894.330557971. 

The calculation of the balloon payment must use the actual monthly payment 
amount: the rounded number $894.33, an exact dollars-and-cents amount. 

0.550913s