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HP HP-12c Manual

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42 Section 3: Basic Financial Functions
If the answer calculated is not an integer (that is, there would be nonzero digits to
the right of the decimal point), the calculator rounds the answer up to the next
higher integer before storing it in the n register and displaying it.
8
For example,
if n were calculated as 318.15, 319.00 would be the displayed answer.
n is rounded up by the calculator to show the total number of payments needed:
n–1 equal, full payments, and one final, smaller payment. The calculator does
not automatically adjust the values in the other financial registers to reflect
n equal payments; rather, it allows you to choose which, if any, of the values to
adjust.
9
Therefore, if you want to know the value of the final payment (with
which you can calculate a balloon payment) or desire to know the payment value
for n equal payments, you will need to press one of the other financial keys, as
shown in the following two examples.
Example 1: You’re planning to build a log cabin on your vacation property. Your
rich uncle offers you a $35,000 loan at 10.5% interest. If you make $325
payments at the end of each month, how many payments will be required to pay
off the loan, and how many years will this take?
8.
The calculator will round n down to the next lower integer if the fractional portion of n is less
than 0.005.
9.
After calculating n, pressing ¼,$,P, or M will recalculate the value in the
corresponding financial register.
Keystrokes Display
fCLEARG
10.5gC
0.88
Calculates and stores i.
35000$
35,000.00
Stores PV.
325ÞP
–325.00
Stores PMT (with minus sign for
cash paid out).
gÂ
–325.00
Sets the payment mode to End.
n
328.00
Number of payments required.
12z
27.33
Twenty-seven years and four
months.
… 42 …


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