HP 17bII User Manual

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.

HP 17bII Specifications

General

Brand	HP
Model	17bII
Category	Calculator
Language	English