HP 12c Owners Manual
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Page 151
151 File name: hp 12c_users guide_English_HDPMBF12E44 Page: 151 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Section 14 Leasing Advance Payments Situations may exist where payments are made in advance (leasing is a good example). These agreements call for extra payments to be made when the transaction is closed. This first procedure finds the periodic payment amount necessary to achieve a desired yield when a number of payments are made in advance. And, given the...
Page 152
152 Section 14: Leasing File name: hp 12c_users guide_English_HDPMBF12E44 Page: 152 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm If solving for the payment amount will be done repetitively, key in the following hp 12c program. KEYSTROKES DISPLAY KEYSTROKES DISPLAY fs 1 09- 1 fCLEARÎ 00- Þ 10- 16 g 01- 43 8P 11- 14 fCLEARG 02- 42 34$ 12- 13 :0 03- 45 0:1 13- 45 1 :1 04- 45 1+ 14- 40 - 05- 30:3 15- 45 3 n 06- 11~ 16- 34 :2...
Page 153
Section 14: Leasing 153 File name: hp 12c_users guide_English_HDPMBF12E44 Page: 153 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Example 2: Using the preceding program, solve for the monthly payment using the information given in example 1. Then change the yearly interest to 15% and solve for the new payment amount. Keystrokes Display 12?0 12.00 Duration of lease. 3?1 3.00 Number of advance payments. 10\12z ?2 0.83 Periodic interest rate. 750?3t 64.45 Monthly...
Page 154
154 Section 14: Leasing File name: hp 12c_users guide_English_HDPMBF12E44 Page: 154 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Solving for Yield To calculate the periodic yield, information is entered as follows: 1. Press g and fCLEARG. 2. Key in the total number of payments in the lease then press \. 3. Key in the total number of payments made in advance then press ?0-n. 4. Key in the periodic payment to be received then press P. 5. Key in the total amount of...
Page 155
Section 14: Leasing 155 File name: hp 12c_users guide_English_HDPMBF12E44 Page: 155 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm If solving for yield will be done repetitively, key in the following hp 12c program: KEYSTROKES DISPLAY KEYSTROKES DISPLAY fs :3 09- 45 3 fCLEARÎ 00- Þ 10- 16 g 01- 43 8:1 11- 45 1 fCLEARG 02- 42 34:P 12- 45 14 :0 03- 45 0§ 13- 20 :1 04- 45 1+ 14- 40 - 05- 30$ 15- 13 n 06- 11¼ 16- 12 :2 07- 45...
Page 156
156 Section 14: Leasing File name: hp 12c_users guide_English_HDPMBF12E44 Page: 156 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Keystrokes Display 25000?3t 17.33 Annual yield (as a percentage). 625?2t 19.48 Annual yield (as a percentage) when PMT is increased $25. Advance Payments With Residual Situations may arise where a transaction has advance payments and a residual value (salvage value) at the end of the normal term. Solving for Payment The following program...
Page 157
Section 14: Leasing 157 File name: hp 12c_users guide_English_HDPMBF12E44 Page: 157 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm REGISTERS n: Used. i: Interest PV: Used PMT: –1. FV: Residual R0: # Pmts (n) R1: Interest. R2: Loan. R3: Residual R4: # Adv. Pmt. R5: Used R6–R.6: Unused 1. Key in the program. 2. Key in the total number of payments then press ?0. 3. Key in or calculate the periodic interest rate then press ?1. 4. Key in the loan amount then...
Page 158
158 Section 14: Leasing File name: hp 12c_users guide_English_HDPMBF12E44 Page: 158 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Example 2: Using the information from example 1, what would the monthly payments be if the lessor desired a yield of 18% annually? Keystrokes Display 487.29 From previous example. 18\12z 1.50 Monthly interest rate. ?1t 520.81 Monthly payment received by lessor. Solving For Yield Solving for yield is essentially the same as solving for...
Page 159
Section 14: Leasing 159 File name: hp 12c_users guide_English_HDPMBF12E44 Page: 159 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Keystrokes Display §=gJ –4,710.00 Net amount of cash advanced. 145gK34ga 34.00 Thirty-four cash flows of $145.00. 0gK 0.00 Thirty-fifth cash flow. 1500gK 1,500.00 Thirty-sixth cash flow. fL12§ 18.10 Annual yield to lessor.
Page 160
160 File name: hp 12c_users guide_English_HDPMBF12E44 Page: 160 of 209 Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm Section 15 Savings Nominal Rate Converted to Effective Rate Given a nominal interest rate and the number of compounding periods per year, this keystroke procedure computes the effective annual interest rate. 1. Press g and fCLEARG. 2. Key in the annual nominal rate as a percentage, then press \. 3. Key in the number of compounding periods per year, then press...