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12-C Calculator- Monthly Mortgage P&I Payment with both 360 and 365 int.? (184 Views)
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theloanarranger Student
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theloanarranger
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Registered: ‎04-10-2012
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12-C Calculator- Monthly Mortgage P&I Payment with both 360 and 365 int.?

‎04-10-2012 06:06 PM

I realize that you can see the interest on a monthly basis shown in both 360 and 365, but can you directly calculate a mortgage payment (that is principal & interest payment) on a loan using a 365 days of interest per year, vs. the default in the HP-12C which calculates it as 360 days of interest (because of the fact of dividing the interest by 12 using the g key)?

 

I have always been stymied on how you can calculate  that directly?  I just take the difference between the interest on 360 vs. 365 and add it to the payment, but that is not entirely accurate I don't think.

 

So basically what I am asking is there a setting or key strokes that can change the default P&I calculation from a 360days/yr interest calc to one using 365days/yr interest?

 

No one seems to know and it is not in any manual or publication that HP has on the 12-C that I can find?

 

Thanks.

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