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Help with an HP calulator

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HP10Bii plus Financial

I need help figuring out how to solve a financial question with my HP10ii + Financial Calculator. Her is the question.


Consider a standard mortgage (360 months) with monthly payments and a nomonal rate (compounded monthly) of 6.9%. What portion of the payments during the first 31 months goes toward principal?


Can you help me with teh formula and key strtokes please.

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Hi!, @mstawicki1960:


See, this link, if serve for you ...

Kind Regards !.
Have a nice day !.
@Maké (Technical Advisor Premium - HP Program Top Contributor).
Provost in HP Spanish Public Forum ...
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I think we have to solve this problem in several steps.

The first step is to determine the payment per month.


We can assume that the initial value is 1000, and we want the final value to be 0 in 360 months.


Do you know how to calculate this?


It is explained on page 63 of the user’s guide:


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Let’s assume you’re borrowing $100 000 for 360 months @6.9% per year and 12 payments per year.


Set payments to 12 per year:

12 OrangeShift P/YR (on PMT key)


Enter TVM data

type 360 press N

type 6.9 press I/YR

type 100000 press PV

type 0 press FV

press PMT to see payments of -658.60


Now enter:

31 INPUT then OrangeShift AMORT (on FV key)


screen shows 31 - 31


pressing “=” cycles through the following data:


=   (shows 99.29, amount paid towards principal for 31st payment only)


=   (shows 559.31, amount paid as interest for 31st payment only)


=   (shows 97171.95 amount outstanding)



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