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Vero3
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Solved!

I can't amortize 6 payments

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HP10bII+

When I try to amortize a range of six payments in a mortgage, because the mortgage was opened mid-year, hence, I want to amortize payments 1-6, the calculator inserts 12 payments.  I can't get it to stop doing that, and of course all the answers are wrong.

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David_M
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What are the steps you are taking to obtain the amortization?  It's difficult to know how to help without more detail of what you're trying to do.

 

Start from a scenario where all of your TVM variables are cleared, then show us the steps you are taking and their results.  Otherwise, it's going to be difficult to provide any meaningful assistance.

 

Something like the following would be helpful, but using your data instead of this example:

 

bs-C MEM TVM

(END mode assumed)

12 P/YR

30 N

3 I/YR

150000 PV

0 FV

(solve for) PMT

 

Result: -5196.09

 

1 INPUT 6 rs-AMORT

Result:

= (PRIN)   -29107.94

= (INT)   -2068.60

= (BAL)   120892.06

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Maké
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Hi!, @Vero3 :

 

Try, with this examples ... https://toughnickel.com/personal-finance/How-to-Find-Answer-Amortization-Problem-with-an-HP-10bII-Ca...

Kind Regards !.
Have a nice day !.
@Maké (Technical Advisor Premium - HP Program Top Contributor).
Provost in HP Spanish Public Forum ... https://h30467.www3.hp.com/
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Vero3
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When I try your example, I am with you up to the PMT result. 

Then I enter:

1

the equal sign,

6

orange key

AMort. 

The result that I get is: 1 - 12 instead of 1-6.

Since it has calculated the info for the entire year instead of three months, i get the wrong answer.

 

I don't understand why it is not accepting the range of payment 1 through 6.

 

Vero3

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Vero3
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What do you mean by rs-amrt? what does the rs mean?

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David_M
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"rs" was meant as "red shift" (as opposed to "blue shift").  On my 10bII+, it's more red than orange -- sorry for the confusion.

 

Note that when entering the range of months, it's

 

1 INPUT 6 AMORT

 

not

 

1 = 6 AMORT

 

The INPUT key is in the leftmost column, second row down.  Try that and see if it works better for you.

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Vero3
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YES!

a BIG thank you to you.

Vero3

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Maké
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Hi!, @Vero3 :

 

Learn, from ... https://support.hp.com/us-en/document/bpia5036

Kind Regards !.
Have a nice day !.
@Maké (Technical Advisor Premium - HP Program Top Contributor).
Provost in HP Spanish Public Forum ... https://h30467.www3.hp.com/
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David_M
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Glad you got it working!  The 10bII+ has tons of features packed into a small package, and it definitely takes some time to get used to how it operates.  Once you get familiar with it, though, I think you'll find it's very versatile.  Probably one of the best feature-per-dollar-spent calculators that HP offers right now.

 

 

 

Disclaimer: I'm not an employee, nor do I own any stock.  I'm just a fan of HP's calculators.

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Maké
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The best financial calculators in the history of HP, are the HP-12C (gold) and HP-12CP (platinum).

Kind Regards !.
Have a nice day !.
@Maké (Technical Advisor Premium - HP Program Top Contributor).
Provost in HP Spanish Public Forum ... https://h30467.www3.hp.com/
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