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MGT2
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Key strokes for specific HP12c calculation

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HP12c
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I need the keytrokes to calculate the balance of a loan after the 237th payment.

Loan 61,900 US

Rate 8% annual percentage rate

Term 300 monthly payments

What is the balance outstanding on the loan after the 237th payment

The 211 page user manual does not seem to have that procedure, or I have not found it!!!

Thanks! 

 

 

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Maké
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David_M
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The financial concept you're referring to is known as amortization, and the pertinent documentation in the 12c user's guide starts on page 54 of the manual (at least the one I have).  Examples with keystrokes are shown in that section.

 

In your case, you'll need to do this in three steps:

  1. Compute the payment amount based on the given values
  2. Reset the periods to 0, then compute the amortization for 237 periods
  3. Check the remaining principal balance with RCL PV

Make sure to read the special note referenced with the "*" for the first paragraph of that section.  It contains important information regarding the rounding of intermediate values for amortizations done on the 12c.

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