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sheps78
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Solved!

"running" staying on my screen

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HP 10bII+

"running" stays on my screen and the calculation isn't going away.

 

I'm taking a Foundations of Real Estate Mathematics course and just familiarizing myself with the financial calculator, running through some of the exercises provided by my course.

 

Here's the problem:

"A $60,000 mortgage loan, written at j12 = 12% has a three year term and monthly payments based on a 20 year amortization period. Payments were rounded up to the next higher cent. What is the outstanding balance of the mortgage at the end of its term? i.e., what is the outstanding balance just after the 36th payment (OSB36) has been made?"

 

The solution they provide is as follows:

12 I/YR

12 P/YR

60000 PV

240 N

0 FV

PMT

 

The payment is -660.651680142

 

Actual payments are rounded up to the nearest cent: -660.66

 

The next part of the solution is provided as follows:

 

660.66 +/- PMT

N

36 INPUT AMORT

= = =

 

According to my manual, the outstanding balance after the 36th monthly payment should be $57,386.96. However my calculator doesn't go past "running" after I hit the AMORT key.

 

I am using the red shift key for financial functions at the appropriate points.

 

Any suggestions?

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BartdB
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Hi,

 

I followed your steps exactly on my 10BII+ and got the answer without any problems (although it showed 57,386.95). It did not hang at "running".

 

All I can think of is to try new batteries as marginally low batteries can cause funny behaviour.

 

EDIT:  there is also a reset hole in the battery compartment, prod it gently with a bent open paper clip.

 

Regards.

-Bart
_________________________________________________________
calculator enthusiast
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sheps78
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Thanks for checking the work. I'll try a new battery

 

EDIT: New batteries and the rest button didn't resolve this issue. Thanks again. I'm going to try contacting HP next.

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sheps78
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I have something new to add. I just tried the above problem with a decimal place fixed at 2 places and it worked.

 

However, my course manual is clear I should use a floating decimal place for the course work.

 

I have tried some similar problems to the one I laid out above and continued to run up against the "running" issue.

 

Does this suggest any other solutions?

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sheps78
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I just got off the phone with HP support. The problem has to do with a setting and legal requirements for decimal places in financial calculations in Canada. I didn't quite follow the reason for the problem, but the fix was a simple one:

 

Shift

=

Decimal Place

Shift

=

->M

 

That last button is the button above the "8" key.

 

Once I ran through that sequence my calculator delivered the answer I needed.

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