This Section is dedicated to the HP12c Crew.

We will be giving you tips and tricks to get the most out of your HP12c

Hosted By Alex lutkus

        Calculate  APR

Example 1: A borrower is charged 2 points for the issuance of his mortgage.

If the mortgage amount is $ 160,000 for 30 years and the interest rate is 5.5% per year, with monthly payments, what true annual percentage rate is the borrower paying?

 ( One point is equal to 1% of the mortgage amount.)

1. f ALG  ( Makes your hp12c calculate in AGL mode. If you have a hp12 skip this step.)

2. g  END

3. f  CLX  FIN ( This clears your calculator memory function. )

4.   30  g  12x  ( Display 360.00 ) Months

5.   5.5  g  12÷  (Display 0.46 ) % of monthly interest rate.

6.   160,000  PV (Display 160,000.00) Loan Amount

7. PMT  ( Display  -908.46 ) Monthly Payment Calculated.

8. RCL  PV  -  2 %  PV  ( Display 156,800.00 ) Actual amount received by borrower.

9.  I   ( Display 0.47 ) % monthly interest rate calculated.

10.  X  12 =  ( Display 5.68 ) Annual Percentage Rate.