|Re: Confused simple accountant: TMV HP17 v HP12|
Message #2 Posted by MBlount on 17 Sept 2011, 9:39 a.m.,
in response to message #1 by Paul
When you enter a non-integer value for n in the 12c it enters odd-period mode and doesn't assume a payment until the first full period. In your example using 1 payment per year the 12c gives you 1/2 of a year interest, then one-year interest plus a payment, and finally another year's interest plus a payment.
The calculation looks like this
Bal Int Pmt Bal
100.00 5.00 0.00 105.00
105.00 10.50 10.00 125.50
125.50 12.55 10.00 148.05
The 17bii doesn't do odd periods like that. When you key in 2.5 periods, it gives you 2.5 payments. You get an additional $5 at the end of the partial period that you don't get with the 12c.
edit: Sorry, I don't do tables well. The column headings should be Beginning Balance, Interest, Payment, and Ending Balance
Edited: 17 Sept 2011, 9:46 a.m.