|Simple financial problem with a HP-12c Platinum|
Message #1 Posted by Lapin on 2 Nov 2012, 3:45 p.m.
First of all sorry if you see any grammatical mistakes, English is not my mother tongue.
So, in my job I must frequently calculate loans, with the customers.
I can't have a PC with Excel at my clients's office, so I bought a HP-12c Platinum.
But I can't do the calculation I want.
For example, a lease for 84 months with 8% interest per year, for a total funding of € 15,000
I would know how much the customer pays per month, and know what will be the balance at 63 months, and add 10% early termination fee.
And if possible I would also like to have a view of the amortization schedule to know from when it makes sense to buy.
What I do :
15'000 [CHS] [PV]
But when I hit [PMT] for see how my customer pay per month, I have this result : 1'112,84 instead of 232.24
Where did I make mistake ?