Humbly, I return to the Gods: HP12c Help! Message #1 Posted by CaribbeanHP12c on 22 Apr 2008, 2:27 p.m.
Hey everyone, i hope your week is off to a good start.
Quick question, been reading up on the HP12c manual from the last series of posts but again i've arrived at a bump in the road.
Different interest periods and conversion periods.
ex. You are saving for a sail boat, and you deposit 1000 every three months into a bank account which pays 8%, compounded annually. Find the amount you will have saved at the end of five years.
This is the formula way but how is this done with the HP12c?
PMT=1000
i=.08 (Compounded Annually)
n= 4x5=20
c=1/4
1000[(1+.08)^20^(1/4)1]
Anc= 
(1+.08)^(1/4)1
Anc = 1000(24.15910964599272)
Anc= $24,159.10964599272
I can't find the little step to either change the Interest to an effective rate ( i think that is what it is, so it's quarterly like the payments) or just input the above info and let it do its magic.
Again, you scholars are again adding to my education, thank you.
warmly,
Blake
