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Full Version: (17BII and 17BII+) Finance Solver Equations
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Sales Tax

Determine the total amount of taxable items and non-taxable items.

Code:
`AMT=NTAX+TXBL*(1+R%÷100)`

AMT: Total Amount
NTAX: Items not subject to sales tax
TXBL: Items subject to sales tax
R%: sales tax rate

Example 1: A company purchases equipment which costs \$99.99, which was subject to 9.5% sales tax, which includes \$139.99 of services. The services are not subject to sales tax. What is the total invoice?

Input:
NTAX: 139.99
TXBL: 99.99
R%: 9.5(%)

Output:
AMT = 249.48

The total of the invoice is \$249.48.

Substantial Presence Test

Code:
`SPT=IF(L(X:DDAYS(D:12.31+FP(100*D)÷100:1)>183:DATE(D:183):DATE(1.01+(FP(100*D)+.0001)÷100:IP(183-G(X)÷3)))`

STP: Number of days calculated for the Substantial Presence Test
D: Date (in the format DD.MMYYYY)

Example 1:

D: 1.052019 (1/5/2019), SPT = 7.072019 (7/7/2019)

Example 2:

D: 6.182008 (6/18/2008), SPT = 12.182008 (12/18/2008)

Financing the Purchase of an Automobile

This equation deals with the purchase of an automobile.

Code:
`AUTO:PRICE*(1-DISC%*.01)*(1+STAX%*.01)-DOWN=PMT*USPV(I%÷12:YRS*12)`

PRICE: Sticker price of the automobile
DISC%: Discount percent
STAX%: Sales tax rate
DOWN: Down payment (amount)
PMT: Payment of the loan
I%: Interest rate of the loan
YRS: Number of years of the loan

Example 1: The sticker price of a car is \$28,000.00. A discount of 15% is offered. The car is subject to 10% sales tax. The dealer offers a 6-year loan at 4.5%. With \$2,000, what is the monthly payment?

Input:
PRICE: 28000.00
DISC%: 15
STAX%: 10
DOWN: 2000
I%: 4.5
YRS: 6

Output:
PMT = 383.83

The monthly payment is \$383.83.

Real Estate: Principal Interest Property Tax & Insurance (PITI)

Determine the total payment of mortgage when considering property tax and property insurance.

Code:
`PITI=MORT÷USPV(I%÷12:YRS*12)+(PROP\$+INS\$)÷12`

PITI: Payment including principal, interest, property tax, and insurance
MORT: Mortgage amount, price of the property
I%: Annual interest rate
YRS: Number of the years of the mortgage
PROP\$: Annual property tax
INS\$: Annual property insurance

Example: A buyer purchases a home with a price of \$200,000.00. The amount is to be financed. The loan lasts for 30 years and 5% interest rate. There is annual property tax of \$1,200.00 with insurance of \$395.95. What is the buyer's PITI?

Input:
MORT: 200000.00
I%: 5
YRS: 30
PROP\$: 1200.00
INS\$: 395.95

Output:
PITI = 1206.64

Retirement Accounts: Future Value and Earned Untaxed Dividends

Determine the future value and untaxed dividends of tax-free retirement accounts (IRS/Keogh).

Code:
`IRA:(VAL+DIV+L(X:USFV(i%:YRS)*(1+I%÷100)))*0+IF(S(VAL):G(X)*PMT-VAL:(G(X)-YRS)*PMT-DIV)`

Input Variables:
I%: Annual Interest Rate
YRS: Number of Years
PMT: Annual Payment

Output Variables:
VAL: Tax Free Value of the Retirement Account
DIV: Total Untaxed Dividends Earned

Example:
I%: 6.88
PMT: 1000.00
YRS: 40

Output (Results):
VAL = 206811.01
DIV = 166881.01

Source:
Tony Hutchins, Luiz Vieria, and Gene Wright "HP 12C Platinum Solutions Handbook" Hewlett Packard. Revised 03.04 2004