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+--- Thread: HP12c additional principal payment in amortization? (/thread-2880.html)
HP12c additional principal payment in amortization? - caccorsi - 01-18-2015 09:56 PM
Hi,
Does anyone know how (or if it's possible) to calculate an amortization schedule with additional principal payments on an HP 12c?
For example.
PV = 100,000
n = 30 x 12
i = 3.0 / 12
Solving for PMT = -421.60.
I'd like to add an additional -500 to the PMT then solve again for n so see how quickly the loan is paid off.
Thank you
RE: HP12c additional principal payment in amortization? - rprosperi - 01-18-2015 10:30 PM
(01-18-2015 09:56 PM)caccorsi Wrote: Hi,
Does anyone know how (or if it's possible) to calculate an amortization schedule with additional principal payments on an HP 12c?
For example.
PV = 100,000
n = 30 x 12
i = 3.0 / 12
Solving for PMT = -421.60.
I'd like to add an additional -500 to the PMT then solve again for n so see how quickly the loan is paid off.
Thank you
After solving for the initial payment, just add $500 (or subtract, depending on sign convention) to get the new total $921.60, press PMT, then press N to get the new number of payments, 127
RE: HP12c additional principal payment in amortization? - caccorsi - 01-19-2015 03:26 AM
Thank you!! Exactly what I was looking for.