(11C) Loan Repayments
11-13-2018, 01:37 PM
Post: #1
 Gamo Senior Member Posts: 711 Joined: Dec 2016
(11C) Loan Repayments
Program to calculate for "Loan Repayments"

n = number of payments
i = Interest Rate in Percent
PMT = Payment
PV = Principal

Formula Used:

Procedure:

Interest Rate [A] Principal [R/S] Payment [R/S] --> Answer

Example:

This Example is from HP-38C Owner's Handbook.

Bill Buckskin wished to invest in a $22,000 log carbin to keep the rain off. A local merchant has offered to loan Bill the$22,000 at 10.5% interest.
Making \$200 monthly payments, how long will it take Bill to repay his mortgage?

10.5 [A] 22000 [R/S] 200 [R/S] --> 376.89

376.89 // Months
12 ÷ Answer 31.41 // Years

Program:
Code:
 LBL A EEX 2 ÷ 12 ÷ STO 0 R/S x R/S ÷ 1 X<>Y - 1/x LN RCL 0 1 + LN ÷ RTN

Gamo
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 Messages In This Thread (11C) Loan Repayments - Gamo - 11-13-2018 01:37 PM RE: (11C) Loan Repayments - Albert Chan - 11-13-2018, 03:09 PM RE: (11C) Loan Repayments - Gamo - 11-14-2018, 05:20 AM RE: (11C) Loan Repayments - Dieter - 11-17-2018, 06:03 PM

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