(11C) Loan Repayments

[Gamo]

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

Answer:
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