HP12c additional principal payment in amortization?
01-18-2015, 09:56 PM
Post: #1
 caccorsi Junior Member Posts: 2 Joined: Jan 2015
HP12c additional principal payment in amortization?
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
01-18-2015, 10:30 PM
Post: #2
 rprosperi Senior Member Posts: 3,769 Joined: Dec 2013
RE: HP12c additional principal payment in amortization?
(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

--Bob Prosperi
01-19-2015, 03:26 AM
Post: #3
 caccorsi Junior Member Posts: 2 Joined: Jan 2015
RE: HP12c additional principal payment in amortization?
Thank you!! Exactly what I was looking for.
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