User`s guide

Time Value of Money Calculations

The AMORT key on the HP 10bII+ allows you to calculate.

• The amount applied to interest in a range of payments.

• The amount applied to principal in a range of payments.

•The loan balance after a specified number of payments are made.

The \Ê function assumes you have just calculated a payment or you have stored the

appropriate amortization values in I/YR, PV, FV, PMT, and P/YR.

The numbers displayed for interest, principal, and balance are rounded to the current display

setting.

To Amortize

To amortize a single payment, enter the period number and press \Ê . The HP 10bII+

displays the annunciator PER followed by the starting and ending payments that will be

amortized.

Press

4 to see interest (INT). Press 4 again to see the principal (PRIN) and again to see

the balance (BAL). Continue pressing 4 to cycle through the same values again.

To amortize a range of payments, enter starting period number

Æ ending period number,

then press

\Ê. The HP 10bII+ displays the annunciator PER followed by the starting

and ending payments that will be amortized. Then press

4 repeatedly to cycle through

interest, principal, and balance.

Press \Ê again to move to the next set of periods. This auto-increment feature saves

you the keystrokes of entering the new starting and ending periods.

Table 6-17 Keys for storing the amortization values

Keys Description

Annual nominal interest rate.

Starting balance.

Ending balance.

Payment amount (rounded to the display format).

\Í

Number of payments per year.