Finance Calculator

Formatting only. This does not change the calculation.
The register left blank on a financial calculator. Its input below is ignored.
Payment periods, or years if the helper below is set to multiply by the periods a year (the 12C "g 12×" key). A fractional n is an odd period, not a fractional exponent.
Percent per period, or an annual rate if the helper below divides it (the 12C "g 12÷" key). Full precision is kept: 14.25% / 12 is stored as 1.1875%, not the displayed 1.19%.
The 12C keys assume 12 (monthly). Use 4 for quarterly or 2 for semi-annual periods, which the handbook does by hand.
Cash-flow sign convention: money received is positive, money paid out is negative. A loan you receive is a positive PV.
Negative for payments you make, positive for payments you receive. Ignored when solving for PMT.
The balance at the end. Zero for a fully repaid loan; negative for a balloon you will pay.
Only matters when the n you typed is not a whole number.
PMT - payment each period
-523.99
Financial Calculator (TVM Solver)
n - periods (exact)
348.0000
n as the 12C stores it
348
i - rate per period
1.187500 %
Rate × periods per year
14.2500 %
PV - present value
43,400.00
FV - future value
0.00
Worked out from HP, hp 12c financial calculator user's guide (H Edition 4), Appendix D 'Formulas Used' p. 185, n rounding p. 40-41, sign convention pp. 36-37, odd periods pp. 50-53, Error 5 p. 183 and 3 other sources.
Sign convention: money received is entered positive, money paid out negative. Results follow the same rule.

How this is worked out

5 steps
  1. n = 29 years × 12 = 348 periods (the 12C "g 12×" step).
  2. i = 14.25% / 12 = 1.1875% a period, kept at full precision (the 12C "g 12÷" step).
  3. v = (1 + i)^-n = 0.0164380614; a = (1 + i × S)(1 - v)/i = 82.8262685144 with S = 0.
  4. PMT = -(PV × PV factor + FV × v) / a = -523.99.
  5. Check: substituting all five registers back into the equation gives 0.00.

Results are general information, not financial, tax, legal, medical or engineering advice.