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• HP 10BII FINANCIAL CALCULATOR AMORT MANUAL

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HP 10BII FINANCIAL CALCULATOR AMORT MANUAL

The manual shows PRINciple paid after the first 12 payments as "-1,579.8 4". There is a related defect in the HP 10bII+ User Guide p76 example. I made an Excel spreadsheet with 360 rows to prove to myself this is what is going on. But with cents display, you end up with a BALance of $3.00, which is correct if you made actual monthly payments to cents resolution for 30 years. With high resolution you end up with a BALance of $0.00 as expected. But now find amortization results for the last payment (#360) with display resolution set to 2 (cents, the typical default) versus 9 (or any high resolution). This is very useful, documented in the manual appendix that shows equation details, and has interesting impact.įor example, from the HP 10bII+ User Guide p76: P/YR = 12 N = 360 I/YR = 7.75 PV = 180,000 FV = 0 End Mode finds PMT = -1,289.54.

I've used HP Time Value of Money (TVM) calculators and programs for decades and just realized that my HP 10bII+ (and likely other HP calculators), when doing Amortization math, round BAL and PMT and INT to the current display resolution before doing the math.