# How do I use my HP 12c mortgage calculator?

Category:
business and finance
interest rates

Press " ." Press "n" (n is

**the**number of payments) and 240 appears on**the**display. You tell**the HP 12C**how many years your**mortgage**is, and it figures out how many monthly payments there are. Press "5." This is**the**annual interest rate in percentage form. Press " ." Press "i" and 0.42 is displayed.

Besides, how do you calculate a mortgage on a financial calculator?

**Equation for mortgage payments**

- M = the total monthly mortgage payment.
- P = the principal loan amount.
- r = your monthly interest rate. Lenders provide you an annual rate so you'll need to divide that figure by 12 (the number of months in a year) to get the monthly rate.
- n = number of payments over the loan's lifetime.

**amortize**a single payment, enter the period number and press SHIFT, then

**AMORT**. The

**HP 10bii**displays the annunciator PER followed by the starting and ending payments that will be

**amortized**. Press [=] to see interest (INT). Press [=] again to see the principal (PRIN) and again to see the balance (BAL).

Also question is, how do you calculate a loan payment?

**To calculate the monthly payment, convert percentages to decimal format, then follow the formula:**

- a: 100,000, the amount of the loan.
- r: 0.005 (6% annual rate—expressed as 0.06—divided by 12 monthly payments per year)
- n: 360 (12 monthly payments per year times 30 years)
- Calculation: 100,000/{[(1+0.

According to **HP**, **HP 12C Platinum** edition is capable of processing up to 6 times faster than its predecessor. The superior processing power of **HP 12C Platinum** means it can handle 400 steps in programming key presses while the **HP 12C** is only 99. **HP 12C** can store up to 20 cash flows while **HP 12C Platinum** can store 80.