# How do you amortize on HP 10bii?

Category:
personal finance
retirement planning

To

**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).

In respect to this, how do I change the P yr on my HP 10bii?

Press [Gold shift] [C ALL] and then press 1 [Gold Shift] [**P**/**YR**]. Now the calculator is set to assume 1 period/**year**. To confirm this **setting**, press and hold [Gold Shift] [C ALL]. Unless needed for other work, we generally leave the calculator **setting** at 1 period per **year**.

**Simple interest**is calculated by multiplying the daily

**interest rate**by the principal, by the number of days that elapse between payments.

**Simple interest**benefits consumers who pay their loans on time or early each month. Auto loans and short-term personal loans are usually

**simple interest**loans.

In this manner, how do I use my HP 10bii financial calculator?

**To do this on the HP 10BII, first clear all prior work, and then use the following steps:**

- Input 10,000 and press the FV key.
- Input 10 and press the N key.
- Input 6.5% and press the I/YR key.
- Input 0 and press the PMT key.
- Press the PV key to solve for the present value.

**Amortized** loans are designed to completely pay off the loan balance over a set amount of time. Your last loan payment will pay off the final amount remaining on your debt. For example, after exactly **30 years** (or 360 monthly payments) you'll pay off a **30**-**year** mortgage.