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CALC 1 TVM i - Time Value of Money with Periodic Rate and Odd Periods Calculator

This calculates time value of money calculations. It stores the interest rate as a periodic rate, ("i" key instead of "I/YR" key).

It is similar to the 12CP calculator for TVM calculations involving N with fractional parts.

This calculator uses the second and third formulas in Time Value of Money Compound Interest Formulas.

 

Loan with Odd Period Example

What are the monthly payments for a 45,000 loan for 36 months and 16 days at 5% per year?

Value Keystrokes (RPN) Keystrokes (CHN) Display Description
  shift, C TVM     Clears the financial variables.
  shift, B/E     set the payment mode to END, only if BEG is displayed.
  16 ENTER
30 ÷
36 + STO N
16 ÷ 30
+ 36 N
36.53 Sets the number of payments to 36.533
5 shift ÷P/YR   0.42 Sets the periodic interest rate. Verify that P/YR is set to 12. It is displayed in the status annunciators.
45000 PV   45,000.00 Stores the loan amount, PV.
  PMT   -1,351.69 Calculate the monthly payment for the odd period, simple interest.

This is the same as the 12CP with "STO+EEX" set so the "C" status is not displayed.

Note in this example that the number of payments could be entered as a fraction. 36.16.30 would be displayed as 36 16/30. Rates can also be entered as fractions, 3.5.8, is displayed as "3 5/8" displayed in current format setting, 3.63 or 3.625.

What are the monthly payments for continuous interest for the odd period?

Value Keystrokes (RPN) Keystrokes (CHN) Display Description
  Shift S/C     Toggles between simple or compound interest used in Odd-Period calculations. A "C" status will be displayed.
  PMT   -1,351.68 Calculate the monthly payment for the odd period, compound interest.

 

This is the same as the 12CP with "STO+EEX" set so the "C" status is displayed.

See the Amortization Examples for additional information on this calculator. This calculator calculates interest, principle and balance for any two periods. It also shares data with the Amortization From Calculator that will generate tables and graphs.

This calculator uses the second and third formulas in Time Value of Money Compound Interest Formulas.

All of these calculators share the same values so you can start a calculation with one calculator and then switch to the other without having to re-enter the values. This applies to the HP reproduction calculators, 12C and 10bii.

Simple Interest

This calculator has an "s INT" key similar to the 'INT' on a 12C

Calculate simple interest for a 30 day loan at 7% for 450.

Value Keystrokes Display Description
30 N 30.00 Stores the days.
7 i 7.00 Stores the annual interest rate.
-450 PV -450..00 Stores the loan amount.
  shift, s INT 2.63 Interest base 360 days.
  ROLL 450.00 The loan amount.
  ROLL 2.59 Interest base 365 days.

 

This calculator has "STO/RCL tvm" keys that will store all of the TVM values (N, i, PV, PMT, FV, P/YR, PER1, PER2 BEG/END). This can be used to STO different initial values or quickly switch between different scenarios.

The TVM values support register arithmetic.

In this calculator, the rate, i, is the periodic rate

The P/YR is used only for the "NextPer" key and "shift xP/YR" and "shift ÷P/YR". The "shift xP/YR" key multiplies x by P/YR and stores the results as the number of periods. The "shift ÷P/YR" key divides x by P/YR and stores the results as the periodic rate.

For the other keys:

Using the "long press" gesture will display a hint about any key. (Video: Displaying a hint) .

Calculation Methods Used by CALC 1

CALC 1 Date Keys

Also see

Storing and Recalling Numbers.