HP 12C Financial Programmable Calculator Manual de usuario descargar pdf (Pagina 40)

Number of Periods to Deplete a Savings

Account or to Reach a Specified Balance.

Given the current value of a savings account, the periodic interest rate,

the amount of the periodic withdrawal, and a specified balance, this

procedure determines the number of periods to reach that balance (the

balance is zero if the account is depleted).

1. Press and press CLEAR .

2. Key in the value of the savings account and press .

3. Key in the periodic interest rate and press .

4. Key in the amount of the periodic withdrawal and press .

5. Key in the amount remaining in the account and press . This step

may be omitted if the account is depleted (FV=0).

6. Press to determine the number of periods to reach the specified

balance.

Example: Your savings account presently contains $18,000 and earns 5

1/4% compounded monthly. You wish to withdraw $300 a month until the

account is depleted. How long will this take? If you wish to reduce the

account to $5,000, how many withdrawals can you make?

Periodic Deposits and Withdrawals

This section is presented as a guideline for evaluating a savings plan

when deposits and withdrawals occur at irregular intervals. One problem

is given, and a step by step method for setting up and solving the problem

is presented:

Example: You are presently depositing $50 and the end of each month into a

local savings and loan, earning 5 1/2% compounded monthly. Your current

balance is $1023.25. How much will you have accumulated in 5 months?

Keystrokes Display

CLEAR

18000

5.25

300

71.00 Months to deplete account.

5000

53.00

Months to reduce the account to

$5,000

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HP 12C Financial Programmable Calculator Manual de usuario Pagina 40