Sample Calculations
Below are directions to calculate a monthly payment amount, the amount financed, and
the annual percentage rate on a hp 12c platinum financial calculator.
Term: 30 year fixed
Interest rate: 7.00%
Loan amount: $500,000
Monthly Payment Amount
1. Clear your calculator
a. press gold f, press ClX (the calculator should shows zeros)
2. Term of the Loan
a. press 30, press g, press n
3. Interest Rate
a. press 7, press g, press i
4. Loan Amount
a. press $500,000, press PV
5. End Calculation
a. press g, press end (the end key is on the letter eight)
6. Calculate the monthly payment amount
a. press PMT
b. you should have $3,326.51
Amount Financed
Loan origination fee: 1%
Loan processing fee: $495
Underwriting fee: $695
Flood Certification fee: $15
Tax Service fee: $60
Discount fee: 0.25%
1. Clear your calculator
a. press f, press ClX (the calculator should shows zeros)
2. Calculate the origination fee
a. press $500,000, press enter key
b. press 1, press %, press X (multiplication key)
c. you should have $5,000
3. Calculate the discount fee
c. press $500,000, press enter
d. press 0.25, press %, press X (multiplication key)
e. you should have $1,250
4. Add up all of the fees: $7,515
5. Amount financed
f. press $500,000, press enter key
g. press $7,515, – key
h. you should have $492,485
Annual Percentage Rate
1. Clear the calculator
a. press f, press ClX (the calculator should shows zeros)
2. Enter the amount financed
a. press $492,485, press CHS, press g, press PV (the calculator should show
-$492,485)
3. Enter the total payments (note the calculator
a. press $3,326.51, press g, press PMT, press 99, press g, press FV
b. press $3,326.51, press g, press PMT, press 81, press g, press FV
c. press $3,326.51, press g, press PMT, press 99, press g, press FV
d. press $3,326.51, press g, press PMT, press 81, press g, press FV
e. press f, press FV (the calculator will say “running”, the calculator should
show 0.59589170 – this is the monthly APR)
f. press 12, press X (the multiply key)
g. you should have 7.15