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GMATT73
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Financial calculator functions: HP 10B II 23 Jan 2008, 20:56
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I imagine some of you must also be using the same calculator because most finance classes won't let students use laptops during mid-term and final exams.

I have a function question regarding a mortgage.

Suppose a customer takes out a 30 year, 5% (compounded annually) home loan for $600,000. How can we calculate the principal accrued on the loan after, say, 50 payments? Again, I already know how to solve this algebraicly, but instead would like to learn how to quickly derive it with a financial calculator.

Thanks.
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ramp275
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Financial calculator functions: HP 10B II 19 Dec 2016, 10:09
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Did you/anyone figure out an answer for this?
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jmikery
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Financial calculator functions: HP 10B II 21 Dec 2016, 04:18
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ramp275
Did you/anyone figure out an answer for this?

It's pretty quick to do so normally. (1+rate)^# of periods * principal. No need for fancy financial calculator functions