HP Prime: Advanced Payments for a Lease
Introduction
The program ADVPMT calculates the monthly payment of lease
several payments are paid simultaneously at the beginning of the lease.
Firmware 13441 is used. This program uses the TmvPV function from the
Finance App. The “Finance.” suffix will
allow the program to be used regardless of which app HP Prime is set to.
HP Prime Program ADVMPT
EXPORT ADVPMT(N,I,P,S,A)
BEGIN
// advance monthly payments
// 2018-03-15 EWS
// HP 17BII+
LOCAL X;
X:=(−P-S*
Finance.TvmPV(N,I,0,−1,12))/
(Finance.TvmPV(N-A,I,−1,0,12)+A);
RETURN ROUND(X,2);
END;
Example
Find the monthly payment of a 48
payment, 4.6% lease where 3 payments are required in advance. The amount financed is $10,000 with an
expected salvage value of $2,000.
Input: ADVPMT(48,4.6,10000,2000,3)
Result: -263.54
Each payment will be $263.54,
with the first payment being three times that amount, or $790.62.
Source:
Hewlett Packard. HP
17bII+ Financial Calculator User’s Guide
Edition 3, 2007 San Diego.
Eddie
This blog is property of Edward Shore, 2018.