Question about HP 12c Calculator

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A client is to pay $1800 per month rent, at the begining of the month. This is for 40 months. The interest rate is 5% The court wants to know what the present value is.

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  • ricklinhart Jul 16, 2009

    Hi this is Rick



    Now does your answer compound the interest monthly?

  • ricklinhart Jul 16, 2009

    Is this compounded monthly?

  • ricklinhart Jul 17, 2009

    yes very helpful.

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The Present value calculated according to your information is $66,193.25
Reference : http://www.savvy-discounts.com/calculate/retire_invest/retire_savings.html

Posted on Jul 16, 2009

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1 month = 1800

40 months = 40 * 1800 = $ 72 000 ( total excludes interest)

now if interest rate is per month then each = 1800 *105/100 = $ 1890 per moth at interest rate of 5%
month total per month.

1 month rent+ interest = $1890
40 months rent including interest at 5% per month = 1890 * 40 = $75 600

Now if interest rate is per year then

1 month = 1800
12 months( 1 year) = 12 * 1800 = $21 600

Posted on Jul 16, 2009

  • heeman mohun Jul 16, 2009

    Total is 75 600 with int rate at 5 %

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