Question about HP 12c Calculator

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Wrong calculation of mortgage payment

Hi,

My hp 12c calculates a mortgage payment about $100 more than it should be. Is this fixable or is it history?

Thanks,

Mel

Posted by on

  • Anonymous Sep 23, 2008

    My problem is that my HP12c calculates the mortgage payment almost twice as much as it should be.....

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1 Answer

Check to see if the word "BEGIN" appears on your screen. If so, you are calculating the payment on an "annuity due" basis, that is, the first payment is made on day one, and each period thereafter, rather than the first payment being due at the end of the first (30 days usually) period. To fix this, press the blue "g" button, and then press the number "8" (notice the word "end" printed on that key in blue ink). This should return you to the normal (first payment due at the end of the period) option.

Posted on Aug 06, 2008

  • bmh_epost Aug 15, 2011

    Had a similar problem as Melinda and this solution solved my problem. Thank you!

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