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(12C) 80:10:10 Loan - Printable Version

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(12C) 80:10:10 Loan - Eddie W. Shore - 04-06-2018 01:21 PM

Inputs:

Store Loan Amount in R1
Large Loan (80%): Number of Years in R2, Annual Interest Rate in R3
Small Loan (10%): Number of Years in R4, Annual Interest Rate in R5

Output:

Large Loan Payment, Small Loan Payment, Combined Payment (R6)
Code:

STEP    CODE    KEY    NOTES
001    42, 34    Clear FIN    
002    45, 1    RCL 1    
003    8    8    
004    0    0    
005    25    %    
006    13    PV    
007    45, 3    RCL 3    
008    43, 12    [ g ] [ i ] (12÷)    Store monthly interest rate
009    45, 2    RCL 2    
010    43, 11    [ g ] [ n ] (12x)    Store monthly payments
011    14    PMT    Calculate payment of 80% loan
012    44, 6    STO 6    
013    31    R/S    
014    45, 1    RCL 1    
015    1    1    
016    0    0    
017    25    %    
018    13    ENTER    
019    45, 5    RCL 5    
020    43, 12    [ g ] [ i ] (12÷)    
021    45, 4    RCL 4    
022    43, 11    [ g ] [ n ] (12x)    
023    14    PMT    Calculate payment on the 10% loan
024    31    R/S    
025    45, 6    RCL 6    
026    40    +    
027    44, 6    STO 6    
028    43, 33, 000    GTO 000    On the regular HP 12C, the line is GTO 00

Example:

Terms: 80:10:10

Loan Amount: $200,000.00
80% Loan: Term: 30 years, Rate: 4.5%
10% Loan: Term: 15 years, Rate 5%

Results:
-810.70 (payment of 80% loan)
-158.16 (payment of 10% loan)
-968.86 (payment of combined loan)


Sources

Calculated Industries Real Estate Master IIIX: Resident Real Estate Finance Calculator Pocket Reference Guide Calculated Industries, LLC.: Carson City, NV 2010

Mortgage-Info.com “Piggy Back Mortgage Calculator” Mortgage Info.com 2011 http://www.mortgage-info.com/mortgage-calculators/piggybackmortgagecalculator.aspx Accessed April 4, 2018.