(17B) Car Lease formula

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An extract from Find Car Lease Payments on HP Business Calculator

" You might ask why we’re offering instructions on setting up a business calculator, such as the popular HP 17B, 17BII, or 17BII+, to perform car lease calculations when there is already a built-in TVM (Time Value of Money) function that appears to do the same thing.
The answer is that car leases are not calculated using the Time Value of Money formula that is built into business calculators. Car dealers and lease finance companies use a simplified formula that is easier to use and produces results that are very close to that of the TVM formula. It’s the standard leasing formula used throughout the car leasing industry. "

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