How Do I Use the HP 10Bii Financial Calculator for Real Estate?

The HP 10Bii Financial Calculator makes it possible to complete quick real estate calculations. The most important real estate calculation is calculating mortgages. For a mortgage you need the number of payments, interest per year, present value of the mortgage, payment amount and future value of the mortgage. The future value of the mortgage is almost always zero. The HP 10Bii Financial Calculator allows you to input every variable except for the variable you want to solve. The calculator will then solve for your missing variable.

Instructions

1. Type the payments per year, which is normally 12, and then press the shift key and "P/YR."

2. Enter the total number of payments and press "N."

3. Enter the interest per year and press "I/YR." Do not put the interest per year in decimal form.

4. Enter the present value of the mortgage and press "PV." The present value of the mortgage is the amount of principal remaining on the mortgage.

5. Press "PMT." The mortgage payment will display on the screen.

6. Repeat these steps, entering all the information except the variable you want to solve for. After entering all the information, press the button for your variable and the answer to the variable will display.

References

• HP: HP 10Bll Financial Calculator User Manual