HP-12C Annuity PV FV PMT
Solves HP-12C annuity equation given PV rate and n computes PMT and FV.
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HP-12C PV/FV/PMT/i/n annuity formulas
The HP-12C works off five financial registers: PV (Present Value), FV (Future Value), PMT (payment), i (rate %/period), n (periods). Give it any four and it solves for the last one. For an ordinary annuity (END), FV = PMT·((1+i)^n - 1)/i and PV = PMT·(1-(1+i)^-n)/i. Accountants and financial planners have leaned on it since the 1981 launch, and HP still makes it.
The CFA Institute and FPSB allow the HP-12C as a standard exam calculator, and the Brazilian CEA, CFG, CGA and CFP certifications require it too. RPN (Reverse Polish Notation) cuts keystrokes compared with algebraic entry, and if you prefer algebraic, the HP-12C Platinum offers that mode.
Applications
CFA and FPSB exams, ANBIMA CEA/CFG/CGA/CFP, financial math, loan amortization, planning for retirement, and pricing bonds.
FAQ
END vs BEGIN mode? END puts the payment at the end of each period and is the default; BEGIN puts it at the start (anuidade antecipada).
Why is PV negative usually? It is the HP-12C sign convention. Money coming in is positive, money going out is negative, and a loan's PV is cash flowing out to the borrower.
HP-12C still in production? Yes. HP has kept it on the line since 1981, making it the longest-lived calculator model around.
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