Using HP 10bII for Mortgage loans with points

12 Shift P / YR (yearly)

Part 1 - Calculate Monthly Payment

• Enter 114,400 press [x] and enter 1.02 and press [=] (to calculate 2 point free or 2% more)
• Display 116,688.00
• Press [PV]
• Enter 30 [Shift] [N x P/YR]
• Enter 0 and press [FV]
• Press [PMT]
• Display -917.98

Part 2 - Next we calculate the APR (Annual Percentage Rate)

• Enter 114,400 and press [PV] (the original loan amount]
• Press [I/YR]
• Display 8.97 is the answer or the APR for the loans.