HP 10B II Loan Amortization

[@kr1tical41]

watching this as a fourth year student the night before my financial management final :')

[@vlesseig]

In this video, the calculator is set to 1 payment per year. That's the way I instruct my students to leave their calculators. That way it works the same as Excel. If you prefer to set your calculator to 12 payments per year (the default setting) you would not divide the interest rate by 12, but everything else would be the same.

[@BBNutbeem]

How do you set the number of payments per year? Sorry, I am late to the party.

[@thomasj9548]

@@BBNutbeem Press 1, then press the orange shift key, them the PMT (p/yr) key. I always double check that it set correctly by then clicking the orange shift key and then the C key. Then the calculator will show now many p/yr (I just do this to confirm that the calculator actually reset to what I wanted).

[@snip-sniptear956]

6:50 Saved my life in Finance! I am using both Ti-84 Plus and HP 10bII+ to solve loans and payments and did not know how to find the balance on the second calculator. Your video was easy to follow and quick to the point.

[@Lumminere]

Bro did you graduate?

[@Brandonjwellman]

Thank you! Studying for my CFP exam and this is very helpful!

[@gregglazer8076]

Vance Lesseig in my many years of youtubing videos for help, this has by far been the best, easiest to understand and informative video. Thanks. Keep up the good work!

[@Jacob_Studer]

Thank you! I could not remember how to look at a specific period with the amort key, I could only look at a year at a time. Appreciate the reminder!!

[@silversurfer702]

Great information, I took your Finance class a few semesters ago and needed a quick recap. Glad I found your channel. Keep'em coming and "Eat'em up, Cats!"

[@RealEstateGuidebook]

A million thanks! This was extremely helpful and your delivery and presentation is comfortable and easy to follow. Thanks again.

[@idasin12paradise]

this was very helpful, I feel more confident I could do this. Thanks for sharing your knowledge

[@toni-leeparker6476]

Thanks for sharing, really helps when you studying part time and do not have class. Please keep sharing!

[@alibakr6176]

This is was so helpful! Thank for making it so easy!! 🙏🏻🙏🏻🙏🏻

[@princessviess]

Thank you! You’re a life saver, came in handy for my exam!

[@tebogophasha1905]

this video has saved me. thanks a million times

[@haogexu9490]

Wonderful and perfectly makes sense video! Thank you so much!!!

[@Gonnabiteit23]

This video was super helpful to me and I really appreciate the time you took out to help others. Again, I really appreciate your help. ;)

[@1967bvaldes]

Great explanation. People can do this on Excel. Learning to do it on the calculator is good also.

[@mmontealvo]

you’re such a great teacher. thank you so much

[@soulblis]

awesome... u made it simple & easy to understand, tq

[@MrPAnon636]

Idk why spent about 15 minutes on #1 over and over again it comes out as 885.55 not 1590

[@thesherlags1414]

me too

[@boberson45]

I really appreciate the video. CFP here I come!

[@911digital_nomad]

Thank you so much for the video,

[@hisightsmedia777]

Thank you ! Excellent descriptions!

[@forrestthroughdatrees]

I'm typing it in exactly as you say and on the first one and I get -885.558437. I have no idea what I'm doing wrong. I've reset the calculator to ensure I don't have other numbers messing up the calculation.

[@MrPAnon636]

Same

[@gyswealthmgmt]

Since the Q4 says "after 15th year", shouldn't the input numbers be 181 INPUT 181 vs. your 180? Can anyone help? Thanks!

[@tunim4354]

The way you talk 👍🏽👍🏽👍🏽

[@jibnitpicon2580]

Thank you for this video! It helped me a lot of my exam! =)

[@arineey4538]

Great video thank you

[@Skado760]

Thank you very much. Perfect explanation

[@sefakosramphoma9820]

VERY HELPFUL!!!!!!!!! CAN NOW PERFORM THE CALCULATION.

[@IshitaChawla79]

Amazing thank you so much

[@dig3476]

HAHAHAHAH holy shit I finished my 1hr test in 30 mins, my tutor kept insisting calculators wont work for amortisation but guess he was wrong. Cheers bruv

[@raviparam09]

Thanks man, it helped me a lot, Cheers :)

[@Johnwash12]

thanks so much

[@pgdeist]

Very helpful.

[@TheTCOLL]

How did you get that calculator on your computer?

[@Mister_Soyuz_on_YT]

So, can this exact calculation be used to calculate real-life scenarios? For example, say a friend borrowed money for a home buy and needs to pay all in 30 years with 5.5% interest rate (excluding insurance and tax fees) and would like to know how much balance is left in 15 years.

[@josephvital]

Da!

[@henrypoynter807]

Brilliant.

[@romeodalmacio]

I was following this with my HP10bII but i am getting wrong answer unless i enter 4.9% (not diveded by 12) as I/YR

[@vlesseig]

this method works if your calculator is set at 1 P/YR. the default is 12 P/YR. if you are set at the default with monthly compounding then you enter the annual rate of 4.9

[@romeodalmacio]

Thank you for quick response.

[@luissalinas8122]

Very helpful. Thank you so much!

[@matthewwebber8940]

Thanks for this video

[@samreich2249]

thanks for this video! when I try to do the second problem I put in 1 input then 12 input shift amort but the payment schedule is coming up as 12-12 instead of 1-12, do you know what I am doing wrong?

[@vlesseig]

Sorry it has taken me so long to get to this. For 1-12 you need 1 input 12 shift amort. Only push input after the first number

[@Accummen_ENT]

just a quick question, how many payments per year are set on the calculator?

[@thabanglekhutle1185]

1 Payments per year, but you could also use 12, in that case you wont need to divide by 12 each time

[@lanvu8132]

Thank you so much for the video!!!

[@lillysmith424]

Vance is better than my professor

[@williamscherer9803]

My hero Vance

[@datchodidaopho]

Thank you, this is so helpful

[@minenhlecele4304]

Extremely helpful!!!!

[@beccabootsybaby1694]

Thank you 🙏

[@sontonxumalo9453]

thank you

[@Cekeshe]

Thanks 🤞🏾🤞🏾🤞🏾🤞🏾

[@emilys1721]

SO HELPFUL

[@monymoe25]

This Test tomorrow will be a piece of CAKE!

[@CarlosSal7]

OH MY GOSH THANK YOU!!

[@andrewhanna742]

Thanks for this boss

[@lillysmith424]

i love you vance

[@flamezilla]

thanks worked for me

[@bingxuanpang2519]

thank a lot

[@zaidsiddiqui6137]

thanks man

[@iftekharzamir2794]

i could kiss you on the mouth mate, i was doing all this via equations on a scientific calculator.

[@aysarferas2253]

you need to clarify the content

[@kamjah4046]

you got wrong number for payment it should be 885.56

[@jacobsibiya4859]

i got the same answer as you

[@vlesseig]

Your number comes if your calculator is set to 12 payments per year. You should leave the rate as 4.9 in this setting.