Note: Some equations have the L (Let) and G (Get) functions, which are not available on the brown keyboard of the 17BII+ (around 2003).
Sales Tax: Determine the total amount of taxable items and non-taxable items.
AMT: Total Amount
NTAX: Items not subject to sales tax
TXBL: Items subject to sales tax
R%: sales tax rate
Example 1: A company purchases equipment which costs $99.99, which was subject to 9.5% sales tax, which includes $139.99 of services. The services are not subject to sales tax. What is the total invoice?
AMT = 249.48
The total of the invoice is $249.48.
Example 2: During an audit, a company finds an invoice with the total of $236.40 (amount), and the invoice listed non-taxable services of $146.50. The company lives in a county where the sales tax is 8.75%. What is the amount of taxable items?
TXBL = 82.67
The amount of taxable items on the invoice is $82.67.
Substantial Presence Test
For more information about the substantial presence test, please click here: http://edspi31415.blogspot.com/search?q=substantial+presence+
This equation uses Let and Get.
STP: Number of days calculated for the Substantial Presence Test
D: Date (in the format DD.MMYYYY)
D: 1.052019 (1/5/2019), SPT = 7.072019 (7/7/2019)
D: 6.182008 (6/18/2008), SPT = 12.182008 (12/18/2008)
D: 9.262018 (9/26/2018), SPT = 6.012019 (6/1/2019)
D: 7.102017 (7/10/2017), SPT = 5.062018 (5/6/2018)
Financing the Purchase of an Automobile
This equation deals with the purchase of an automobile.
PRICE: Sticker price of the automobile
DISC%: Discount percent
STAX%: Sales tax rate
DOWN: Down payment (amount)
PMT: Payment of the loan
I%: Interest rate of the loan
YRS: Number of years of the loan
Example 1: The sticker price of a car is $28,000.00. A discount of 15% is offered. The car is subject to 10% sales tax. The dealer offers a 6-year loan at 4.5%. With $2,000, what is the monthly payment?
PMT = 383.83
The monthly payment is $383.83.
Example 2: Assuming the same facts from Example 1, expect the buyer wants to pay no more than $350.00 a month. What is the required down payment?
DOWN = 4131.42
The down payment needs to be $4,131.42.
Real Estate: Principal Interest Property Tax & Insurance (PITI)
Determine the total payment of mortgage when considering property tax and property insurance.
PITI: Payment including principal, interest, property tax, and insurance
MORT: Mortgage amount, price of the property
I%: Annual interest rate
YRS: Number of the years of the mortgage
PROP$: Annual property tax
INS$: Annual property insurance
Example: A buyer purchases a home with a price of $200,000.00. The amount is to be financed. The loan lasts for 30 years and 5% interest rate. There is annual property tax of $1,200.00 with insurance of $395.95. What is the buyer’s PITI?
PITI = 1206.64
The buyer’s PITI is $1,206.64.
Retirement Accounts: Future Value and Earned Untaxed Dividends
Determine the future value and untaxed dividends of tax-free retirement accounts (IRS/Keogh).
There are two versions, the second uses Let (L) and Get (G) functions.
I%: Annual Interest Rate
YRS: Number of Years
PMT: Annual Payment
VAL: Tax Free Value of the Retirement Account
DIV: Total Untaxed Dividends Earned
Remember, these are untaxed amounts.
VAL = 206811.01
DIV = 166881.01
Tony Hutchins, Luiz Vieria, and Gene Wright “HP 12C Platinum Solutions Handbook” Hewlett Packard. Revised 03.04 2004
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