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• Information
Information regarding recent vulnerabilities

HP is aware of the recent vulnerabilities commonly referred to as "Spectre" and "Meltdown". HP has published a security bulletin with patches for these issues and a list of impacted systems. We will continue to update the bulletin as more information becomes available and encourage customers to check the bulletin frequently.

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## HP 17Bii, 17Bii+, and 19Bii Calculators - Calculating the Mortgage-Equity Analysis

Description
The following equation calculates the Ellwood mortgage coefficient, basic rate, and overall rate.
##### note:
This equation assumes that the mortgage has monthly payments.
Calculating the mortgage-equity analysis
To calculate the mortgage-equity analysis, do the following:
1. Enter the ELLWOOD equation into the Solver as follows:
ELLWOOD: IF(S(C):(L(P:1
÷USPV(I%YR÷12:#YRSx12))
xUSFV(I%YR÷12:HOLDx12)-
SPFV(I%YR÷12:HOLDx12)+1
)xL(Q:1÷USFV(EQY%:HOLD) )-
12xG(P)+EQY%÷100+0xLV xCHG%-
C:IF(S(R):(EQY%-C xLV)÷100-R:R-
G(Q)xCHG%÷ 100-ORALL))
2. Verify the equation:
• For the HP 17bii and 17bii+, press EXIT, EXIT, YES (to save), then CALC
• For the HP 19bii, press CALC
3. Store the following variables:
• Annual mortgage interest rate in I%YR
• Mortgage amortization term in #YRS
• Holding period in HOLD
• Equity yield rate in EQY%
• Loan to value ratio in LV
• Change in value in CHG%
4. Press C to calculate the mortgage coefficient.
5. Press R to calculate the basic rate.
6. Press ORALL to calculate the overall rate.
Example for calculating the mortgage equity analysis
What is the mortgage coefficient, basic rate, and overall rate for a property, which is expected to increase in value 25 percent over a 10-year holding period? The equity yield rate is 15 percent. A loan for 75 percent of the value is available at 12 percent interest with monthly payments for 25 years.
##### note:
To display answers to 6 decimal places press DISP, FIX, 6, then INPUT.
 Keys Display Description 12, then I%YR I%YR=12.000000 Enter APR 25, then #YRS #YRS=25.000000 Enter term 10, then HOLD HOLD=10.000000 Enter holding period 15, then EQY% EQY%=15.000000 Enter equity yield rate 75, then LV LV=75.000000 Enter loan value MORE Press MORE to see more variables 25, then CHG% CHG%=25.000000 Enter change in value C C=0.029643 Mortgage coefficient R R=0.127767 Basic rate ORALL ORALL=0.115454 Overall rate

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