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Sammy is looking to borrow money and agrees to borrow \$1,000 from Tommy.  Sammy says that he can pay Tommy back \$93/month for the next 12 months.  How much interest will be paid on this loan? Answer:  Buttons to enter into your HP 10bii N (number of months) = 12 I/YR (interest rate/year) = ?? (this is what we are solving) PV (present value) = \$1,000 (this is the amount of money borrower/lent.  We will look at it from Sammy's perspective, so we will say it is positive since he he receiving the \$1,000 in his pocket) PMT (monthly payments) = -\$93 (this is the amount that Sammy pays Tommy every month.  It is negative from Sammy's perspective as the money is leaving his pocket) FV (future value) = 0 (once the 12 monthly payments are made, the debt is paid off in full) After entering in the information above, the answer is 20.76%.  This means that if Tommy lends \$1,000 to Sammy, and Sammy pays him back \$93/month for the next 12 months, the interest on that loan would be 20.76%.