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6: Interest Rate Conversions

File name : English-M02-1-040308(Print).doc Print data : 2004/3/9

6

Interest Rate Conversions

The interest conversion (ICNV) menu converts between nominal and
effective interest rates. To compare investments with different
compounding periods, their

nominal interest rates

are converted to

effective interest rates

. This allows you, for example, to compare a

savings account that pays interest quarterly with a bond that pays
interest semiannually.

The nominal rate is the stated annual interest rate compounded

periodically

, such as 18% per year compounded monthly.

The effective rate is the rate that,

compounded only once

(that is,

annually), would produce the same final value as the nominal rate. A
nominal annual rate of 18% compounded monthly equals an effective
annual rate of 19.56%.

When the compounding period for a given nominal rate is one year,
then that nominal annual rate

is the same

as its effective annual rate.

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Summary of Contents for 17bll+

Page 1: ...hp 17bII financial calculator user s guide Edition 2 HP part number F2234 90001 ...

Page 2: ... PURPOSE HEWLETT PACKARD CO SHALL NOT BE LIABLE FOR ANY ERRORS OR FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES IN CONNECTION WITH THE FURNISHING PERFORMANCE OR USE OF THIS MANUAL OR THE EXAMPLES CONTAINED HEREIN Copyright 1987 1989 2003 Hewlett Packard Development Company L P Reproduction adaptation or translation of this manual is prohibited without prior written permission of Hewlett Packard Company ...

Page 3: ...i annual coupons 30 360 or actual actual calendar Depreciation Using methods of straight line declining balance sum of the years digits and accelerated cost recovery system Business Percentages Percent change percent total markup Currency Exchange Exchange calculations between two currencies Statistics Mean correlation coefficient linear estimates and other statistical calculations Clock Time date...

Page 4: ...g in Negative Numbers 22 Using the Menu Keys 23 The MAIN Menu 25 Choosing Menus and Reading Menu Maps 27 Calculations Using Menus 28 Exiting Menus e 28 Clearing Values in Menus 29 Solving Your Own Equations SOLVE 30 Typing Words and Characters the ALPHAbetic Menu 31 Editing ALPHAbetic Text 32 Calculating the Answer CALC 34 Controlling the Display Format 34 Decimal Places 34 Internal Precision 34 T...

Page 5: ...umbers 44 Reusing the Last Result L 45 Storing and Recalling Numbers 46 Doing Arithmetic Inside Registers and Variables 47 Scientific Notation 48 Range of Numbers 3 49 Percentage Calculations in Business 50 Using the BUS Menus 50 Examples Using the BUS Menus 50 Percent Change CHG 51 Percent of Total TOTL 52 Markup as a Percent of Cost MU C 52 Markup as a Percent of Price MU P 53 Sharing Variables ...

Page 6: ...rtization Table 6 84 Interest Rate Conversions 85 The ICNV Menu 85 Converting Interest Rates 87 Compounding Periods Different from Payment Periods 7 91 Cash Flow Calculations 91 The CFLO Menu 92 Cash Flow Diagrams and Signs of Numbers 94 Creating a Cash Flow List 95 Entering Cash Flows 97 Viewing and Correcting the List 98 Copying a Number from a List to the Calculator Line 98 Naming and Renaming ...

Page 7: ...24 Viewing and Correcting the List 126 Copying a Number from a List to the Calculator Line 126 Naming and Renaming a SUM List 127 Starting or GETting Another List 127 Clearing a SUM List and Its Name 127 Doing Statistical Calculations CALC 128 Calculations with One Variable 130 Calculations with Two Variables FRCST 133 Curve Fitting and Forecasting 138 Weighted Mean and Grouped Standard Deviation ...

Page 8: ... 153 The Equation Solver 153 Solver Example Sales Forecasts 156 The SOLVE Menu 157 Entering Equations 158 Calculating Using Solver Menus CALC 161 Editing an Equation EDIT 161 Naming an Equation 162 Finding an Equation in the Solver List 162 Shared Variables 162 Clearing Variables 163 Deleting Variables and Equations 164 Deleting One Equation or Its Variables DELET 164 Deleting All Equations or All...

Page 9: ...0 Additional Examples 190 Loans 190 Simple Annual Interest 191 Yield of a Discounted or Premium Mortgage 193 Annual Percentage Rate for a Loan with Fees 195 Loan with an Odd Partial First Period 197 Canadian Mortgages 199 Advance Payments Leasing 200 Savings 200 Value of a Fund with Regular Withdrawals 202 Deposits Needed for a Child s College Account 206 Value of a Tax Free Account 208 Value of a...

Page 10: ...221 Demande d aide pendant l utilisation du calculateur 221 Réponses aux questions fréquemment posées 223 Alimentation et piles 224 Témoin de faible charge 224 Installation des piles 226 Gestion de la mémoire du calculateur 227 Réinstallation du calculateur 228 Effacement de la mémoire permanente 229 Précision d horloge 229 Environnement 229 Votre calculateur doit il être envoyé au service après v...

Page 11: ... RPN 261 About RPN on the hp 17bII 262 Setting RPN Mode 263 Where the RPN Functions Are 264 Doing Calculations in RPN 264 Arithmetic Topics Affected by RPN Mode 264 Simple Arithmetic 266 Calculations with STO and RCL 266 Chain Calculations No Parentheses E 268 RPN The Stack 268 What the Stack Is 269 Reviewing the Stack Roll Down 269 Exchanging the X and Y Registers in the Stack 270 Arithmetic How ...

Page 12: ...12 Contents 273 Reusing Numbers 274 Chain Calculations 275 Exercises F 276 RPN Selected Examples 283 Error Messages 289 Index ...

Page 13: ...xample on page 276 General Business Calculations 50 Percent Change 51 Percent of Total 52 Markup as a Percent of Cost 52 Markup as a Percent of Price 53 Using Shared Variables 159 Return on Equity Currency Exchange Calculations 57 Calculating an Exchange Rate 58 Storing an Exchange Rate 59 Converting between Hong Kong and U S Dollars Time Value of Money 67 A Car Loan 68 A Home Mortgage 69 A Mortga...

Page 14: ...196 Loan with an Odd First Period 197 Loan with an Odd First Period Plus Balloon 198 Canadian Mortgage 200 Leasing with Advance Payments 200 A Fund with Regular Withdrawals 202 Savings for College RPN example on page 278 207 Tax Free Account RPN example on page 280 208 Taxable Retirement Account RPN example on page 282 214 Insurance Policy Interest Rate Conversions 86 Converting from a Nominal to ...

Page 15: ...ok 128 Mean Median and Standard Deviation 134 Curve Fitting 138 Weighted Mean 218 A Moving Average in Manufacturing 220 Expected Throws of a Die 2 χ Time Alarms and Date Arithmetic 144 Setting the Date and Time 148 Clearing and Setting an Appointment 151 Calculating the Number of Days between Two Dates 152 Determining a Future Date How to Use the Equation Solver 159 Return on Equity 166 Sales Fore...

Page 16: ...n RPN Appendixes D E and F explain how to use your calculator in RPN mode Match the problem you need to solve with the calculator s capabilities and read the related topic You can locate information about the calculator s features using the table of contents the subject index the list of examples and the menu maps in appendix C the gold edged pages Before doing any time value of money or cash flow...

Page 17: ...te ON printed below the key To turn it off press and then C This shifted function is called o note OFF printed above the key Since the calculator has Continuous Memory turning it off does not affect the information you ve stored there To conserve energy the calculator turns itself off after 10 minutes of no use If you see the low battery symbol at the top of the display you should replace the batt...

Page 18: ...ge the language Table 1 1 Keys for language Key Description German English Spanish French Italian Portuguese What You See in the Display Menu Labels The bottom line of the display shows the menu labels for each of the six major menus work areas in the calculator More about these later in this chapter The Calculator Line The calculator line is where you see numbers or letters that you enter and the...

Page 19: ...nunciator This symbol stays on until you press the next key If you ever press by mistake just press again to turn off the Backspacing and Clearing The following keys erase typing mistakes entire numbers or even lists or sets of data Shift is active page 19 Sending information to the printer page 184 Alarm going off or past due page 147 Batteries low page 224 Calculator line Cursor Menu labels for ...

Page 20: ...FLO In other menus like TVM c clears all of the values that have been stored In SOLVE it can delete all equations The cursor is visible while you are keying in a number or doing a calculation When the cursor is visible pressing deletes the last character you keyed in When the cursor is not visible pressing erases the last number Keys Display Description 12345 66 Backspacing removes the 4 and 5 t C...

Page 21: ...es calculation Once a calculation has been completed pressing another digit key starts a new calculation On the other hand pressing an operator key continues the calculation 77 35 Calculates 77 35 90 89 90 89 65 v 12 New calculation 65 x 12 3 5 Calculates 96 75 3 5 You can also do long calculations without pressing after each intermediate calculation just press it at the end The operators perform ...

Page 22: ...en press To change the sign of an already displayed number it must be the rightmost number press Keys Display Description 75 Changes the sign of 75 7 1 Multiplies 75 by 7 1 Using the Menu Keys The calculator usually displays a set of labels across the bottom of the display The set is called a menu because it presents you with choices The MAIN menu is the starting point for all other menus v ...

Page 23: ...he display The labels tell you what the keys do The six keys are called menu keys the labels are called menu labels The MAIN Menu The MAIN menu is a set of primary choices leading to other menu options No matter which menu you currently see pressing A redisplays the MAIN menu The menu structure is hierarchical ...

Page 24: ...DEPRC Depreciation using SL DB and SOYD methods or ACRS Chapter 9 Business Percentages Percent of total percent change markup on cost markup on price Chapter 3 Statistics Lists of numbers running total mean weighted statistics forecasting summation statistics and more Chapter 10 Time Manager Clock calendar appointments date arithmetic Chapter 11 Equation Solver Creates customized menus from your o...

Page 25: ...e the BUS menu Then press to choose the MU C menu Press e to return to the previous menu Pressing e enough times returns you to the MAIN menu Press A to return to the MAIN menu directly When a menu has more than six labels the label appears at the far right Use it to switch between sets of menu labels on the same level Example Using Menus Refer to the menu map for MU C above along with this exampl...

Page 26: ...isplay the BUS menu Step 4 Press to display the MU C menu Using the MU C menu Step 5 Key in the cost and press to store 4 10 as the COST Step 6 Key in the price and press to store 4 60 as the PRICE Step 7 Press to calculate the markup as a percent of cost The answer Step 8 To leave the MU C menu press e twice once to get back to the BUS menu and again to get to the MAIN menu or A to go directly to...

Page 27: ...nu can calculate M C the percent markup on cost given COST and PRICE COST PRICE M C Calculator Memory Store 4 60 Store 4 10 Calculate 12 20 Keys 4 60 Display Keys 4 10 Display Keys Display Then the same menu can calculate PRICE given COST and M C COST PRICE M C Calculator Memory Store 20 00 Store 4 10 Calculate 4 92 Keys 20 Display Keys 4 10 Display Keys Display Notice that the two calculations us...

Page 28: ...n one value from a menu use storage registers See page 45 Storing and Recalling Numbers Exiting Menus e The e key is used to leave the current menu and go back to the previously displayed menu as shown in the previous example This is true for menus you might pick by accident too e gets you out Clearing Values in Menus The c key is a powerful feature to clear all the data in the currently displayed...

Page 29: ...th your equation which you can use over and over again just like the other menus in the calculator The Solver is covered in chapter 12 but here is an introductory example Because equations usually use letters of the alphabet this section also explains how to type and edit letters and other characters that aren t on the keyboard Example Using the Solver Suppose you frequently buy carpet and must ca...

Page 30: ...a letter you need to press two keys for example is produced by the keystrokes Each letter menu has an key for accessing punctuation and non English characters The letter menus with just four letters for example FGHI include a space character To familiarize yourself with the ALPHA menu type in the equation for the cost of carpeting The necessary keystrokes are shown below Note the access to the spe...

Page 31: ...er part of the variable s name It is not an operator which is Editing ALPHAbetic Text The companion to the ALPHA menu is the ALPHA Edit menu To display the ALPHA Edit menu press in the SOLVE menu or press e in the ALPHA menu DEL ABCDE FGHI JKLM NOPQ RSTUV WXYZ ALPHA EXIT EXIT ...

Page 32: ...ursor far right one display width Displays the ALPHA menu again Keyboard Backspaces and erases the character before the cursor Clears the calculator line C Calculating the Answer CALC After an equation is input pressing verifies it and creates a new customized menu to go with the equation Menu labels for your variables Each of the variables you typed into the equation now appears as a menu label Y...

Page 33: ... per square yard in P YD 12 Stores the length in L 9 Stores the width in W Calculates the cost to cover a 9 x 12 room Now determine the most expensive carpet you can buy if the maximum amount you can pay is 300 Notice that all you need to do is enter the one value you are changing there is no need to re enter the other values 300 Stores 300 in COST Calculates the maximum price per square yard you ...

Page 34: ...to see a number as precisely as possible at any time 12 digits maximum Internal Precision Changing the number of displayed decimal places affects what you see but does not affect the internal representation of numbers The internal precision varies from calculation to calculation and can be between 12 and 31 digits depending on what is done The number stored inside the calculator always has 12 digi...

Page 35: ...imal places are displayed S hold Temporarily shows full precision r S hold Rounds the number to two decimal places Exchanging Periods and Commas in Numbers To exchange the periods and commas used for the decimal point and digit separators in a number 1 Press D to access the DSP display menu 2 Specify the decimal point by pressing or Pressing sets a period as the decimal point and comma as the digi...

Page 36: ...eeper Beeping occurs when a wrong key is pressed when an error occurs and during alarms for appointments You can suppress and reactivate the beeper in the MODES menu as follows 1 Press 2 Pressing will simultaneously change and display the cur rent setting for the beeper beeps for errors and appointments beeps only for appointments silences the beeper completely 3 Press e when done Print Press to s...

Page 37: ...ory space are called bytes The calculator gives you complete flexibility in how you use that available memory such as for lists of numbers or equations Use as much of the memory as you want for any task you want If you use nearly all of the calculator s memory you ll encounter the message To remedy this situation you must erase some previously stored information Refer to Managing Calculator Memory...

Page 38: ...ulate 124 60 plus 2 and the calculator would display the answer 126 60 There is always a number in the calculator line even though some times the calculator line is hidden by a message such as To see the number in the calculator line press which removes the message Doing Calculations Simple calculating was introduced in chapter 1 page 21 Often longer calculations involve more than one operation Th...

Page 39: ...rentheses in Calculations Use parentheses when you want to postpone calculating an intermediate result until you ve entered more numbers For example suppose you want to calculate 30 x 9 85 12 If you were to key in 30 85 the calculator would calculate the intermediate result 0 35 However that s not what you want To de lay the division until you ve subtracted 12 from 85 use parentheses Keys Display ...

Page 40: ...Result is Adding or Subtracting a Percentage You can do this all in one calculation For instance to decrease 200 by 25 just enter 200 25 Result is Example Calculating Simple Interest You borrow 1 250 from a relative and agree to repay the loan in a year with 7 simple interest How much money will you owe Keys Display Description 1250 7 Interest on the loan is 87 50 You must repay this amount at the...

Page 41: ... Calculates 20 47 2 Calculates 4 47 47 20 1 1 w Calculates 1 12 Completes calculation of 4 47 47 2 x1 12 The Power Function Exponentiation The power function u raises the preceding number to the power of the following number Keys Display Description 125 u 3 Calculates 1253 125 u 3 t Calculates the cube root of 125 which is the same as 125 1 3 v v v v ...

Page 42: ...se e logarithm of a positive number Natural antilogarithm calculates ex Factorial Inserts the value for π into the display Keys Display Description 2 5 m Calculates 102 5 4 Calculates the factorial of 4 e Exits MATH menu You can access the MATH menu when another menu is displayed For instance while using SUM you might want to use a MATH function Just press m then perform the calculation Pressing e...

Page 43: ...s make up the history stack Invisible numbers remaining from previous results The and keys roll the history stack down or up one line bringing the hidden results back into the display If you hold down or the history stack wraps around on itself However you cannot roll the history stack when an incomplete calculation is in the display Also you cannot gain access to the stack while using lists SUM C...

Page 44: ...ory stack saves you time Moves 42 92 back to calculator line 11 Reusing the Last Result L The L key copies the last result that is the number just above the calculator line in the history stack into a current calculation This lets you reuse a number without retyping it and also lets you break up a complicated calculation 39 8 123 17 Keys Display Description 123 17 Calculates 123 17 v Calculates 14...

Page 45: ...f there is more than one number on the calculator line s stores only the last number in the display To store or recall a number 1 Press s or R To cancel this step press 2 Key in the register number The following example uses two storage registers to do two calculations that use some of the same numbers 475 6 560 1 475 6 39 15 39 15 Keys Display Description 475 6 s 1 Stores 475 6 into register 1 39...

Page 46: ...into a register you overwrite whatever existed there before Doing Arithmetic Inside Registers and Variables You can also do arithmetic inside storage registers Keys Display Description 45 7 s 3 Stores 45 7 in reg 3 2 5 s 3 Multiplies contents of register 3 by 2 5 and stores result 114 25 back in register 3 R 3 Displays register 3 Table 2 3 Arithmetic in Registers Keys New Register Contents s old r...

Page 47: ... this is 3 6628 x1012 For very small numbers the decimal point is moved to the right and 10 is raised to a negative power For example 0 00000752 can be written as 7 52 x 10 6 When a calculation produces a result with more than 12 digits the number is automatically displayed in scientific notation using a capital E in place of x10 Remember that changes the sign of the entire number and not of the e...

Page 48: ...48 2 Arithmetic Range of Numbers The largest positive and negative numbers available on the calculator are 9 99999999999 x 10 499 the smallest positive and negative numbers available are 1 x 10 499 ...

Page 49: ...usiness Percentages BUS Menus Menu Description Percent change The difference between two numbers OLD and NEW expressed as a percentage CH of OLD Percent of total The portion that one number PART is of another TOTAL expressed as a percentage T Markup on cost The difference between price PRICE and cost COST expressed as a percentage of the cost M C Markup on price The difference between price PRICE ...

Page 50: ...es You can calculate any one of the three variables if you know the other two 1 To display the CHG TOTL MU C or MU P menu from the MAIN menu press then the appropriate menu label Pressing for example displays 2 Store each value you know by keying in the number and pressing the appropriate menu key 3 Press the menu key for the value you want to calculate Examples Using the BUS Menus Percent Change ...

Page 51: ...ores 12 in CH Calculates the value 12 greater than 90 000 Percent of Total TOTL Example Total assets for your company are 67 584 The firm has inventories of 23 457 What percentage of total assets is inventory You will be supplying values for TOTAL and PART and calculating T This takes care of all three variables so there is no need to use c to remove old data Keys Display Description Displays TOTL...

Page 52: ...n M C Calculates price Markup as a Percent of Price MU P Example Kilowatt Electronics purchases televisions for 225 with a discount of 4 The televisions are sold for 300 What is the markup of the net cost as a percent of the selling price What is the markup as percent of price without the 4 discount Keys Display Description Displays MU P menu 225 4 Calculates and stores net cost in COST 300 Stores...

Page 53: ...and then display the MU P menu the calculator retains those values In other words the variables are shared between the two menus Example Using Shared Variables A food cooperative buys cases of canned soup with an invoice cost of 9 60 per case If the co op routinely uses a 15 markup on cost for what price should it sell a case of soup Keys Display Description Displays MU C menu 9 6 Stores 9 60 in C...

Page 54: ...ncy exchange calculations between two currencies using an exchange rate that you calculate or store The CURRX Menu BUS FIN SUM TIME SOLVE CURRX SELCT US EUR RATE C STO C RCL To display the currency exchange menu from the MAIN menu press Currency 2 is EUR EURO Dollar Currency 1 is US U S Dollar ...

Page 55: ...elects a new set of currencies Selecting a Set of Currencies To select a pair of currencies 1 Press to display the menu of currencies Press more if necessary to see additional currencies see table 4 2 2 Press a menu key to select currency 1 3 Press a menu key to select currency 2 RATE is automatically reset to 1 0000 4 Enter an exchange rate There are two ways enter the RATE Calculate the rate fro...

Page 56: ... New Shekel Denmark Kroner Norway Kroner Sweden Kronor Russia Rouble South Africa Band Saudi Arabia Riyals Argentina Vanuatu Bolivar Brazil Peru Bolivia Chile Colombia Mexico Philippines Uruguay Pesos Hong Kong Dollars Taiwan New Dollars China Yuan Renminbi South Korea Won Japan Yen Australia Dollars Malaysia Ringgits New Zealand Dollars Indonesia Rupiahs Singapore Dollars Thailand Baht India Rupe...

Page 57: ... 0842 US 1 CAN is equivalent to 0 6584 US 1 HK is equivalent to 0 1282 US Part 1 Select the currencies and calculate an exchange rate form them Keys Display Description Display the CURRX menu Select CAN as currency 1 Select US as currency 2 1 Store number of CAN The chart is in terms of United States dollars Many charts have two columns a Buy column and a Sell column The Buy column is used for tra...

Page 58: ...umber of US Calculates the RATE 1 0 6584 Example Storing an Exchange Rate If you choose to store the exchange rate directly you must select the currencies in the correct order since the RATE is defined as the number of units of currency 2 equivalent to one unit of currency 1 Use the United States conversion chart on page 57 to store an exchange rate for converting between Hong Kong Dollars and U S...

Page 59: ...sweater in a shop window costs 75 US What is its cost in HK Dollars Keys Display Description 75 Store number of US Calculates equivalent HK Storing and Recalling Sets of Currencies Pressing or displays the C STO C RCL menu which is used to store and recall sets of currencies and the rates The menu can store up to six sets of currencies Initially the menu contains six blank labels Storing Sets of C...

Page 60: ...ss followed by the appropriate menu key The hp 17bII automatically returns to the CURRX menu The equivalency message and menu labels show the recalled currencies and RATE Clearing the Currency Variables Pressing c while the CURRX menu is displayed sets the RATE to 1 0000 The values of the two current currencies are cleared to 0 ...

Page 61: ...he principal at specified compounding periods thereby also earning interest Savings accounts mortgages and leases are compound interest calculations In simple interest calculations the interest is a percent of the principal and is repaid in one lump sum Simple interest calculations can be done using the key page 40 For an example that calculates simple interest using an annual interest rate see pa...

Page 62: ...ent periods coincide with the compounding periods Payment mode the end of each period 12 payments or periods per year To second level of TVM Figure 5 1 The First Level of TVM The first level of the TVM menu has five menu labels for variables plus The key accesses a second level menu used to specify payment conditions the payment mode and to call up the AMRT amortization menu Figure 5 2 The Second ...

Page 63: ...ments are unequal use CFLO not TVM Payments can occur at the beginning or end of each period If PMT represents money paid out it is negative Stores or calculates the future value a final cash flow or a compounded value of a series of previous cash flows PV PMTs FV always occurs at the end of the last period If FV is paid out it is negative e Second Level Specifies the number of payments or compoun...

Page 64: ...d FV When the second level menu is displayed pressing c resets the payment conditions to To see what value is currently stored in a variable press R menu label This shows you the value without recalculating it Cash Flow Diagrams and Signs of Numbers It is helpful to illustrate TVM calculations with cash flow diagrams Cash flow diagrams are time lines divided into equal segments called compounding ...

Page 65: ...oth 1 2 3 4 5 PMT Equal periods Equal payments FV is Future Value if any e g a balloon payment Money re ceived is a positive number Money paid out is a negative number Loan Figure 5 3 A Cash Flow Diagram for a Loan from Borrower s Point of View End Mode 1 2 3 4 5 Loan Figure 5 4 A Cash Flow Diagram for a Loan from Lender s Point of View End Mode ...

Page 66: ... To clear previous TVM values press c Note You don t need to clear data if you enter new values for all five variables or if you want to retain previous values 3 Read the message that describes the number of payments per year and the payment mode Begin End If you need to change either of these settings press To change the number of payments per year key in the new value and press If the number of ...

Page 67: ...evious TVM values Store zero for example pressing 0 sets FV to zero Loan Calculations Three examples illustrate common loan calculations For amortization of loan payments see page 77 Loan calculations typically use End mode for payments Example A Car Loan You are financing the purchase of a new car with a 3 year loan at 10 5 annual interest compounded monthly The purchase price of the car is 7 250...

Page 68: ...ney to be paid out To calculate the interest rate that reduces the payment by 10 add 10 to reduce the negative PMT value 10 Stores the reduced payment amount Calculates the annual interest rate Example A Home Mortgage After careful consideration of your personal finances you ve decided that the maximum monthly mortgage payment you can afford is 630 You can make a 12 000 down payment and annual int...

Page 69: ...ts in N 11 5 Stores annual interest rate 630 Stores a negative monthly payment Calculates loan amount 12000 Calculates total price of the house loan plus down payment Example A Mortgage with a Balloon Payment You ve taken out a 25 year 75 250 mortgage at 13 8 annual interest You anticipate that you will own the house for four years and then sell it repaying the loan in a balloon payment What will ...

Page 70: ...late the balloon payment after 4 years Keys Display Description Display TVM menu c Clears history stack and TVM variables c e If needed sets 12 payment periods per year End mode Step 1 Calculate PMT for the mortgage 25 Figures and stores the number of monthly payments in 25 years 13 8 Stores annual interest rate 75250 Stores amount of the loan Calculates monthly payment ...

Page 71: ...vings Account You deposit 2 000 into a savings account that pays 7 2 annual interest compounded annually If you make no other deposits into the account how long will it take for the account to grow to 3 000 Since this account has no regular payments PMT 0 the payment mode End or Begin is irrelevant 3 000 _ 2 000 0 7 2 1 The PMT stored in the previous step is the 12 digit number 894 330557971 The c...

Page 72: ...s based on a non integer value 5 83 of N Since the calculated value of N is between 5 and 6 it will take 6 years of annual compounding to achieve a balance of at least 3 000 The actual balance at the end of 6 years can be calculated as follows 6 Stores a whole number of years in N Calculates account balance after six years Example An Individual Retirement Account IRA You opened an IRA on April 15 ...

Page 73: ...splays TVM menu It is not necessary to clear data because you do not need to set any of the values to zero 24 e Sets 24 payment periods per year End mode 15 Figures and stores number of deposits in N 8 3 Stores annual interest rate 2000 Stores initial deposit 80 Stores semimonthly payment Calculates balance in IRA after 15 years ...

Page 74: ...lue For examples with two or more advance payments see pages 74 and 199 Example Calculating a Lease Payment A new car valued at 13 500 is to be leased for 3 years The lessee has the option to purchase the car for 7 500 at the end of the leasing period What monthly payments with one payment in advance are necessary to yield the lessor 14 annually Calculate the payments from the lessor s point of vi...

Page 75: ...e end of the leasing period What is the capitalized value of the lease The interest rate you pay to borrow funds is 18 compounded monthly 1 3 2 44 45 46 47 48 _ 15 000 4 800 2 _ 2 400 18 12 Begin mode 47 The problem is done in four steps 1 Calculate the present value of 47 monthly payments in Begin mode Begin mode makes the first payment an advance payment 2 Add one additional payment to the calcu...

Page 76: ...yments 18 Stores annual interest rate 2400 Stores monthly payment Calculates present capitalized value of the 47 monthly payments Step 2 Add the additional advance payment to PV Store the answer 2400 Calculates present value of all payments s 0 Stores result in register 0 Step 3 Find the present value of the buy option 48 Stores number of payment periods 15000 Stores amount of the buy option money...

Page 77: ...t capitalized value of lease Amortization AMRT The AMRT menu press displays or prints the following values The loan balance after the payment s are made The amount of the payment s applied toward interest The amount of the payment s applied toward principal TVM I YR INT BEG N P P YR PV PRIN END PMT BAL FV NEXT OTHER TABLE AMRT v ...

Page 78: ...amortization schedule which contains P payments The next set of payments starts where the previous set left off Displays a menu for printing an amortization table schedule Displaying an Amortization Schedule For amortization calculations you need to know PV I YR and PMT If you have just finished doing these calculations with the TVM menu then skip to step 3 To calculate and display an amortization...

Page 79: ...hedule go to page 82 to continue 7 Key in the number of payments to be amortized at one time and press For example to see a year of monthly payments at one time set P to 12 To amortize the entire life of a loan at one time set P equal to the total number of payments N If P 12 the display would show Current set of payments to be amortized Number of payments amortized at one time Press to see result...

Page 80: ...ule To purchase your new home you have taken out a 30 year 65 000 mortgage at 12 5 annual interest Your monthly payment is 693 72 Calculate the amount of the first year s and second year s payments that are applied toward principal and interest Then calculate the loan balance after 42 payments 3 years Keys Display Description Displays TVM menu 12 5 Stores annual interest rate 65000 Stores loan amo...

Page 81: ...irst year Displays principal paid in first year Displays balance at end of first year Calculates amortization schedule for next 12 payments Displays results for second year To calculate the balance after 42 payments 3 years amortize 18 additional payments 42 24 18 18 Calculates amortization schedule for next 18 months Displays results ...

Page 82: ...hown at one time and press d For instance for one year of monthly payments at a time INCR 12 11 Press e Values are retained until you exit the TABLE menu so you can print successive amortization schedules by re entering only those TABLE values that change Example Printing an Amortization Schedule For the loan described in the previous example page 80 print an amortization table with entries for th...

Page 83: ...5 Time Value of Money 83 6 12 The 72nd is the last payment in year 6 12 Each table entry represents 12 payments 1 year Calculates and prints amortization schedule shown below v ...

Page 84: ...t pays interest quarterly with a bond that pays interest semiannually The nominal rate is the stated annual interest rate compounded periodically such as 18 per year compounded monthly The effective rate is the rate that compounded only once that is annually would produce the same final value as the nominal rate A nominal annual rate of 18 compounded monthly equals an effective annual rate of 19 5...

Page 85: ...ing Continuous compounding Converting Interest Rates To convert between a nominal annual interest rate and an effective annual interest rate that is compounded periodically 1 Press to display the interest conversions menu 2 Press for periodic 3 Key in the number of compounding periods per year and press 4 To convert to the effective rate first key in the nominal rate and press then press 5 To conv...

Page 86: ... menus For example an effective interest rate in CONT remains stored in EFF when you exit the CONT menu and enter the PER menu Pressing c in either menu clears NOM and EFF in both NOM NOM PER ICNV EFF EFF CONT P Shared variables between PER and CONT Example Converting from a Nominal to an Effective Interest Rate You are considering opening a savings account in one of three banks Which bank has the...

Page 87: ... CONT menu Previous values of NOM and EFF are retained Calculates effective rate for bank 3 The calculations show that bank 3 is offering the most favorable interest rate Compounding Periods Different from Payment Periods The TVM menu assumes that the compounding periods and the payment periods are the same However regularly occurring savings account deposits and withdrawals do not necessarily occ...

Page 88: ...s you will be making per year in b Press 4 Return to the TVM menu ee 5 Store the just calculated nominal interest rate in I YR press s 6 Store the number of payments or withdrawals per year in and set the appropriate payment mode 7 Continue with the TVM calculation Remember that money paid out is negative money received is positive a N is the total number of periodic deposits or withdrawals b PV i...

Page 89: ...sis At the end of 7 years how much will you receive from the account Keys Display Description Periodic interest rate conversion menu 365 Stores bank s compounding periods 5 Stores bank s nominal interest rate Calculates effective interest rate for daily compounding 12 Stores number of deposits per year Calculates equivalent nominal interest rate for monthly compounding ee Switches to TVM menu NOM ...

Page 90: ...deposit Value of account in 7 years If the interest rate were the unknown you would first do the TVM calculation to get I YR 5 01 Then in the ICNV PER menu store 5 01 as NOM and 12 as P for monthly compounding Calculate EFF 5 13 Then change P to 365 for daily compounding and calculate NOM 5 00 This is the bank s rate ...

Page 91: ...ent value NPV net uniform series NUS and net future value NFV for a specified periodic interest rate I You can store many separate lists of cash flows The maximum number depends on the amount of available calculator memory The CFLO menu FIN TVM CALC TOTAL BUS ICNV INSR IRR SUM CFLO DELET I TIME BOND NAME NPV SOLVE DEPRC GET NUS NFV CURRX The CFLO menu creates cash flow lists and performs calculati...

Page 92: ...ess I once This does not affect number entry To see this menu when the calculator line is in the display press e Cash Flow Diagrams and Signs of Numbers The sign conventions used for cash flow calculations are the same as those used in time value of money calculations A typical series of cash flows is one of two types Ungrouped cash flows These occur in series of cash flows without groups of equal...

Page 93: ...sitive for money paid out the line points down negative In this case the investor has invested 700 This investment has generated a series of cash flows starting at the end of the first period Notice that there is no cash flow a cash flow of zero for period five and that the investor pays a small amount in period six Grouped cash flows These occur in a series containing groups of equal consecutive ...

Page 94: ...ing a Cash Flow List To use CFLO be sure your cash flows are occurring at regular intervals and at the end of each period If a period is skipped enter zero for its cash flow If there are any grouped consecutive and equal cash flows the TIMES prompting makes entering the data easier If the cash flows occur at the beginning of each period then combine the first flow with the initial flow which can i...

Page 95: ... For more information see Prompting for TIMES next page 4 Key in the value of the initial cash flow FLOW 0 remember that money paid out is negative use to change the sign and press I 5 After briefly showing FLOW 0 the display shows To view FLOW 0 longer hold down I before releasing it Key in the value for FLOW 1 and press I The prompt for the next item appears 6 For grouped cash flows The display ...

Page 96: ...ed to correct the list name the list get another list or do calculations with the values Use these same instructions to enter additional lists Prompting for TIMES T When the calculator displays it is prompting you for the number of times the current flow occurs If all your cash flows are different TIMES always 1 then you don t need the prompt You can turn the prompting for TIMES on and off by pres...

Page 97: ... 2 275 1 125 3 200 Keys Display Description c Asks for confirmation Clears data from list and prompts for initial flow Sets prompting off be cause it is not needed 500 I Enters initial flow then immediately prompts for next flow 125 I Enters FLOW 1 prompts for next flow 275 I Enters FLOW 2 prompts for next flow 200 I Enters FLOW 3 prompts for next flow e Ends list and displays CALC menu Calculates...

Page 98: ... then enter a new cash flow and its TIMES For example if FLOW 6 is in the display pressing puts a new zero flow between the previously numbered FLOW 5 and FLOW 6 Deleting Cash Flows from a List Pressing deletes both the current flow and its TIMES Copying a Number from a List to the Calculator Line To copy a number from the list into the calculator line use or to display the number then press R I N...

Page 99: ...s the same as the last one used To start a new list or switch to a different one the current list must be named or cleared If it is named then 1 Press The GET menu contains a menu label for each named list plus 2 Press the key for the desired list brings up a new empty list Clearing a Cash Flow List and Its Name To clear a list s numbers and name 1 Display the list you want to clear then press c T...

Page 100: ...ternal rate of return IRR This is a periodic rate of return To calculate an annual nominal rate when the period is not a year multiply the IRR by the number of periods per year If you want the IRR as an effective annual rate then use the FIN ICNV menu to convert from the nominal annual rate to the effective annual rate Net present value NPV net uniform series NUS and net future value NFV for a spe...

Page 101: ...eries of cash flows by finding the future value of the net present value The calculations for internal rate of return are complex and may take a relatively long time To interrupt the calculation press any key In certain cases the calculator displays a message indicating that the calculation cannot continue without further information from you or that there is no solution Refer to appendix B for ad...

Page 102: ...ddition calculate the net present value and net future value assuming an annual interest rate of 10 5 Start the problem with an empty cash flow list Since the cash flows are ungrouped each one occurs just once Turn off the TIMES prompt to make cash flow entry faster Keys Display Description Displays current cash flow list and CFLO menu keys c or Clears current list or gets a new one The empty list...

Page 103: ...ores FLOW 4 115000 I Stores final cash flow and shows end of list e Calculates sum of the cash flows Calculates internal rate of return 10 5 Stores periodic interest rate Calculates NPV Calculates NFV Now calculate the net present value at an interest rate of 10 5 if cash flow 4 is reduced to 1 000 e Displays the bottom of the list Moves to cash flow 4 1000 I Changes cash flow 4 to 1 000 e Calcula...

Page 104: ...rest rate of 9 _ 9 000 0 500 500 500 1 000 1 000 1 000 1 000 1 500 1 500 1 500 Since some of these cash flows are grouped consecutive and equal the TIMES prompting must be on so you can specify a number other than 1 Group Number Amount Number of Times Initial 1 2 3 4 9 000 500 1 000 0 1 500 3 4 1 3 Keys Display Description Current cash flow list and CFLO menu c Clears current list TIMES prompting ...

Page 105: ...I Stores FLOW 4 three times e Displays the CALC menu Calculates monthly IRR 9 12 Stores the periodic monthly interest rate Calculates NPV Calculates NFV Example An Investment with Quarterly Cash Returns You have been offered an opportunity to invest 20 000 The investment returns quarterly payments over four years as follows Year 1 4 payments of 500 Year 2 4 payments of 1 000 Year 3 4 payments of 2...

Page 106: ...or TIMES should be on Keys Display Description Current cash flow list c or Clears the current list or gets a new one This sets the TIMES prompting on 20000 I Stores the initial cash flow 500 I Stores FLOW 1 then prompts for number of times this flow occurs 4 I FLOW 1 occurs four times 1000 I 4 I 2000 I 4 I 3000 I 4 Stores FLOW 2 FLOW 3 and FLOW 4 and the number of times each flow occurs ...

Page 107: ...ou would like to do other calculations with cash flows besides those in the CALC menu you can do so by writing your own Solver equations There are Solver functions that can access data stored in CFLO lists and there is a summation function that can combine all or part of the values stored in specific lists Refer to Accessing CFLO and SUM Lists from the Solver in chapter 12 v ...

Page 108: ... days per month days per year Municipal state and corporate bonds issued in the United States are typically 30 360 U S Treasury bonds are actual actual Coupon payments semi annual or annual Most U S bonds are semi annual The BOND Menu FIN TVM TYPE YLD BUS ICNV SETT PRICE SUM CFLO MAT ACCRU TIME BOND CPN SOLVE DEPRC CALL MORE MORE CURRX Pressing shows you the BOND menu and the type of bond currentl...

Page 109: ...ce per 100 face value For a yield to maturity make sure CALL equals 100 A bond at maturity has a call value that is 100 of its face value Stores or calculates the yield as an annual percentage to maturity or yield to call date Stores or calculates the price per 100 face value Calculates the interest accrued from the last coupon payment date until the settlement date per 100 face value The calculat...

Page 110: ...ND menu press 2 Press c This sets CALL 100 3 Define the type of bond If the message in the display does not match the type you want press Calendar basis Interest period Pressing sets the calendar basis to a 30 day month and a 360 day year Pressing sets the calendar basis to the actual calendar month and to the actual calendar year Pressing sets semi annual coupon payments Pressing sets annual coup...

Page 111: ...t directly into a variable Do not clear the arithmetic and then retype the result before storing it this is an unnecessary step that can cause incorrect answers due to rounding See how the following example stores 83 8 in YLD Example Price and Yield of a Bond What price should you pay on August 10 2003 for a 6 U S Treasury bond that matures on May 1 2018 if you wish a yield of 83 8 The calendar ba...

Page 112: ...ores quoted price Result yield to maturity Example A Bond with a Call Feature What is the price of a 6 corporate bond maturing on March 3 2022 and purchased on May 2 2003 to yield 5 7 It is callable on March 3 2006 a coupon date at a value of 102 75 What is the yield to the call date Use a 30 360 calendar with semi annual coupon payments Keys Display Description c Displays BOND menu clears variabl...

Page 113: ...l Example A Zero Coupon Bond Calculate the price of a zero coupon semi annual bond using a 30 360 calendar basis The bond was purchased on May 19 2003 and will mature on June 30 2017 and has a yield to maturity of 10 Keys Display Description c Clears BOND variables setting CALL to 100 e Sets type if necessary check the display 5 192003 Purchase date MM DDYYYY format 6 302017 Maturity date 0 Coupon...

Page 114: ...depreciable values one year at a time The methods available are Declining balance Sum of the years digits Straight line Accelerated Cost Recovery System The DEPRC Menu FIN TVM BASIS YR BUS ICNV SALV FACT SUM CFLO LIFE DB SOYD SL TIME BOND ACRS SOLVE DEPRC ACRS MORE MORE CURRX Pressing displays the DEPRC menu ...

Page 115: ...in SALV LIFE FACT and YR do not matter Stores the number of the year for which you want the depreciation 1 2 etc Stores the declining balance factor as a percentage of the straight line rate This is for the DB method only For example for a rate 1 times 125 the straight line rate enter 125 Calculates the declining balance depreciation for the year Calculates the sum of the years digits depreciation...

Page 116: ...nu 4 Key in the number for the year of depreciation you want to calculate 1 2 3 etc and press 5 If you are using the declining balance method enter the DB factor a percentage and press 6 Press or to calculate the appropriate depreciation 7 To see the remaining depreciable value basis salvage value accumulated depreciation press 8 To calculate the depreciation for another year just change YR and pr...

Page 117: ...aight line rate For comparison find the straight line depreciation as well Keys Display Description Displays DEPRC menu 10000 Cost basis 500 Salvage value 5 Useful life 1 First year of depreciation 200 DB percentage factor Depreciation in first year Salvage value ignored at this point Remaining depreciable value after first year BASIS SALV 4 000 2 Depreciation in second year Remaining depreciable ...

Page 118: ...s that list the percentage of an asset s basis that can be deducted each year of its prescribed life Look up that value enter it and press 4 Press to calculate the value of the deduction Example ACRS Deductions Use the ACRS method to find the in come tax deduction for a 25 000 asset over 3 years of a 5 year life Use this hypothetical ACRS table Year Percentage Deductible 1 2 3 4 5 15 25 20 20 20 K...

Page 119: ...y to the ACRS method Suppose you acquired an asset in October and wanted to depreciate it for 3 years Your fiscal year begins January 1st The depreciation schedule would affect parts of 4 years as shown in the illustration The 3 months from October to December equal year Number of months Calendar years Depreciation years 1 1 2 2 3 3 4 3 9 3 year life For SL depreciation partial year calculations a...

Page 120: ...of 500 Using the sum of the years digits method find the amount of depreciation for the fourth year Assume the first depreciation year was 11 months long Keys Display Description Displays DEPRC menu 12000 500 10 3 Stores known values Calculates depreciation for year 3 12 s 1 Stores 1 month s depreciation from year 3 4 Calculates depreciation for year 4 11 12 Figures 11 months depreciation from yea...

Page 121: ...smallest number in the list Sort the list from smallest number to largest number With two lists of numbers you can Do curve fitting and forecasting calculations using two SUM lists and one of four models linear exponential logarithmic and power Curve fitting for the linear model is called linear regression Calculate the weighted mean and grouped standard deviation Find the summation statistics x x...

Page 122: ...ble 10 1 SUM Menu Labels Menu Label Description Accesses the CALC menu to calculate the total mean median standard deviation range minimum maximum sorting and linear regression including weighted mean and summation statistics Allows you to insert numbers into the list Deletes numbers from the list Allows you to name the list Allows you to switch from one named list to another or to create a new li...

Page 123: ...he bottom of the current list 2 If the list is empty start filling it step 3 If the current list is not empty you can do either a or b a Clear the list by pressing c see also page 127 b Get a new list by pressing The old list must be named first Press or see page 126 3 Key in the value of the first item ITEM 1 press for a negative number and press I To view ITEM 1 longer hold down I before releasi...

Page 124: ...lculations Use these same instructions to enter additional lists Viewing and Correcting the List To display a particular list use see page 127 The and keys move up and down the list one number at a time and display the beginning and end of the list Changing or Clearing a Number To change a number after it s been entered display the number key in the new value and press I Use the same method to cle...

Page 125: ...Balance 267 82 6 3 Check 128 90 6 1 Deposit 837 42 6 7 Check 65 35 6 1 Check 368 23 6 10 Deposit 55 67 6 2 Check 45 36 Update the checkbook by calculating the running balance Keys Display Description c Displays empty SUM list 267 82 I Enters beginning balance and shows running total 837 42 I Enters deposit on 6 1 368 23 I 45 36 I 128 90 I 65 35 Enters remaining transactions If you want to preserve...

Page 126: ...name a list 1 Press from the SUM menu 2 Use the ALPHA menu to type in a name The ALPHA and ALPHA Edit menus are covered on pages 30 32 To clear a name press C 3 Press I The name can be up to 22 characters long and include any character except x space But only the first three to five characters depending on letter widths of the name are used for a menu label Avoid names with the same first characte...

Page 127: ...numbers 2 If the list is named you ll see Press to remove the name Press to retain the name with an empty list To remove just one value at a time from a list use Doing Statistical Calculations CALC Once you have entered a list of numbers you can calculate the following values For one variable the total mean median standard deviation range minimum and maximum You can also sort the numbers in order ...

Page 128: ...in the list Sorts the list in ascending order Displays a series of menus for calculations with two variables for curve fitting estimation weighted mean and grouped standard deviation and summation statistics The calculator finds the sample standard deviation The formula assumes that the list of numbers is a sampling of a larger complete set of data If the list is in fact the entire set of data the...

Page 129: ...onthly phone bills Then display the smallest value in the list Keys Display Description Displays current SUM list and SUM menu keys c or Clears current list or gets a new one 340 I Stores May s phone bill shows total 175 I Stores June updates total 450 I 780 I 245 I 625 I Stores phone bills for July October and keeps a running total e Displays CALC menu Calculates mean Calculates median Calculates...

Page 130: ...riables FRCST The FRCST menu does the following two variable calculations using two SUM lists Fits x and y data to a linear logarithmic exponential or power curve Forecasts estimated values based on that curve Finds the weighted mean and grouped standard deviation Shows you the summation statistics Σx Σx2 Σy Σy2 Σxy etc ...

Page 131: ...N y list W MN MAX MEDN CORR G SD SORT FRCST select x and y STDEV M RANGE B SIZE MORE MORE MORE MORE MORE LIN LOG EXP PWR After pressing you must specify two previously created lists one for the x variable and one for the y variable The two lists must have the same number of items ...

Page 132: ...culated curve Calculates M For the linear model this is the slope Calculates B For the linear model this is the y intercept Displays a choice of the four curve fitting models and Calculates the weighted mean of the x values using the weights in the y list Calculates the standard deviation of a set of x values grouped by frequencies specified in the y list The number of items in either list Sum of ...

Page 133: ...e variable You can select one of four curve fitting models Linear Curve Fit Logarithmic Curve Fit Exponential Curve Fit Power Curve Fit y y y y x x x x Mx M The exponential logarithmic and power models are calculated using transformations that allow the data to be fitted by standard linear regression The equations for these transformations appear in appendix B The logarithmic model requires positi...

Page 134: ... y values dependent variable 5 Now you see the FRCST menu Whichever curve fitting model was used last is named in the display If you want to select a different model press and then the menu key for the model 6 To calculate the curve fitting results press and 7 To forecast estimate a value a Key in the known value and press the menu key for that variable b Press the menu key for the variable whose ...

Page 135: ... 4 1 400 920 1 100 2 265 2 890 2 200 BJ s wants to determine whether there is a linear relationship between the amount of radio advertising and the weekly sales If a strong relationship exists BJ s wants to use the relationship to forecast sales A graph of the data looks like this 0 1 2 3 4 5 6 7 x 1 000 2 000 3 000 y SALES in Dollars B of Advertising forecasted M 425 88 ...

Page 136: ...5 I 5 I 4 I Stores minutes of advertising x values into a SUM list e MINUTES I Names this list See page 30 to use the ALPHA menu Now enter and name the second list Gets a new empty list 1400 I 920 I 1100 I 2265 I 2890 I 2200 I Stores weekly sales y values into a second SUM list e SALES I Names y list Identifies the lists for curve fitting ...

Page 137: ...ss purchased 7 minutes of advertising time per week 7 Stores 7 in variable MINUTES Forecasts the sales resulting from 7 minutes of radio advertising How many minutes of advertising should BJ s buy if it wants to attain sales of 3 000 3000 The business should buy about 6 minutes of advertising for sales of 3 000 If the model named here is not the one you want to use press and select the one you wan...

Page 138: ...named otherwise 4 Press the menu key for the list of x values 5 Now select the list with the weights or frequencies y 6 To calculate the weighted mean press 7 To calculate the grouped standard deviation press Example Weighted Mean A survey of 266 one bedroom rental apartments reveals that 54 of them rent for 200 per month 32 for 205 88 for 210 and 92 for 216 What is the average monthly rent and it...

Page 139: ...ist as the y list and then displays the FRCST menu Ignore model type Average monthly rent Standard deviation of the rents Summation Statistics The summation values are of interest if you want to perform other statistical calculations besides those provided by the calculator To find Σx Σx2 Σy Σy2 Σ xy and n the number of elements in either list 1 Display the FRCST menu and select the x and y lists ...

Page 140: ...ing Other Calculations with SUM Data If you would like to do other statistical calculations with SUM data besides those in the CALC menu you can do so by writing your own Solver equation There are Solver functions that can access data stored in SUM lists and there is a summation function that can combine all or part of the values stored in specific lists Refer to Accessing CFLO and SUM Lists from ...

Page 141: ...ear or day month year calendar You can Record appointments that set alarms with optional messages Determine the day of the week for a particular date Calculate the number of days between two dates using the 360 day the 365 day or the actual calendar Viewing the Time and Date To view the time and date press in the MAIN menu If you overwrite the time and date you can restore them to the display by p...

Page 142: ...e TIME Menu Labels Menu Label Description Displays the CALC menu for calculating the day of the week and other date arithmetic Displays the APPT menu for setting and viewing appointments Displays the ADJST menu for adjusting the clock setting Displays the SET menu for setting the time and date and for selecting the time and date formats ...

Page 143: ...and 24 hour clock formats Displays the formats for entering the clock s date and time To set the time 1 Press to display the SET menu 2 Key in the correct time in the current format or indicates the 12 hour clock For example for 9 08 30 p m enter 9 0830 in a 12 hour clock or 21 0830 in a 24 hour clock 3 Press to set the new time 4 For 12 hour format press to switch between AM and PM To set the dat...

Page 144: ... formats To switch between the 12 and 24 hour clocks press To switch between the month day year and day month year calendars press Adjusting the Clock Setting ADJST The ADJST menu adjusts the time setting forward or backward in increments of hours minutes or seconds 1 Press 2 Press the appropriate menu key s until the correct time is displayed For example if the current time setting is 11 20 xx AM...

Page 145: ...APT1 APT10 Table 11 3 Menu Labels for Setting Appointments Menu Label Description Sets the appointment date Sets the appointment time and automatically enters the current date if the existing appointment date was in the past Sets AM or PM for 12 hour clock Displays the ALPHA menu and any existing message Displays the existing repeat interval and the menu for changing the repeat interval Displays t...

Page 146: ... Setting the appointment time Use 12 hour or 24 hour time as appropriate Key in the time as a number in the form HH MM For example 2 25 p m would be 2 25 12 hour format or 14 25 24 hour format Press The date is automatically set to the current date if the existing date is in the past or was cleared For 12 hour format press to switch between AM and PM 5 Setting the appointment date Key in the date ...

Page 147: ... to return to the APPT menu The appointment you just set will be recorded such as You can check an appointment by pressing its menu key such as C restores an appointment s time and date to the display if it has been overwritten by other operations Acknowledging an Appointment To acknowledge the appointment and clear the message press any key except during the beeping Appointments not acknowledged ...

Page 148: ...ent has been acknowledged Clearing Appointments To cancel an appointment or to get rid of a repeating appointment you need to clear the appointment Clearing changes the date and time to 00 00 00 12 00 AM and removes the message and the repeat interval To clear an appointment press the menu label for that appointment and press c To clear all ten appointments display the APPT menu the menu with etc ...

Page 149: ...at interval e Returns to APPT menu Appt 4 is set Date Arithmetic CALC The CALC menu performs date arithmetic Determines the day of the week for any date Determines the number of days between dates using one of three calendars actual 365 day or 360 day Adds or subtracts days from a date to determine a new date The calendar for date arithmetic runs from October 15 1582 to December 31 9999 To display...

Page 150: ...ber of days between DATE1 and DATE2 using the 365 day calendar ignoring leap years A shortcut recalls the current date which can then be stored in DATE1 or DATE2 The calculator retains the values for the TIME CALC variables DATE1 DATE2 DAYS until you clear them by pressing c while the CALC menu is displayed To see what value is currently stored in a variable press R menu label Determining the Day ...

Page 151: ...is month day year Keys Display Description Displays CALC menu 4 202003 Stores Apr 20 2003 as first date and displays its day of the week 8 022040 Stores Aug 2 2040 as second date Calculates actual number of intervening days Calculates number of intervening days by a 365 day calendar Calculating Past or Future Dates To calculate a date a specified number of days from another date 1 Key in the known...

Page 152: ... Determining a Future Date On February 9 2003 you purchase a 120 day option on a piece of land Determine the expiration date Assume the date format is month day year Keys Display Description Displays CALC menu 2 092003 Stores Feb 9 2003 120 Stores number of days into the future Calculates expiration date DATE2 ...

Page 153: ...uations is limited only by the amount of memory available The equations are stored in a list FIN BUS CALC SUM EDIT TIME DELETE SOLVE NEW CURRX Solver Example Sales Forecasts Suppose part of your job includes making sales forecasts and that these forecasts are revised based on new information For instance A change in the price of the product will affect sales by a forecasted percentage A A change i...

Page 154: ...labels by pressing I Each menu label represents a variable You can use them to store and calculate values the same way you use other menus and their built in variables Entering a Solver Equation To type this equation you must use the ALPHA menu If you are not familiar with the ALPHAbetic menu refer to Typing Words and Characters on page 30 Keys Display Description Displays SOLVE menu then ALPHA me...

Page 155: ...ice of the product has dropped causing an expected 20 increase in sales B A major sales force training program started causing an expected 5 increase in sales C A competitor is introducing a new product causing an expected 15 drop in sales Calculate the new forecast for next month Menu Label Display Description Verifies that equation is valid creates Solver menu with menu labels for this equation ...

Page 156: ... must be for NEXT to equal 2 300 units All you need to do is re enter the one value you are changing Keys Display Description 2300 The training program would need to result in a 10 increase in sales to effect a new forecast of 2 300 The SOLVE Menu If the Solver list is empty you will see an instruction for entering an equation when you press If the Solver list is not empty you will see the current...

Page 157: ...rking with a specific equation in the Solver the equation s own menu appears in the display To retrieve the primary SOLVE menu press e Entering Equations To make an entry into the Solver list 1 Press To insert the new entry at the bottom of the list press 2 Use the ALPHA menu to type in characters see page 30 and use the regular keyboard to type in digits and arithmetic operators yx etc If you mak...

Page 158: ...ure you ve made no typing mistakes and that you ve followed the rules for writing equations given on page 166 under What Can Appear in an Equation An entry that is not an equation will be stored when you press I but it cannot be verified when you press Calculating Using Solver Menus CALC If pressing creates a Solver menu for your equation then the equation is good that is mathematically valid If t...

Page 159: ...f changing numbers such as then the Solver is searching for a result for the variable A Read the section How the Solver Works starting on page 179 Example Return on Equity The Return on Equity of a business can be defined as ROE Operating income Interest Taxes Common equity Find the ROE of a small firm with 2 000 in assets The assets earned 10 while its debt cost it 8 The assets were financed usin...

Page 160: ...uation I Stores the equation Verifies the equation and displays the menu labels for ROE ASSET ERN DEBT INT and press TAX and EQTY 2000 10 1500 8 0 500 Stores the values for the assets the percentage earnings on assets the amount of debt the percentage interest paid on the debt the taxes paid and the common equity The return on equity is 16 ...

Page 161: ...I to replace the previous version with the edited version Editing an equation clears its variables To abort an editing operation without saving any of the changes press e Naming an Equation Naming equations helps you identify them later The name precedes the equation separated by a colon If you don t name an equation initially you can name it later using Type the name just as you type the rest of ...

Page 162: ...ue for COST using the RUG equation then switch to the TOTAL equation and calculate CHARGE after entering HOURS Since the value for COST is shared you do not need to store it again No sharing occurs between variables outside the Solver and those within the Solver For example this COST variable in the Solver is not shared with the COST variable in the MU C and MU P menus in BUS To transfer values be...

Page 163: ...and Equations Each equation in the Solver list uses calculator memory to store 1 itself and 2 its variables Deleting a variable is quite different from clearing it Clearing a variable sets it to zero the variable retains its storage location in memory This does not save memory space Deleting a variable erases its value and its storage location This is a way to save memory space If a variable is sh...

Page 164: ... to This preserves the equation Deleting All Equations or All Variables in the Solver c To delete all the equations in the Solver or just all the variables in all the equations 1 Display the SOLVE menu It doesn t matter which equation is displayed 2 Press c To delete all equations respond to both questions 3 To delete just the variables respond to This preserves all equations Writing Equations An ...

Page 165: ... the 3rd power write the equation as Multiplication and division before addition and subtraction For example is interpreted as A B C 12 To divide the sum of A B by C enter the equation as Parentheses Parentheses override the above rules of priority When in doubt use parentheses It never hurts to use parentheses even multiple parentheses Do not use brackets or braces For example earlier page 154 we...

Page 166: ...Press to view successive portions of the equation Spaces You can use as many spaces as you like between variables operators and numbers Names of Variables A variable s name can be up to 10 characters long but cannot contain the characters x space The first three to five characters depending on their widths become the variable s menu label Therefore make sure no two variables in the same equation h...

Page 167: ...hese operators except can be included in an equation In the Solver is just a character You can call up the MATH menu from the Solver Many of these operators look different in an equation pressing v produces for example You then supply a number or variable followed by a closing parenthesis The list of Solver functions on pages 168 171 shows the spelling of each function Note that you supply the num...

Page 168: ...e MATH selection 25 This also calculates 25 and with fewer keystrokes Solver Functions Here is a complete list of functions that you can include in Solver equations The items inside parentheses must be replaced by specific numbers variables or algebraic expressions In addition you can use the arithmetic operators x yx but not In the Solver is just a character not an operator ...

Page 169: ...and d2 Formats for d1 and d2 are set in the TIME menu cal designates the calendar cal 1 for the actual calendar which recognizes leap years cal 2 for the 365 day calendar which ignores leap years cal 3 for the 360 day calendar which uses 12 30 day months EXP x Natural antilogarithm ex EXPM1 x ex 1 FACT x x factorial of a positive integer FLOW CFLO listname flow Value of the specified cash flow FP ...

Page 170: ...in the SOLVE menu if it is only used in L and G functions This is useful if you have a complex expression that uses the same sub expression multiples times for example 1 i Nx PV 1 1 i N 1 1 i x PMT FV It can be written LN x Natural base e log of x LNP1 x In 1 x LOG x Common base 10 log of x MAX x y Compares x and y and returns the larger of the two MIN x y Compares x and y and returns the smaller ...

Page 171: ... SPPV i n Present value of a single 1 00 payment equivalent to 1 SPFV i n n is the number of compounding periods i is the interest rate per compounding period expressed as a percentage SQ x Square of x x2 SQRT x Square root of x X T CFLO listname flow The number of times that specified cash flow occurs TRN x y Truncates x to y decimal places if 0 y 11 or truncates x to y significant digits if 12 y...

Page 172: ...t for this odd non integer period is calculated by multiplying the monthly interest by the number of days and dividing by 30 The formula for this loan is 1 1 1200 1 0 1200 30 1200 N ANNI ANNI DAYS PV PMT ANNI where ANNI the annual percentage interest rate N the number of payment periods DAYS the number of leftover odd days an integer from 0 through 30 PV the amount of the loan PMT the monthly paym...

Page 173: ...PHA menu type in equation as shown above Remember that the colon is located after Press I Enters equation verifies it and creates menu 6000 Stores loan amount in PV 13 5 Stores annual percent interest in ANNI 5 Stores number of odd days in DAYS 36 Stores number of payments in N Calculates monthly PMT of 203 99 ...

Page 174: ...expression For example the solver accepts the equation According to this equation if SALES is greater than 3000 then the BONUS equals 02 SALES otherwise or else BONUS equals 01 SALES Logical Operators Four logical operators can be used in conditional expressions AND OR XOR and NOT Relational Operators Six relational operators are available for conditional expressions Operator Keys ALPHA menu ALPHA...

Page 175: ... 0 and B 0 T 0 When A 0 and B 0 T W x A x B Example Nested IF Functions An IF function can be used as the argument of another IF function This is called nesting Suppose a corporation uses a rating system to determine salary Employees are rated on a scale from 1 through 3 and are given the following annual percent raise based on their rating Rating Percent Salary Increase 1 2 3 3 6 10 The Solver eq...

Page 176: ...ting value ending value step size algebraic expression The counter variable takes on a series of values beginning with the starting value and incrementing according to the step size until it passes the ending value For each value of the counter the algebraic expression is evaluated and the value is added to the previous value The Σ function returns the final summation For example when the equation...

Page 177: ...The following Solver functions gain access to these lists CFLO listname returns the number of the last flow in the specified CFLO list For example if the last flow in the list INV were then would equal 6 00 CFLO listname flow number returns the value of the specified flow CFLO listname flow number returns the number of times the specified flow occurs SUM listname returns the number of items in the...

Page 178: ... the display all the time you don t have to switch equations For example consider these two equations for conversions and The following rearranged single equation can do either conversion This means if you are solving for either KG or LB then use KG 2 21 LB 0 Otherwise that is if you are solving for M or FT use M 3 28 FT 0 The two conversion equations are rewritten so that all the variables appear...

Page 179: ... displays the result If the Solver is unable to find a direct solution it tries to find the answer indirectly by iteration It estimates a set of answers sees how close they are to a solution and then makes another set of estimates The calculator displays the Solver s current estimates as the Solver searches for an answer You should keep in mind that there might be more than one solution to an equa...

Page 180: ...possible solution but you must interpret its validity To see the questionable solution press or C Refer to Solver Calculations in appendix B for more information Case 3 The calculator displays The Solver cannot begin the search with the current guesses Press or C to view the starting guesses To supply new guesses see Entering Guesses below Case 4 The calculator displays Check to see if your equati...

Page 181: ...gin searching for another answer You can enter one or two guesses If you enter one guess the Solver makes a second guess If you enter two guesses the Solver uses those two guesses to start searching for a solution The Solver works most efficiently when the answer is between your two guesses For example if you know the answer is between 5 and 12 you should enter 5 and 12 as the starting guesses To ...

Page 182: ...tween 100 and 200 pianos to make an acceptable profit You can use this information as initial guesses Press then enter the equation Keys Display Description I Stores verifies and creates labels for the equation 6000 Stores price 4100 112000 130000 Stores variable cost fixed cost and profit The following steps enter guesses for QTY If the Solver must search iteratively to solve for QTY it will begi...

Page 183: ...12 The Equation Solver 183 Solves for QTY iteratively ...

Page 184: ...ulator to printer the calculator cannot determine whether the printer is receiving information If a printing operation involves many lines of information the calculator slows its transmission rate to allow the printer time to print To preserve battery power the calculator will not transmit data to the printer when the low power annunciator is on If a low power condition occurs after you ve started...

Page 185: ...e desired mode 3 Press e For long printing operations printing will be faster using the printer s ac adapter and the calculator s appropriate printing speed mode When the printer is powered by batteries alone be sure to change the mode to so that the calculator will not transmit data too rapidly Double Space Printing Press to turn double space printing on or off Then press e Printing the Display P...

Page 186: ...s those printing activities Table 13 1 The PRINTER Menu Labels Menu Label Description Prints data stored or calculated in the current menu See Printing Variables and Lists below Prints the contents of the history stack Prints the contents of registers 0 through 9 Prints the current date and time Displays the ALPHA menu for typing a message up to 22 characters long See page 188 Switches between Tra...

Page 187: ... now produces a print out like this Printing Number Lists To print out the contents of a particular SUM or CFLO list that list must be the current list Pressing p while a SUM list named SALES is the current list produces labeled output like this Printing Solver Equations To print one or all Solver equations display the main SOLVE menu press To print just the current equation press P To print out t...

Page 188: ...with your printed output by using For example suppose you wanted to print a number that represents the balance for September You could start the output with the label SEPTEMBER BALANCE 1 Press p then This brings up the ALPHA menu 2 Type and edit the label or message 3 Press I to print out the label or message Now print out the number itself if it s in the calculator line press P Trace Printing TRA...

Page 189: ...n Produce a record of the keystrokes you use to do the following calculation and store the result in the TVM variable PMT 1 12 4 800 125 Press p to set If you see press again Keys Print out e 12 t 4800 125 p e How to Interrupt the Printer Pressing a calculator key during a printing operation will interrupt transmission but not immediately stop the printing To stop the printer immediately turn it o...

Page 190: ...7 simple annual interest to be calculated on a 365 day basis How much interest will she owe you in 60 days and what is the total amount owed The interest is 7 of 450 60 days 365 days Keys Display Description 450 7 Annual interest 60 365 Actual interest for 60 days 450 Add principal to get total debt A Solver Equation for Simple Annual Interest DEBT the total owed at the end of the loan period LOAN...

Page 191: ...FV and the price paid for the mortgage new PV Remember the cash flow sign convention money paid out is negative money received is positive Example Discounted Mortgage An investor wishes to purchase a 100 000 mortgage taken out at 9 for 20 years Since the mortgage was issued 42 monthly payments have been made The loan is to be paid in full a balloon payment at the end of its fifth year What is the ...

Page 192: ... menu sets 12 payments per year and End mode 20 Figures and stores total number of payments for a full 20 year loan with monthly payments 9 100000 Stores interest rate and amount of original loan Money paid out is negative 0 Sets FV to zero Calculates monthly payment received Step 2 Enter the new value for N given a balloon in 5 years then find FV the amount of the balloon Keys Display Description...

Page 193: ...which effectively raises the interest rate The actual amount received the PV by the borrower is reduced while the periodic payments remain the same The APR can be calculated given the term of the mortgage N periods the annual interest rate I YR the mortgage amount new PV and the basis of the fee charged how the fee is calculated Remember the cash flow sign convention money paid out is negative mon...

Page 194: ...lay Description c e If necessary sets 12 payments per year and End mode 30 Figures and stores number of payments 11 5 60000 Stores interest rate and amount of loan 0 No balloon payment so future value is zero Borrower s monthly payment R 2 Stores actual amount of money received by borrower into PV Calculates APR Example Loan from the Lender s Point of View A 1 000 000 10 year 12 annual interest in...

Page 195: ...tire loan amount as balloon payment 3 Calculates then stores amount borrowed total points Calculates APR the yield to lender Loan with an Odd Partial First Period The TVM menu deals with financial transactions in which each payment period is the same length However situations exist in which the first payment period is not the same length as the remaining periods This first period is sometimes call...

Page 196: ...tered the equation named ODD above into the Solver For instructions on entering Solver equations see Solving Your Own Equations on page 29 Example Loan with an Odd First Period A 36 month loan for 4 500 has an annual interest rate of 15 If the first payment is made in 46 days what is the monthly payment amount Select equation ODD in the Solver Keys Display Description Creates menu 36 36 payment pe...

Page 197: ...ys what annual interest rate is being charged Select equation ODD Keys Display Description Creates menu 10000 24 Stores known values 400 3000 8 Calculates periodic monthly interest rate 12 Annual interest rate Canadian Mortgages In Canadian mortgages the compounding and payment periods are not the same Interest is compounded semi annually while payments are made monthly To use the TVM menu in the ...

Page 198: ...and solving for the unknown item Do not change I YR from step 4 Example Canadian Mortgage What is the monthly payment required to fully amortize a 30 year 30 000 Canadian mortgage if the interest rate is 12 Keys Display Description c e Displays TVM menu sets 12 payments per year with End mode 0 6 200 12 Calculates I YR for Canadian mortgage factor 30 Stores other values 30000 0 Monthly payment A S...

Page 199: ...etimes call for the extra payments to be made when the transaction is closed A residual value salvage value can also exist at the end of the normal term The following equation calculates the monthly payment and the annual yield when one or more payments are made in advance It can be modified to accommodate periods other than monthly by changing the number 12 to the appropriate number of payment pe...

Page 200: ... months The equipment is assumed to have no salvage value at the end of the lease You agree to make three payments at the time of closing What is the monthly payment if the annual interest rate is 10 Select the ADV equation in the Solver Keys Display Description Creates menu 750 12 0 3 10 Stores known values Calculates payment Savings Value of a Fund with Regular Withdrawals Example A Fund with Re...

Page 201: ...is a straightforward TVM problem Remember that money deposited is paid out and therefore negative money withdrawn is received and therefore positive Step 1 Find the adjusted nominal interest rate Keys Display Description Displays periodic interest rate conversion menu 12 Stores number of compounding periods 10 Stores nominal interest rate Calculates effective interest rate 4 Stores number of withd...

Page 202: ...esent initial value of fund 20000 Stores withdrawal amount 4 Stores number of withdrawals in 1 year Value of fund at end of year 1 40 Stores number of withdrawals over 10 years Calculates value of fund at end of year 10 20 Stores number of withdrawals after 20 years Calculates value of fund at end of year 20 Deposits Needed for a Child s College Account See appendix F for RPN keystrokes for this e...

Page 203: ...his is cash received these cash flows will be positive 2 Store the periodic interest rate in I and calculate NUS The NUS equals the amount of the monthly deposit you will need to make You can also calculate the equivalent present value of all the monthly deposits combined by calculating the net present value NPV Example Savings for College Your daughter will be going to college in 12 years and you...

Page 204: ... 156 168 180 0 0 0 15 000 15 000 15 000 15 000 Figure 14 1 Flow of Withdrawals 1 3 2 178 179 180 0 9 00 Figure 14 2 Flow of Deposits Keys Display Description Displays current cash flow list and CFLO menu keys c or Clears current list or gets a new one ...

Page 205: ...5000 I Stores amount of first withdrawal at end of 12th year I 0 I Stores cash flows of zero 11 I for the next 11 months 15000 I I Stores second withdrawal for sophomore year 0 I 11 I Stores cash flows of zero for the next 11 months 15000 I I Stores third withdrawal for junior year 0 I 11 I Stores cash flows of zero for the next 11 months 15000 I I Stores fourth withdrawal for senior year e Done e...

Page 206: ...a tax free or tax deferred account such as an IRA or Keogh account Remember that for calculations with cash flows money paid out is negative and money received is positive Current tax law and your current income will determine whether just interest or also principal are tax free and for how long You can solve for either case N the number of payments until retirement I YR the annual dividend rate P...

Page 207: ...ue of the account Assume only the interest will be taxed Assume the principal was taxed before deposit 5 What is the purchasing power of that amount in today s dollars assuming an 8 annual inflation rate Keys Display Description 1 e Sets 1 payment per year and Begin mode 35 Stores number of payment periods until retirement 1 35 8 175 Stores dividend rate 0 Present value of account before first pay...

Page 208: ... on the interest is paid out of the account Assume the deposits have been taxed already N the number of years until retirement I YR the annual interest rate diminished by the tax rate interest rate 1 tax rate PV the current amount in the retirement account PMT the amount of the annual payment FV the future value of the retirement account Example Taxable Retirement Account If you invest 3 000 each ...

Page 209: ...egative to positive in a series of cash flows there is a potential for more than one IRR For example the cash flow sequence in the following example has three sign changes and hence up to three potential internal rates of return This particular example has three positive real answers 1 86 14 35 and 29 02 monthly The Modified Internal Rate of Return MIRR procedure is an alternative that can be used...

Page 210: ...ture value of the positive cash flows NFV at the reinvestment rate and store the result in register 1 Enter zero for any cash flow that is negative 3 In the TVM menu store the total number of periods in N the NPV result in PV and the NFV result in FV 4 Press to calculate the periodic interest rate This is the modified internal rate of return MIRR Example Modified IRR An investor has an investment ...

Page 211: ...LOW 2 5 I Stores FLOW 2 5 times You can skip FLOW 3 and FLOW 4 because they are equal to zero for this part e 8 12 Stores monthly safe interest rate Calculates NPV of negative cash flows s 0 Stores NPV in register 0 e Returns to CFLO menu c Clears list 0 I Stores zero as FLOW 0 Skip negative flows store positive flows 100000 I 5 I Stores FLOW 1 5 times 0 I Stores zero for FLOW 2 v ...

Page 212: ...V of positive cash flows s 1 Stores NFV in register 1 A c e Switches to TVM menu sets 12 periods per year with End mode if necessary 20 Stores total number of investment periods R 0 Recalls present value of negative cash flows and stores in PV R 1 Recalls future value of positive cash flows and stores in FV 0 Stores zero in PMT no payments Calculates annual MIRR v ...

Page 213: ...0 per year for alternative insurance for example a low cost term policy of the one year renewable type Even complex policies like minimum deposit plans can be analyzed with this procedure Use policy surrender values for cash values and the actual after tax amounts for payments premiums and dividends A Solver Equation for Insurance Price INS the price per 1 000 of protection in one policy year PREM...

Page 214: ...ce per 1 000 protection Select the correct equation in the Solver Keys Display Description Creates menu 1010 Stores annual premium 3302 Stores value of policy at end of last year 6 Stores interest rate you could get elsewhere 4104 Stores value of policy at end of this year 165 Stores annual dividend 50000 Stores face value of policy Your protection cost 6 57 per 1 000 face protection value Insuran...

Page 215: ...1 2031 The bond is callable on January 1 2006 at 110 that is 1 100 The bond is now selling at 115 174 that is 1 151 74 Determine both the yield to maturity and the yield to call for this bond First calculate the yield to maturity Keys Display Description Displays BOND menu e Sets semiannual bond on 30 360 calendar c Clears variables sets CALL to 100 3 162003 Stores today as purchase date 1 012031 ...

Page 216: ...id at maturity A discounted note is a note that is purchased below its face value The following equations find the price or yield of a discounted note The calendar basis is actual 360 Solver Equations for Discounted Notes To find the price given the discount rate To find the yield given the price or to find the price given the yield PRICE the purchase price per 100 face value YIELD the yield as an...

Page 217: ...04 discount rate 8 7 Assume month day year format Select the NOTE PRICE equation in the Solver Keys Display Description Creates menu 10 142003 Stores known values 3 172004 8 7 100 Calculates price e Displays NOTE YIELD equation then its menu Calculates yield Statistics Moving Average Moving averages are often useful in predicting trends in data taken over a period of time In moving average calcula...

Page 218: ...s that you have entered the equation MAVG into the Solver using VOL for the SUM list s name For instructions on entering Solver equations see Solving Your Own Equations on page 30 Example A Moving Average in Manufacturing Calculate a three month moving average for the number of units manufactured during the first half of the year Manufacturing volumes are January February March April May June 4400...

Page 219: ...or months 3 4 and 5 6 Calculates average for months 4 5 and 6 Chi Squared χ2 Statistics The χ2 statistic is a measure of the goodness of fit between data and an assumed distribution It is used to test whether a set of observed frequencies differs from a set of expected frequencies sufficiently to reject the hypothesis under which the expected frequencies were obtained The statistic can be assumed ...

Page 220: ...value for your data name1 the name of the SUM list that contains the observed values name2 the name of the SUM list that contains the expected values EXP the expected value when it is a constant When you create and name the SUM list s make sure the name s match name1 and name2 if applicable in the Solver equation To solve the equation press once or twice until you see the message The following exa...

Page 221: ...I Names the list OBS e use and if necessary Displays the CHI equation Make sure name1 is OBS Displays menu 20 Stores expected value Calculates χ2 The number of degrees of freedom is n 1 5 Consult statistical tables to find χ2 to a significance level of 0 05 with 5 degrees of freedom The table shows that 2 0 05 5 χ 11 07 Since the computed value 5 00 is less than 11 07 you can conclude that to a 0 ...

Page 222: ...elow before contacting us Past experience has shown that many of our customers have similar questions Answers to Common Questions Q I m not sure if the calculator is malfunctioning or if I m doing something incorrectly How can I determine if the calculator is operating properly A Refer to page 232 which describes the diagnostic self test Q My arithmetic keys don t work like I expect I press 12 3 a...

Page 223: ...ent mode mortgages and loans are typically End mode calculations and specify the number of payments per year Also check that all figures for money paid out are negative the cash flow sign convention Q Can I access the TVM menu functions from the Solver A No but you can do the same functions by copying the appropriate financial formulas into the Solver The formulas are given starting on page 168 Q ...

Page 224: ...lish A Models of the hp 17bII sold in many countries outside of the United States include a menu to select the language for messages and labels To select the English language press Power and Batteries The calculator is power by two 3 volt lithium coin batteries When changing batteries use only fresh button cell batteries Both batteries must be changed at the same time Do not use rechargeable batte...

Page 225: ...nformation about the language setting After selecting a language the display will show Pressing any key will clear this message from the display In either case the clock s time might be incorrect Installing Batteries Once the batteries are removed you must replace the batteries within 30 seconds to prevent loss of Continuous Memory To install batteries 1 Have two fresh CR2032 batteries at hand Hol...

Page 226: ...us chemicals 5 Remove and insert the other battery as step 4 Make sure that the positive sign on each battery is facing outward 6 Replace the battery compartment cover 7 Press on Now turn the calculator back on If it does not function you might have taken too long to change the batteries or inadvertently turned the calculator on while the batteries were out Remove the batteries again and lightly p...

Page 227: ...on that uses more memory than is currently available If you see this message 1 Complete any calculations in the calculator line press or C This frees the memory that was being used to store each of the numbers and operators 2 To further increase the amount of available memory Rename the named SUM and CFLO lists with shorter names see page 98 and clear any lists you no longer need see page 99 Short...

Page 228: ...isplays to confirm that reset has occurred The calculator can reset itself if it is dropped or if power is interrupted If the calculator still does not respond to keystrokes use a thin pointed object to press the reset hole near of the battery compartment Warning Never press the reset button twice within 1 second as this could result in a memory lost Reset hole Resetting the calculator halts the c...

Page 229: ... day year date format 12 hour clock 2 decimal places double space printing off printer tracing off printer without the ac adapter and beeper on For the other languages Day month year date format 24 hour clock 2 decimal places double space printing off printer tracing off printer without the ac adapter and beeper on Maintains the selected mode ALG or RPN Period or comma decimal point Erasing Contin...

Page 230: ...40 C 104 F maximum Determining If the Calculator Requires Service Use these guidelines to determine if the calculator requires service If it does read Service on page 235 If the calculator won t turn on 1 Attempt to reset the calculator see page 228 2 If the calculator fails to respond after step 1 replace the batteries see page 225 If you have just replaced the batteries see page 227 If these ste...

Page 231: ... Do the self test described below If the calculator fails the self test it requires service 2 If the calculator passes the self test it is quite likely you ve made a mistake in operating the calculator Try rereading portions of the manual and check Answers to Common Questions on page 222 3 Contact the Calculator Support department ...

Page 232: ... ready to halt the test 5 During the test the calculator beeps periodically and displays various patterns and characters Watch for one of two messages that are displayed before the test automatically repeats If the calculator passes the self test the calculator displays If the calculator displays followed by a five digit number the calculator requires service 6 To halt the self test hold down C wh...

Page 233: ... that the operation of HP products will be uninterrupted or error free If HP is unable within a reasonable time to repair or replace any product to a condition as warranted you will be entitled to a refund of the purchase price upon prompt return of the product 4 HP products may contain remanufactured parts equivalent to new in performance or may have been subject to incidental use 5 Warranty does...

Page 234: ... of incidental or consequential damages so the above limitation or exclusion may not apply to you 8 The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services Nothing herein should be construed as constituting an additional warranty HP shall not be liable for technical or editorial errors or omissions contained herein F...

Page 235: ...9782 Norway 47 63849309 Portugal 351 22 9570200 Spain 34 915 642095 Sweden 46 851992065 Switzerland 41 1 4395358 German 41 22 8278780 French 39 02 75419782 Italian Turkey 420 5 41422523 UK 44 207 4580161 Czech Republic 420 5 41422523 South Africa 27 11 2376200 Luxembourg 32 2 7126219 Other European countries 420 5 41422523 Asia Pacific Country Telephone numbers Australia 61 3 9841 5211 Singapore 6...

Page 236: ...egions Any modifications to the calculator not expressly approved by Hewlett Packard could void the authority to operate the 17bII in these regions USA This calculator generates uses and can radiate radio frequency energy and may interfere with radio and television reception The calculator complies with the limits for a Class B digital device pursuant to Part 15 of the FCC Rules These limits are d...

Page 237: ... indicates that this product must not be disposed of with your other household waste Instead it is your responsibility to dispose of your waste equipment by handing it over to a designated collection point for the recycling of waste electrical and electronic equipment The separate collection and recycling of your waste equipment at the time of disposal will help to conserve natural resources and e...

Page 238: ...one mathematical solution to the problem or there may be no solution In these cases the calculator displays a message to help you interpret what has happened Possible Outcomes of Calculating IRR These are the possible outcomes of an IRR calculation for which you have not stored a guess Case 1 The calculator displays a positive answer This is the only positive answer However one or more negative an...

Page 239: ...ime by pressing any key The calculator then displays the current estimate for IRR You can resume the calculation by Pressing s while the current estimate is displayed in the calculator line This continues the calculation from where it left off Storing a guess for IRR discussed below Storing a Guess for IRR To enter a guess key in an estimate of IRR and then press s You can enter a guess for IRR at...

Page 240: ... zero Solver Calculations As noted in chapter12 the Solver uses two methods to find solutions depending on the complexity of the equation direct and iterative an indirect To use all the calculating power included in the Solver it would help to understand in a general way how it works Direct Solutions When you start a calculation by pressing a menu key the Solver first tries to find a direct soluti...

Page 241: ...ly INV LN LNP1 LOG S SQ and SQRT The only operators involving the unknown variable are x and power If you are solving for a variable raised to a positive even power for example A 2 4 there may be more than one solution However if the Solver can isolate the variable it will find one of the solutions using the positive root For example the Solver rearranges A 2 4 to A 4 and calculates the answer 2 T...

Page 242: ...or LEFT RIGHT the Solver analyzes the results and produces two new estimates that it judges to be closer to the answer By repeating this process many times the Solver narrows in on the answer During this search the calculator displays the two current estimates and the sign of LEFT RIGHT for each estimate as shown Sign of LEFT RIGHT for each estimate Since calculators cannot do calculations with in...

Page 243: ...e Solver has found two estimates that cannot get any closer together Numbers that are as close together as possible are called neighbors Furthermore LEFT RIGHT is a positive value for one estimate and a negative value for the other estimate Case 1a is exactly 0 Case 1b is not exactly 0 and are relatively close together The two estim ates are neighbors If you want to know whether LEFT RIGHT is exac...

Page 244: ... of LEFT RIGHT for each estimate This information can be helpful Case 2a If the signs of LEFT RIGHT are opposite and the two estimates are as close together as two 12 digit numbers can get neighbors the Solver found two estimates that bracket an ideal solution a solution where LEFT RIGHT equals zero If LEFT and RIGHT are relatively close together the answer is probably a solution Case 2b If the si...

Page 245: ...tes are neighbors Case 2b have opposite signs The two estimates are far apart Case 2c have the same sign Case 3 The calculator displays The Solver is unable to begin its iterative search for a solution using the current initial estimates guesses You might find a solution by ...

Page 246: ...a solution by entering very good guesses Equations Used by Built in Menus Actuarial Functions n number of compounding periods i periodic interest rate expressed as a percentage Single Payment Present Value Function Present value of a single 1 00 payment made after n periods 1 100 n i SPPV i n Single Payment Future Value Function Future value after n periods of a single 1 00 payment 1 100 n i SPFV ...

Page 247: ...P P PRICE Time Value of Money TVM S payment mode factor 0 for End mode 1 for Begin mode I YR i P YR 0 PV 1 100 i S PMT USPV i n FV SPPV i n Amortization INT accumulated interest PRIN accumulated principal i periodic interest rate BAL is initially PV rounded to the current display setting PMT is initially PMT rounded to the current display setting 100 I YR i P YR For each payment amortized ...

Page 248: ...st Rate Conversions Periodic compounding 1 1 100 100 P NOM EFF P Continuous compounding 100 1 100 NOM EFF e Cash Flow Calculations j the group number of the cash flow CFj amount of the cash flow for group j nj TIMES the cash flow occurs for group j k the group number of the last group of cash flows 0 1 total number of cash flows prior to group j x j l l k j j j j N n NPV CF CF USPV i n x SPPV i N ...

Page 249: ...upon period bracketing settlement date By convention E is 180 or 360 if calendar basis is 30 360 DSC number of days from settlement date to next coupon date DSC E A M coupon periods per year 1 annual 2 semiannual N number of coupon periods between settlement and redemption dates If N has a fractional part settlement not on coupon date then round it to the next higher whole number Y annual yield as...

Page 250: ...oupon payments will also fall on the last day of the month For example a semiannual bond that matures on September 30 will have coupon payment dates on March 31 and September 30 If the maturity date of a semiannual bond falls on August 29 or 30 then the February coupon payment dates will fall on the last day of February 28 or 29 in leap years Depreciation Calculations For the given year YR 1 100 1...

Page 251: ... DB equals the remaining depreciable value for the prior year Sum and Statistics n number of items in the list x an element of the sorted list RANGE MAX MIN Forecasting Model Transformation Xi Yi LIN EXP LOG PWR y B Mx y BeMx y B M ln x y BxM y B Mx In y ln B Mx y B M ln x ln y ln B M ln x xi xi ln xi ln xi yi ln yi yi ln yi ...

Page 252: ...B b for LIN and LOG models and B eb for EXP and PWR models where b Y M X CORR 2 2 SXY SX SY Equations Used in Chapter 14 Canadian Mortgages 1 6 1 1 1 where 1 1 200 N N r PV PMT FV r r CI YR r N total number of monthly payments CI YR annual interest rate as a percent PV loan amount PMT monthly payment FV balloon payment ...

Page 253: ...balloon payment amount S 1 if DAYS 30 S 0 if DAYS 30 Advance Payments 1 1 1 N N ADV PV FV i PMT i ADV i where PMT payment amount PV loan amount FV balloon payment amount i periodic interest rate as a decimal N total number of payments ADV number of payments made in advance Modified Internal Rate of Return 1 100 1 n P N NFV MIRR NPV where n total number of compounding periods NFVP net future value ...

Page 254: ...yboard The menu labels for variables are enclosed in boxes to illustrate how they are used Variable used to store and calculate values Variable used to calculate or display values cannot be used to store values Variable used to store values cannot be used to calculate values CHG OLD NEW CH MU P BUS TOTL MU C COST PRICE M C TOTAL PART T COST PRICE M P Figure C 1 BUS Menu ...

Page 255: ...C Menu Maps 255 CURR1 C RCL CURRX CURR2 RATE C STO SELCT Currencies Figure C 2 CURRX Menu ...

Page 256: ...aps FIN TVM ICNV CFLO NOM EFF P NOM EFF CALC INSR DELET NAME GET NEW Names of Lists TOTAL IRR I NPV NUS NFV N I YR PV PMT FV OTHER P YR BEG END AMRT P INT PRIN BAL NEXT TABLE FIRST LAST INCR GO Figure C 3 FIN Menu ...

Page 257: ...C Menu Maps 257 FIN BOND DEPRC BASIS SALV LIFE ACRS MORE YR DB SOYD SL MORE TYPE SETT MAT MORE YLD PRICE 360 A A SEMI ANN Figure C 3 continued FIN Menu ...

Page 258: ...s TOTAL MEAN MEDN RANG MORE SORT FRCST MORE INSR DELET NAME GET ALPHA Edit menu ALPHA menu MIN MAX Select x and y MORE x list y list CORR M B MORE MODL W MN G SD SIZE LIN LOG EXP PWR MORE Figure C 4 SUM Menu For the complete menu see pages 30 31 ...

Page 259: ...C Menu Maps 259 TIME CALC APPT SET APT1 APT2 MORE TIME M D 12 24 HELP MIN A PM MSG RPT HELP A PM DATE1 DAYS 360D 365D Figure C 5 TIME Menu For the complete menu see pages 30 31 ...

Page 260: ...PHA menu CALC EDIT NEW SOLVE Figure C 6 SOLVE Menu FIX ALL DISP LOG MATH LN EXP N PI MODES BEEP PRNT DBL ALG RPN LIST PRINTER STK REGS TIME MSG TRACE INTL Figure C 7 DSP MATH MODES and PRINTER Menus For the complete menu see pages 30 31 ...

Page 261: ...he operators between the relevant numbers or variables Łukasiewicz s notation places them before the numbers or variables For optimal efficiency of the stack we have modified that notation to specify the operators after the numbers Hence the term Reverse Polish Notation or RPN Except for the RPN appendixes the examples and keystrokes in this manual are written entirely using Algebraic ALG mode Abo...

Page 262: ...ifies keystrokes that are shown in ALG mode and must be performed differently in RPN mode Appendixes D E and F explain how to use your calculator in RPN mode The mode affects only arithmetic calculations all other operations including the Solver work the same in RPN and ALG modes Setting RPN Mode The calculator operates in either RPN Reverse Polish Notation or ALG Algebraic mode This mode determin...

Page 263: ...Definition Key to Use ENTER Enters and separates one number from the next LASTX Recalls last number in X register L R Rolls down stack contents same as R Rolls up stack contents except in lists X Y X register exchanges with Y register x same as CHS Changes sign ...

Page 264: ...es those parts of chapter 2 that are affected by RPN mode These operations are affected by RPN mode Two number arithmetic u The percent function The LAST X function L See appendix E RPN mode does not affect the MATH menu recalling and storing numbers arithmetic done inside registers scientific notation numeric precision or the range of numbers available on the calculator all of which are covered i...

Page 265: ...parated by E before pressing the operator key The Power Function Exponentiation The power function uses the u keys To Calculate Press Display 123 12 E 3 u 121 3 cube root 12 E 3 t u The Percent Function The key calculates percentages without using the key Combined with or it adds or subtracts percentages To Calculate Press Display 27 of 200 200 E 27 200 less 27 200 E 27 12 greater than 25 25 E 12 ...

Page 266: ...ers and variables When doing arithmetic in the display with values from storage registers and variables remember to use RPN Compare these keystrokes in RPN and ALG modes RPN Mode ALG Mode Store 2 x 3 in register 5 2 E 3 s 5 2 3 s 5 Find PV 2 R 2 R 2 Find PV less 2 R 2 R 2 Find PMT x N R R R R Chain Calculations No Parentheses The speed and simplicity of calculating using RPN are apparent during ch...

Page 267: ... this intermediate result 15 before proceeding Since it is a calculated result it is saved automatically without using parentheses Keys Display Description 12 E 3 Intermediate result 7 Pressing the function key produces the answer Now study these examples Note the automatic storage and retrieval of intermediate results To Calculate Press Display 750 x 12 360 750 E 12 360 360 750 x 12 360 E 750 E 1...

Page 268: ...hout using parentheses The key to automatic storage is the automatic RPN memory stack The memory stack consists of up to four storage locations called registers which are stacked on top of each other It is a work area for calculations These registers labeled X Y Z and T store and manipulate four current numbers The oldest number is the one in the T top register T 0 00 Oldest number Z 0 00 Y 0 00 X...

Page 269: ...4 3 2 1 4 When you press the value in the X register rotates around into the T register Notice that the contents of the registers are rolled while the registers themselves maintain their positions The calculator displays only the X register Variable Stack Size Clearing the stack by pressing c reduces the stack to one register X with a zero in it As you enter numbers the stack builds up again The a...

Page 270: ... contents while calculating 3 4 9 a lost T a a a a Z b a b a Y 3 b 7 b X 3 E 4 4 7 9 9 2 Drop Lift Drop a and b represent values already on the stack Notice that when the stack drops it replicates the contents of the T register and overwrites the X register When the stack lifts it pushes the top contents out of the T register and that number is lost This shows that the stack s memory is limited to...

Page 271: ...fect is simply to separate two sequentially entered numbers Using a Number Twice in a Row You can use the replicating feature of E to other advantages To add a number to itself key in the number and press E Filling the Stack with a Constant The replicating effect of E together with the replicating effect from T into Z of stack drop allows you to fill the stack with a numeric constant for calculati...

Page 272: ...ts a zero in it The next number you key in or recall writes over this zero There are two ways to clear the number in the X register Press Press C For example if you wanted to enter 1 and 3 but mistakenly entered 1 and 2 these keystrokes would correct it 1 1 1 1 1 1 E 1 2 2 0 3 3 Clearing the Entire Stack Pressing c clears the X register to zero and eliminates the Y Z and T registers reducing the s...

Page 273: ...ter just before the last numeric operation such as a operation Pressing L returns this value to the X register This ability to recall the last x value has two main uses Correcting errors retrieving a number that was in the X register just before an incorrect calculation Reusing a number in a calculation Reusing Numbers You can use L to reuse a number such as a constant in a calculation Remember to...

Page 274: ...res of RPN include the following You never work with more than two numbers at a time E separates two numbers keyed in sequentially Pressing an operator key executes that operation immediately Intermediate results appear as they are calculated so you can check each step as you go Intermediate results are automatically stored They reappear automatically as they are needed for the calculation the las...

Page 275: ... 78 00 A Solution 14 E 12 18 E 12 9 E 7 Calculate 232 13 x 9 1 7 412 14 A Solution 23 w 13 E 9 7 t Calculate 3 5 4 0 8 12 5 0 7 0 60 A Solution 5 4 E 8 7 E 3 u 12 5 x v or 5 4 E 8 12 5 E 7 E 3 u v Calculate 8 33 4 5 2 8 33 7 46 0 32 4 57 4 3 3 15 2 75 1 71 2 01 A Solution 4 E 5 2 8 33 L 7 46 32 3 15 E 2 75 4 3 1 71 E 2 01 v ...

Page 276: ...lated on a 365 day basis How much interest will she owe you in 60 days and what is the total amount owed Keys Display Description 450 E 7 Annual interest 60 365 Actual interest for 60 days 450 Adds principal to get total debt Example APR for a Loan with Fees A borrower is charged two points for the issuance of a mortgage One point is equal to 1 of the mortgage amount If the mortgage amount is 60 0...

Page 277: ...ture value is zero Borrower s monthly payment R 2 Stores actual amount of money received by borrower into PV Calculates APR Example Loan from the Lender s Point of View A 1 000 000 10 year 12 annual interest interest only loan has an origination fee of 3 points What is the yield to the lender Assume that monthly payments of interest are made Before figuring the yield you must calculate the monthly...

Page 278: ... to lender Example Savings for College Your daughter will be going to college in 12 years and you are starting a fund for her education She will need 15 000 at the beginning of each year for four years The fund earns 9 annually compounded monthly You plan to make monthly deposits starting at the end of the current month How much should you deposit each month to meet her educational expenses See fi...

Page 279: ... Description 0 I Sets initial cash flow FLOW 0 to zero 0 I Stores zero in FLOW 1 and prompts for the number of times it occurs 12 E 12 1 I For E press not I Stores 143 for 11 years 11 months in TIMES 1 for FLOW 1 15000 I Stores amount of first withdrawal at end of 12th year I 0 I Stores cash flows of zero 11 I for the next 11 months 15000 II Stores second withdrawal for sophomore year ...

Page 280: ...cription 9 E 12 Figures the periodic monthly interest rate and stores it in I Amount of monthly deposit needed to meet planned withdrawals Calculates the net present value of the monthly deposits which is the same as the NPV of the four future withdrawals Example Tax Free Account Consider opening an IRA account with a dividend rate of 8 175 1 If you invest 2 000 at the beginning of each year for 3...

Page 281: ...tion 1 e Sets 1 payment per year and Begin mode 35 Stores number of payment periods until retirement 1 x 35 8 175 Stores dividend rate 0 Present value of account before first payment 2000 Annual payment deposit Calculates amount in account at retirement R R Calculates total amount paid into IRA by retirement R Calculates interest you will earn 15 Taxes at 15 of interest R Subtracts taxes from tota...

Page 282: ...d rate of 8 175 and a tax rate of 28 and that payments begin today What will be the purchasing power of that amount in today s dollars assuming 8 annual inflation Keys Display Description Displays TVM menu 1 e Sets 1 payment per year and Begin mode 35 Stores years until retirement 8 175 E 28 Calculates interest rate diminished by tax rate Stores interest rate 0 Stores no present value 3000 Stores ...

Page 283: ...receding math error messages with the word Press C or to erase the message and restore the previous display The Solver cannot begin a numerical search using the initial estimates See pages 180 and 239 To conserve battery power the calculator will not transmit data to the printer until fresh batteries have been installed Attempted to get another list without first clearing or naming the current lis...

Page 284: ...ith a negative or zero x or y value Attempted to raise a negative number to a non integer power An internal result in a calculation was too large for the calculator to handle Attempted to take the square root of a negative number or calculate G SD given any negative frequencies An internal result in a calculation was too small for the calculator to handle Attempted to raise zero to a negative powe...

Page 285: ...mpted to do curve fitting using the logarithmic or power models with a list for which the transformed values of x ln x are equal The calculator has insufficient memory available to do the operation you ve specified Refer to Managing Calculator Memory on page 227 for additional information One of the following values for interest is less than or equal to 100 TVM menu I YR P YR PER menu NOM P calcul...

Page 286: ...Names of Variables page 166 Attempted to store into a built in variable a number that is outside the range of values permitted for that variable The number entered cannot be interpreted as a proper time The appointment s repeat interval is out of range Attempted to enter a non integer negative number when specifying the number of displayed decimal places in DSP Attempted to calculate I YR with N 0...

Page 287: ...o page 238 Continuous Memory has been erased page 224 229 The list name you ve attempted to enter is already in use type in a new name and press I No solution is possible using the values stored in the current built in menu or list This most commonly results from an incorrect sign for a cash flow or other monetary value Review page 64 Attempted to calculate the factorial of a negative or non integ...

Page 288: ...t values stored in its variables Refer to page 246 in appendix B A warning not an error that the magnitude of a result is too small for the calculator to handle so it returns the value zero See page 47 for limits Attempted a two list SUM calculation using lists of unequal lengths ...

Page 289: ...2 Σ 139 171 176 77 220 35 35 78 92 95 96 97 127 49 50 49 51 51 132 139 132 139 132 139 132 139 132 139 144 144 143 42 150 150 alarm annunciator 147 menu formula 247 using 50 or 174 32 19 or 43 269 editing a list 98 in a list 96 162 with history stack 43 20 32 272 174 t 41 v 16 17 262 print annunciator 184 TIMES 96 97 A 56 115 115 ...

Page 290: ...ion calculations 77 81 equations 247 schedule 78 schedule printing 82 83 AMRT menu 78 AND operator 166 174 Annual percentage interest rate in TVM 63 with fees 193 with fees RPN 276 Annunciators 18 definition 18 printer 184 Antilogarithms 42 169 Appointment menus 142 145 messages 147 repeat interval 147 148 setting menu 146 Appointments acknowledging 147 clearing 148 messages 145 past due 146 print...

Page 291: ...mode 64 66 Beginning of list in CFLO list 98 in SUM list 124 Bond calculations 110 13 equations 249 fractional values for 111 price 111 type 109 110 yield 111 BOND menu 108 9 Bonds 215 16 Bottom of the current list in CFLO 95 of the Solver list 162 Braces in equations 167 Brackets in equations 167 Brightness of the display 17 Built in variables See Variables built in BUS menu 49 254 Business varia...

Page 292: ...9 Calendar basis 108 9 Call 110 112 Canadian mortgage 197 99 252 Capitalized value lease 74 75 Cash flow calculations 91 107 equations 248 list See CFLO list Cash flow diagrams in cash flow calculations 92 94 in TVM calculations 64 66 Cash flows equal See Cash flows grouped grouped 94 104 initial 94 95 maximum number of 91 sum of 101 ungrouped 93 zero 94 95 CDATE 169 CFLO list CALC menu 101 cleari...

Page 293: ...nus 28 MU C variables 50 MU P variables 50 numbers in RPN 272 Solver variables 163 SUM lists 123 the history stack 44 the RPN stack 269 272 TIME CALC variables 150 TVM variables 64 variables 28 29 Clock See Time Commas in numbers 35 Compound interest calculations 61 Compounding annual 71 monthly 67 68 74 75 periods 61 62 63 64 periods vs payment periods 87 90 200 rates 84 semimonthly 72 Conditiona...

Page 294: ...g 59 currency 1 55 currency 2 55 Current equation 156 deleting 162 64 printing 187 CURRX menu 55 255 Cursor 19 movement keys 32 Curve fitting 121 132 34 calculations 134 37 equations 251 Customer Support 222 D in CFLO menu 92 in Solver menu 157 164 in SUM menu 122 127 115 32 150 150 150 in appointment setting menu 145 in SET menu 143 56 185 18 D 34 35 Date in the past or future 151 setting 143 44 ...

Page 295: ... year 118 19 straight line 114 116 sum of the years digits 114 116 Diagnostic self test 232 Diagrams cash flow 64 66 92 94 Digit separator 35 Direct solutions in Solver 179 240 41 Discount rate 101 Display clearing 20 contrast 17 format 34 in RPN 268 73 messages 36 organization 19 43 printing the contents of 185 turning on and off 17 Displayed messages 283 Displaying the contents of registers 43 4...

Page 296: ...quation Solver 153 83 240 46 clearing 163 introduction 29 Equations algebraic rules 164 characters in 166 67 clearing 163 deleting 162 64 displaying 162 editing 161 entering 157 erasing 163 for built in menus 246 53 invalid 158 length of 153 long viewing 166 naming 161 verifying 157 58 writing 164 Erasing See also Clearing Deleting Erasing calculator memory 225 229 Error messages 36 283 Estimates ...

Page 297: ...equation 246 Solver function 171 G 82 132 in CFLO 99 in SUM 127 G 169 General business calculations 49 53 equations 247 Grouped standard deviation 138 39 Guesses entering in the Solver 181 83 IRR entering 238 40 Solver 245 H in the appointment setting menu 145 in the SET menu 143 56 Halting a numerical search 180 Hierarchy of menus 24 Hierarchy of operations in equations 165 History stack 43 See a...

Page 298: ...ization calculations 78 Interest compound 61 84 equation 248 on loan amount of PMT applied toward 80 81 simple 61 Interest rate conversions 84 90 201 248 effective and nominal 84 Intermediate results RPN 268 274 Internal rate of return See also IRR calculations 91 97 100 101 Interrupting an IRR calculation 239 Interrupting the Solver 180 INV 170 Invalid equation 158 Inverse 265 Investments calcula...

Page 299: ... 242 46 Letter keys 30 Linear estimation 121 132 34 Linear model 130 133 Linear regression 121 List See CFLO list SUM list Solver list List RPN 264 rolling the stack 269 LN 170 LNP1 170 Loan amortizing 77 83 APR for with fees 193 LOG 170 Logarithmic model 130 132 133 Logarithms 42 170 Logical operators 174 Low memory 227 Low power 224 and printing 184 annunciator 184 M 132 109 49 53 52 128 128 128...

Page 300: ...s of 161 printing values stored in 186 88 sharing variables 53 Messages for appointments 147 Messages error 283 MIN Solver 170 MOD 170 Mode of payments Begin and End 64 Models curve fitting 132 133 Modes 36 261 62 265 36 261 262 185 beeper 36 double space printing 36 185 menu map 260 printer ac adapter 36 Modified IRR 209 12 253 Month day year format 143 44 Mortgage 68 69 See also Loan calculation...

Page 301: ...sent value 91 101 Net uniform series 91 101 NFV calculating 91 101 equation 249 Noise Declaration 237 Nominal interest rate 84 87 100 Non integer period 172 NOT 174 Notes discounted 216 17 NPV calculating 100 101 equation 100 248 Number lists See CFLO list SUM list Solver list of days between dates 149 51 of decimal points 47 of payments in TVM 62 range 48 Numbers See also Value entering RPN 264 2...

Page 302: ...51 Past due appointments acknowledging 148 definition 146 Payment mode 62 changing 62 definition 65 66 resetting 62 Payment periods 62 compounding 61 64 in cash flow calculations 93 vs compounding periods 87 90 200 Payments amortization 77 81 lease 74 77 number per year in TVM 63 TVM 62 Percent 40 change 49 51 key for simple interest 40 61 of cost 49 52 of total 49 51 Percentage calculations 49 53...

Page 303: ...ng 28 PRICE as a shared variable 53 Price markup on 49 52 Principal of loan amount of PMT applied toward 80 81 Printer power for 185 using 184 PRINTER menu 186 260 Printer port 184 Printing amortization table 82 83 appointments 188 display 185 double space 36 185 equations 187 history stack 186 interrupting 189 messages 188 number lists 187 slow 184 Solver list 187 speed 185 statistical values 186...

Page 304: ...tents of 186 Relational operators 174 Remaining depreciable value 115 116 Renaming lists See CFLO list SUM list the Solver list Repeating appointments past due 148 setting 147 Replacing batteries 225 26 Required rate of return 101 Resetting the calculator 228 Reusing a number RPN 271 273 calculator memory 37 229 Reverse Polish Notation 261 RND 170 Rounding a PMT 71 Rounding numbers 35 RPN See appe...

Page 305: ...s in cash flow calculations 92 in TVM calculations 64 Simple interest 40 with annual rate 190 with annual rate RPN 276 Slope in curve fitting 132 134 Small numbers keying in and displaying 47 Smallest number available 47 in a list 128 SOLVE menu 260 Solver 153 83 See also Equations Solver calculations 155 158 59 creating custom menus 153 54 how it works 179 83 multiple solutions in 179 technical d...

Page 306: ...ontents 270 271 size 269 Standard deviation 128 30 calculating 128 30 grouped 138 39 Starting value in summation function 176 Statistical calculations 127 40 Statistical equations 250 52 Statistical variables 128 130 34 Statistics x and y 130 34 Step size in summation function 176 Storage registers 45 46 arithmetic in RPN 46 printing the contents of 186 Storing numbers 44 45 46 in built in variabl...

Page 307: ...ent setting menu 145 in PRINTER menu 186 in SET menu 143 78 51 of a SUM list 122 128 109 150 186 sum of cash flows 101 Text printing MSG 186 Time accuracy 230 and date printing 186 changing 143 44 format 144 145 46 of day viewing 141 setting 143 44 TIME menus 141 42 Time value of money calculations 61 83 equations 247 Top of the equation list in the Solver 162 Total percent of 51 Trace printing 18...

Page 308: ...ring 28 45 46 transferring between menus 28 Variable dependent 134 independent 134 Variables statistical 130 34 Variables built in 27 printing 187 statistical 128 Variables Solver 154 clearing 163 deleting 163 names of 166 shared 162 Variables shared 53 Verifying equations 157 58 Viewing lists See CFLO list SUM list Solver list W 132 56 Warranty 233 34 Weighted mean 132 138 39 X v 41 x 43 in RPN 2...

Page 309: ...Index 309 of lease 74 75 to call bonds 108 to maturity bond 108 y intercept in curve fitting 132 134 y values in forecasting 133 34 Z Zero coupon bond 113 ...

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