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HP 17bII User's Manual

1. m Calculate the rate from a known equivalency see the example Calculating an Exchange Rate page 57 Calculating an exchange rate is usually the easier way to enter a correct rate since the order in which you selected the two currencies doesn t mater E Store the exchange rate by keying in the value and pressing RATE see Storing an Exchange Rate on page 58 4 Currency Exchange Calculation 55 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 4 2 Currencies US EURE CAH UKE United States Austria Greece Canada United Kingdom of America Belgium Ireland Italy Dollars Pounds Dollars Germany Luxembourg Spain Netherlands Finland Portugal France Vatican City EURO SF HIS D ER H ER 5 KR Switzerland Israeli Denmark Norway Sweden Francs New Shekel Kroner Kroner Kronor R A B C IHTI Russia Argentina Vanuatu Brazil Peru Rouble Bolivar South Africa Band Saudi Arabia Riyals PESO HE HT RME HOH Bolivia Chile Hong Kong Taiwan China South Korea Colombia Dollars New Dollars Yuan Won Mexico Renminbi Philippines Uruguay Pesos YEH AS M Hz RF Japan Australia Malaysia New Zealand Indonesia Yen Dollars Ringgits Dollars Rupiahs S BAHT IH RS PERS CURR 1 CURR Singapore Thailand India Pakistani Miscellaneous Dollars Baht Rupee Rupees Use for currencies not shown in table 56 4 Currency Exchange Calculatio
2. 3 Press the appropriate menu key to change the language Table 1 1 Keys for language Key Description DEUT German ENGL English ESPR Spanish FRAH French ITAL Italian PORT 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 results of calculations Annunciators The symbols shown here are called annunciators Each one has a special significance 18 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 Shift ll is Sending information Alarm going off active to the printer or past due Batteries low page 19 page 184 page 147 ipods 224 bS bs J Annunciators Ca 4 Calculator line 125 A Cursor FIN EUS SUM TIME SOLVE CURR Menu labels for the MAIN menu To display the MAIN menu press m MAIN that is first f then EXIT The Shift Key as Some keys have a second shifted function printed in color above the key The colored shift key accesses these operations For example pressing and releasing f then pressing turns the calculator off This is written fgg OFF Pressing fj turns on the shift annunciator This symbol stays on until you press the nex
3. File name English M02 1 040308 Print doc Print data 2004 3 9 Important Information m Take the time to read chapter 1 It gives you an overview of how the calculator works and introduces terms and concepts that are used throughout the manual After reading chapter 1 you ll be ready to start using all of the calculator s features E You can choose either ALG Algebraic or RPN Reverse Polish Notation mode for your calculations Throughout the manual the VY in the margin indicates that the examples or keystrokes must be performed differently in RPN Appendixes D E and F explain how to use your calculator in RPN mode E 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 m Before doing any time value of money or cash flow problems refer to pages 64 and 92 to learn how the calculator uses positive and negative numbers in financial calculations E For a deeper treatment of specific types of calculations refer to chapter 14 Additional Examples If you especially like learning by example this is a good reference spot for you 16 Important Information File name English M02 1 040308 Print doc Print data 2004 3 9 Getting Started Watch for this symbol in the margin It ident
4. INSUFFICIENT MEMORY 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 m TVM menu I YR P YR m PER menu NOM P calculating EFF EFF calculating NOM m CONT menu EFF m CFLO menu I calculating NPV NUS or NFV or estimate of IRR INTERRUPTED Calculation of I YR IRR amortization results a Solver variable or a SUMList sort was interrupted IMVALIO DATE Error Messages 285 File name English M02 1 040308 Print doc Print data 2004 3 9 m The number entered cannot be interpreted as a proper date Check its format page 143 E Attempted to set a date outside the range 1 1 2000 through 12 31 2099 or attempted date arithmetic outside the range 10 15 1582 through 12 31 9999 IHVALTO EQUATION m The Solver cannot interpret the equation due to a syntax error Refer to What Can Appear in an Equation page 166 m A variable s name is invalid Refer to Names of Variables page 166 IHYALID THPUT E Attempted to store into a built in variable a number that is outside the range of values permitted for that variable E The number entered cannot be interpreted as a proper time The appointment s repeat interval is out of range m Attempted to enter a non integer negative number when specify
5. The maximum TIMES for each cash flow is 999 96 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 The TIMES prompting is usually on because it is automatically turned on whenever you clear or get a cash flow list Example Entering Cash Flows Enter the following ungrouped cash flows in a list and find the percentage internal rate of return IRR O 1 Keys FIN cCFLO fw CLR DATA YES 7 500 125 INPUT 275 INPUT 200 INPUT CALC IRR 500 2 275 125 3 200 Display CLEAR THE LIST FLOW CB 3 7 TIMES PROMPTING OFF FLOW i357 506 66 FLOW C23 7 i25 68 FLOW S3 7 273 868 FLOW 49 7 268 868 HP HUS HFM HEED Ix IRFa 9 66 Viewing and Correcting the List To display a particular list use GET 7 Cash Flow Calculations Description Asks for confirmation Clears data from list and prompts for initial flow Sets prompting off be cause it is not needed Enters initial flow then immediately prompts for next flow Enters FLOW 1 prompts for next flow Enters FLOW 2 prompts for next flow Enters FLOW 3 prompts for next flow Ends list and displays CALC menu Calculates IRR see page 99 97 File name English M02 1 040308 Print doc Print data 2004 3 9 The 4 and keys move up and down one number at a time m A and ag display the beginning and end of the list Changing or
6. m A logarithmic forecasting model with a negative or zero x value E An exponential model with a negative or zero y value m A power model with a negative or zero x or y value ERROR HEG NOWINTEGER Attempted to raise a negative number to a non integer power ERROR OVERFLOW An internal result in a calculation was too large for the calculator to handle ERROR SQRTCNEG Attempted to take the square root of a negative number or calculate G SD given any negative frequencies ERROR UNDERFLOW An internal result in a calculation was too small for the calculator to handle ERROR HEG Attempted to raise zero to a negative power ERROR 6 Attempted to divide zero by zero ERROR 8 68 Attempted to raise zero to the zero power ERROR 6 Attempted to divide by zero IMPUTS CAUSED 6 284 Error Messages File name English M02 1 040308 Print doc Print data 2004 3 9 The numbers stored into built in variables caused a division by zero in the calculation You must change one or more stored values Refer to the equations in appendix B to see which variables appear in the divisor INSUFFICTEWHT DATA E Attempted to calculate standard deviation with only one value in the list m Attempted to do curve fitting using an x variable list in which all the values are equal m Attempted to do curve fitting using the logarithmic or power models with a list for which the transformed values of x In x are equal
7. 149 51 of decimal points 47 of payments in TVM 62 range 48 Numbers See also Value entering RPN 264 271 with exponents 47 Numerical solutions 179 81 NUS 100 249 O oo 50 ml OFF 17 CONJ 17 Odd period calculations 172 73 195 253 Operators in equations 164 67 in RPN 266 268 274 Index 301 Print data 2004 3 9 Option to buy for a lease 74 75 OR 174 Order of calculation in the Solver 165 OTHER menu 146 47 Overdue appointments See Past due appointment Overview 3 P PESO 56 63 PRIN 78 PHT 63 PYRE 62 P 78 82 85 PRICE 52 109 PART 51 PUR 121 132 FK RS 56 PI 42 PORT 18 fa FRNTER 186 PRT 186 Parentheses in arithmetic calculations 39 40 in equations 165 167 in RPN 266 268 274 Partial period See also Odd period payments 62 302 Index File name English M02 1 040308 Print doc Past dates calculating 151 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 in RPN 265 Periodic compounding calculating interest rates for
8. 2004 3 9 PRICE y Nee Ge M CPN N M A N gt DSC 4 x M Kal AEE Ce M The end of month convention is used to determine coupon dates in the following exceptional situations This affects calculations for YLD PRICE and ACCRU m If the maturity date falls on the last day of the month then the coupon 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 m f 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 ACRS ACRS BASIS 100 ge Baa UFE SOYD A eae x LFE YR 1 pes E EN pg BASIS x FACT 100 _ FACT 100 UFE LIFE 250 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 For the last year of depreciation 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 TOTAL Sx MEAN x x MEDIAN x for odd n where j n 1 MEDIAN eke for even n where j stoEV 2 XP n 1l W MN Za G SD i RANGE MAX MIN Forecasting M ee y B Mx In y In B Mx y B MInx Iny InB MInx B More About Calc
9. 2004 3 9 Next successive set of payments authorized P 12 PHTS 13 24 P INT PRIN BAL NEAT THELE b To calculate a subsequent schedule with a different number of payments key in that number and press F c To start over from payment 1 using the same loan information press f CLR DATA and proceed from step 7 Example Displaying an Amortization Schedule 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 312 years Keys Display Description FIN TUM Displays TVM menu 12 5 IkYR TavR i2 56 Stores annual interest rate 65000 PY P 65 888 86 Stores loan amount 693 72 Stores monthly PHT PMT 693 72 payment OTHER If needed sets 12 CLR DATA i2PeYR ENO MODE payment periods per year End mode AMRT KEY PMTS PRESS Displays AMRT menu LHP 80 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 12 F IHT PRIH BAL HEST IHT PRIH BAL P i2PMTS i i2 INTEREST 8 113 16 PRIMCIPAL 211 45 BALAHCE 64 728 52 P i2PMTS i3 24 IHTEREST 8 685 15 FRIHCIFAL 239 49 BALAHCE 64 349 03 Calculates amortization schedule for first 12 payments but does not display it Dis
10. 2004 3 9 Warranty hp 17bll Financial Calculator Warranty period 12 months 1 HP warrants to you the end user customer that HP hardware accessories and supplies will be free from defects in materials and workmanship after the date of purchase for the period specified above If HP receives notice of such defects during the warranty period HP will at its option either repair or replace products which prove to be defective Replacement products may be either new or like new HP warrants to you that HP software will not fail to execute its programming instructions after the date of purchase for the period specified above due to defects in material and workmanship when properly installed and used If HP receives notice of such defects during the warranty period HP will replace software media which does not execute its programming instructions due to such defects HP does not warrant 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 HP products may contain remanufactured parts equivalent to new in performance or may have been subject to incidental use Warranty does not apply to defects resulting from a improper or inadequate maintenance or calibration b software interfacing parts or supplies not supplied
11. 750 x 12 BG 360 B or 750 J 12 360 38 2 Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 In the second case the key acts like the E key by displaying the result of 750 x 12 Here s a longer chain calculation 456 75 68 18 5 1 9 This calculation can be written as 456 75 18 5 x 68 1 9 Watch what happens in the display as you key it in Keys Display 456 E75 381 06 18 5 20 59 68 E 1466 434 1 9 amp Tar 6r V Using Parentheses 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 85 12 If you were to key in 30 85 2 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 x 9 Keys Display Description 30 FCO 856 38 88 685 88 No calculation is done 12 36 66 73 668 Calculates 85 12 9 B 4ix9 Calculates 30 73 3 78 Calculates 0 41x 9 2 Arithmetic 39 File name English M02 1 040308 Print doc Print data 2004 3 9 a Note that you must include a x for multiplication parentheses do not imply multiplication V The Percent Key The 2 key has two functions Finding a Percentage In most cases divides a number by 100 The one exception is when a plus or minus
12. 85 86 Periodic interest rate 101 Periodic rate of return 100 Periods 35 See also Payment periods in numbers in numbers 35 Print data 2004 3 9 PI 42 170 PMT See also Payments in TVM 63 rounded amortization calculations 78 Positive numbers in cash flow calculations 92 94 in TVM 64 Power See also Low power Batteries function 41 265 raising a number to 41 Power curve 130 132 133 Power on and of 17 Precision of numbers internal 34 Present value definition 63 of a lease 74 77 of a series of payments 171 246 of a single payment 171 246 Previous menu displaying 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 File name English M02 1 040308 Print doc 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 time and date 186 variables 187 with tracings 188 Prompting for TIMES 96 Purchase date bond 109 Purchase price in mortgage calculation 68 69 PV rounded in amortization calculations 78 Q Questions common 222 24 RANG 128 RPT 145 RATE 55 RME 56 Index 303 Print data 2004 3 9 RF 56 RFH 36 RECS 186 R 56 ll BND
13. Once you ve entered the cash flows into a list you can calculate E The total amount of the cash flows m The internal rate of return IRR Em The net present value NPV net uniform series NUS and net future value NFV for a specified periodic interest rate 1 You can store many separate lists of cash flows The maximum number depends on the amount of available calculator memory The CFLO menu FIN BUS SUM TIME SOLVE CURRX TVM ICNY CFO BOND DEPRC CALC INSR DELET NAME GET 1 TOTAL IRR 1 NPY NUS NFV The CFLO menu creates cashflow lists and performs calculations with a list of cash flows You can also use CFLO with cash flows of equal amounts but these are usually handled more easily by the TVM menu 7 Cash Flow Calculations 91 File name English M02 1 040308 Print doc Print data 2004 3 9 Menu Label Table 7 1 CFLO Menu Labels CALC INSR DELET MAME GET 7 Accesses the CALC menu to calculate TOTAL IRR NPV NUS NFV Allows you to insert cash flows into a list Deletes cash flows from a list Allows you to name a list Allows you to switch from one list to another or create a new list Turns the prompting for TIMES on and off To see the calculator line when this menu is in the display press once This does not affect number entry To see this menu when the calculator line is in the display press EXIT Cash Flow Diagrams and Signs of Numbers
14. available 47 in a list 128 Large numbers keying in and displaying 47 Last result copying 44 LAST X register RPN 273 leasing 74 77 199 200 LEFT RIGHT interpreting 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 File name English M02 1 040308 Print doc 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 M 132 MAT 109 ME 49 53 MXP 52 128 MED 128 MIN 128 MAX 128 MODL 132 MSG in appointment setting menu 145 in printer men 186 Mo 143 Mt 56 MORE key 25 a MAN 22 26 MEM 37 Index 299 Print data 2004 3 9 MAIN menu 19 MOD 170 Manual organization of 16 Mode of payments Begin and Markup End 64 on cost 49 52 Models curve fitting 132 133 on price 49 52 Modes Math in equations 165 167 RFH 36 261 62 265 MATH menu 42 260 ALG 36 261 262 M beeper 36 ean 251 double space printing 36 calculating 128 30 185 weighted 138 39 menu map 260 Median 251 printer ac adapter 36 calculating 128 30 Modified IRR 209 12 253 Memory See also Continuous Month day year format Memory 143 44 freeing 227 Mortgage
15. match name and name2 if applicable in the Solver equation To solve the equation press CHIZ once or twice until you see the message CALCULATIHG The following example assumes that you have entered the CHI equation into the Solver using OBS for name For instructions on entering Solver equations see Solving Your Own Equations on page 30 Example Expected Throws of a Die To determine whether a suspect die is biased you toss it 120 times and observe the following results The expected frequency is the same for each number 120 6 or 20 220 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 Frequency Observed Keystroke 5 lw CLR DATA YES or CET NEW 25 INPUT 17 INPUT 15 INPUT 23 INPUT 24 INPUT 16 INPUT HEME OBS SOLVE use 4 and Y if necessary CALC 20 EXP CHI L Number 2 Display ITEMC i 26 68 ITEMS EXP 268 468 CHI 5 68 Description Displays SUM menu and current list Clears current list or gets a new one Enters observed values Names the list OBS Displays the CHI equation Make sure namel is OBS Displays menu Stores expected value Calculates y The number of degrees of freedom is n 1 5 Consult statistical tables to find x to a significance level of 0 05 with 5 degrees of freedom The table shows that Zoss 11 07 Since the c
16. 21 22 22 23 25 27 28 28 29 30 31 32 34 34 34 34 35 35 4 Contents File name English M02 1 List of Examples Important Information Getting Started Power On and Off Continuous Memory Adjusting the Display Contrast Setting the Language What You See in the Display The Shift Key Backspacing and Clearing Doing Arithmetic Keying in Negative Numbers t2 Using the Menu Keys The MAIN Menu Choosing Menus and Reading Menu Maps Calculations Using Menus Exiting Menus EXIT Clearing Values in Menus Solving Your Own Equations SOLVE Typing Words and Characters the ALPHAbetic Menu Editing ALPHAbetic Text Calculating the Answer CALC Controlling the Display Format Decimal Places Internal Precision Temporarily SHOWing ALL Rounding a Number Exchanging Periods and Commas in Numbers 040308 Print doc Print data 2004 3 9 36 36 37 38 40 40 40 41 43 43 44 45 46 47 48 50 50 50 51 52 53 54 55 57 Error Messages Modes Calculator Memory f MEM Arithmetic The Calculator Line Doing Calculations Using Parentheses in Calculations The Percent Key The Mathematical Functions The Power Function Exponentiation The MATH Menu Saving and Reusing Numbers The History Stack of Numbers Reusing the Last Result LAST Storing and Recalling Numbers Doing Arithmetic Inside Registers and Variables Scientific Notation Range of Numbers Percentage Calculations in Busines
17. 61 3 9841 5211 61 3 9841 5211 Telephone numbers Argentina Brazil A Assistance Batteries Memory and Service 235 0 810 555 5520 Sao Paulo 3747 7799 ROTC 0 800 157751 File name English M02 1 040308 Print doc Print data 2004 3 9 Mexico Mx City 5258 9922 ROTC 01 800 472 6684 Venezuela 0800 4746 8368 Chile 800 360999 Columbia 9 800 114726 Peru 0 800 10111 Central America amp Caribbean 1 800 711 2884 Guatemala 1 800 999 5105 Puerto Rico 1 877 232 0589 l Costa Rica 0 800 01 1 0524 l N America Country Telephone numbers l U S 1800 HP INVENT Canada 905 206 4663 or 800 HP INVENT ROTC Rest of the country Please logon to http www hp com for the latest service and support 236 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data 2004 3 9 Regulatory information This section contains information that shows how the hp 17bll Financial calculator complies with regulations in certain regions Any modifications to the calculator not expressly approved by Hewlett Packard could void the authority to operate the 17bll 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 designed to provide reasonable protection against
18. ACRS ACRS 3 758 66 Deduction in first year 118 9 Depreciation File name English M02 1 040308 Print doc Print data 2004 3 9 25 ACRS ACRS 25 66 Tabular value year 2 ACRS ACRS 6 256 06 Deduction in second year 20 RERSH ACRSX 26 66 Tabular value year 3 RERS ACRS 5 666 66 Deduction in third year Partial Year Depreciation When the acquisition date of an asset does not coincide with the start of the tax or fiscal year then the amounts of depreciation in the first and last years are computed as fractions of a full year s depreciation Except in SL the intermediate years are computed as sums of fractions This does not apply to the ACRS method Suppose you acquired an asset in October and wanted to depreciate it for 3 years Your fiscal year begins January Ist The depreciation schedule would affect parts of 4 years as shown in the illustration The 3 months from October to December equal 1 4 year Number of months 3 9 core a 2 Calendar years 3 Depreciation years 2 3 k 3 year life gt For SL depreciation partial year calculations are easy calculate the SL value then use 1 4 of that value for the first year the full amount the second and third years and of that amount the fourth year For DB and SOYD depreciation each year s depreciation value is different as shown in the table 9 Depreciation 119 File name English M02 1 040308 Print
19. ASSETx ERH Interest debt x percentage interest paid on debt DEBTx IWT Common equity amount of common equity used for financing EQTy The Solver equation would be ROE ASSETx lt ERH i86 DEBTx 1INT iS6 TARITEOTYxi B 12 The Equation Solver 159 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys few MAIN SOLVE NEH ROE LO ASSET ERN DEBT INT TAX EQTY 69 0 e INPUT CALC 2000 ASSET 10 ERH 1500 DEBT 8 XINT MORE O TAX 500 EQTY MORE ROE Display TYPE EQUATION CiINMPUTI w DEBT 4 1HT TAAS EQTY ROE ASSETx lt ERH DEBT m ASSET 2 868 668 SERH i8 66 DEBT 1 586 668 SIHT 8 868 TAS 6 B6 EQTY 388 68 ROE i6 88 160 12 The Equation Solver Description Restores MAIN menu Displays ALPHA menu Entering the equation Stores the equation Verifies the equation and displays the menu labels for ROE ASSET ERN DEBT INT and press MORE TAX and EQTY 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 File name English M02 1 040308 Print doc Print data 2004 3 9 Editing an Equation EDIT If you have an INVALID EQUATION the cursor stops over the first character that the Solver could not logically interpret You can alter the current equation using the ALPHA E
20. Service 235 36 SET menu 143 Setting a language 18 37 Setting an appointments 146 47 Settings default start up 229 Settlement date 109 SGN 170 Shared variables in BUS 53 in equations 162 in ICNV 86 Shift 19 Sign of numbers 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 discussion of 240 46 using 153 68 Solver estimates seeing curren 240 46 Solver functions 168 71 Solver list clearing 162 64 current equation 156 definition 153 deleting equations 157 162 64 deleting variables from 162 64 editing an equation 157 empty 156 entering equations 157 58 printing 187 Index 305 File name English M02 1 040308 Print doc Print data 2004 3 9 Solver menu 156 57 for multiple equations 178 Solver solutions types of 243 46 Solver variables See Variables Solver Sorting numbers 128 Spaces in equations 166 Specifying the number of decimal places 34 SPFV 171 246 SPPV 171 246 SQ 171 SQRT 171 Square root calculating 41 265 Solver 171 Square Solver 171 Squaring a number 41 265 Stack See Hist
21. TIMES YR 5 MOMs HOMA 3 88 EFF EFFx 5 13 12 ie P i2 66 MO HOMX 5 6i TM 5 84 STO IxvR ISYR 3 61 OTHER 12 PR Description Periodic interest rate conversion menu Stores bank s compounding periods Stores bank s nominal interest rate Calculates effective interest rate for daily compounding Stores number of deposits per year Calculates equivalent nominal interest rate for monthly compounding Switches to TVM menu NOM value is still in calculator line Stores adjusted nominal interest rate in I YR Sets 12 payments per BEG i2 FYR BEGIN MODE year Begin mode 6 Interest Rate Conversions 89 File name English M02 1 040308 Print doc Print data 2004 3 9 7m ON Stores 84 deposit periods 2564 PMT 25 per deposit and no QO PM PY 6 68 money before the first regular deposit Fi Fus2s51i3 61 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 90 6 Interest Rate Conversions File name English M02 1 040308 Print doc Print data 2004 3 9 7 Cash Flow Calculations The cash flow CFLO menu stores and analyzes cash flows money received or paid out of unequal ungrouped amounts that occur at regular intervals
22. When a menu has more than six labels the label MORE 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 example The example calculates the percent markup on cost of a crate of oranges that a grocer buys for 4 10 and sells for 4 60 Step 1 Decide which menu you want to use The MU C markup as a percent of cost menu is our destination If it s not obvious to you which menu you need look up the topic in the subject 1 Getting Started 25 File name English M02 1 040308 Print doc Print data 2004 3 9 index and examine the menu maps in appendix C Displaying the MU C menu Step 2 To display the MAIN menu press f MAIN This step lets you start from a known location on the menu map Step 3 Press BUS to display the BUS menu Step 4 Press MUKC to display the MU C menu Using the MU C menu Step 5 Key in the cost and press COST to store 4 10 as the COST COST 4 18 COST PRICE Met Step 6 Key in the price and press PRICE to store 4 60 as the PRICE Step 7 Press MC to calculate the markup as a percent of cost The answer MARKUPXC i2 26 MARKUPAC 12 28 COST PRICE Mit Step 8 To leave the MU C menu press twice once to get back to the BUS menu and again to get to the MAIN menu or MAIN to go directly to the MAIN menu 26 1 Getting Started File name English M02 1 0
23. doc Print data 2004 3 9 Calendar Year Depreciation Value 1 Oct Dec V4 x year 1 3 4 x year 1 4 x year 2 3 3 4 x year 2 4 x year 3 A Jan Sept x year 3 Example Partial Year Depreciation A movie camera bought for 12 000 has a useful life of 10 years with a salvage value of 500 Using the sum ofthe years digits method find the amount of depreciation for the fourth year Assume the first depreciation year was 11 months long Keys Display Description FIN DEPRC Displays DEPRC menu 12000 BASIS Stores known values 500 SALW 10 LIFE MORE 3 YR TR 3 86 soro SOYO 1i 672 72 Calculates depreciation for year 3 fi 126 149 33 Stores 1 month s depreciation from year 3 4 YR sovo SOYD i 463 64 Calculates depreciation for year 4 Ve 116126 1 341 67 Figures 11 months depreciation from year 4 Jf ERa 1 6B 1 451 66 Figures total depreciation for year 4 120 9 Depreciation File name English M02 1 040308 Print doc Print data 2004 3 9 10 Running Total and Statistics The SUM menu stores and statistically analyzes sets of numbers As you enter the numbers the calculator displays their running total Once you ve entered the numbers into a list you can m Calculate the mean median standard deviation and range m Display the largest and smallest number in the list E Sort the list from smallest number to largest number With two lists of numbers you can m Do
24. expr expr Conditional expression if cond is true use expr if cond is false use expr See page 174 INT x Greatest integer less than or equal to x INV x Inverse of x 1 x IP x Integer part of x ITEM SUM listname item Value of the specified SUM ist item L x expr Store the value of expr in the variable x The variable will not appear 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 H N x PV 1 14i N 14 1 43 x PMT FV It can be written LEMP iti 38 LOHPH GOHPo HoxPY 1 GCHPH do Ci GOMP 2s oxPMT FY LN x Natural base e log of x LNP 1 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 of the two MOD x y Remainder of the division x y MOD x y x y x INT x y PI T 3 14159265359 12 digits RND x y Rounds x to y decimal places ifO lt y lt 11 or rounds x to y significant digits if 12 lt y lt 1 y must be an integer S variable name Used in an IF function to test if solving for the variable named Used to combine related equations into one Solver menu See page 178 SGN x Sign of x 1 if x gt 0 O if x 0 1 if x lt 0 170 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 Table 12 2 Solv
25. if you are working with two different but related problems you can keep the same Solver menu labels in the display all the time you don t have to switch equations For example consider these two equations for conversions KGx2 21 LB and Mx3 28 FT The following rearranged single equation can do either conversion IFCS KG OF SCLB3 KGxe2 2i LBi Mes 26 FTI 68 This means if you are solving for either KG or LB then use KG x 2 21 LB 0 Otherwise that is if you are solving for M or FT use M x 3 28 FT 0 The two conversion equations are rewritten so that all the variables appear on one side of each equation and the other side is set equal to zero The S function appears as part of the conditional expression of the IF function You can leave out the 0 and it will be understood that the whole equation is set equal to zero Example Unit Conversions Use the above equation to convert between kilograms and pounds and between meters and feet Press SOLVE NEW then enter the equation 178 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 IFCS KGs OR SCLBo KkGxe 2i LBi Mixa 26 FT3 Press to store it then CALC to verify it and create its menu 1 Convert 225 pounds to kilograms Press 225 LB KG Resultis kG i6i 8i 2 How many feet equal 100 meters Press 100 FT Result is FT 328 0G Note that you do not have to clear variables between steps 1 and 2 The
26. or Premium Mortgage Annual Percentage Rate for a Loan with Fees Loan with an Odd Partial First Period Canadian Mortgages Advance Payments Leasing Savings Value of a Fund with Regular Withdrawals Deposits Needed for a Child s College Account Value of a Tax Free Account Value of a Taxable Retirement Account Modified Internal Rate of Return Price of an Insurance Policy Bonds Discounted Notes Statistics Moving Average Chi Squared x Statistics Contents File name English M02 1 040308 Print doc Print data 2004 3 9 9 A 222 222 222 224 224 225 227 228 229 230 230 230 232 233 235 237 237 B 238 238 238 239 239 240 240 242 246 246 247 247 247 248 10 Contents Assistance Batteries Memory and Service Obtaining Help in Operating the Calculator Answers to Common Questions Power and Batteries Low Power Indications Installing Batteries Managing Calculator Memory Resetting the Calculator Erasing Continuous Memory Clock Accuracy Environmental Limits Determining If the Calculator Requires Service Confirming Calculator Operation Self Test Warranty Service Regulatory information Noise Declaration More About Calculations IRR Calculations Possible Outcomes of Calculating IRR Halting and Restarting the IRR Calculation Storing a Guess for IRR Solver Calculations Direct Solutions Iterative Solutions Equations Used by Built in Menus Actuarial Functions Percentage Calculations in Bus
27. the same Interest is compounded semi annually while payments are made monthly To use the TVM menu in the hp 17bll you need to calculate a Canadian mortgage factor to store as I YR 1 Set End mode and store 12 PAYR 14 Additional Examples 197 File name English M02 1 040308 Print doc Print data 2004 3 9 2 StoreO PMT 6 HW and 200 PY 3 Add 200 to the annual interest rate make the number negative and store itin Fu 4 Press I R to calculate the Canadian mortgage factor 5 Continue the problem by supplying the other mortgage values 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 FIN TuM Displays TVYM menu sets OTHER gg CLR DATA 12 payments per year i2 PFY EMO MODE with End mode O PHT FMT 6 06 6 4H H 6 88 200 P4 Pu 260 00 lt 02 Fy Fil 212 06 ISYR IzYR ii Fi Calculates 1 YR for Canadian mortgage factor 30 ww H H 368 66 Stores other values 30000 PY PYV 38 468 68 QO FY FV 6 88 PMT PMT 281 92 Monthly payment A Solver Equation for Canadian Mortgages CAH P PMTXUSPUC CC it T AY Rt2689 01 69 L9xi Bei HI FVxSPPVCCCL 1T RY R 2669 C1i 63 Loxibei HI 198 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 For the operator press fal J PV loan amount
28. usually only one solution to the calculation However calculating IRR for certain sets of cash flows is more complex There may be more than 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 E Case 1 The calculator displays a positive answer This is the only positive answer However one or more negative answers may exist m Case 2 The calculator finds a negative answer but a single positive solution also exists It displays IRR amp 8 EXISTS KEY IH GUESS CSTO tIRRX To see the negative answer press To search for that positive answer you must input a guess Refer to Storing a Guess for IRR below There might also be additional negative answers E Case 3 The calculator displays a negative answer and no message 238 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 This is the only answer m Case 4 The calculator displays the message MANY HO SOLUTIONS KEY IH GUESS CSTO1 IRR The calculation is very complex It might involve more than one positive or negative answer or there may be no solution To continue the calculation you must store a guess m Case 5 The calculator displays HO SOLUTION There is no answer This si
29. 20 32 v 16 17 262 CALC menu in CFLO menu 101 in SOLVE menu 158 59 in SUM menu 128 in TIME menu 150 Calculations RPN order of 274 parenthesis in 266 274 Calculator not functioning 230 31 resetting 225 228 Support 222 Calculator line arithmetic in 38 48 definition 18 displaying alphabetic information 31 32 editing 20 Calendar See also Date 360 day 150 365 day 150 actual 150 range of 149 Calendar basis 108 9 Call 110 112 Canadian mortgage 197 99 252 292 Index File name English M02 1 040308 Print doc 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 clearing 99 copying from 98 correcting 97 creating 94 definition 91 deleting numbers 98 editing 92 97 entering numbers in 95 97 GETting a new list 99 inserting numbers 98 name clearing 99 naming 98 99 printing 187 signs of numbers 92 Print data 2004 3 9 starting a new list 99 viewing name of current list 99 viewing numbers 97 Chain calculations 21 38 39 38 in RPN 266 274 Changing batteries 225 26 the sign of a number 22 Characters for CFLO list 98 99 for equation names 161 for SUM lis
30. 3 9 Entering Cash Flows To enter cash flows into a CFLO list 1 Press FIM CFLO You will see either FLOW amp 2 7 if the current list is empty or FLOW i or more3 7 if the list is not empty This is the bottom of the current list FLOW a CALC IHR DELET NAME GET 17 2 If the list is not empty you can do either a or b a Clear the list by pressing CLR DATA YES see also page 99 b Geta new list by pressing GET NEW The old list must be named first Press MAME or see page 97 3 If the cash flows are ungrouped that is they are all different then press 1 to turn TIMES PROMPTING OFF For grouped cash flows leave this prompting on For more information see Prompting for TIMES next page 4 Key in the value of the initial cash flow FLOW O remember that money paid out is negative use to change the sign and press INPUT 5 After briefly showing FLOW 0O the display shows FLOW i 3 7 To view FLOW 0 longer hold down before releasing it Key in the value for FLOW 1 and press INPUT The prompt for the next item appears 6 For grouped cash flows The display now shows TIMES i2 1 If it does not press T to turn the TIMES prompting on See Prompting for TIMES below TIMES is the number of consecutive occurrences of FLOW 1 TIMES has You can do calculations with a number before entering it This does not interfere with the list When you press UNP
31. 35 RY 43 263 CL 45 46 98 in RPN calculations 266 with variables 28 Rt 263 Radix decimal point 34 Range calculating 128 of numbers 48 Rate of return periodic 100 Recalling numbers 45 46 from variables 28 in RPN 264 266 with LAST 44 Reciprocal key 41 Register storage 45 46 Registers arithmetic in 46 in RPN 268 73 printing the contents 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 147 304 Index File name English M02 1 040308 Print doc 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 appendixes D E and F or individual entries Running total 123 24 S SL 115 SETT 109 SALY 115 sovo 115 STOEV 128 SORT 128 SET 142 SELCT 55 SF 56 S KR 56 St 56 STK 186 SIZE 132 SHOW 34 S70 45 46 calculations with RPN 266 Print data 2004 3 9 S function 170 Sample standard deviation 128 Saving numbers 43 Savings account 71 72 college 202 6 college RPN 278 regular 200 202 retirement 208 retirement RPN 282 tax free 206 9 tax free RPN 280 Savings calculations 71 73 Scientific notation 47 Self test 232
32. 57 Your protection cost 6 57 per 1 000 face protection value Insurance protection could be purchased for 3 per 1 000 face value Calculate the rate of return on your savings Keys Display Description 3 INS IHS 3 88 Stores price of alternate insurance Ix Tas2 26 Calculates rate of return 214 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 Reference Joseph M Belth Life Insurance A Consumer s Handbook Indiana University Press 1973 p 234 Bonds Example Yield to Maturity and Yield to Call On March 16 2003 you consider the purchase of a 1 000 bond that was issued on January 1 2001 It has a 10 5 semiannual coupon using a 30 360 calendar and matures on January 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 FIN BOND Displays BOND menu TYPE 366 Sets semiannual bond SEMI 367366 SEMIAHHUAL on 30 360 calendar fw CLR DATA 36368 SEMIANNUAL Clears variables sets 3 162003 SETT SETT 8316 2883 SUH CALL to 100 Stores today as purchase date 1 012031 MAT MAT 8i Gi 263i WED Stores maturity date 10 5 CPH CPHA 16 568 Stores coupon rate MORE Stores price Displays 115 174 PRICE LO PRICE ii5 if TLOA 9 668 only two
33. 6 688 66 13 5 ANHI AHHI i3 56 5 DAYS DAYS 5 66 PMT PMT 263 99 Description Displays SOLVE menu and bottom of Solver list Displays ALPHA menu Remember that the colon is located after OTHER Press Harz OTHER E Enters equation verifies it and creates menu Stores loan amount in PV Stores annual percent interest in ANNI Stores number of odd days in DAYS Stores number of payments in N Calculates monthly PMT of 203 99 12 The Equation Solver 173 File name English M02 1 040308 Print doc Print data 2004 3 9 Conditional Expressions with IF Equations can include conditional expressions using the function IF The syntax of the IF function is IF conditional expression algebraic expression algebraic expression then or else For example the solver accepts the equation BOHUS IF SALES 3666 62 x SALES Bi x SALES According to this equation if SALES is greater than 3000 then the BONUS equals 02 x SALES otherwise or else BONUS equals O1 x 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 lt ALPHA menu EG 2 gt lt E 3 2 174 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 Examples of Conditional Equations MEB i
34. 68 69 See also insufficient 227 ian losing 229 see ne ne calculations 67 71 77 80 i g d discounted or premium 191 enu Movi labels 19 si average 217 19 maps 25 254 60 MaRS BO Menus ae 247 calculations with 27 28 MUP 50 changing 25 28 equation 247 exiting 28 Multiple equations linking 178 names of 161 Multiplication printing values stored in in arithmetic 21 38 40 186 88 in equations 165 sharing variables 53 Messages for appointments N 147 Messages error 283 am 56 MEXT 78 MIN Solver 170 300 Index File name English M02 1 040308 Print doc Print data 2004 3 9 H 63 MAME in CFLO list 98 99 in SUM list 126 WPu 1017 MUS 101 HEY 101 HEH 157 HIS 56 H KR 56 NTs 56 H 42 HOM 85 86 m H 63 N non integer 63 72 Names of equations 161 of lists clearing 99 of variables 166 Negative numbers in arithmetic calculations 22 in cash flow calculations 92 94 in TVM calculations 64 Neighbors in Solver 243 Nested IF function in the Solver 175 Net future value 91 101 Net present value 91 101 Net uniform series 91 101 NFV calculating 91 101 File name English M02 1 040308 Print doc 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
35. Calculations The CURRX menu does currency exchange calculations between two currencies using an exchange rate that you calculate or store The CURRX Menu FIN BUS SUM TIME SOLVE CURRX rT tT T US EURE RATE C STO C RCL SELCT To display the currency exchange menu from the MAIN menu press CURRAS Currency 1 is US Currency 2 is EURE U S Dollar EURO Dollar 54 4 Currency Exchange Calculation File name English M02 1 040308 Print doc Print data 2004 3 9 Table 4 1 The CURRX Menu Menu Key Description curr Current currency 1 stores or calculates the number of units of this currency curr2 Currency currency 2 stores or calculates the number of units of this currency RATE Stores or calculates the exchange rate between the two current currencies The rate is expressed as the number of units of currency 2 equivalent to 1 unit of currency 1 C STO Stores the current currency 1 currency 2 and RATE C RCL Recalls a previously stored pair of currencies and RATE SELCT Selects a new set of currencies Selecting a Set of Currencies To select a pair of currencies 1 Press SELCT 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
36. Clearing a Number To change a number atter it s been entered display the number key in the new value and press INPUT Use this same method to clear a number to zero Do not press or which clear the calculator line not the cash flow entry Inserting Cash Flows into a List Insertion occurs before above the current flow Pressing INSR inserts a zero cash flow and renumbers the rest of the list You can then enter a new cash flow and its TIMES For example if FLOW 6 is in the display pressing INSR puts a new zero flow between the previously numbered FLOW 5 and FLOW 6 Deleting Cash Flows from a List Pressing DELET 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 Y or A to display the number then press CINPUT Naming and Renaming a Cash Flow List A new list has no name You may name it before or after filling the list but you must name it in order to store another list To name a list 1 Press HAME from the CFLO menu 2 Use the ALPHA menu to type a name The ALPHA and ALPHA Edit menus are covered on pages 30 32 To clear a name press CLR J 3 Press INPUT 98 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 The name can be up to 22 characters long and include any character except x lt gt space But only the first
37. Continue reading in chapter 2 to learn about the other functionality of your calculator Watch for this symbol in the margin earlier in the manual VY It identifies 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 determines the operating logic used for arithmetic calculations To select RPN mode Press f MODES RFH The calculator responds by displaying RPM MODE This mode remains until you change it The display shows the X register from the stack To select ALG mode Press f MODES ALG The calculator displays ALGEBRAIC MODE 262 D RPN Summary File name English M02 1 040308 Print doc Print data 2004 3 9 Where the RPN Functions Are Ooo ow oto INPUT a C LIJI CI w G a v J o oa w Oo wv a w w w Z w o uy ENTER Function Definition Key to Use Name Enters and separates one E number from the next Recalls last number in m LAST X register Rolls down stack contents R same as 0 Rolls up stack c
38. H 368 68 PY 68 688 68 FVH8 668 PMT 594 17 PUS5S 566 Be Description If necessary sets 12 payments per year and End mode Figures and stores number of payments Stores interest rate and amount of loan No balloon payment so future value is zero Borrower s monthly payment 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 194 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 calculate the monthly PMT loan x 12 12 mos When calculating the I YR the FV a balloon payment is the entire loan amount or 1 000 000 while the PV is the loan amount minus the points Keys Display Description FIN Th If necessary sets 12 OTHER payments per year and fan CLR DATA i2P R ENDMODE End mode 10 H H 126 66 Stores total number of payments 1000000 Calculates annual interest V2 ag 120 006 00 on 1 000 000 12 PMT FHT i6 666 66 and calculates then stores monthly payment 1000000 Stores entire loan amount Fu FW 1 888 8868 68 qs balloon payment Va 3 AE Calculates then stores 7 FAY PV S78 666 66 amount borrowed total points Inve InvR
39. RSTU S5 RSTN T Pe OxLxW 9 COST Pe OxLxW 9 COST Note that the is just a character 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 EDIT in the SOLVE menu or press in the ALPHA menu EDIT DEL lt lt gt gt AIPHA EXIT ABCDE FGHI JKLM NOPQ RSTUV WXYZ EXIT 1 Getting Started 31 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 1 4 Alphabetic Editing Operation Label or Key to Press ALPHA Edit Menu Inserts character before the cursor Any character Deletes character at the cursor DEL Moves the cursor far left one gi display width Moves the cursor left i Moves the cursor right Moves the cursor far right one display width Displays the ALPHA menu again ALPHA Keyboard Backspaces and erases the character before the cursor Clears the calculator line CLR Calculating the Answer CALC After an equation is input pressing CALC verifies it and creates a new customized menu to go with the equation Peb L W COST all Menu labels for your variables Each of the variables you typed into the equation now appears as a menu label You can store and calculate values in this menu the same way you do in other menus 32 1 Getting Started File name Engli
40. TRACE 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 off 13 Printing 189 File name English M02 1 040308 Print doc Print data 2004 3 9 14 Additional Examples Loans Simple Annual Interest See appendix F for RPN keystrokes for this example Example Simple Interest at an Annual Rate Your good friend needs a loan to start her latest enterprise and has requested that you lend her 450 for 60 days You lend her the money at 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 x Sede V Keys Display Description 450 x 7 456 66 x6 Br Annual interest 60 365 Actual interest for 60 3 18 days 450 455 18 Add principal to get total debt A Solver Equation for Simple Annual Interest DEBT LOAH LOAMxXITA iBexDAYS 365 DEBT the total owed at the end of the loan period LOAN the original amount principal lent I the annual interest rate as a percent DAYS the number of days in the loan 190 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 For instructions on entering Solver equations see Solving Your Own Equations on page 29 If you know the dates for the course of the loan rat
41. The sign conventions used for cash flow calculations are the same as those used in time value ofmoney calculations A typical series of cash flows is one of two types E Ungrouped cash flows These occur in series of cash flows without groups of equal consecutive flows Because each flow is different from the one before it the number of times each flow occurs is one Any cash flow series can be treated as an ungrouped one if you enter each flow individually 92 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 Money received is a positive number 200 100 Time periods Money paid out 2 rt A A A A M A is a negative 2 2 2 2 2 2 number SSSR 85 S FLOW 0 700 TIMES 1 Figure 7 1 Cash Flows Ungrouped The horizontal timeline is divided into equal compounding periods The vertical lines represent the cash flows For money received the line points up positive 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 m Grouped cash flows These occur in a series containing groups of equal consecutive flows Consecutive equal cash flows are called grouped cash flows The series s
42. Time Appointments and Date Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 2 Key in the second date and press DATEZ 3 Press DAYS 3680 or 3650 to calculate the number of days using that calendar Example Calculating the Number of Days between Two Dates Find the number of days between April 20 2003 and August 2 2040 using both the actual calendar and the 365 day calendar Assume the date format is month day year Keys Display Description TIME CALC Displays CALC menu 4 202003 Stores Apr 20 2003 DATE1 DATEi as first date and 6472672663 SUH displays its day of the week 8 022040 Stores Aug 2 2040 as DATE2 DATE2 second date 687 62 7 2646 THU DAYS ACTUAL DAYS Calculates actual 13 619 06 number of intervening days 3650 265 DAYS 13 683 68 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 date for today s date use TODAY and press DATEL 2 Key in the number of days This number should be negative if the unknown date precedes the known date Press ORYS 11 Time Appointments and Date Arithmetic 151 File name English M02 1 040308 Print doc Print data 2004 3 9 3 Press DATEZ This calculation always uses the actual calendar Example Determining a Future Date On February 9 2003 you purchase a 1 20 day option on a piece of
43. 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 number after supplying the function You can also type these functions letter by letter using the ALPHA menu However it is faster to select math operators directly on the keyboard or in the MATH menu This is called a typing aid For instance these two methods of placing 25 factorial into an equation are equivalent Starting after SOLVE NEW 1 Using the ALPHA Menu Keys Display Description FGHI F F PBCDE A FA 12 The Equation Solver 167 File name English M02 1 040308 Print doc Print data 2004 3 9 ABCDE C FAC RSTU T FACT O25 0 E FACT lt 259 ABCDE A FACT 259 A 2 Using a Typing Aid Keys Display H FACT 25 QE FACTC259 RBCOE A FACT C253 A Solver Functions This calculates 25 factorial Description MATH menu labels appear The ALPHA menu automatically returns after one MATH selection This also calculates 25 and with fewer keystrokes 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 y but not In the Solver is just a character not an operator 168 12 The Equation Solver Fil
44. appointment date was in the past RPM Sets AM or PM for 12 hour clock MSG Displays the ALPHA menu and any existing message RPT Displays the existing repeat interval and the menu for changing the repeat interval HELP Displays the format for entering the date and time Before setting an appointment you must set the current date and time refer to Setting the Time and Date SET on page 143 11 Time Appointments and Date Arithmetic 145 File name English M02 1 040308 Print doc Print data 2004 3 9 To set an appointment or view its current setting 1 Press TIME then AFFT The display tells you which appointments numbered 1 10 are set and which are past due expired with unacknowledged alarms Pressing MORE displays the status and menu labels for appointments 6 through 10 2 Press a menu key APTI through APTIG The display shows the current appointment if any and the menu labels for setting appointments 3 Optional press ga CLR DATA to remove any old information Appointment number i Ge Bee 12 00A TIME A PM MEG RPT HELP Menu for setting appointments Message Repeat interval 4 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 TIME The date is automatically set to the current date if the existing date is in t
45. between a nominal annual interest rate and an effective annual interest rate that is compounded continuously 1 Press FIN ICHM to get the interest conversions menu 2 Press CONT for continuous 3 To convert to the effective rate key in the nominal rate and press HOM then press EFF 4 To convert to the nominal rate key in the effective rate and press EFF then press MOMs Values of EFF and NOM are shared between the PER and CONT 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 gs CLR DATA in either menu clears NOM and EFF in both ICNV PER CONT NOM EFF P NOM EFF aum 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 most favorable interest rate Bank 1 6 7 annual interest compounded quarterly Bank 2 6 65 annual interest compounded monthly Bank 3 6 65 annual interest compounded continuously Keys Display Description FIN ICHY Displays ICNV menu PER COMPOUNDING P Displays PER menu TIMES 7R 86 6 Interest Rate Conversions File name English M02 1 040308 Print doc Print data 2004 3 9 6 7 HOM EFF 12 F 6 65 HOM EFF CONT EFF P 4 B6 HOMA 6 78 EFFa 6 97 P i2 66 HOMA 6 65 EFF2 6 56 CONTINUOUS C
46. cannot contain the characters x lt gt 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 have the same first three to five characters Do not use AND NOT OR XOR or PI as variable names because they will be interpreted as functions Numbers Constants Do not put commas or other characters in numbers For instance type i Beg for ten thousand not 16 888 166 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 Parentheses Do not use brackets or braces Parentheses determine order but do not imply multiplication For example the equation Psn Ps 1 F would be typed into the Solver as FSH PSx 1 F The x sign must be inserted between P S and the parenthesis Functions and Conditional Expressions An equation can contain any of the functions and conditional expressions given in the table on pages 168 171 Some of these functions also have typing aids Math Operators Typing Aids All of the math operators are located either on the keyboard fad t xJ etc or in the MATH menu LN EXP etc Any of these 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 aa Gx produces SGRT for example
47. cash flows B More About Calculations 253 File name English M02 1 040308 Print doc Print data 2004 3 9 C Menu Maps The following maps show how to display each of the menus There is a map for each menu label in the MAIN menu and for each menu found on the keyboard 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 J OL Variable used to store values cannot be used to calculate values BUS CHG TOTL MU C MU P OLD NEW CH COST PRICE M C TOTAL PART 1 COST PRICE M P Figure C 1 BUS Menu 254 C Menu Maps File name English M02 1 040308 Print doc Print data 2004 3 9 CURRX CURRI CURR2 RATE C STO C RCL SELCT Currencies Figure C 2 CURRX Menu C Menu Maps 255 File name English M02 1 040308 Print doc Print data 2004 3 9 FIN TVM ICNV GHO Sails faa NOMA mat CALC INSR DELET e GET x NEW Names PEN Lists COD CRO CM ADAN CN CYR PV M FY omer P YR BEG END AMRT NEXT TABLE co Figure C 3 FIN Menu 256 C Menu Maps File name English M02 1 040308 Print doc Print data 2004 3 9 FIN BOND DEPRC YR FACT _DB_ SOYD C SL_ MORE YLD PRICE ACCRU MORE 360 A A SEMI ANN F
48. 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 m Calculate the weighted mean and grouped standard deviation m Find the summation statistics Xx x Zy y Uxy You can store many separate lists of numbers in SUM The maximum number depends on the amount of available calculator memory 10 Running Total and Statistics 121 File name English M02 1 040308 Print doc Print data 2004 3 9 The SUM Menu FIN BUS SUM TIME SOLVE CURRX CALC INSR DELET NAME GET TOTAL TOTAL MEAN MEDN STDEV RANGE MORE MIN MAX SORT a MORE The SUM menu creates lists of numbers and performs calculations with a SUM list Table 10 1 SUM Menu Labels Menu Description Label CALC 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 IHSR Allows you to insert numbers into the list DELET Deletes numbers from the list HAME Allows you to name the list GET Allows you to switch from one named list to another or to create a new list TOTAL Displays the total of all the items in the list 122 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 To see the calculator line when this menu is in the display
49. decimal places double space printing off printer tracing off printer without the ac adapter and beeper on m Maintains the selected mode ALG or RPN Period or comma decimal point Erasing Continuous Memory does not affect the current time and date date and the selected language To erase Continuous Memory press and hold down ELR the leftmost menu key and the rightmost menu key Press three keys simultaneously When the three keys are released the calculator displays MEMORY LOST Continuous Memory can inadvertently be erased if the calculator is dropped or if power is interrupted A Assistance Batteries Memory and Service 229 File name English M02 1 040308 Print doc Print data 2004 3 9 Clock Accuracy The clock is regulated by a quartz crystal accurate to within 1 5 minutes per month under normal conditions The accuracy of the clock crystal is affected by temperature physical shock humidity and aging Optimum accuracy is maintained at 25 C 77 F Environmental Limits In order to maintain product reliability observe the following limits E Operating temperature 0 to 45 C 32 to 113 F E Storage temperature 20 to 65 C 4 to 149 F E Operating and storage humidity 90 relative humidity at 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
50. flow occurs for group j k the group number of the last group of cash flows N gt n total number of cash flows prior to group j 1 lt 7 lt j k NPV CE X C x USPVII n x SPPVU N j l When NPV O the solution for i is IRR 248 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 k NFV NPV x SPFV i N where N 4 j l NPV NUS USPV i N k TOTAL X n x CF 0 Bond Calculations Reference Lynch John J Jr and Jan H Mayle Standard Securities Calculation Methods Securities Industry Association New York 1986 A accrued days the number of days from beginning of coupon period to settlement date E number of days in coupon 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 a decimal fraction YLD 100 For one or fewer coupon period to redemption CPN PRICE em fg NE r ETM 1 x E lt M For more than one coupon period to redemption B More About Calculations 249 File name English M02 1 040308 Print doc Print data
51. have been offered an opportunity to invest 20 000 The investment returns quarterly payments over four years as follows Year 1 Year 2 Year 3 Year 4 4 payments of 500 4 payments of 1 000 4 payments of 2 000 4 payments of 3 000 7 Cash Flow Calculations 105 File name English M02 1 040308 Print doc Print data 2004 3 9 gt 000 L gt 000 gt 000 L 005 gt 00S gt 00S gt 00S gt 000 000 Z 000 Z 000 Z gt 0007 gt 000 gt 000 gt 000 J ______ 990 FLOW 0 20 000 Calculate the annual rate of return for this investment The prompting for TIMES should be on Keys Display FIN cCFLO CLR DATA YES or CET HEH 20000 500 FLOW CG 3 7 FLOW Cia 7 TIMES isi 4 FLOWC29 7 1000 INPUT 2000 INPUT 3000 INPUT 106 7 Cash Flow Calculations Description Current cash flow list Clears the current list or gets a new one This sets the TIMES prompting on Stores the initial cash flow Stores FLOW 1 then prompts for number of times this flow occurs FLOW 1 occurs four times Stores FLOW 2 FLOW 3 and FLOW 4 and the number of times each flow occurs File name English M02 1 040308 Print doc Print data 2004 3 9 FLOWS Sa 7 CALC Calculates quarterly rate IRR IRR 2 43 of return Vo 2 72 Calculates nominal annual rate of return from qua
52. i2 53 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 called an odd or partial first period The following Solver equation calculates N 1 PV PMT or FV for transactions involving an odd first period using simple interest for the odd period The formula is valid for 0 to 59 days from inception to 14 Additional Examples 195 File name English M02 1 040308 Print doc Print data 2004 3 9 first payment and a 30 day month is assumed A Solver Equation for Odd Period Calculations OOO P x ik iG xFPCORYS 369 19 IFCOARYS 36 CitTe ieBoxPhT i PMT oxUSPY CTX Ho FUx SPP Tat HO For the character press WeYZ OTHER lt PV the loan amount I the periodic interest rate DAYS the actual number of days until the first payment is made PMT the periodic payment N the total number of payment periods FV the balloon payment A balloon payment occurs at the end of the last Nth period and is in addition to any periodic payment The following examples assume that you have entered 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 Od
53. of memory A clears the calculator line CLR DATA clears the data lists or variables accessible from the current menu Erasing the entire contents of memory is covered in Erasing Continuous Memory on page 229 Q Why am getting the wrong answer using the TVM menu A Be sure to enter a value for all five TVM variables even if a value is zero as FV is for a loan without a balloon Clearing the variables before starting mj CLRDATA accomplishes the same thing Check the appropriate payment mode mortgages and loans are typically End mode calculations and specify the number of payments per year Fe R Also check that all figures for money paid out are negative the cash flow sign convention Q Can access the TVYM 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 Can access the data stored in my CFLO and SUM lists from the Solver A Yes See Accessing CFLO and SUM Lists from the Solver page 177 Q How do indicate multiplication in an equation typed into the Solver A Use the multiplication key x You cannot use the letter in the ALPHA menu Q What does an E in a number for example 2 51E 13 mean A Exponent of ten for example 2 51 x 107 Refer to Scientific Notation on page 47 Q The calculator has displayed the message IMSUFFI
54. periodically such as 18 per year compounded monthly Em 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 84 6 Interest Rate Conversions File name English M02 1 040308 Print doc Print data 2004 3 9 The ICNV Menu FIN BUS SUM TIME SOLVE CURRX TVM ICNV CFO BOND DEPRC PER CONT NOM EFF P NOM EFF The ICNV menu converts between nominal and effective interest rates using either Periodic compounding for example quarterly monthly or daily compounding Continuous compounding Converting Interest Rates To convert between a nominal annual interest rate and an effective annual interest rate that is compounded periodically 1 2 3 File name Press FIN ICW to display the interest conversions menu Press FER for periodic Key in the number of compounding periods per year and press F To convert to the effective rate first key in the nominal rate and press Hott then press EFF To convert to the nominal rate first key in the effective rate and press EFF then press MOM 6 Interest Rate Conversions 85 English M02 1 040308 Print doc Print data 2004 3 9 To convert
55. standard 10 Running Total and Statistics 129 File name English M02 1 040308 Print doc Print data 2004 3 9 deviation MORE Displays rest of CALC menu MIH MIH i75 606 Finds smallest number Calculations with Two Variables FRCST The FRCST menu does the following two variable calculations using two SUM lists E Fits x and y data to a linear logarithmic exponential or power curve E Forecasts estimated values based on that curve E Finds the weighted mean and grouped standard deviation m Shows you the summation statistics x Ex Ly Ly Lxy etc 130 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 CALC TOTAL MEAN MEDN STDEV RANGE MORE MIN MAX SORT FRCST MORE select x and y xlist y list CORR M B bira MODL W MN G SD SIZE MORE LIN LOG EXP PWR xX ZY 2X2 2Y2 XY MORE After pressing FRCST 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 10 Running Total and Statistics 131 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 10 3 FRCST Menu Labels list name for x variable These specify the two lists of data to be list name for y variable compared Also used for estimations store x and estimate y or vice versa CURR is the menu label for an unnamed current list CORE Calculates the correlation coeffi
56. three to five characters depending on letter widths of the name are used for a menu label Avoid names with the same first characters since their menu labels will look alike Viewing the Name of the Current List Press MAME then EXIT Starting or GETting Another List When you press FLO the cash flow list that appears is 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 GET The GET menu contains a menu label for each named list plus MEM 2 Press the key for the desired list NEH 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 f CLR DATA YES This removes the numbers 2 If the list is named you ll see ALSO CLEAR LIST MANE Press YES to remove the name Press HO to retain the name with an empty list CFLO does accept these exceptional characters in list names but the Solver functions SIZEC FLOW and T do not 7 Cash Flow Calculations 99 File name English M02 1 040308 Print doc Print data 2004 3 9 To remove just one value at a time from a list use DELET Cash Flow Calculations IRR NPV NUS NFV Once you have entered a list of cash flows you can calculate the following values in the CALC menu m Sum TOTAL E Internal rate of return IRR This is a periodic rat
57. 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 J ARBRE EEE 91384615293 Sign of LEFT RIGHT for each estimate Since calculators cannot do calculations with infinite precision the hp 17bll uses 12 digits in its calculations sometimes the Solver will be unable to find an estimate where LEFT RIGHT is exactly zero However the Solver can distinguish between situations where the current estimate could be a solution and situations where no solution is found Exceptions 1 Occurrences of the unknown variable as the argument of the S function are ignored 2 The unknown variable can appear twice within an IF function once in the then clause and once in the else clause 242 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 The iterative search for a solution sometimes takes several minutes You can halt the search at any time by pressing any key except f There are four possible outcomes m Case 1 The calculator displays an answer This is very likely the true solution for the unknown variable There are two situations in which the Solver returns a case 1 answer m Case la LEFT RIGHT is exactly zero m Case Ib LEFT RIGHT is not zero for either estimate However the Solver has found two estimates that cannot get any closer together Numbers t
58. types 30 360 or actual actual semi annual or annual Stores the settlement purchase date according to the current date format MM DDYYYY or DD MMYYYY see page 143 Stores the maturity date or call date according to the current date format The call date must coincide with a coupon date Stores the annual coupon rate as a percentage Stores the call price 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 MORE t 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 calculator retains the values of the BOND variables until you clear them by pressing CLRDATA while the BOND menu is displayed Clearing sets CALL to 100 and all other variables to zero To see the value currently stored in a variable press menu label 8 Bonds 109 File name English M02 1 040308 Print doc Print data 2004 3 9 Doing Bond Calculations Remember that values in the BOND menu are expressed per 100 face value or as a percentage A CALL value of 102 means that the bond will be worth 102 for every 100 of face value when called Some corporate bonds in the United States use the convention that the price of the bond is set to 100 if
59. value OVERFLOW A warning not an error that the magnitude of a result is too large for the calculator to handle so it returns 9 99999999999E499 rounded to the current display format See page 47 for limits SOLUTION HOT FOUND Error Messages 287 File name English M02 1 040308 Print doc Print data 2004 3 9 No solution was found for a Solver equation using the current values stored in its variables Refer to page 246 in appendix B UMOERFLO 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 UMEGUAL LIST LENGTHS Attempted a two list SUM calculation using lists of unequal lengths 288 Error Messages File name English M02 1 040308 Print doc Print data 2004 3 9 Index Special Characters 47 E _ low battery annunciator 17 184 224 ___4 shift annunciator 19 40 TOTL menu formula 247 using 51 tA 22 x 139 171 176 77 220 35 35 4 78 T 92 95 96 97 HEW 127 CHG 49 50 TOTL 49 51 xT 51 EX 132 139 EY 132 139 Exe 132 139 E 2 132 139 EXY 132 139 HF 144 MIH 144 File name English M02 1 040308 Print doc iz 24 143 18 42 2680 150 7650 150 alarm annunciator 147 CHG menu formula 247 using 50 lt or gt a 53 os 32 19 Y or a 43 269 editing a list 98 in a list 96 162 with his
60. 004 3 9 After briefly showing ITEM 1 the display shows ITEM 29 TOTAL number TOTAL is the updated running TOTAL of all the numbers in the list only one number so far 4 To enter ITEM 2 key in the value and press INPUT The prompt for ITEM 3 and the new updated total appear 5 Continue entering values for ITEM 3 ITEM 4 etc The calculator recognizes the end of the list when an item is left blank no value is entered 6 Press to end the list and restore the SUM menu You can now proceed to correct the list name the list get another list or do statistical calculations Use these same instructions to enter additional lists Viewing and Correcting the List To display a particular list use GET see page 127 The 4 and keys move up and down the list one number at a time fl A and f 7 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 INPUT Use the same method to clear a number to zero Do not press or which clears the calculator line Inserting Numbers into a List Insertion occurs before or above the current entry Pressing INSR inserts a zero item and renumbers the rest of the list You can then enter a new value For example if ITEM 6 is in the display pressing INSR puts a new zero item between the previously numbered ITEM 5 and ITEM 6 124 10
61. 1 040308 Print doc Print data 2004 3 9 Doing Arithmetic The in the margin is a reminder that the example keystrokes are for ALG mode This is a brief introduction to doing arithmetic More information on arithmetic is in chapter 2 Remember that you can erase errors by pressing or CLR To calculate 21 1 23 8 Keys Display Description 21 1 21 18 23 8 21 16 23 8 G 44 90 completes 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 PF 35 90 89 EJ i354 65 wO 12 B 96 75 356 27 64 Calculates 77 35 90 89 New calculation V65 x 12 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 from left to right in the order you enter them Compare 654 12 3 5 65 12 J 3 5 E 22 08 File name English M02 1 040308 Print doc and 65 i 3 5 Operations occur in the order you see them 1 Getting Started 21 Print data 2004 3 9 65 12 J Use parentheses to impose 3 5 DEJ 65 43 an order of calculation Keying in Negative Numbers t2 The key changes the sign of a number m To key in a negative number type that number then press 4 m To change the sign of an already displayed number it must be the rightmost number
62. 1 040308 Print doc Print data 2004 3 9 ITAL 18 Isyk key 63 IH RS INTI 56 CINPUT 98 for storing equations 30 in CFLO menu 92 in RPN 264 in the Solver list 157 58 in SUM list 123 1 101 ICNV equations 248 menu 84 85 variables clearing 86 IDIV 170 IF 170 174 76 nested 175 Independent variable 134 Individual Retirement Account 72 73 Inserting characters 32 Installing batteries 225 26 Insufficient memory 37 227 Insurance policy price 213 15 INT 170 INT rounded in amortization calculations 78 Interest compound 61 84 equation 248 on loan amount of PMT applied toward 80 81 298 Index 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 calculating IRR and NPV of 101 3 with grouped cash flows 104 5 IP 170 IRA 72 73 206 IRR 100 101 209 IRR calculations 238 40 halting 239 IRR estimate making 239 40 seeing current 239 IRR solutions types of 238 39 ITEM 170 File name English M02 1 040308 Print doc Print data 2004 3 9 Iteration in Solver 179 83 240 242 46 L LIFE 115 LIN 132 LIST 186 Loc 42 LH 42 LAST 44 in RPN 273 L 170 Language setting 224 Large number
63. 1 988 668 Description Displays DEPRC menu Cost basis Salvage value Useful life First year of depreciation DB percentage factor Depreciation in first year Salvage value ignored at this point Remaining depreciable value after first year BASIS SALV 4 000 Depreciation in second year Remaining depreciable value after second year Depreciation in third year Remaining depreciable value after third year Straight line depreciation for each year 9 Depreciation 117 File name English M02 1 040308 Print doc Print data 2004 3 9 BA ROV 3 388 88 Remaining depreciable value after third year using SL The ACRS Method To calculate the amount of tax deduction under the U S Accelerated Cost Recovery System 1 Display the DEPRC menu press FIM DEPRE 2 Enter the cost basis of the asset and press BASIS 3 The Internal Revenue Service publishes tables 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 ACERS 4 Press RERS 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 Keys Display Description FIH DEPRIC DEPRC menu 25000 BASIS BASIS 25 686 88 Enters basis 15 ACRSX ACRS lt 15 66 Tabular value year 1
64. 2 1 040308 Print doc Print data 2004 3 9 You can also do arithmetic with the values stored in variables For example 2 MC in the MU C menu multiplies the current contents of M C by 2 and stores the product in M C Scientific Notation Scientific notation is useful when working with very large or very small numbers Scientific notation shows a small number less than 10 times 10 raised to a power For example the 1984 Gross National Product of the United States was 3 662 800 000 000 In scientific notation this is 3 6628 x10 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 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 exponent Use to make a negative exponent Type in the numbers 4 78 x 10 and 2 36 x 107 Keys Display Description 4 78 wE 13 4 78Ei3 Pressing E starts the exponent CLR DATA 6 BB Clears number 2 36 wm EE Pressing before an 15 2 36E 15 exponent makes it negative 2 36E 15 Pressing makes the entire number negative aw CLR DATA Clears number 2 Arithmetic 47 File name English M02 1 040308 Print doc Print data 2004 3 9 Range of Numbers The largest positive and nega
65. 2 88 Stores rating HEH HEH 29 156 66 Calculates new salary The Summation Function gt The function does summation calculations in an equation E counter variable starting 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 function returns the final summation For example when the equation SERIES Eci i 6 i ixxe Ls is solved for SERIES the counter runs from 1 through 6 in steps of one that is 1 2 3 4 5 6 For each value the expression Ixx T is 176 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 calculated and added to the sum Thus the stored value of X is used to calculate X 2X 3X 4X4 5X 6X The following equation uses a variable as the ending value O as the beginning value and a step size of 2 SERIES ECT LASTi2 iiIxx 13 If 8 is stored in LAST takes on values of O 2 4 6 and 8 Then the stored value of X will calculate 2X 4X4 6X 8X8 Accessing CFLO and SUM Lists from the Solver You can use a Solver equation to perform calculations other than those in the CFLO and SUM menus using data stored in CFLO and SUM lists The following Solver f
66. 2004 3 9 Typing Words and Characters the ALPHAbetic Menu The ALPHAbetic menu is automatically displayed when you need it to type letters and characters The ALPHA menu also includes characters not found on the keyboard m Uppercase letters E Space m Punctuation and special characters m Non English letters Alpha ABCDE FGHI JKLM NOPQ RSTUV WXYZ menu E Letters space OTHER V OTHER space lt gt 5 s aA N OTHER ea Re ee Characters AC ke ge 0 x x t To type a letter you need to press two keys for example A is produced by the keystrokes ABCDE A Each letter menu has an OTHER 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 fo the special character Use if necessary to make corrections If you need to do further editing refer to the next section Editing ALPHAbetic Text When you re satisfied that the equation is correct press to enter the equation into memory 30 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Characters fw MAIN SOLVE NEW NOP FP P WVYZ OTHER MORE Pe WZ Y ABCE D FYD IJKLM L Pe OxLx HYZ u ele PeYOxLeW 9 ABCOE C MOa O PeYDxLxH 9 C0
67. 23 7 TIMES 23 i FLOW S3 7 HP HUS HFM HEED ix 2 8 67 HPV 654 136 81 HPV 654 136 51 FLOW S3 7 FLOW CB 3 7 FLOW ia FLOW C23 7 new one Stores initial cash flow FLOW O Stores FLOW 1 as zero since the flow amount is positive Stores 5 for TIMES 1 Stores FLOW 2 Stores FLOW 2 5 times You can skip FLOW 3 and FLOW 4 because they are equal to zero for this part Stores monthly safe interest rate Calculates NPV of negative cash flows Stores NPV in register O Returns to CFLO menu Clears list Stores zero as FLOW 0 Skip negative flows store positive flows Stores FLOW 1 5 times Stores zero for FLOW 2 14 Additional Examples 211 File name English M02 1 040308 Print doc Print data 2004 3 9 5 INPUT O INPUT 9 INPUT 200000 INPUT EXIT CALC 13 B12 Ix HFM STO 1 fan MAIN TM 20 H RCL O RCL 1 O PMT TAR FIH OTHER w CLR DATA EXIT Pu Fil FLOW 33 7 FLOW 4157 FLOW S3 7 HPV HUS HFu HEED ix IX 1 65 HFV 866 582 75 HFV 866 582 75 iz PYR EHO MODE H 26 68 PY 654 136 81 FV 866 582 75 FMT 6 BG I YE i2 18 212 14 Additional Examples 5 times Stores zero for FLOW 3 9 times Stores FLOW 4 1 time Stores monthly reinvestment rate Calculates NFV of positive cash flows Stores NFV in register 1 Switches to TVM menu sets 12 periods per year with End m
68. 4 3 9 a VW od 15 47 646 87 Taxes at 15 of interest V ta Subtracts taxes from total YF B 339 994 39 FV to calculate after tax FV FV Fy 339 994 39 Stores after tax future value in FV 8 IXYR Calculates present value O PMT purchasing power of the Pay PYS 22 995 36 above after tax FV at 8 inflation rate Value of a Taxable Retirement Account See appendix F for RPN keystrokes for this example This problem uses the TVM menu to calculate the future value of a taxable retirement account that receives regular annual payments beginning today Begin mode The annual tax 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 x 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 year for 35 years with dividends taxed as ordinary income how much will you have in the account at retirement Assume an annual dividend 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 208 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Display Description F
69. 40308 Print doc Print data 2004 3 9 Calculations Using Menus Using menus to do calculations is easy You don t have to remember in what order to enter numbers and in what order results come back Instead the menus guide you as in the previous example All the keys you need are together in the top row The menu keys both store numbers for the calculations and start the calculations The MU C menu can calculate M C the percent markup on cost given COST and PRICE Keys 4 60 FRICE Display PRICE 4 68 Store 4 60 Keys 4 10 COST Display cosT 4 1i68 Store 4 10 COST PRICE M C Calculator Memory Keys Mec Display HAR KUPNC 12 246 Calculate 12 20 Then the same menu can calculate PRICE given COST and M C Keys 20 ENEA Display MARKUPXC 20 88 Store 20 00 Keys 4 10 COST SecA ia Display COST 4 16 COST PRICE M C Calculator Keys PRICE Memory Display PRICE 4 92 Calculate 4 92 Notice that the two calculations use the same three variables each variable can be used both to store and calculate values These are called built in variables because they are permanently built into the calculator 1 Getting Started 27 File name English M02 1 040308 Print doc Print data 2004 3 9 Many menus in this calculator work like the example above The rules for using variables are m To store a value key in the number and press the menu key T Arithmetic calculations as we
70. 6 T 1 171 TIMES prompting 96 97 TOTL 49 51 TIME in appointment setting menu 145 in PRINTER menu 186 in SET menu 143 TABLE 78 TOTAL 51 of a SUM list 122 128 TYPE 109 TODAY 150 TRACE 186 TOTAL 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 188 TRN 171 Troubleshooting 222 24 True population standard deviation 128 Truncating function in Solver 171 Turning calculator on and off 17 TVM calculations 61 83 equation 247 instructions 66 67 menu 61 64 66 variables clearing 64 Index 307 File name English M02 1 040308 Print doc Print data 2004 3 9 Typing aids 167 statistical 128 Typing alphabetic characters Variables Solver 154 30 clearing 163 deleting 163 U names of 166 shared 162 ust 56 Variables shared 53 i 56 Verifying equations 157 58 Unacknowledged appointments Viewing lists See CFLO list 148 SUM list Solver list Unit conversions in the Solver 178 W Unknown variables in Solver 240 241 aes 132 WON 56 Warranty 233 34 Weighted mean 132 138 39 Up arrow key 43 USFV 171 246 USPV 171 246 v X 41 Values i clearing 28 29 See also 43 m CLR
71. 8 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 m f the current menu has a list SUM CFLO or Solver pressing few CLR DATA clears the values in the list To see what value is currently stored in a variable press menu label Solving Your Own Equations SOLVE This chapter has introduced some of the built in menus the calculator offers But if the solution to a problem is not built into hp 17bll you can turn to the most versatile feature of all the Equation Solver Here you define your own solution in terms of an equation The Solver then creates a menu to go with 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 calculate how much it will cost The price is quoted to you per square yard Regardless of how you do the calculation even if you do it longhand you are using an equation Price per 3 Length feet Width feet square yar N P YD lt xW COST Converts square feet to square yards To type this equation into the Solver use the ALPHA menu 1 Getting Started 29 File name English M02 1 040308 Print doc Print data
72. 8 108 108 110 9 114 114 116 116 118 119 10 121 122 123 123 124 126 126 127 127 127 128 130 133 138 139 140 11 141 141 Bonds The BOND Menu Doing Bond Calculations Depreciation The DEPRC Menu Doing Depreciation Calculations DB SOYD and SL Methods The ACRS Method Partial Year Depreciation Running Total and Statistics The SUM Menu Creating a SUM List Entering Numbers and Viewing the TOTAL Viewing and Correcting the List Copying a Number from a List to the Calculator Line Naming and Renaming a SUM List Starting or GETting Another List Clearing a SUM List and Its Name Doing Statistical Calculations CALC Calculations with One Variable Calculations with Two Variables FRCST Curve Fitting and Forecasting Weighted Mean and Grouped Standard Deviation Summation Statistics Doing Other Calculations with SUM Data Time Appointments and Date Arithmetic Viewing the Time and Date Contents 7 File name English M02 1 040308 Print doc Print data 2004 3 9 142 143 144 144 145 145 147 148 148 149 150 150 151 12 153 153 156 157 158 161 161 162 162 162 163 164 164 164 166 168 174 176 177 178 8 Contents The Time Menu Setting the Time and Date SET Changing the Time and Date Formats SET Adjusting the Clock Setting ADJST Appointments APPT Viewing or Setting an Appointment APT 1 APT 10 Acknowledging an Appointment Unacknowledged Appointments Clearing Appoi
73. CIENT MEMORY What should do A Assistance Batteries Memory and Service 223 File name English M02 1 040308 Print doc Print data 2004 3 9 a A Refer to Managing Calculator Memory on page 227 for instructions on how to reclaim memory for your use Q The calculator is operating slowly and the mm _ annunciator is blinking Why A The calculator is trace printing Press f PRINTER TRACE to turn off tracing Q How can change the sign of a number in a list without keying in the number again A Press RCL INPUT INPUT Q The beeper is not working A Check the beeper mode by pressing f MODES BEEP See also page 36 Q The messages and the menu labels in the display are not in English How do restore the English A Models of the hp 17bll 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 MODES INTL ENGL 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 batteries Low Power Indications When the low battery annunciator E comes on the calculator can continue normal operation for several hours If the calculator is turned off Continuous Memory will be preserved for approximately two weeks To conserve battery pow
74. DATA in RPN 269 recalling 28 45 46 XOR 174 storing 28 45 46 x values in forecasting transferring between menus 133 34 28 Variable Y dependent 134 independent 134 vios 109 Variables YRe 115 statistical 130 34 YEH 56 Variables RI 41 265 built in 27 Yield printing 187 308 Index File name English M02 1 040308 Print doc Print data 2004 3 9 of lease 74 75 y values in forecasting to call bonds 108 133 34 to maturity bond 108 y intercept in curve itting 132 Z 134 Zero coupon bond 113 Index 309 File name English M02 1 040308 Print doc Print data 2004 3 9 This regulation applies only to The Netherlands File name English M02 1 040308 Print doc Batteries are delivered with this product when empty do not throw them away but collect as small chemical waste Bij dit produkt zijn batterijen geleverd Wanneer deze leeg zijn moet u ze niet weggooien maar inleveren als KCA Print data 2004 3 9
75. Displays SET menu 4 052003 Sets date DATE SAT 4r B5763 time 4 07 TIME Sets time Press APM if AEP SAT necessary B4 B583 84 87 i yyxP Changing the Time and Date Formats SET Use the SET menu to change the time and date formats To switch between the 12 and 24 hour clocks press 1224 To switch between the month day year and day month year calendars press MD Adjusting the Clock Setting ADJST The ADJST menu adjusts the time setting forward or backward in increments of hours minutes or seconds 1 Press TIME ADIST 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 ignoring seconds pressing HR twice changes the time to 1 20 PM Then pressing IN three times changes the time to 1 17 PM 144 11 Time Appointments and Date Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 Appointments APPT You can record up to ten appointments each with an alarm An appointment can contain a message You can also create repeating appointments appointments that recur at regular intervals APPT APT APT2 gt MORE APTO APT10 lt for each appointment DATE TIME A PM MSG RPT HELP Viewing or Setting an Appointment APT1 APT10 Table 11 3 Menu Labels for Setting Appointments DATE Sets the appointment date TIME Sets the appointment time and automatically enters the current date if the existing
76. IF CAF AND ACHLS i 2xA 6 3xA 16 C Means If A is greater than 7 and is less than or equal to 15 then B 2xA 6 C Otherwise B 3 x A 10 C E VALUE FIRST IFCWOTCFIRST 63 i1 FIRST 2 Means If FIRST is not equal to O then VALUE FIRST 1 FIRST If FIRST 0 then VALUE FIRST E T H xIFCA 68 s0R B 8 A B AXBS Means If A or B but not both equals O then T Wx A B Otherwise T W x A x B In other words When A 0 and B 0 T Wx B When A 0 and B 0 T Wx A When A 0 and B 0 T 0 When A 0 and B 0 T Wx AxB 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 3 6 10 The Solver equation to calculate an employee s new salary is based on his or her rating and old salary What would be the new annual salary for an employee with a rating of 2 who currently earns 27 500 annually 12 The Equation Solver 175 File name English M02 1 040308 Print doc Print data 2004 3 9 Press SOLVE NEW then enter the equation MHEW OLO CitiFcR i 3 TF R 2 86 i39 5 To do the calculation Keys Display Description Stores verifies and CALC creates menu labels for the equation 27500 oLD OLO 2r 566 66 Stores old salary 2 R R
77. IN TuM Displays TVYM menu OTHER PYR Sets 1 payment per year BEG i PYR BEGINMODE and Begin mode 35 H H 35 68 Stores years until retirement y 8 175 28 5 15 2 29 Calculates and stores InvR TavR 5 89 interest rate diminished by tax rate O PM PU 8 08 Stores no present value 3000 PMT pyT 3 880 06 Stores annual payment Fil FW 345 585 61 Calculates future value 8 IxvR Calculates present value O PMT purchasing power of the Pl PS 23 368 11 above FV at 8 inflation Modified Internal Rate of Return When there is more than one sign change positive to negative or negative 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 when your cashflow situation has multiple sign changes The procedure eliminates the sign change problem by utilizing reinvestment and borrowing rates that you specify Negative cash flows are discounted at a safe rate that reflects the return on an investment in 14 Additional Examples 209 File name English M02 1 040308 Print doc Print data 2004 3 9 a liquid account The figure generally used is a short term security T bill or bank passbook rate Posi
78. N 276 odd period 195 196 97 Arithmetic 21 22 38 in registers and variables 46 in RPN 264 67 270 in RPN stack 270 RPN examples 275 Print data 2004 3 9 Arithmetic priority 154 Arrow keys for changing current equation 156 for editing 32 for finding an equation 162 for rolling the history stack 43 for viewing long equations 166 E 56 E 132 EAL 78 BEG 64 BASIS 115 BAHT 56 Backspace key 20 Balance of loan 80 81 Balloon payment 69 71 Batteries changing 225 26 Battery life 224 annunciator 224 Beeper 147 Beeper on and off 36 Begin payment 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 variables clearing 50 Buy option for a lease 75 77 Bvalue in curve fitting 132 C CHG menu 50 CALC in CFLO menu 92 in SOLVE menu 157 in SUM menu 122 in TIME menu 142 CPH 109 CALL 109 CORR 132 c sT0 55 C REL 55 CURRI 56 Index 291 File name English M02 1 040308 Print doc Print data 2004 3 9 CURR2 56 COST key 53 CAMS Czt 56 im CLRDATA 20 28 29 cR 17
79. OMPOUNDING EFFa 6 88 Stores number of compounding periods per year for bank 1 Stores nominal annual interest rate for bank 1 Calculates effective interest rate for bank 1 Stores number of compounding periods per year for bank 2 Stores nominal annual interest rate for bank 2 Calculates effective interest rate for bank 2 Displays 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 occur at the same time as the bank s compounding periods If they are not the same you can adjust the interest rate using the ICNV menu and then use the adjusted 6 Interest Rate Conversions 87 File name English M02 1 040308 Print doc Print data 2004 3 9 a interest rate in the TVM menu You can also use TVM if PMT O regardless of the compounding periods 1 Call up the periodic interest rate conversion menu FIN ICW PER Calculate the effective annual interest rate from the nominal annual interest rate given by the bank a Store annual interest rate in M rs b Store number of compounding periods per year in F c Press EFF Calculate the nom
80. R 12 End mode 35 36 PMT 5 Time Value of Money 67 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Display Description FIN TM Displays TVM menu aw CLR DATA i2 PYR EHO MODE Clears history stack and TVM variables OTHER If needed sets 12 CLR DATA payment periods per year i2P YR EHO MODE End mode V3 12 Figures and stores number H H 36 48 of payments 10 5 Ik R TayvR i8 56 Stores annual interest rate 7250 1500 Stores amount of the loan T PY 5 750 60 PMT PMT i86 89 Calculates payment Negative value means money to be paid out To calculate the interest rate that reduces the payment by 10 add 10 to reduce the negative PMT value y 10 PHT PMT i76 89 Stores the reduced payment amount m m 7a Il mn J an Ink 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 interest rates are currently 11 5 If you take out a 30 year mortgage what is the maximum purchase price you can afford 68 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 PV FV 0 I YR 11 5 N 30 X12 P YR 12 End mode 359 360 PMT 630 Keys Display Description FIN TuM Display TVM menu m CLR DATA i2 PeYR EHD MODE Clears history sta
81. RINTER LIST STK REGS TIME MSG TRACE The PRINTER menu provides the ability to print most of the information you ve stored including the contents of variables lists appointments the history stack registers and the current date and time You can also transmit descriptive notes to label the output To print amortization schedules see Printing an Amortization Table page 82 From within any menu you can press ag PRINTER to bring up the PRINTER menu This table summarizes those printing activities Table 13 1 The PRINTER Menu Labels LIST Prints data stored or calculated in the current menu See Printing Variables and Lists below STK Prints the contents of the history stack REGS Prints the contents of registers O through 9 TIME Prints the current date and time MSG Displays the ALPHA menu for typing a message up to 22 characters long See page 188 TRACE Switches between Trace On and Trace Off modes See Trace Printing page 188 Upon completion all of these functions except TRACE return the previous menu to the display Printing Variables Lists and Appointments LIST You can list specific sets of information stored in menus by pressing few PRINTER LIST while the relevant menu labels are displayed 186 13 Printing File name English M02 1 040308 Print doc Print data 2004 3 9 Printing the Values Stored in Variables You can print a listing giving the values of all variables who
82. Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 Deleting Numbers from a List Pressing DELET deletes the current item Example Updating a Checkbook On May 31 your checking account balance was 267 82 The transactions for the first 10 days in June are Date Transaction Amount Date Transaction Amount Balance Check Deposit Check Check Deposit Check Update the checkbook by calculating the running balance Keys Display Description SuM fw CLRDATA YES ITEMC1 Displays empty SUM list 267 82 INPUT ITEMC23 7 Enters beginning balance TOTAL 267 82 and shows running total 837 42 INPUT ITEM a3 Enters deposit on 6 1 TOTAL 1 185 24 368 23 t4 Enters remaining transactions 45 36 128 90 65 35 If you want to preserve the current list skip the next step pressing i CR DAA Instead name the list and then press GET HEH 10 Running Total and Statistics 125 File name English M02 1 040308 Print doc Print data 2004 3 9 a 55 67 ITEM 81 7 OTAL 353 67 ITEMC9 7 Ends list and displays SUM menu again l Copying a Number from a List to the Calculator Line To copy a number from the list into the calculator line use or A to display the number then press CINPUT Naming and Renaming a SUM List A new list has no name You may name it before or after filling the list but you must name it in order to store another list To
83. S function considers only those values in the part of the equation that it is solving How the Solver Works The Solver has two ways of finding an answer First it tries to find a direct solution by rearranging the equation and then solving for the variable If the Solver finds a direct solution the calculator displays the result If the Solver is unable to find a direct solution it tries to find the answer indirectly by iteration lt 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 equation and that it might be necessary for you to enter guesses to influence which solution the Solver finds If the displayed estimates don t appear to be proceeding towards a number you judge to be a reasonable answer you can stop this iterative process enter your own guesses and restart the search See Halting and Restarting the Iterative Search and Entering Guesses below 12 The Equation Solver 179 File name English M02 1 040308 Print doc Print data 2004 3 9 The process of finding a solution iteratively is very complex There are four possible outcomes Refer to Solver Calculations in appendix B for additional descriptions of these outcomes E Case 1 The calculator displays a result It is very lik
84. Stores interest rate Stores no present value Stores annual payment Calculates future value Calculates present value purchasing power of the above FV at 8 inflation File name English M02 1 040308 Print doc Print data 2004 3 9 Error Messages The calculator beeps and displays an error message under certain circumstances for example when you attempt an operation that is not allowed The calculator distinguishes between math errors that occur on the calculator line and other types of messages by preceding math error messages with the word ERROR Press or to erase the message and restore the previous display BAD GUESSES PRESS COLRI TO VIEW The Solver cannot begin a numerical search using the initial estimates See pages 180 and 239 BATT TOO LOW TO PRINT To conserve battery power the calculator will not transmit data to the printer until fresh batteries have been installed CURRENT LIST UNMHAMED HAME OR CLEAR THELIST Attempted to get another list without first clearing or naming the current list Press f CLR DATA to clear itor HAME to name it EMPTY LIST Attempted a calculation using an empty CFLO or SUM list ERROR LOGARITHMCHEG ERROR LOGARITHM 8 gt Error Messages 283 File name English M02 1 040308 Print doc Print data 2004 3 9 Attempted to take the base 10 or natural log of a negative number or zero This can happen during curve fitting calculations if you attempt to calculate
85. UM menu keys Clears current list Stores minutes of advertising x values into a SUM list Names this list See page 30 to use the ALPHA menu Gets a new empty list Stores weekly sales y values into a second SUM list Names y list Identifies the lists for curve fitting File name English M02 1 040308 Print doc Print data 2004 3 9 MIHU SELECT Y VARIABLE Selects MINUTES as x list SALES LIHEAR SALES as y list indicates current curvefitting model and displays FRCST menu CORR CORR 6 96 Correlation coefficient for linear model The correlation coefficient calculated above is acceptable to BJ s Using the linear model estimate what the level of sales would be if the business purchased 7 minutes of advertising time per week 7 MIHU MIMUTES 7 a8 Stores 7 in variable MINUTES SALES SALES 3 357 38 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 SALES The business should buy MIHU MIHUTES 6 i6 about 6 minutes of advertising for sales of 3 000 t If the model named here is not the one you want to use press MORE MODL and select the one you want T This result is not the same as it would be if SALES were the independent x variable and MINUTES were the dependent y variable 10 Running Total and Statistics 137 File name English M02 1 040308 Print doc P
86. UT the evaluated expression or number is entered into the list 7 Cash Flow Calculations 95 File name English M02 1 040308 Print doc Print data 2004 3 9 been automatically set to 1 and 1 Bg is displayed on the calculator line Do either a or b a To retain the value 1 and go on to the next flow press or b To change TIMES key in the number and press INPUT Given TIMES TINESCL 1 RN Calculator line 7 Continue entering each cash flow and for grouped flows the number of times it occurs The calculator recognizes the end of the list when a flow is left blank no value is entered 8 Press to end the list and restore the CFLO menu You can now proceed 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 TIMES 12 1 it is prompting you for the number of times the current flow occurs If all your cash flows are different 4TIMES always 1 then you don t need the TIMES prompt You can turn the prompting for TIMES on and off by pressing 1 in the CFLO menu This produces a brief message either TIMES PROMPTING OFF o TIMES PROMPTIWG OW While prompting is off all cash flows you enter will have TIMES 1 When you are viewing a cash flow list with the TIMES prompting off the calculator displays only those TIMES values that are not 1
87. a 2004 3 9 To select RPPN mode press f MODES FFH To Calculate Press Display 1243 12 ENTER 3 E 15 88 12 3 12 ENTER 3 J 2 66 12x 3 12 ENTER 3 x 36 46 12 3 12 ENTER 3 5 4 66 122 12 w 144 66 v12 12 Ex 3 46 1 12 12 lie 8 88 You do not need to use before an operator only between keyed in numbers Key in both numbers separated by ENTER before pressing the operator key The Power Function Exponentiation The power function uses the mO keys To Calculate Press Display 123 12 ENTER 3 mO i 728 06 12 3 cube root 12 3 lx wO a2 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 27 54 00 200 less 27 200 27 BIE 146 06 12 greater than 25 25 12 28 06 Compare these keystrokes in RPN and ALG modes D RPN Summary 265 File name English M02 1 040308 Print doc Print data 2004 3 9 RPN Mode ALG Mode 27 of 200 200 27 200 27 200 less 27 200 27 E 200 27 Calculations with STO and RCL The store STO and recall RCL operations work identically in ALG and RPN modes see Storing and Recalling Numbers and Doing Arithmetic Inside Registers and Variables in chapter 2 The keystrokes are the same for simple storing and recalling and for doing arithmetic inside registers and variables When doing arithme
88. abel MORE to switch between sets of menu labels Calculator line Solver menu To test whether your equation is in fact correct test it out by entering some values for which you already know the result and see if the Solver s result is correct To do a calculation using a Solver menu 158 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 1 Store values in all but one of the variables for example 2000 OLD etc Remember that you can verify stored values by pressing menu label 2 To start the calculation press the menu key for the variable you want to calculate In most cases this is all you need to know about how the Solver works However certain types of equations are more difficult to solve If during the calculation the display temporarily shows two lines of changing numbers such as A A i SERRE EES i iz34r6i29834 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 Operating income Interest Taxes ROE Perong 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 using 500 of common equity and 1 500 of debt The firm paid no taxes Operating income assets x percentage earnings on assets
89. algebraically to solve for COST COST is the unknown COST PRICE PROFIT Answers calculated this way are called direct solutions 240 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 For certain equations the unknown can be isolated but an answer cannot be calculated with the values stored Then the calculator displays SOLUTION HOT FOUNO For example if you enter an equation AREA LxW and then enter values for AREA and W the Solver rearranges the equation to L AREA W in order to calculate L However if you enter the value zero for W the Solver cannot find an answer because division by zero is not allowed The Solver can isolate the unknown variable if the equation meets these conditions m The unknown variable occurs only once in the equation m The only functions in which the unknown variable appears are ALOG DATE DDAYS actual calendar only EXP EXPM1 IF in then and else clauses only INV LN LNP1 LOG S SQ and SQRT m 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 4toA dand calculates the answer 2 F m The unknown variable does not appear
90. an 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 the Solver in chapter 12 140 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 11 Time Appointments and Date Arithmetic The calculator contains a clock and calendar in the TIME menu You can select a 12 hour or 24 hour clock and a month day year or day month year calendar You can E Record appointments that set alarms with optional messages m Determine the day of the week for a particular date m 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 TIME in the MAIN menu If you overwrite the time and date you can restore them to the display by pressing CLR 11 Time Appointments and Date Arithmetic 141 File name English M02 1 040308 Print doc Print data 2004 3 9 The TIME Menu FIN BUS SUM TIME SOLVE CURRX CALC APPT ADJST SET APTI APT2 e APT10 Table 11 1 The TIME Menu Labels 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 c
91. andard 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 true population standard deviation can be computed by calculating the mean of the original list placing that value into the list and then calculating the standard deviation Example Mean Median and Standard Deviation Suppose your shop had the following phone bills during the past six months 128 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 Phone Month Phone Month Expense Expense 4 August 5 September 6 October Calculate the mean median and standard deviation of the monthly phone bills Then display the smallest value in the list Keys Display Description SUM Displays current SUM list and SUM menu keys Clears current list or gets a YES new one or GET HEL ITEMCis 7 340 INPUT ITEM S gt Stores May s phone bill TOTAL 246 66 shows total 175 INPUT ITENC 335 Stores June updates total TOTAL 315 68 450 INPUT Stores phone bills for 780 INPUT July October and keeps a 245 CINPUT running total 625 INPUT ITEM Ya 7 TOTAL 2 615 68 CALC 2615 66 Displays CALC menu MERAH MEAN 435 83 Calculates mean MEDH MEDIAH 395 66 Calculates median STDEW STOEVS231 55 Calculates
92. aring One Number Clearing the X register puts 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 E Press E Press CLR For example if you wanted to enter 1 and 3 but mistakenly entered 1 and 2 these keystrokes would correct it ENTER Clearing the Entire Stack Pressing CLR DATA clears the X register to zero and eliminates the Y Z and T registers reducing the size of the stack to one register The stack expands again when you enter more numbers 272 E RPN The Stack File name English M02 1 040308 Print doc Print data 2004 3 9 lt lt N 7 Because of the automatic movement of the stack it is not necessary to clear the stack before starting a calculation Note that if an application menu is currently displayed pressing g CLRDATA also clears the application s variables The LAST X Register Retrieving Numbers from LAST X The LAST X register is a companion to the stack It stores the number that had been in the X register just before the last numeric operation such as a operation Pressing f LAST returns this value to the X register This ability to recall the last x value has two main uses m Correcting errors retrieving a number that was in the X register just before an incorrect calculation E Reusing a number in a calculation Reusing Numbers You can use g LAST to reuse a number such a
93. as an exponent Exceptions 1 Occurrences of the unknown variable as the argument of the S function are ignored 2 The unknown variable can appear twice within an IF function once in the then clause and once in the else clause T The Solver s ability to find a solution iteratively can often be enhanced by rewriting the equation so that the unknown variable does not appear as a divisor For example the Solver may more easily solve for A if the equation 1 A 2 A B is rewritten as A 2 A xB 1 B More About Calculations 241 File name English M02 1 040308 Print doc Print data 2004 3 9 lterative Solutions If the Solver is not able to isolate the unknown variable it cannot provide a direct solution In these cases the Solver searches iteratively for a solution In its iterative search for a solution the Solver looks for a value that sets the left side of the equation equal to the right side To do this the Solver starts with two initial estimates of the answer which we ll call estimate 1 and estimate 2 Using estimate 1 the Solver calculates values for the left and right side of the equation LEFT and RIGHT and calculates LEFT minus RIGHT LEFT RIGHT Then the Solver does the same calculations for estimate 2 If neither estimate produces a value of zero for 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
94. ation 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 PMT loan x 12 12 mos When calculating the I YR the FV a balloon payment is the entire loan amount or 1 000 000 while the PV is the loan amount minus the points F RPN Selected Examples 277 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys FIH TYH OTHER aw CLR DATA 10 wt H 1000000 ENTER 12 12 PHT 1000000 FV 3 0 O Eg Pu TAR Display iz PYR EHD HODE H i26 66 iz6 668 668 PMT i16 666 668 FV i1 668 668 668 PU 976 666 66 ISYR 12 53 Description If necessary sets 12 payments per year and End mode Stores total number of payments Calculates annual interest on 1 000 000 Calculates then stores monthly payment Stores entire loan amount as balloon payment Calculates then stores amount borrowed total points Calculates APR the yield 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 figures 14 1 and 14 2 chapte
95. ator is off Do not press again until the entire procedure for changing batteries is completed Changing batteries with the calculator on can erase the contents of Continuous Memory If you have set any appointments make sure they will not come due while the batteries are out 3 Turn the calculator over and prize off the battery cover A Assistance Batteries Memory and Service 225 File name English M02 1 040308 Print doc Print data 2004 3 9 4 Never remove two old batteries at the same time in case memory lost Remove one of the two batteries once Insert a new battery making sure that the positive sign is facing outward The batteries can burst or explode releasing hazardous chemicals Warning Do not mutilate puncture or dispose of batteries in fire 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 press a coin against both battery contacts in the calculator for a few seconds Put the batteries back in and turn the calculator on You should see SELECT LANGUAGE 226 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Pr
96. axable Retirement Account RPN example on page 282 Insurance Policy Interest Rate Conversions Converting from a Nominal to an Effective Interest Rate Balance of a Savings Account Cash Flow Calculations Entering Cash Flows Calculating IRR and NPV of an Investment An Investment with Grouped Cash Flows An Investment with Quarterly Returns Modified IRR 14 List of Examples File name English M02 1 040308 Print doc Print data 2004 3 9 111 112 113 215 217 117 118 120 125 128 134 138 218 220 144 148 151 152 159 166 172 175 181 189 Bonds and Notes Price and Yield of a Bond A Bond with a Call Feature A Zero Coupon Bond Yield to Maturity and Yield to Call Price and Yield of a Discounted Note Depreciation Declining Balance Depreciation ACRS Deductions Partial Year Depreciation Running Total and Statistical Calculations Updating a Checkbook Mean Median and Standard Deviation Curve Fitting Weighted Mean A Moving Average in Manufacturing Expected Throws of a Die 7 Time Alarms and Date Arithmetic Setting the Date and Time Clearing and Setting an Appointment Calculating the Number of Days between Two Dates Determining a Future Date How to Use the Equation Solver Return on Equity Sales Forecasts Using a Solver Function USPV Nested IF Functions Using Guesses to Find a Solution lteratively Printing Trace Printing an Arithmetic Calculation List of Examples 15
97. by HP c unauthorized modification or misuse d operation outside of the published environmental specifications for the product or e improper site preparation or maintenance HP MAKES NO OTHER EXPRESS WARRANTY OR CONDITION WHETHER WRITTEN OR ORAL TO THE EXTENT ALLOWED BY LOCAL LAW ANY IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY SATISFACTORY QUALITY OR FITNESS FOR A PARTICULAR PURPOSE IS LIMITED TO THE DURATION OF THE EXPRESS WARRANTY SET FORTH ABOVE Some countries states or provinces do not allow limitations on the duration of an implied warranty so the above limitation or A Assistance Batteries Memory and Service 233 File name English M02 1 040308 Print doc Print data 2004 3 9 exclusion might not apply to you This warranty gives you specific legal rights and you might also have other rights that vary from country to country state to state or province to province 7 TO THE EXTENT ALLOWED BY LOCAL LAW THE REMEDIES IN THIS WARRANTY STATEMENT ARE YOUR SOLE AND EXCLUSIVE REMEDIES EXCEPT AS INDICATED ABOVE IN NO EVENT WILL HP OR ITS SUPPLIERS BE LIABLE FOR LOSS OF DATA OR FOR DIRECT SPECIAL INCIDENTAL CONSEQUENTIAL INCLUDING LOST PROFIT OR DATA OR OTHER DAMAGE WHETHER BASED IN CONTRACT TORT OR OTHERWISE Some countries States or provinces do not allow the exclusion or limitation of incidental or consequential damages so the above limitation or exclusion may not apply to you 8 The only warranties
98. calculating T This takes care of all three variables so there is no need to use to remove old data Keys Display Description BUS XTOTL Displays TOTL menu 67584 TOTAL TOTAL 67 584 86 Stores 67 584 in TOTAL 23457 PART PART 23 457 468 Stores 23 457 in PART T aTOTAL 34 7i Calculates percent of total 3 Percentage Calculations in Business 51 File name English M02 1 040308 Print doc Print data 2004 3 9 Markup as a Percent of Cost MU C Example The standard markup on costume jewelry at Balkis s Boutique is 60 The boutique just received a shipment of chokers costing 19 00 each What is the retail price per choker Keys Display BUS MURE 19 COST COST i9 66 60O MxC MAREUPAC 668 668 PRICE PRICE 38 46 Description Displays MU C menu Stores cost in COST Stores 60 in 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 BUS MUKP vV 225 4 COST COST 216 68 300 PRICE PRICE 368 46 MAP MAREUPAPH25 BG Use 225 for COST and leave PRICE alone 225 COST COST 225 4668 MAP MAREUPSPH25 06 Description Displays MU P menu Calculates and stores net cost in COST Stores 300 in PRICE Calculates ma
99. can use either RPN or algebraic logic for calculations you choose which HP s RPN operating logic is based on an unambiguous parentheses free mathematical logic known as Polish Notation developed by the Polish logician Jan tukasiewicz 1878 1956 While conventional algebraic notation places the operators between the relevant numbers or variables tukasiewicz 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 About RPN on the hp 17bll This appendix replaces much of chapter 2 Arithmetic It assumes that you already understand calculator operation as covered in chapter 1 Getting Started Only those features unique to RPN mode are summarized here m RPN mode m RPN functions m m RPN arithmetic including percentages and and arithmetic D RPN Summary 261 File name English M02 1 040308 Print doc Print data 2004 3 9 All other operations including the Solver work the same in RPN and ALG modes The Solver uses algebraic logic only For more information about how RPN works see appendix E RPN The Stack For RPN keystrokes of selected examples from chapter 14 see appendix F RPN Selected Examples
100. cide with the compounding periods 12 payments or periods Payment mode the per ve end of each period 12 FYR END MODE EM Teor PY PHT FY To second level of TVM Figure 5 1 The First Level of TVM The first level of the TVYM menu has five menu labels for variables plus OTHER The OTHER key accesses a second level menu used to specify payment conditions the payment mode and to call up the AMRT amortization menu l2 PYR EHD MODE Pi i BEG END AMAT Figure 5 2 The Second Level of TVM For situations where the amount of the payment varies use the CFLO cash flows menu 62 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 Table 5 1 TVM Menu Labels Menu Label Description First Level H Stores or calculates the total number of payments or compounding periods t For a 30 year loan with monthly payments N 12 x 30 360 Shortcut for N Multiplies the number in the display by P YR and stores the result in N If P YR were 12 then 30 4 would set N 360 LYR Stores or calculates the nominal annual interest rate as a percentage Pu Stores or calculates the present value an initial cash flow or a discounted value of a series of future cash flows PMTs FV To a lender or borrower PV is the amount of the loan to an investor PV is the initial investment If PV paid out it is negative PV always occurs at the beginning of the first
101. cient a number between 1 and 1 that measures how closely the x y data points match the calculated curve Hn Calculates M For the linear model this is the slope Calculates B For the linear model this is the y intercept MORE MODL Displays a choice of the four curve fitting models LIN LOG EXP and PHR HMH Calculates the weighted mean of the xvalues using the weights in the y list GSD Calculates the standard deviation of a set of x values grouped by frequencies specified in the y list SIZE The number of items in either list MORE x Sum of items in xlist zy Sum of items in y list EM Sum of squares of items in xlist EV2 Sum of squares of items in y list ZHY Sum of products of items in x and y lists For the non linear models the calculation uses the transformed data values 132 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 Curve Fitting and Forecasting Curve fitting is a statistical method for finding a relationship between two variables x and y Based on this relationship you can estimate new values of y based on a given x value and vice versa Each SUM list holds the numbers data values for one variable You can select one of four curve fitting models Linear Curve Fit Exponential Curve Fit LIN y B Mx y Be Logarithmic Curve Fit Power Curve Fit y Y y B M Inx y Bx The exponential logarithmic and p
102. ck and TVM variables OTHER CLR DATA If needed sets 12 payment i2 FYR END MODE periods per year End mode 30 a H H 368 66 Pressing f first multiplies 30 by 12 then stores this number of payments in N 11 5 TYR IxYR ii 56 Stores annual interest rate 630 Stores a negative monthly PMT PMT 638 66 payment Pu FPY 63 6i 64 Calculates loan amount VY 12000 E 75 617 64 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 be the size of your balloon payment 5 Time Value of Money 69 File name English M02 1 040308 Print doc Print data 2004 3 9 PV 75 250 I YR 13 8 N 4X 12 P YR 12 End mode 47 Balloon FV PMT The problem is done in two steps 1 Calculate the monthly payment without the balloon FV 0 2 Calculate the balloon payment after 4 years Keys Display Description FIH TuM Display TVM menu CLR DATA iZ PYR END MODE Clears history stack and TVM variables OTHER CLR DATA If needed sets 12 payment i2 PYR EHO MODE periods per year End mode Step 1 Calculate PMT for the mortgage 250 H H 366 66 Figures and stores the number of monthly payments in 25 years 13 8 TYR TnYR i3 86 Stores annual inter
103. d 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 Reset hole Resetting the calculator halts the current calculation clears the calculator line and displays the MAIN menu Stored data remains intact except setting those conditions double space printing off printer tracing off printer without the ac adapter and beeper on 228 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data 2004 3 9 Erasing Continuous Memory Erasing Continuous Memory is a way of freeing a large amount of memory so that you can use it for other things In addition the calculator is set to certain default settings m Clears the calculator line and history stack m Deletes all Solver equations and their variables and clears all other variables in menus m Clears all CFLO and SUM lists and their names m Clears all appointments m Returns U S Dollars and EURO Dollars currencies and the rate equals 1 0000 Em Sets those conditions For English language Month 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
104. d 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 CALC Creates menu 36 4H N 36 AA 36 payment periods 4500 PM PU 4 500 BG Stores loan amount V15 12 Stores periodic monthly You do not need to specify Begin or End mode If the number of days until the first payment is less than 30 Begin mode is assumed If the number of days until the first payment is between 30 and 59 inclusive End mode is assumed 196 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 IX Ix 1 25 interest rate 46 DRYS DAYS 46 68 Stores days until first payment O FY FV 68 88 No balloon payment PHT PMT 1i57 83 Calculates payment Example Loan with an Odd First Period Plus Balloon A 10 000 loan has 24 monthly payments of 400 plus a balloon payment of 3 000 at the end of the 24th month If the payments begin in 8 days what annual interest rate is being charged Select equation ODD Keys Display Description Creates menu 10000 Fu PY i6 666 66 Stores known values 24 H H 24 48 400 PHT PMT 406 66 3000 Fu 8 DAYS FvV 3 666 66 DAYS 8 66 I Ia i 64 Calculates periodic monthly interest rate Yv W12 amp 19 67 Annual interest rate Canadian Mortgages In Canadian mortgages the compounding and payment periods are not
105. d the seller vB 55 23 Net price Suppose that the market quote for the bond is 8814 What yield does it represent 88 25 PRICE PRICE 88 25 Stores quoted price LDX YL X 8 13 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 FIN BOND Displays BOND menu CLR DATA clears variables TYPE 366 Sets bond type if SEMI 36 366 SEMIANNUAL necessary To see the full precision of the number press SHOW 112 8 Bonds File name English M02 1 040308 Print doc Print data 2004 3 9 5 022003 SETT SETT Stores purchase date 8582 2883 FRI MM DDYYYY format 3 032022 MAT MAT 83 G3 2622 THU Stores maturity date 6 OPH CPHA 6 66 Stores annual coupon rate MORE Stores yield 5 7 LOX YLOX 5 76 PRICE PRICE i63 43 Calculates price MORE 3 032006 Changes maturity date MAT 102 75 to call date and stores CALL CALL 162 75 a call value MORE Yos YLDx 5 55 Calculates yield to call 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 D
106. data 2004 3 9 Regardless of how you do this calculation even if you do it longhand you are using an equation Next Forecast Old Forecast Change in Old Forecast Old Forecast Projected Percentage Changes xOld Forecast or NEXT OLD A B C 100 x OLD Using the SOLVE and ALPHAbetic menus you can type in this equation as HEAT OLO CAS BA C43 1868x0L0 and then automatically create this menu which contains all the variables labels by pressing ae 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 SOLVE NEW TYPE EQUATION Displays SOLVE menu CINPUTI then ALPHA menu NEXT OLD The equation is too long Because the Solver uses arithmetic priority x before a second set of parentheses before A and after the second OLD is not necessary See Order of Calculations page 165 154 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 WHOA IH B CA C ODO JE 100 x OLD D CAR BR C 9 188x0LD NEXT OLD CAXHEKHCH Y im EDIT T WD CARH BHC 188x0LD NEXT OLD CASt BA CH Sin for the display Enters equatio
107. de ENO 24 PR END MODE 15 a H H 3668 46 Figures and stores number of deposits in N 8 3 IkYR TayR 8 38 Stores annual interest rate 2000 Py P 2 866 68 Stores initial deposit 80 PHT PMT 56 66 Stores semimonthly payment Fy FYS 63 963 84 Calculates balance in IRA after 15 years 5 Time Value of Money 73 File name English M02 1 040308 Print doc Print data 2004 3 9 Leasing Calculations Two common leasing calculations are 1 finding the lease payment necessary to achieve a specified yield and 2 finding the present value capitalized value of a lease Leasing calculations typically use advance payments For the calculator this means Begin mode because all payments will be made at the beginning of the period If there are two payments in advance then one payment must be combined with the present value 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 view Use Begin payment mode because the first payment is due at the inception of the lease FV 7 500 PMT 35 36 I YR 14 N 36 P YR 12 Begin mode PV 13 500 Keys Display Description FIN TuM Di
108. decimal places but stores all three Calculates yield to maturity 14 Additional Examples 215 File name English M02 1 040308 Print doc Print data 2004 3 9 Second calculate the yield to call Keys Display Description MORE YLO2 3 66 Returns to first BOND menu 1 012006 Changes maturity date MAT MAT 81 81 2666 SUH tothe call date 110 CALL CALL 116 66 Stores call value MORE YLO YLOAS7 1 63 Calculates a yield to call Discounted Notes A note is a written agreement to pay to the buyer of the note a sum of money plus interest Notes do not have periodic coupons since alll interest is paid 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 HOTE PRICE RV COTSCekRVxDOARYS SETT MAT 13 3668 5 To find the yield given the price or to find the price given the yield HOTE VTELO RV PRICE PRICEx36688 DOAYS SETT MAT i3 PRICE the purchase price per 100 face value YIELD the yield as an annual percentage RV the redemption value per 100 DISC the discount rate as a percent SETT the settlement date in current date format MAT the maturity date in current date format 216 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 The f
109. deduction based on BASIS and ACRS The values in SALV LIFE FACT and YR do not matter MORE YR Stores the number of the year for which you want the depreciation 1 2 etc FACT Stores the declining balance factor as a percentage of the straightline rate This is for the DB method only For example for a rate 1 times 125 the straightline rate enter 125 DE Calculates the declining balance depreciation for the year sovo Calculates the sum of the years digits depreciation for the year SL Calculates the straight line depreciation for the year Y Displays the remaining depreciable value RDV after you have pressed DB SOYO or SL The calculator retains the values of the DEPRC variables until you clear them by pressing f CLR DATA while the DEPRC menu is displayed 9 Depreciation 115 File name English M02 1 040308 Print doc Print data 2004 3 9 To see the value currently stored in a variable press menu label Doing Depreciation Calculations DB SOYD and SL Methods To calculate the depreciation for an asset 1 Display the DEPRC menu press FIN ODEPRC 2 Define the characteristics of the asset a Key in the cost basis and press BASIS b Key in the salvage value and press SALW If there is no salvage value enter zero c Key in the useful life and press LIFE 3 Press MORE for the rest of the DEPRC menu 4 Key in the number for the year of depreciation you want to calcu
110. dit menu 1 Press EDIT to access the ALPHA Edit menu See Editing ALPHAbetic Text page 31 You can use backspace and clear as well 2 To insert letters press ALPHA and the appropriate letters Press to bring back the editing menu 3 Press 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 EXIT 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 EDIT FORE MEX T OLD CRA B 4 CALC EDIT DELET HEH Type the name just as you type the rest of the equation The calculator knows that whatever comes before the colon is not part of the equation The name is for your visual aid only the calculator cannot recognize it Names can be any length and contain any character except x lt gt space 12 The Equation Solver 161 File name English M02 1 040308 Print doc Print data 2004 3 9 Finding an Equation in the Solver List To display an entry in the Solver list display the SOLVE menu and move through the list using the 4 and F keys _l A moves to TOP OF LIST and Y moves to lt BOTTOM OF LIST Shared Variables If two or more equations contain the same variable that variable is shared among those equations For exa
111. e English M02 1 040308 Print doc Print data 2004 3 9 Ff Fr FA aH a D e O O e Q O O O O 0 0 0 0 0 0 0 0 0 0 I H H t t t O 1 2 144 156 168 180 i i Ss S wo aA A Taa A TAA amp pa oO 6S 06 2 d l 65 2 6 a A Sf amp 252 D SS f S amp S 2 3 de g Sa g 2X A x E Aoa Do i i N rs i a QO Q lt 3 Ss Ss Q Ss O Figure 14 1 Flow of Withdrawals I YR 9 00 NPV PV FV 0 2 3 178 179 180 NUS PMT Figure 14 2 Flow of Deposits Keys Display Description FIN Displays current cash flow CFLO list and CFLO menu keys fa CLRDATA YES Clears current list or gets a or new one GET HEM FLOW Bo 7 204 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 Step 1 Set up a CFLO list 0 FLOW 13 7 0 TIMESC19 1 12 126 1 g FLOW 23 7 15000 INPUT IIMES 2 i FLOWS Z3 7 0 TIMESC33 1 11 FLOW 43 7 15000 FLOWCS3 7 O 11 FLOHCE 15000 FLOWC73 7 O 11 FLOHCS 15000 FLOHCS 7 CALC HPVs MUS MEY HEED I Sets initial cash flow FLOW O to zero Stores zero in FLOW 1 and prompts for the number of times it occurs Stores 143 for 11 years 11 months in TIMES 1 for FLOW 1 Stores amount of first withdrawal at end of 12th year Stores cash flows of zero for the next 11 months Stores second withdrawal for sophomore year Stores cash flows of zero for the next 11
112. e BATT TOO LOW TO PRINT Since the hp 17bll cannot send control characters to the printer portions of the printer s manual pertaining to control codes and graphics characters do not apply 184 13 Printing File name English M02 1 040308 Print doc Print data 2004 3 9 The Printer s Power Source The speed of the printer depends on whether it is using its optional ac adapter To optimize printing performance set the printing speed mode in the calculator appropriately To view or change the printing speed mode 1 Press gg MODES 2 Press PRNT to change and display the new mode If necessary press FR T again to set the desired mode E PRIWHTER AC ADAPTER E PRINTER HO AC ADAPTER 3 Press EXIT 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 PRIHTER HO AC AORPTER so that the calculator will not transmit data too rapidly Double Space Printing Press MODES DBL to turn double space printing on or off Then press EXIT Printing the Display PRD To print whatever is in the calculator line press PRT This prints numbers expressions single Solver equations and messages Menus cannot be printed 13 Printing 185 File name English M02 1 040308 Print doc Print data 2004 3 9 Printing Other Information Ga PRINTER P
113. e a mistake use to backspace or to start over Or press to bring up the ALPHA Edit menu 3 Press to store the equation 4 Press CALC to verify that the equation is valid and to create its menu labels You now can proceed with your calculations When you press CALC the calculator displays WERIFYING EQUATION 12 The Equation Solver 157 File name English M02 1 040308 Print doc Print data 2004 3 9 while the Solver checks that the equation is mathematically valid However the Solver has no way of checking whether the equation is the right one for your problem If the equation cannot be solved the calculator briefly displays IHVALIO EQUATION and the cursor will blink at the first character that the Solver could not interpret It is possible that your mistake is somewhere else but this is a good place to start looking since this is where the Solver got stuck The ALPHA Edit menu appears so you can make changes Check to be sure 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 but it cannot be verified when you press CALC Calculating Using Solver Menus CALC If pressing CALC creates a Solver menu for your equation then the equation is good that is mathematically valid If the equation contains more than six variables the Solver uses the l
114. e 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 gg CLR DATA To clear all ten appointments display the APPT menu the menu with APT1 APTZ etc and press f CLR DATA YES Example Clearing and Setting an Appointment Today is Sunday April 20 2003 You want to set appointment 4 to go off every Tuesday at 2 15 p m to remind you of a staff meeting Assume 12 hour time format and month day year date format Keys Display Description TIME APPT Displays setting for 148 11 Time Appointments and Date Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 APT4 appointment 4 i CLA DATA 4 GB G0 80 12 08 Clears appt 4 2 15 TIME 4 SUH Stores appt time and B4 26 83 2 15 supplies current date RPM 4 SUH Sets appt time to PM B4 26 83 2 15P 4 22 DRTE 4 TUE Stores appt date B4 22 63 2 15P MSG Enters message staff STAFF 4 TUE B4 22 03 2 15P RPT RPT HONE Displays RPT menu 1 WEEK RPT 1 WEEK CS 2 Sets repeat interval 4 TUE B4 22 8S 2 15P SET 4 Returns to APPT menu Appt 4 is set Date Arithmetic CALC The CALC menu performs date arithmetic m Determines the day of the week for any date Em Determines the number of days between dates using one of three calendars actual 365 day or 360 day m Adds or subtracts days from a dat
115. e name English M02 1 040308 Print doc Print data 2004 3 9 Table 12 2 Solver Functions for Equations Function Description ABS x Absolute value of x ALOG x Common base 10 antilogarithm 10 CDATE Current date CTIME Current time DATE d1 n The date n days after when n is DDAYS d1 d2 cal EXP x EXPM1 x FACT x FLOW CFLO listname flow FP x G x positive or before when n is negative date d1 The format for d1 is set in the TIME SET menu Number of days between dates d1 and d2 Formats for d1 and d2 are set in the TIME menu cal designates the calendar E cal 1 for the actual calendar which recognizes leap years m cal 2 for the 365 day calendar which ignores leap years E cal 3 for the 360 da calendar which uses 1 30 day months Natural antilogarithm e e 1 xl factorial of a positive integer Value of the specified cash flow Fractional part of x Returns Get the value of the variable The variable will not appear in the SOLVE menu if it is only used in L and G functions See L function on page 170 12 The Equation Solver 169 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 12 2 Solver Functions for Equations Continued Function Description HMS time Converts time in decimal hours to HH MMSS format HRS time Converts time in HH MMSS format to decimal hours IDIV x y Integer part of the quotient of x y IF cond
116. e 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 E Net present value NPV net uniform series NUS and net future value NFV for a specified periodic interest rate 1 100 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 Table 7 2 The CALC Menu for CFLO Lists TOTAL Calculates the sum of the cash flows IRR Calculates the internal rate of return the interest discount rate at which the net present value of the cash flows equals zero Ix Stores the periodic interest rate expressed as a percentage sometimes called cost of capital discount rate or required rate of return MPM Given calculates the net present value the present value of a series of cash flows HUS Given 1 calculates the net uniform series the dollar amount of constant equal cash flows having a present value equivalent to the net present value HF Given 1 calculates the net future value of a series 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 indicat
117. e to determine a new date The calendar for date arithmetic runs from October 15 1582 to December 31 9999 To display the CALC menu press TIME then CALC 11 Time Appointments and Date Arithmetic 149 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 11 4 CALC Menu Labels for Date Arithmetic Menu Description Label DRTE1 Stores or calculates a date Also displays the day of DATED the week If you omit the year the calculator uses the current year DAY S Stores or calculates the number of actual days between DATE and DATE2 recognizing leap years 3660 Calculates the number of days between DATE and DATE2 using the 360 day calendar 30 day months 3650 Calculates the number of days between DATE and DATE2 using the 365 day calendar ignoring leap years TODAY 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 DATE DATE2 DAYS until you clear them by pressing gg CLR DATA while the CALC menu is displayed To see what value is currently stored in a variable press menu label Determining the Day of the Week for Any Date To find the day of the week for any date key in the date and press DATE or OATES Calculating the Number of Days between Dates To calculate the number of days between two dates 1 Key in the first date for today s date use TODAY and press DATE 150 11
118. ears current list or gets a YES new one The empty list or prompts for its initial cash GET NEW FLOW B flow 7 TIMES PROMPTING Briefly shows the status of OFF T7 then returns to the list With prompting off all cash flows are assumed to occur just once 102 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 80000 t4 5000 INPUT 4500 INPUT 5500 INPUT 4000 INPUT 115000 CALC TOTAL IFR 10 5 IX HPN HF FLOW Cia 7 56 066 BE FL H 2157 FLOW 33 7 FLOW 4157 FLOW S9 7 FLOW C63 7 IX i18 58 HPVH4 774 63 HFY 7 5865 95 Prompts for next cash flow Calculator line shows last number entered Stores 5 000 for FLOW 1 prompts for next flow Stores FLOW 2 Stores FLOW 3 Stores FLOW A4 Stores final cash flow and shows end of list Calculates sum of the cash flows Calculates internal rate of return 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 EXIT a 4 1000 CALC HP FLOW C63 7 Displays the bottom of the list FLOW 43 4 868 88 Moves to cash flow 4 FLOW S351153 B66 88 Changes cash flow 4 to HPVS2 762 43 1 000 Calculates new NPV 7 Cash Flow Calculations 103 File name English M02 1 040308 Print doc Print data 2004 3 9 Example An Investment with G
119. ed inside it This procedure is covered in Erasing Continuous Memory on page 229 Storing numbers in menus like TVM non Solver menus does not use any of your memory space 1 Getting Started 37 File name English M02 1 040308 Print doc Print data 2004 3 9 2 Arithmetic If you prefer RPN to algebraic logic please read appendix D before you read this chapter The V in the margin is a reminder that the example keystrokes are for ALG mode The Calculator Line The calculator line is the part of the display where numbers appear and calculations take place Sometimes this line includes labels for results such as TOTAL 124 66 Even in this case you can use the number V for a calculation For example pressing 2 would calculate 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 SELECT COMPOUNDING To see the number in the calculator line press which removes the message V Doing Calculations Simple calculating was introduced in chapter 1 page 21 Often longer calculations involve more than one operation These are called chain calculations because several operations are chained together To do a chain calculation you don t need to press after each operation but only at the very end 750 x 12 zg Youcan type either For instance to calculate
120. ed and therefore positive Step 1 Find the adjusted nominal interest rate Keys Display FIH ICH PER COMPOUNDING F TIMES YF 12 S P i2 66 10 HOM HOMA i16 68 EFF EFFa i8 47 4 F P 4 06 MOM HOMa 18 88 Step 2 Calculate the future values Keys Display TuM Description Displays periodic interest rate conversion menu Stores number of compounding periods Stores nominal interest rate Calculates effective interest rate Stores number of withdrawal periods Calculates adjusted nominal interest rate Description Switches to TVM menu 14 Additional Examples 201 File name English M02 1 040308 Print doc Print data 2004 3 9 STO IVF OTHER 4 PAR BEG 750000 PM 20000 PHT Fil 40 4H Fil 20 N Fil i gg ISVYR i18 68 4 FAYE BEGIH MODE PY 750 666 66 FHT 26 666 66 FW 641 824 41 H 26 68 FV 345 998 68 Clears message to show NOM value still in calculator line Stores adjusted nominal interest rate in 1 YR Sets 4 payments withdrawals per year and Begin mode Stores present initial value of fund Stores withdrawal amount Stores number of withdrawals in 1 year Value of fund at end of year Stores number of withdrawals over 10 years Calculates value of fund at end of year 10 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 appendi
121. ed as 7 ENTER 3 x 14 4 2 B 4 ey e 274 E RPN The Stack File name English M02 1 040308 Print doc Print data 2004 3 9 Exercises Here are some extra problems that you can do to practice using RPN Calculate 14 12 x 18 12 9 7 78 00 A Solution 14 12 18 2 ga 7 FB Calculate 23 13 x 9 412 14 A Solution 23 w 13 O 7 ws Calculate J 5 4x 0 8 12 5 0 7 0 60 A Solution 5 4 8 7 3 wl 12 5 E30 or 5 4 8 J 125 7 3 Oe Calculate _ 8 23 4 9 2 1 8 33 7 46 x 0 32 4 3x 3 15 2 75 1 71x2 01 A Solution 4 5 2 8 33 LAST 7 46 32 JE 3 15 2 75 BJ 4 3 1 71 2 01 HOG 4 57 E RPN The Stack 275 File name English M02 1 040308 Print doc Print data 2004 3 9 RPN Selected Examples The following examples selected from chapter 14 Additional Examples have been converted to RPN keystrokes These examples illustrate how to convert algebraic to RPN keystrokes in less common situations with with RCL and in a CFLO list Example Simple Interest at an Annual Rate Your good friend needs a loan to start her latest enterprise and has requested that you lend her 450 for 60 days You lend her the money at 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 Keys Display Description 450 7 31 568 Annual interest 60 3656 5 18 Actual interest
122. ed with a b c and d Now enter and add two new numbers 5 6 lt lt N Lift No lift Drop replicates the contents of the X register into the Y register The next number you key in or recall writes over instead of lifting the copy of the first number left in the X register The effect is simply to separate two sequentially entered numbers Using a Number Twice in a Row You can use the replicating feature of to other advantages To add a number to itself key in the number and press ENTER Filling the Stack with a Constant The replicating effect of ENTER together with the replicating effect from T into Z of stack drop allows you to fill the stack with a numeric constant for calculations Example Constant Cumulative Growth The annual sales of a small hardware company are projected to double each year for the next 3 years If the current sales are 84 000 what are the annual sales for each of the next 3 years 1 Fill the stack with the growth rate 2 ENTER ENTER ENTER 2 Key in the current sales in thousands 84 E RPN The Stack 271 File name English M02 1 040308 Print doc Print data 2004 3 9 3 Calculate future sales by pressing x for each of the next 3 years 2 2 l 2 ENTER 2 m 2 G84 amp L168 336 oO NPN PENS yt N m zZ m D BE Sales for the next 3 years are projected to be 168 000 336 000 and 672 000 Clearing Numbers Cle
123. eginning of each period Typical for savings plans and leasing The Begin and End modes do not matter if PMT 0 EHD Sets End mode payments occur at the end of each period Typical for loans and investments AMET Accesses the amortization menu See page 78 The calculator retains the values of the TVM variables until you clear them by pressing gy CLR DATA When you see the first level TVM menu pressing CLR DATA clears N YR PV PMT and FV When the second level menu OTHER is displayed pressing fw CLR DATA resets the payment conditions to i2 P YR END MODE To see what value is currently stored in a variable press 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 or payment periods Arrows show the occurrence of cash flows payments in or out Money received is a positive number arrow up and money paid out is a negative number arrow down a The correct sign positive or negative for TVM numbers is wa essential The calculations will make sense only if you Note consistently show payments out as negative and payments in 64 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 receipts as positive Perform a calculation from the point of view of either the lende
124. ely that this is a solution to the equation To check how good this result is you can repeat the calculation by pressing the menu key for the variable you solved for If the two sides of the equation have not been calculated to be exactly equal the calculator displays a message with the values for the left and right sides of the equation Read Solver Calculations in appendix B for an explanation of the meaning of this display E Case 2 The calculator displays a message with the calculated unequal values of the left and right sides of the equation The Solver has found a possible solution but you must interpret its validity To see the questionable solution press or CLR Refer to Solver Calculations in appendix B for more information E Case 3 The calculator displays BAD GUESSES PRESS CCLR1I TO VIEH The Solver cannot begin the search with the current guesses Press or to view the starting guesses To supply new guesses see Entering Guesses below E Case 4 The calculator displays SOLUTION HOT FOUND Check to see if your equation and stored values are correct If the equation is correct you might be able to find a solution by entering very good guesses Halting and Restarting the Iterative Search When the Solver is iteratively searching for a solution in other words when the Solver is displaying sets of estimates you can halt the calculation by pressing any key except The calculator displays the
125. er 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 46 values assigned to variables 28 Division 38 40 Doublespace printing 36 185 DSP menu 34 35 260 EJ key 47 ENO 64 EXP 42 EDIT 157 161 EURE 56 ENGL 18 ESPA 18 EFF key 88 EXIT 25 28 92 96 123 147 161 ENTER 263 264 65 271 274 E in numbers 47 Editing Index 295 File name English M02 1 040308 Print doc Print data 2004 3 9 alphabetic information erasing 163 31 32 for built in menus 246 53 equations 161 invalid 158 keys 31 32 length of 153 Effective interest rate 84 87 long viewing 166 100 naming 161 verifying 157 58 End payment mode 64 65 Ending value in summation function 176 English language setting 224 writing 164 Erasing See also Clearing Deleting Erasing calculator memory 225 Entering 229 equations 157 58 guesses in the Solver Error messages 36 283 181 83 Estimates entering in the Solver Entering numbers 181783 in a SUM list 123 24 Examples 190 in RPN 264 271 in RPN 276 82 into CFLO lists 95 97 Exchanging registers RPN 269 Environmental limits 230 EXP 169 Equals sign used to complete EXPM 169 calculations 21 38 Exponential model 130 132 Equation list See S
126. er printing does not function when the battery annunciator is on Printing might halt during a printing operation 224 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data 2004 3 9 due to a borderline low battery condition The calculator can detect that there is insufficient power for printing before the battery annunciator comes on If you continue to use the calculator after the battery annunciator comes on power can eventually drop to a level at which the calculator stops powering the display and keyboard The calculator will require fresh batteries before it can be turned back on When you turn the calculator on after fresh batteries have been installed the calculator returns to the previous display if your stored data is intact If data has been lost the calculator displays SELECT LANGUAGE Please see page 18 for information about the language setting After selecting a language the display will show MEMORY LOST 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 Hold batteries by the edges Do not touch the contacts Wipe each battery with a clean lint free cloth to remove dirt and oil 2 Make sure the calcul
127. er Functions for Equations Continued Function Description X cfr c 5 s expr SIZEC CFLO listname SIZES SUM listname SPFV i n SPPV i n SQ x SQRT x T CFLO listname flow TRN x y USFV i n USPV i n Summation of the algebraic expression expr for values of the counter ctr stepping from c to c at increments of s See page 176 The number of the last flow in specified CFLO list The number of items in specified SUM list Future value of a single 1 00 payment equivalent to 1 i 100 n is the number of compounding periods i is the interest rate per compounding period expressed as a percentage 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 Square of x x Square root of x VX The number of times that specified cash flow occurs Truncates x to y decimal places if 0 lt y lt 11 or truncates x to y significant digits if 12 lt y lt 1 y must be an integer Future value of a uniform series of 1 00 payments equivalent to SPEV i n 1 1 100 nis number of payments i is periodic interest rate expressed as a percentage Present value of a uniform series of 1 00 payments equivalent to USFV i n SPFV i n n is number of payments i is periodic interest rate expressed as a percentage 12 The Equatio
128. escription FIN BOND Clears BOND law CLR DATA variables setting CALL to 100 TYPE 368 Sets type if necessary SEMI 36 368 SEMTANNURL check the display 5 192003 SETT Purchase date SETT 85 19 2663 MOH MM DDYYYY format 6 302017 Maturity date MAT MAT 66 36 2017 FRI O CPNS CPH 8 48 Coupon rate is zero MORE 10 YLO YLO i8 88 Yield to maturity PRICE PRICE 25 23 Calculates price 8 Bonds 113 File name English M02 1 040308 Print doc Print data 2004 3 9 9 Depreciation The DEPRC depreciation menu calculates depreciation values and remaining depreciable values one year at a time The methods available are m Declining balance m Sum of the years digits m Straight line m Accelerated Cost Recovery System The DEPRC Menu FIN BUS SUM TIME SOLVE CURRX TVM ICNV CFO BOND DEPRC BASIS SALV LIFE ACRS ACRS MORE YR FACT DB SOYD SL MORE Pressing DEPRC displays the DEPRC menu 114 9 Depreciation File name English M02 1 040308 Print doc Print data 2004 3 9 Table 9 1 DEPRC Menu Labels Menu Description Label BASIS Stores the depreciable cost basis of the asset at acquisition SALY Stores the salvage value of the asset at the end of its useful life If there is no salvage value set SALV 0 LIFE Stores the expected useful life in whole years of the asset ACS Stores the appropriate Accelerated Cost Recovery System percentage from the published ACRS tables ACRS Calculates the ACRS
129. est rate 75250 PM PY 73 258 88 Stores amount of the loan PMT PMT 834 33 Calculates monthly payment 70 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 Step 2 Calculate the balloon payment after 4 years 894 33 Stores rounded PMT value PMT PMT 894 33 for exact payment amount no fractional cents 4a iH H 45 86 Figures and stores number of payments in 4 years Fy PYS 7 3 485 51 Calculates balloon payment after four years This amount plus last monthly payment repays the loan Savings Calculations Example A Savings 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 FV 3 000 PMT 0 I YR 7 2 P YR 1 N PV 2 000 The PMT stored in the previous step is the 12 digit number 894 330557971 The calculation of the balloon payment must use the actual monthly payment amount the rounded number 894 33 an exact dollars and cents amount 5 Time Value of Money 71 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys FIH TYH CLR DATA OTHER 1 Perk 7 2 sik 2000 Py 3000 Fi Display i2PeYR ENDO MODE i PeYR ENDO MODE Ia YES 28 PU 2 4EE Be FU 3 8H8 BG H 35 83 Descripti
130. for 60 days 450 455 18 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 60 000 for 30 years and the interest rate is 11 2 annually with monthly payments what APR is the borrower paying 1 Since the payment amount is not given calculate it PMT first Use the given mortgage amount PV 60 000 and interest rate IMYR 112 2 To find the APR the new YR use the PMT calculated in step 1 and 276 F RPN Selected Examples File name English M02 1 040308 Print doc Print data 2004 3 9 adjust the mortgage amount to reflect the points paid PV 60 000 2 All other values remain the same term is 30 years no future value Keys Display FIN TuM OTHER fam CLR DATA i PYE EHD HODE 30 H H 368 48 11 5 TAYR 60000 Pi PV 60 00G BG O F4 FV 6 68 PT PMT 594 17 RCL PV 2 E PM PY 59 988 86 IZvR InVYR 11 76 Description If necessary sets 12 payments per year and End mode Figures and stores number of payments Stores interest rate and amount of loan No balloon payment so future value is zero Borrower s monthly payment 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 origin
131. 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 FOR CONSUMER TRANSACTIONS IN AUSTRALIA AND NEW ZEALAND THE WARRANTY TERMS CONTAINED IN THIS STATEMENT EXCEPT TO THE EXTENT LAWFULLY PERMITTED DO NOT EXCLUDE RESTRICT OR MODIFY AND ARE IN ADDITION TO THE MANDATORY STATUTORY RIGHTS APPLICABLE TO THE SALE OF THIS PRODUCT TO YOU 234 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data 2004 3 9 Service Europe Asia Pacific L America Country Telephone numbers Austria 43 1 3602771203 Belgium 32 2 71 26219 Denmark 45 8 2332844 Eastern Europe countries 420 5 41422523 Finland 35 89640009 France 33 1 49939006 Germany 49 69 95307 103 Greece 420 5 41422523 Holland 31 2 06545301 Italy 39 02 75419782 Norway 47 63849309 Portugal 35 1 22 9570200 Spain 34 915 642095 Sweden 46 851992065 Switzerland 41 1 4395358 German 4 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 Country Telephone numbers Australia Singapore Country
132. gnostic self test The self test runs continuously repeating until you halt it To run the self test 1 Turn the calculator on 2 If you have the optional infrared printer turn it on Certain diagnostic information is printed during the test 3 If possible return to the MAIN menu press aa MAIN 4 To start the self test hold down while you press the fifth menu key from the left Once the self test has begun do not press any keys until you are 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 m f the calculator passes the self test the calculator displays OK ifBii m If the calculator displays FAIL followed by a five digit number the calculator requires service 6 To halt the self test hold down while you press the third menu key from the left The calculator displays MACHINE RESET If you press any other key instead the test halts and the calculator displays a FAIL message This results from an incorrect key being pressed and does not mean that the calculator requires service 7 If the calculator failed the self test repeat steps 4 through 6 to verify the results If you do not have a printer write down the messages that are displayed in step 5 232 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data
133. h M02 1 040308 Print doc Print data 2004 3 9 216 ITEM 59 TOT OTAL 83i 66 MAME Names this list RENT See RENT ITEMN S3 7 page 30 to use the ALPHA menu GET NEW LTENCL 2 Gets a new empty list 54 Stores frequencies into 32 second list 88 92 ITEMCS3 7 TOTAL 266 66 CALC Displays names of all MORE FROST SELECT X VARIABLE SUM lists RENT SELECT Y VARIABLE Specifies RENT as the xlist CURR LINEAR Specifies the current unnamed list as the y list and then displays the FRCST menu Ignore model type MORE WMH H MH 269 44 Average monthly rent GSD G 505 97 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 Ex Dx Ly Ly L xy and n the number of elements in either list 1 Display the FRCST menu and select the x and y lists as explained in steps 1 4 of the instructions on page 134 To find the summation 10 Running Total and Statistics 139 File name English M02 1 040308 Print doc Print data 2004 3 9 statistics for just one list of data specify the same list for both x and y 2 To see n press MORE SIZE 3 Press MORE again to display the summation menu and press the menu label for the value you want Doing Other Calculations with SUM Data If you would like to do other statistical calculations with SUM data besides those in the CALC menu you c
134. harmful interference in a residential installation However there is no guarantee that interference will not occur in a particular installation In the unlikely event that there is interference to radio or television reception which can be determined by turning the calculator off and on the user is encouraged to try to correct the interference by one or more of the following measures m Reorient or relocate the receiving antenna m Relocate the calculator with respect to the receiver Canada This Class B digital apparatus complies with Canadian ICES 003 Cet appareil numerique de la classe B est conforme a la norme NMB 003 du Canada Japan CORES PRUBRE SERBS ATMA RBS VCC OLS ROCKMAN RE CT CORBIS RRR CHAT SCLe ARMELTWETA COREMNIIA PTLE Vary ZERIE LTE Asht SB SS SHOT CEMBHVET Fy tai AAS IGE TIELLY FRY RUALTCESLY Noise Declaration In the operator position under normal operation per ISO 7779 LpA lt 7OcB A Assistance Batteries Memory and Service 237 File name English M02 1 040308 Print doc Print data 2004 3 9 More About Calculations IRR Calculations The calculator determines IRR for a set of cash flows using mathematical formulas that search for the answer The process finds a solution by estimating an answer and then using that estimate to do another calculation in mathematical terms this is called an iterative process In most cases the calculator finds the desired answer since there is
135. hat 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 LEFT RIGHT LEFT RIGHT e Z Case la Case 1b LEFT RIGHT is exactly O LEFT RIGHT is not exactly 0 LEFT and RIGHT are relatively close together The two estim ates are neighbors Estimate Estimate If you want to know whether LEFT RIGHT is exactly zero press the menu key for the unknown variable If LEFT RIGHT is not equal to zero the calculator displays the values of LEFT and RIGHT LEFT lt 4 BRBEBEE EE RIGHT 1 GHBRBERBABE The equation could have more than one iterative solution If the answer does not seem reasonable enter one or two guesses and B More About Calculations 243 File name English M02 1 040308 Print doc Print data 2004 3 9 restart the search m Case 2 The calculator displays the values of LEFT and RIGHT which are unequal To see the calculator s result press or CLR If LEFT and RIGHT are relatively close to one another in value the result is probably a true solution Otherwise the result is probably not a true solution If the result seems unreasonable it could be because the equation has more than one solution You might want to enter one or two guesses and restart the search If you want to obtain additional information about the answer press and hold down the menu key for the unkno
136. he past or was cleared For 12 hour format press APM to switch between AM and PM 5 Setting the appointment date Key in the date in the current date format For example enter October 4 2003 as 10 042003 month day year format or 4 102003 day month year format Press DATE If the appointment is within a year from today you can omit the year 146 11 Time Appointments and Date Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 6 The appointment message optional To set change or just view a message press MSG Type the message refer to page 30 for using the ALPHA menu Messages are limited to a maximum of 22 characters Press when done Press to negate any changes and retain the original message 7 The repeat interval optional To set view or change a repeat interval press RPT Key in an integer and press the appropriate key For example 2 DRY causes the appointment to go off at the same time every other day 90 MIH sets the repeat interval to 1 2 hours MONE sets the appointment to non repeating You can specify repeat intervals up to 104 weeks in length 728 days 17 472 hours etc 8 When done press to return to the APPT menu The appointment you just set will be recorded such as SET i You can check an appointment by pressing its menu key such as FPT1 restores an appointment s time and date to the display if it has been overwritten by other operations Acknowledgi
137. her than the number of days use this for an actual calendar basis DEBT LOAN LOANx I 4 iBbexOOARYSCOATE1 OATE 13 365 or use this for a 360 day basis DEBT LOAH LOAMxIx iBBxD0DRYSCOATEI ORTES 32 3668 DATE the date the loan commences DATE2 the date the loan ends Yield of a Discounted or Premium Mortgage The annual yield of a mortgage bought at a discount or premium can be calculated given the original mortgage amount PV interest rate I YR periodic payment PMT balloon payment amount if any 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 yield if the purchase price of the mortgage is 79 000 1 Since the payment amount PMT is not given calculate it first To do this first assume 20 years amortization on the original mortgage with no balloon payment so N 20 x 12 FV 0 PV 100 000 and I YR 9 2 Since the balloon amount is not given calculate it FV next Use PMT from step 1 but change N to 5 years N 5 x 12 14 Additional Examples 191 File name English M02 1 040308 Print doc Print data 2004 3 9 3 Finally ente
138. hown here is grouped into two sets of consecutive equal cash flows 7 Cash Flow Calculations 93 File name English M02 1 040308 Print doc Print data 2004 3 9 FLOW 3 1 950 TIMES 3 1 FIOW 1 100 FLOW 2 200 TIMES 1 5 TIMES 2 3 _ ae ee ee 7 819 ml Lf Lf Lf LA LA 5 2 ff oo ot ff 6 82 2 g A A A II n gt n gt n gt 1 S B 8 S SS Figure 7 2 Grouped Cash Flows After an initial payment of 100 the investor pays 100 at the end of periods 1 through 5 and 200 at the end of periods 6 through 8 The investment returns 1 950 at the end of period 9 For every cash flow you enter the calculator prompts you to indicate how many times TIMES it occurs Creating 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 increase or decrease the flow and move each cash flow up one period Remember a payment made at the beginning of period 2 is equivalent to the same payment made at the end of period 1 and so on Refer to pages 64 92 94 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004
139. hp 17bll Financial Calculator Owner s Manual O invent Edition 2 Part Number F2234 90020 Notice For warranty and regulatory information for this calculator see the owner s manual This manual and any examples contained herein are provided as is and are subject to change without notice Hewlett Packard Company makes no warranty of any kind with regard to this manual including but not limited to the implied warranties of merchantability and fitness for a particular 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 2003 Hewlett Packard Development Company L P Reproduction adaptation or translation of this manual is prohibited without prior written permission of Hewlett Packard Company except as allowed under the copyright laws The programs that control your calculator are copyrighted and all rights are reserved Reproduction adaptation or translation of those programs without prior written permission of Hewlett Packard Co is also prohibited 4995 Murphy Canyon Rd Suite 301 San Diego CA 92123 Printing History Edition 1 June 2003 Edition 2 January 2004 File name English M02 1 040308 Print doc Print data 2004 3 9 Welcome to the hp 17bll The hp 17bll is part of Hewlett Packard s new generation of calculators m The tw
140. ifies examples or 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 Power On and Off Continuous Memory To turn on the calculator press clear note ON printed below the key To turn it off press and then CLR This shifted function is called 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 batteries as soon as possible Follow the instructions on page 224 Adjusting the Display Contrast The display s brightness depends on lighting your viewing angle and the display contrast setting To change the display contrast hold down the key and press or B 1 Getting Started 17 File name English M02 1 040308 Print doc Print data 2004 3 9 Setting the Language The calculator can display information in six different languages The language initially used by the calculator was preset at the factory To change the language 1 Press the f MODES 2 Press INTL to display the INTL menu which stands for international
141. ightmost 2 475 66 39 15 number into register 2 EJ i2 i5 Completes calculation 560 1 Recalls contents of register 1 566 1 475 66 1 RCL 2 1 835 78 39 15 Recalls register 2 E 26 45 Completes calculation 2 Arithmetic 45 File name English M02 1 040308 Print doc Print data 2004 3 9 The and keys can also be used with variables For example Ml in the MU C menu stores the rightmost number from the display into the variable M C Ml copies the contents of M C into the calculator line If there is an expression in the display VY such as 2 4mW then the recalled number replaces only the last number You do not need to clear storage registers before using them By storing a number 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 3 45 78 Stores 45 7 in reg 3 2 5 3 2 56 Multiplies contents of register 3 by 2 5 and stores result 114 25 back in register 3 3 114 25 Displays register 3 Table 2 3 Arithmetic in Registers Keys New Register Contents old register contents displayed number O old register contents displayed number op 4 O old register contents x displayed number n 4 O old register contents displayed number dp 4 O old register contents displayed number 46 2 Arithmetic File name English M0
142. igure C 3 continued FIN Menu C Menu Maps 257 File name English M02 1 040308 Print doc Print data 2004 3 9 SUM CALC INSR DELET NAME GET TOTAL ALPHA Edit menu apo ALPHA menu NEW Names of lists MORE CIOTAL MEAN EDN MIN Em SORT FRCST MORE Select x and y STDEV RANG MORE MODL W MN SIZE MORE LIN LOG EXP PWR C2 2 C2xY MORE Figure C 4 SUM Menu For the complete menu see pages 30 31 258 C Menu Maps File name English M02 1 040308 Print doc Print data 2004 3 9 TIME CALC APPT ADJST SET HR HR MIN MIN SEC SEC APTI APT2 MORE APT10 Figure C 5 TIME Menu For the complete menu see pages 30 31 C Menu Maps 259 File name English M02 1 040308 Print doc Print data 2004 3 9 SOLVE CALC EDIT DELETE NEW ALPHA Edit menu ALPHA menu Menu of equation variables Figure C 6 SOLVE Menu DISP FIX ALL i MATH LOG 10 X LN EXP N PI MODES BEEP PRNT DBL ALG RPN INTL PRINTER LIST STK REGS TIME MSG TRACE Figure C 7 DSP MATH MODES and PRINTER Menus For the complete menu see pages 30 31 260 C Menu Maps File name English M02 1 040308 Print doc Print data 2004 3 9 RPN Summary About RPN The RPN appendixes D E and F are especially for those of you who want to use or learn RPN Hewlett Packard s original Reverse Polish Notation for operating calculators This calculator
143. ill be averaged When you create and name the SUM list make sure its name matches the name in the Solver equation The following example assumes 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 5360 2900 3670 4040 3200 Keys Display Description SUM Displays SUM menu and current list fl CLR DATA YES Clears current list or or gets GET WEM ITEMCia a new one 4400 Enters data 5360 2900 3670 218 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 4040 3200 HAME VOL SOLVE use F and 4 if necessary CALC 3 i 3 LAST MANG 4 LAST MANG 5 LAST MANG 6 LAST MANG ITEMEF3 7 TOTAL 23 578 66 ITEMS MAVG 4 226 66 MAVG 3 976 67 MAVG 3 536 67 MAVG 3 636 67 Chi Squared x Statistics Names the list VOL Displays the MAVG equation Make sure name is VOL Displays menu Stores number of points Calculates average for months 1 2 and 3 Calculates average for months 2 3 and 4 Calculates average for months 3 4 and 5 Calculates average for months 4 5 and 6 The x
144. inal annual interest rate that corresponds to your payment periods a Store the number of regular payments or withdrawals you will be making per year in F b Press HMOM Return to the TVM menu EXIT EXIT TM Store the justcalculated nominal interest rate in I YR press INR Store the number of payments or withdrawals per year in FR and set the appropriate payment mode Continue with the TYM 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 is the initial deposit c PMT is the amount of the regular periodic deposit or withdrawal d FV is the future value When the interest rate is the unknown variable first calculate I YR in the TVM menu This is the nominal annual rate that corresponds to your payment periods Next use the ICNV menu to convert this to the 88 6 Interest Rate Conversions File name English M02 1 040308 Print doc Print data 2004 3 9 effective interest rate based on your payment periods Last convert the effective rate to the nominal rate based on the bank s compounding periods Example Balance of a Savings Account Starting today you make monthly deposits of 25 into an account paying 5 interest compounded daily 365 day basis At the end of 7 years how much will you receive from the account Keys Display FIM ICNY SELECT COMPOUHDIHG PER COMPOUNDING F
145. iness BUS Time Value of Money TVM Amortization Interest Rate Conversions File name English M02 1 040308 Print doc Print data 2004 3 9 248 215 250 251 251 252 252 253 253 253 C 254 D 261 261 261 262 263 264 264 264 266 266 E 268 268 269 269 270 271 272 273 273 Cash Flow Calculations Bond Calculations Depreciation Calculations Sum and Statistics Forecasting Equations Used in Chapter 14 Canadian Mortgages Odd Period Calculations Advance Payments Modified Internal Rate of Return Menu Maps RPN Summary About RPN About RPN on the hp 17bll Setting RPN Mode Where the RPN Functions Are Doing Calculations in RPN Arithmetic Topics Affected by RPN Mode Simple Arithmetic Calculations with STO and RCL Chain Calculations No Parentheses RPN The Stack What the Stack Is Reviewing the Stack Roll Down Exchanging the X and Y Registers in the Stack Arithmetic How the Stack Does It How ENTER Works Clearing Numbers The LAST X Register Retrieving Numbers from LAST X Contents 11 File name English M02 1 040308 Print doc Print data 2004 3 9 273 Reusing Numbers 274 Chain Calculations 275 Exercises F 276 RPN Selected Examples 283 Error Messages 289 Index 12 Contents File name English M02 1 040308 Print doc Print data 2004 3 9 List of Examples The following list groups the examples by category Getting Started 25 Using Menus 29 Using the Solver Ar
146. ing the number of displayed decimal places in DSP INVALIDO H Attempted to calculate I YR with N lt 0 99999 or N 10 IRE gt BEASTS KEY IH GUESS CSTO 1IRR4 Calculation of IRR produced a negative answer but the calculator has determined that there is also a unique positive answer Refer to page 238 MACHIHE RESET The calculator has been reset page 224 228 286 Error Messages File name English M02 1 040308 Print doc Print data 2004 3 9 MAW Y OF HO SOLUTIONS The calculator is unable to calculate I YR Check the values stored in PV PMT and FV Make sure the signs of the numbers are correct If the values of PV PMT and FV are correct the calculation is too complex for the TVM menu You may be able to perform the calculation using the CFLO menu to calculate IRR MAWY HO SOLUTIONS KEY IH GUESS CSTO 1IRR4 The calculation of IRR is complex and requires you to store a guess Refer to page 238 MEMORY LOST Continuous Memory has been erased page 224 229 HAME ELREADY USED TYPE A HAME CIHFUTI The list name you ve attempted to enter is already in use type in a new name and press INPUT J HO SOLUTION 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 H H46 OF H HOHTHTEGER Attempted to calculate the factorial of a negative or non integer
147. ing 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 SOLVE CHEM FOR NEW EGUATION EDIT DELET NEH If the Solver list is not empty you will see the current equation the last one entered or selected Pressing A Y f A and fy moves you through the list 156 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 Table 12 1 The SOLVE Menu Labels Description Verifies the current equation and creates menu labels for it This is necessary before doing any calculations Accesses the ALPHA Edit menu page 31 so you can alter the current equation The arrow keys move long equations across the display Deletes the current equation or just its variables that is the space allotted in memory for the variables Allows you to enter a new equation While you re working with a specific equation in the Solver the equation s own menu appears in the display To retrieve the primary SOLVE menu press EXIT Entering Equations To make an entry into the Solver list 1 Press SOLVE WEH To insert the new entry at the bottom of the list press fad 2 Use the ALPHA menu to type in characters see page 30 and use the regular keyboard to type in digits and arithmetic operators y etc If you mak
148. ing that the calculation cannot continue without further information from you or that there is no solution Refer to appendix B for additional information about calculating IRR About the Internal Rate of Return IRR A conventional investment is considered attractive if IRR exceeds the cost of capital A conventional investment meets two criteria 1 the sequence of cash flows changes sign only once and 2 the sum TOTAL of the cash flows is positive Remember that the calculator determines a periodic IRR If the cash flows occur monthly then IRR is a monthly value too Multiply it by 12 for an annual value 7 Cash Flow Calculations 101 File name English M02 1 040308 Print doc Print data 2004 3 9 Example Calculating IRR and NPV of an Investment An investor makes an initial investment of 80 000 and expects returns over the next five years as illustrated below 115 000 5 000 5 500 4 500 ite FLOW 0 80 000 Initial flow Calculate the total of the cash flows and the internal rate of return of the investment In addition 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 FIH Displays current cash flow list CFLO and CFLO menu keys aw CLR DATA Cl
149. int data 2004 3 9 Managing Calculator Memory The calculator has approximately 30 740 units or bytes of user memory available This is separate from the system memory that stores all the unerasable information with which the calculator is manufactured The calculator displays INSUFFICIENT MEMORY if you attempt an operation that uses more memory than is currently available If you see this message 1 Complete any calculations in the calculator line press or CLR J 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 m Shorten or delete any messages with appointments see page 146 m Delete any Solver variables or equations you no longer need see page 164 A Assistance Batteries Memory and Service 227 File name English M02 1 040308 Print doc Print data 2004 3 9 Resetting the Calculator If the calculator doesn t respond to keystrokes or is behaving unusually attempt to reset it Resetting the calculator halts the current calculation clears the calculator line and displays the MAIN menu Stored data remains intact To reset the calculator hold down while pressing the third menu key from the left Repeat if necessary The calculator displays MACHINE RESET to confirm that reset has occurre
150. ith an empty list To remove just one value at a time from a list use DELET Doing Statistical Calculations CALC Once you have entered a list of numbers you can calculate the following values E For one variable the total mean median standard deviation range minimum and maximum You can also sort the numbers in order of increasing value E For two variables x estimates and y estimates this is also called forecasting the correlation coefficient for different types of curves this is curve fitting the slope and y intercept of the line and summation statistics You can also find the weighted mean and the grouped standard deviation 10 Running Total and Statistics 127 File name English M02 1 040308 Print doc Print data 2004 3 9 Calculations with One Variable The CALC menu calculates the following statistical values using one SUM list Table 10 2 The CALC Menu for SUM Lists TOTAL Calculates the sum of the numbers in the list MERAH Calculates the arithmetic mean average MEDM Calculates the median STDEV Calculates the standard deviation RANG Calculates the difference between the largest and smallest number ee MIH Finds the smallest minimum number in the list MAR Finds the largest maximum number in the list SORT Sorts the list in ascending order FREST Displays a series of menus for calculations with two variables for curve fitting estimation weighted mean and grouped st
151. ithmetic 40 Calculating Simple Interest 178 Unit Conversions 190 Simple Interest at an Annual Rate RPN example 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 Mortgage with a Balloon Payment 71 A Savings Account List of Examples 13 File name English M02 1 040308 Print doc Print data 2004 3 9 72 74 75 80 82 172 191 193 194 196 197 198 200 200 202 207 208 214 86 89 97 102 104 105 210 An Individual Retirement Account Calculating a Lease Payment Present Value of a Lease with Advanced Payments and Option to Buy Displaying an Amortization Schedule for a Home Mortgage Printing an Amortization Schedule Calculations for a Loan with an Odd First Period Discounted Mortgage APR for a Loan with Fees RPN example on page 276 Loan from the Lender s Point of View RPN example on page 277 Loan with an Odd First Period Loan with an Odd First Period Plus Balloon Canadian Mortgage Leasing with Advance Payments A Fund with Regular Withdrawals Savings for College RPN example on page 278 Tax Free Account RPN example on page 280 T
152. ks the manager has kept records of the number of minutes of advertising that were purchased and the sales for that week 134 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 Number of Minutes of Radio Dollar Sales Advertising y values x values SALES MINUTES 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 y A 3 000 a forecasted roe 2 000 w p SALES in Dollars ye V 1 000 E ae t t t t t t H x 0 1 2 3 4 5 6 7 MINUTES of Advertising 10 Running Total and Statistics 135 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys uw LM CLR DATA ES INPUT INPUT INPUT INPUT INPUT INPUT KR OM WwW N HAME MINUTES Now enter and name the second list PE ET EH 1400 INPUT 920 1100 INPUT 2265 INPUT 2890 INPUT 2200 INPUT NAME SALES CALC MORE FREST 136 10 Running Total and Statistics Display ITEM Fa 7 TO Y ITEM Fa 7 ITEMC id ITEMC Pr a TOTAL i4 775 66 TYPE A HAMNE CINPUTI ITEM F3 7 SELECT VARIABLE TAL 26 68 PE A MAME CIMPUTI Description Displays current SUM list and S
153. land Determine the expiration date Assume the date format is month day year Keys Display TIME CALC 2 092003 DATE1 DATE Be Bo 2he Ss SUH 120 DRYS ACTUAL DAYS i28 68 DATES DATE2 86 89 2883 MOH Description Displays CALC menu Stores Feb 9 2003 Stores number of days into the future Calculates expiration date DATE2 152 11 Time Appointments and Date Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 a 12 The Equation Solver The Equation Solver the SOLVE menu stores equations that you enter and creates menus for them You can then use those menus to do calculations Enter Solver equations in algebraic form regardless of the calculation mode ALG or RPN The Solver can store many equations the number and length of equations is limited only by the amount of memory available The equations are stored in a list FIN BUS SUM TIME SOLVE CURRX CALC EDIT DELETE NEW 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 m A change in the price of the product will affect sales by a forecasted percentage A m A change in sales force training will affect sales by a forecasted percentage B m A competitor s new product will affect sales by a forecasted percentage C 12 The Equation Solver 153 File name English M02 1 040308 Print doc Print
154. late 1 2 3 etc and press YR 5 If you are using the declining balance method enter the DB factor a percentage and press FACT 6 Press DE S0vD depreciation or to calculate the appropriate 7 To see the remaining depreciable value basis salvage value accumulated depreciation press Y 8 To calculate the depreciation for another year just change YR and press DOB SOY0 or SL again The calculated values of RDV DB SOYD and SL are rounded internally to the number of decimal places specified by the current display setting A setting of FIX 2 means that these values will be rounded internally to two decimal places 116 9 Depreciation File name English M02 1 040308 Print doc Print data 2004 3 9 Example Declining Balance Depreciation A metalworking machine purchased for 10 000 is to be depreciated over 5 years lts salvage value is estimated at 500 Find the depreciation and remaining depreciable value for each of the first 3 years of the machine s life using the double declining balance method 200 of the straight line rate For comparison find the straightline depreciation as well Keys FIH DEPRIC 10000 BASIS 500 SALW 5 LIFE MORE 1 RH 200 FACT DE 2 Rt DE 3 TYRE DE SL Display BASIS i16 6668 66 SALV 3688 68 LIFE 3 468 TR 1 68 FACTS 266 68 DB 4 888 668 ROVH5 588 68 DE 2 466 48 ROV 3 188 BG DE i 446 48 ROV 1 668 68 SL
155. lculate Press Display 750 x 12 360 750 ENTER 12 x 360 25 66 360 750 x 12 360 ENTER 750 2E 84 or 750 ENTER 12 360 v E 456 75 18 5 456 ENTER 75 18 5 68 x 68 1 9 1 9 BE 737 07 3 4 x 5 6 3 ENTER 4 5 ENER OG OCF BB D RPN Summary 267 File name English M02 1 040308 Print doc Print data 2004 3 9 RPN The Stack This appendix explains how calculations take place in the automatic memory stack and how this method minimizes keystrokes in complicated calculations What the Stack Is Automatic storage of intermediate results is the reason that RPN mode easily processes complicated calculations without 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 oy T 0 00 Oldest number Z 0 00 Y 10 00 X 0 00 Displayed most recent number The most recent number is in the X register This is the number you see in the display 268 E RPN The Stack File name English M02 1 040308 Print doc Print data 2004 3 9 Reviewing the Stack Roll Down The roll down function on the key lets yo
156. le the CURRX menu is displayed sets the RATE to 1 0000 The values of the two current currencies are cleared to 0 60 4 Currency Exchange Calculation File name English M02 1 040308 Print doc Print data 2004 3 9 5 Time Value of Money The phrase time value of money describes calculations based on money earning interest over a period of time The TVM menu performs compound interest calculations and calculates and prints amortization schedules E n compound interest calculations interest is added to the principal at specified compounding periods thereby also earning interest Savings accounts mortgages and leases are compound interest calculations E 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 page 190 The TVM Menu FIN BUS SUM TIME SOLVE CURRX TVYM ICNY CFO BOND DEPRC N I YR PV PMT FV OTHER P YR BEG END AMRT 5 Time Value of Money 61 File name English M02 1 040308 Print doc Print data 2004 3 9 The time value of money TVM menu does many compound interest calculations Specifically you can use the TVM menu for a series of cash flows money received or money paid when m The dollar amount is the same for each payment m The payments occur at regular intervals E The payment periods coin
157. lish M02 1 040308 Print doc Print data 2004 3 9 2 Store the values for I YR PV and PMT Press to make PMT a negative number If you need to calculate one of these values follow the instructions under Using the TVM Menu on page 66 Then go on to step 3 3 Press OTHER to display the rest of the TVM menu A If necessary change the number of payment periods per year stored in PAR 5 If necessary change the payment mode by pressing BEG or END Most loan calculations use End mode 6 Press MRT If you want to print the amortization schedule go to page 82 to continue 7 Key in the number of payments to be amortized at one time and press P 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 Number of payments Current set of amortized at one time payments to be amortized P 12 PHTS TA F IHT PRIN EAL NEKT TAELE i Press to see results 8 To display the results press INT PRIN and BAL or press Y to view the results from the stack 9 To continue calculating the schedule for subsequent payments do a or b To start the schedule over do c a To calculate the next successive amortization schedule with the same number of payments press HET 5 Time Value of Money 79 File name English M02 1 040308 Print doc Print data
158. ll as single values can be stored m To calculate a value press the menu key without first keying in a number The calculator displays CALCULATING when a value is being calculated m To verify a stored value press recall followed by the menu key For example COST displays the value stored in COST m To transfer a value to another menu do nothing if it is displayed that is it is in the calculator line A number in the calculator line remains there when you switch menus To transfer more than one value from a menu use storage registers See page 45 Storing and Recalling Numbers Exiting Menus EXIT The 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 gets you out Clearing Values in Menus The gj CLRDATA key is a powerful feature to clear all the data in the currently displayed menu giving you a clean slate for new calculations m f the current menu has variables that is if the display shows menu labels for variables such as COST PRICE and M C in the MU C menu pressing CLR DATA clears the values of those variables to zero If you have just switched menus and want to store the result already in the calculator line then you should press STO before the menu key T To store the same number into two different variables use for the second variable e g 25 PRICE COST 2
159. lock setting Displays the SET menu for setting the time and date and for selecting the time and date formats 142 11 Time Appointments and Date Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 Setting the Time and Date SET Table 11 2 The SET Menu Labels DATE Sets the date to the displayed number MM DDYYYY or DD MMYYYY TIME Sets the time to the displayed number HH MMSS APM Switches between AM and PM 12 hour clock MO Switches between month day year and day month year formats 12724 Switches between 12 hour and 24 hour clock formats Displays the formats for entering the clock s date and HELP time To set the time 1 Press TIME SET to display the SET menu 2 Key in the correct time in the current format A or P 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 TIME to set the new time 4 For 12 hour format press APM to switch between AM and PM To set the date 1 Key in the correct date in the current format For example for April 3 2003 enter 4 032003 in month day year format or 3 042003 in day month year format 2 Press DATE 11 Time Appointments and Date Arithmetic 143 File name English M02 1 040308 Print doc Print data 2004 3 9 Example Setting the Date and Time Set the date and time to April 5 2003 4 07 p m Keys Display Description SET
160. lver Bee 150 157 58 DATE2 150 a SUM list 123 24 127 DAYS 150 CTIME 169 DATE Cube root 41 in appointment setting menu in RPN 265 145 Currency in SET menu 143 clearing variables 60 D KR 56 converting 59 DBL 185 entering a rate 57 DEUT 18 exchange 57 58 OS 34 35 selecting 55 Date storing and recalling 59 in the past or future 151 setting 143 44 currency 2 55 viewing 141 169 Current equation 156 Date arithmetic 149 52 deleting 162 64 Date format 143 144 Pai ee 255 for appointments 144 Reng DATE Solver 169 Cursor 19 Dayo theweel determin movement keys 32 ay of the week determining currency 1 55 149 fitting 121 oe pad 132797 Day month year format 143 calculations 134 37 144 equations 251 294 Index File name English M02 1 040308 Print doc Print data 2004 3 9 DDAYS 169 Decimal places 34 47 Decimal point 35 Declining balance depreciation See Depreciation Deleting all information 225 228 29 characters 32 equations 162 64 from a CFLO list 98 100 from a SUM list 125 127 variables in the Solver 162 64 Dependent variable 134 DEPRC menu 114 Depreciation ACRS method 114 118 19 calculations 114 17 declining balance method 114 116 17 equations 250 partial 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 Solv
161. m The amount of the payment s applied toward principal TVM N I YR PV PMT FV OTHER P YR BEG END AMRT P INT PRIN BAL NEXT TABLE 5 Time Value of Money 77 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 5 2 AMRT Menu Labels Description up Stores the number of payments to be amortized and calculates an amortization schedule for that many payments Successive schedules start where the last schedule left off P can be an integer from 1 through 1 200 INT Displays the amount of the payments applied toward interest PRIN Displays the amount of the payments applied toward principal BAL Displays the balance of the loan HEXT Calculates the next amortization schedule which contains P payments The next set of payments starts where the previous set left off TABLE 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 schedule 1 Press FIN TuM to display the TVM menu Amortization calculations use values of PV PMT and INT rounded to the number of decimal places specified by the current display setting A setting of FIX 2 means that these calculations will be rounded to two decimal places 78 5 Time Value of Money File name Eng
162. mber of compounding periods see Compounding Periods Different from Payment Periods page 87 m To change the Begin End mode press BEG or END m Press to return to the primary TVM menu 66 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 4 Store the values you know Enter each number and press its menu key 5 To calculate a value press the appropriate menu key You must give every variable except the one you will calculate a value even if that value is zero For example FV must be set to zero when you are calculating the periodic payment PMT required to fully pay back a loan There are two ways to set values to zero m Before storing any TVM values press ag CLR DATA to clear the previous TVM values E Store zero for example pressing O F 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 Your down payment is 1 500 What are your monthly payments Assume payments start one month after purchase in other words at the end of the first period What interest rate would reduce your monthly payment by 10 PV 7 250 1 500 FV 0 I YR 10 5 N 3X 12 P Y
163. message INTERRUPTED To see the best estimate the Solver has found so far press or You can restart the search from where it left off by pressing the menu key for the variable you are solving for Or you can restart the search using your own guesses see Entering Guesses below 180 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 Entering Guesses Entering your own guesses serves two purposes First it can save time by telling the Solver where to start searching Second if more than one solution exists entering guesses may lead the Solver to a solution in a specified range The closer your guesses are to the desired solution the better chance the Solver has of finding it You can enter guesses at these times m Before beginning the calculation after you ve stored a value for every variable except the unknown variable If you enter one guess the Solver generates a second guess m After you ve halted the iterative search E After the Solver has returned an answer and you wish to begin 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 gues
164. months Stores third withdrawal for junior year Stores cash flows of zero for the next 11 months Stores fourth withdrawal for senior year Done entering cash flows gets CALC menu 14 Additional Examples 205 File name English M02 1 040308 Print doc Print data 2004 3 9 a Step 2 Calculate NUS for the monthly deposit Keys Display Description V9 12 Figures the periodic Ix Iz r5 monthly interest rate and stores it in 1 HUS HUS 182 36 Amount of monthly deposit needed to meet planned withdrawals HPW NPVH1F 973 45 Calculates the net present value of the monthly deposits which is the same as the NPV of the four future withdrawals Value of a Tax Free Account See appendix F for RPN keystrokes for this example You can use the TVM menu to calculate the future value of 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 PV the present value of the retirement account PMT the amount of your deposit It must be constant for the duration of the account FV the future value of the retirement account The purchasing power of that futu
165. mple suppose your Solver list of equations includes these two equations labeled RUG which figures the cost of a carpet and TOTAL which figures the total cost of buying a carpet and installing it RUG P YOxLeHW 9 COST TOTAL COST HOURS 26 58 CHARGE COST is a shared variable You can calculate a value 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 between built in variables and Solver variables store them into storage registers Recall them after switching menus Remember that the value in the calculator line stays there when you switch menus Clearing Variables You can clear the variables in a Solver equation just as you clear variables in other menus press f CLR DATA while the menu with those variables is displayed 162 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 4 48 ERT OLD Bz Ce Make sure that the menu for the variables is in the display The equation itself should not be in the display If it is press CALC Pressing f CLR DATA now sets NEXT OLD A B and C to zero Variables are also clea
166. n File name English M02 1 040308 Print doc Print data 2004 3 9 Entering a Rate The following two examples illustrate the two ways to enter an exchange rate Example Calculating an Exchange Rate You have just flown from Canada to United States and you need to exchange your Canadian Dollars for U S Dollars The conversion chart looks this United States Conversion Chart in US Currency Rate Euro EUR 1 0842 Canadian CAN 6584 Hong Kong HK 1282 The chart states these equivalencies 1 EURE is equivalent to 1 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 CURR ENTER A RATE Display the CURRX menu SELCT CANS SELECT CURRENCY 2 Select CAN as currency 1 Us ENTER A RATE Select US as currency 2 1 CANS CAH 1 66 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 transactions in which the Bank buys the listed currency from you in exchange for United States dollars Thus if you arrive in United States with CAN the exchange rate in the Buy column applies for buying US with your CAN The Sell column applies for selling US in exchange for CAN 4 Currency Exchange Calculation 57 File name English M02 1 040308 Pri
167. n Future value of a 1 00 payment that occurs n times 246 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 N Ley Se USFV n 00 n A 100 Percentage Calculations in Business BUS CHANGE eee x 100 OLD TOTAL E x 100 TOTAL PRICE COST MARKUP C 100 COST eI MARKUP P ee x 100 PRICE Time Value of Money TVM S payment mode factor O for End mode 1 for Begin mode I YR trie i P YR O 0 PV 1 a x PMTx USPV i n FVx SPPV i n Amortization XINT 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 AYR P YR x 100 For each payment amortized B More About Calculations 247 File name English M02 1 040308 Print doc Print data 2004 3 9 INT INT 0 for period O in Begin mode INT INT with sign of PMT PRIN PMT INT PRIN PMT INT BAL BAL y PRIN SINT ZINT y INT new SPRIN PRIN y PRIN BAL x i INT is rounded to the current display setting Interest Rate Conversions Periodic compounding o NOM Y Continuous compounding NOM EFF e 1 x 100 Cash Flow Calculations the group number of the cash flow CF amount of the cash flow for group j n TIMES the cash
168. n Solver 171 File name English M02 1 040308 Print doc Print data 2004 3 9 Example Using a Solver Function USPV Calculations for a Loan with an Odd First Period Suppose an auto purchase is financed with a 6 000 loan at 13 5 annual interest There are 36 monthly payments starting in one month and five days What is the payment amount Use the following formula when the time until the first payment is more than one month but less than two months Interest 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 i f y ANNT ANNI DAYS 1200 _ Pi Sc BB mr a 0 1200 where ANNI the annual percentage interest rate N the number of payment periods DAYS the number of leftover odd days an integer from O through 30 PV the amount of the loan PMT the monthly payment The formula can be rearranged and simplified using USPV the Solver function for returning the present value of a uniform series of payments PUxCitAHHiti2eexOAYS seo PMTXUSPYCRHHIFi2 H9 6 The keystrokes are PV 1 ANNI 5 1200 x DAYS 30 PMT x USPV ANNI 12 N OJEJ 0 172 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Display SOLVE SY lt BOTTOM OF LIST gt HEH TYPE EQUATION CIMPUTI type in equation as shown above MTxUSPYCANHI i2 Ho 6 6 86 CALC 6000 PY PU
169. n into list Controls view of full equation Displays SOLVE menu Calculating with the Solver Suppose last month s forecast for a product was 2 000 units In the meantime three market changes have occurred that affect this forecast A The price 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 CALC VERIFYIHG EQUAT TOW 2000 OLD OLO 2 468 66 20 Az AX 28 48 5 BR BA 3 88 Description Verifies that equation is valid creates Solver menu with menu labels for this equation Stores old forecast Stores effect of price drop on sales Stores effect of sales force training on sales 12 The Equation Solver 155 File name English M02 1 040308 Print doc Print data 2004 3 9 15 Cx Ck 15 88 Stores effect of competitor s new product on sales MEST HEXT 2 266 BB Calculates new forecast for next month Suppose your boss wants next month s forecast to be 2 300 units You can t affect A or C but you can affect B through the sales training program Determine what B 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 HEST HEXT 2 368 668 Br Bx 10 48 The train
170. n only the second question appears 4 To delete just the variables respond HO to DELETE THE EQUATION This preserves the equation Deleting All Equations or All Variables in the Solver lag CLR DATA 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 g CLRDATA To delete all equations respond YES to both questions DELETE ALL VARIABLES DELETE ALL EQUATIONS 3 To delete just the variables respond WO to DELETE ALL EQUATIONS This preserves all equations Writing Equations An equation in a book looks different from an equation in the Solver A numerator and denominator might be separated by a bar such as 164 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 a b c d exf Since a Solver equation appears all on one line you must group the numerator and denominator separately by using parentheses such as CAt B C32 00 ExF 3 Order of Calculations Operations occur from left to right but do m Exponentiation first For example AxB 3 C is interpreted as A x B C B is raised to the 3rd power and then multiplied by A To raise A x B to the 3rd power write the equation as AxB3 3 C Multiplication and division before addition and subtraction For example A B C 12 is interpreted as A B C 12 To divide the sum of A B by C e
171. name English M02 1 040308 Print doc Print data 2004 3 9 The function is used primarily to swap the order of numbers in a calculation For example an easy way to calculate 9 13x8 is to press 13 8 x 9 Ea Arithmetic How the Stack Does It The contents of the stack move up and down automatically as new numbers enter the X register lifting the stack and as operators combine two numbers to produce one new number in the X register dropping the stack See how a full stack drops lifts and drops its contents while calculating 3 4 9 a lost T pe Lod fe Le a A el A E Y 3 7 i l a Drop Lift Drop a and b represent values already on the stack m Notice that when the stack drops it replicates the contents of the T register and overwrites the X register m 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 four numbers for calculations m Because of the automatic movement of the stack you do not need to clear the display before doing a new calculation E Most functions except and CLR prepare the stack to lift its contents when the next number enters the X register 270 E RPN The Stack File name English M02 1 040308 Print doc Print data 2004 3 9 How ENTER Works You know that separates two numbers keyed in one after the other In terms of the stack how does it do this Suppose the stack is fill
172. name a list 1 Press HAME 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 CLR J 3 Press INPUT The name can be up to 22 characters long and include any character except x lt gt 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 characters since their menu labels will look alike Viewing the Name of the Current List Press WAME then EXIT SUM does accept these exceptional characters in list names but the Solver functions SIZES and ITEM do not 126 10 Running Total and Statistics File name English M02 1 040308 Print doc Print data 2004 3 9 Starting or GETting Another List When you press SUM the SUM list that appears is 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 GET The GET menu contains a menu label for each named list plus NEM 2 Press the key for the desired list NEH brings up a new emply list Clearing a SUM List and Its Name To clear a list s numbers and name 1 Display the list you want to clear then press fad CLR DATA YES This removes the numbers 2 If the list is named you ll see ALSO CLEAR LIST HAME Press YES to remove the name Press HO to retain the name w
173. nds DEPRC Depreciation using Chapter 9 SL DB and SOYD methods or ACRS BUS Percent of total percent Chapter 3 Business Percentages change markup on cost markup on price SUM Lists of numbers running Chapter 10 Statistics total mean weighted statistics forecasting summation statistics and more TIME Clock calendar Chapter 11 Time Manager appointments date arithmetic SOLVE Creates customized menus Chapter 12 Equation Solver from your own equations for calculations you do often CURES Converting any currency to Chapter 4 Currency Exchange its equivalent in another currency 24 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 Choosing Menus and Reading Menu Maps Below is a menu map illustrating one possible path through three levels of menus from the MAIN menu to the BUS menu to the MU C markup as a percent of cost menu There are no menus that branch from the MU C menu because the MU C menu is a final destination you use it to do calculations rather than to choose another menu sa menu BUS FIN BUS SUM TIME SOLVE CURRX BUS menu CHG TOTL MU C MU P EXT eto MU C menu COST PRICE M C few MAIN WE Press BUS to choose the BUS menu Then press MUNC to choose the MU C menu E Press EXIT to return to the previous menu Pressing enough times returns you to the MAIN menu E Press gg VAIN to return to the MAIN menu directly
174. ng an Appointment To acknowledge the appointment and clear the message press any key except k during the beeping Appointments not acknowledged within 20 seconds become past due When an appointment comes due the alarm starts beeping and the alarm annunciator is displayed even if the calculator was off t The message or if none the time and date is displayed If the calculator is in the middle of a complex calculation when an appointment comes due the alarm annunciator comes on and the calculator beeps once When the calculation is done the alarm goes off T The beeping can be suppressed or restricted to appointments See Beeper On and Off page 36 11 Time Appointments and Date Arithmetic 147 File name English M02 1 040308 Print doc Print data 2004 3 9 Unacknowledged Appointments An appointment not acknowledged during its alarm becomes past due The alarm annunciator remains on To acknowledge a past due appointment 1 Press TIME APPT 2 Press the menu key for the past due appointment 3 Press to return to the APPT menu The acknowledged appointment is no longer listed as past due A repeating appointment is deactivated while it is past due and will not go off subsequently until the pastdue appointment 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 th
175. nt doc Print data 2004 3 9 0 6584 US US 6 66 Stores equivalent number of US RATE RATE 6 66 Calculates the RATE Part 2 The following keystrokes show that you can reverse the order in which the two currencies are selected Keys Display Description SELECT US SELECT CURRENCY 2 Select US as currency 1 CANE EHTER A RATE Select CAN as currency 2 1 CAN CAH i 66 Store number of CAN 0 6584 US USS 8 66 Stores equivalent number of US RATE RATE i 52 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 Use the United States conversion chart on page 57 to store an exchange rate for converting between Hong Kong Dollars and U S Dollars Keys Display Description CURR ENTER A RATE Display the CURRX menu SELCT MORE Select HK as currency MORE MORE 1 HES SELECT CURREWCY 2 US ENTER A RATE Select US as currency 2 0 1282 RATE RATE 8 123 Store the RATE 58 4 Currency Exchange Calculation File name English M02 1 040308 Print doc Print data 2004 3 9 Converting Between Two Currencies Once the currencies are selected and a RATE has been entered you can convert any number of units of one currency to the other Example Converting between Hong Kong and U S Dollars Part 1 Use the exchange rate
176. nter the equation as A B2 C iz 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 used the equation A B C x Old F t Next Forecast Old Forecast f PEREA we 100 which was entered into the calculator as HES T OLO CAA BA4 0C29 186820L0 A Id be entered A B E would be entered as x Bx A could be entered as A BxC OxE2 DxEFE 12 The Equation Solver 165 File name English M02 1 040308 Print doc Print data 2004 3 9 BxC 15 x E could be entered as A BxC t i D 5 8 E 5 x What Can Appear in an Equation Long Equations There is no limit on the length of an equation or the numker of variables it has if there is enough memory to store it An equation longer than one display line 22 characters moves to the left and adds an ellipsis To view a long equation move the cursor using the arrow keys on the ALPHA Edit menu For example TOTALCOST LENGTH H I OTHXHETGHT i2xUNT Tx i MAREUPS 1883 looks like TOTALCOST LENGTHxWIOT when it is stored Press EDIT Sas gt to view successive portions of the equation wHsHEITGHTFizZxUNITsxtitu 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
177. ntments Date Arithmetic CALC Determining the Day of the Week for Any Date Calculating the Number of Days between Dates Calculating Past or Future Dates The Equation Solver Solver Example Sales Forecasts The SOLVE Menu Entering Equations Calculating Using Solver Menus CALC Editing an Equation EDIT Naming an Equation Finding an Equation in the Solver List Shared Variables Clearing Variables Deleting Variables and Equations Deleting One Equation or Its Variables DELET Deleting All Equations or All Variables in the Solver ja CLR DATA Writing Equations What Can Appear in an Equation Solver Functions Conditional Expressions with IF The Summation Function gt Accessing CFLO and SUM Lists from the Solver Creating Menus for Multiple Equations S Function File name English M02 1 040308 Print doc Print data 2004 3 9 179 180 181 13 184 185 185 185 186 186 188 188 189 14 190 190 190 191 193 195 197 199 200 200 202 206 208 209 213 215 216 217 217 219 How the Solver Works Halting and Restarting the Numerical Search Entering Guesses Printing The Printer s Power Source Double Space Printing Printing the Display PRT Printing Other Information f PRINTER Printing Variables Lists and Appointments LIST Printing Descriptive Messages MSG Trace Printing TRACE How to Interrupt the Printer Additional Examples Loans Simple Annual Interest Yield of a Discounted
178. o line display has space for messages prompts and labels Menus and messages show you options and guide you through problems m Built in applications solve these business and financial tasks Time Value of Money For loans savings leasing and amortization Interest Conversions Between nominal and effective rates Cash Flows Discounted cash flows for calculating net present value and internal rate of return Bonds Price or yield on any date Annual or semi 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 and appointments m Use the Solver for problems that aren t built in type an equation and then solve for any unknown value It s easier than programming Em There are 28K bytes of memory to store data lists and equations m You can print information using the hp 82240 Infrared Printer m You can choose either ALG Algebraic or RPN Reverse Polish Notation entry logic for your calculations Welcome to the hp17bil 3 File name English M02 1 040308 Print doc Print data 2004 3 9 Contents 13 16 17 17 17 18 18 19 19
179. ode if necessary Stores total number of investment periods Recalls present value of negative cash flows and stores in PV Recalls future value of positive cash flows and stores in FV Stores zero in PMT no payments Calculates annual MIRR File name English M02 1 040308 Print doc Print data 2004 3 9 Price of an Insurance Policy The price of an insurance policy other than term life insurance is rarely apparent at first glance The price should include not only the premium payments but also the interest that could have been earned on the cash value or savings portion of the policy The following equation calculates the price per 1 000 of protection for one policy year and the interest rate earned on the savings portion of the policy To calculate the price assume some value for interest for example the interest rate you could earn on a one year savings certificate after tax Similarly to calculate interest assume a price per 1 000 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 TIHS PREM LVALIxCitia ise o VAL DIVos Bix FACE VAL SS INS the price per 1 000 of protection in one policy year PREM
180. of Money 75 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Display Description FIN TuM Displays TVM menu m CLR DATA iZ PYR END MODE Clears history stack and TVM variables OTHER Sets 12 payment periods 12 PAYR per year Begin mode BEG 12 PYR BEGIN HODE Step 1 Find the present value of the monthly payments 47 4H H 47 66 Stores number of payments 18 IxvR TavR i18 66 Stores annual interest rate 2400 PMT PMT 2 466 66 Stores monthly payment PY PUSS1i 735 58 Calculates present capitalized value of the 47 monthly payments Step 2 Add the additional advance payment to PV Store the answer V 2400 E 54 135 558 Calculates present value of all payments 0 4 135 568 Stores result in register O Step 3 Find the present value of the buy option 48 H H 48 66 Stores number of payment periods 15000 Stores amount of the buy Fu FWv i5 666 68 option money paid out O PMT PMNT 6 66 There are no payments 76 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 Pi PSs 346 43 Calculates present value of the buy option Step 4 Add the results of step 2 and 3 V ory o E 21 476 B6 Calculates present capitalized value of lease Amortization AMRT The AMRT menu press TuM OTHER AMRT displays or prints the following values m The loan balance after the payment s are made m The amount of the payment s applied toward interest
181. ollowing example assumes that you have entered the NOTE equations into the Solver For instructions on entering Solver equations see Solving Your Own Equations on page 30 Example Price and Yield of a Discounted Note What are the price and yield of the following U S Treasury Bill settlement date October 14 2003 maturity date March 17 2004 discount rate 8 7 Assume month day year format Select the NOTE PRICE equation in the Solver Keys Display Description CALC Creates menu 10 142003 Stores known values SETT SETT i6 i4 3 172004 MAT MAT 3 iF 8 7 DISC DISC 8 76 100 R RV 168 868 PRICE PRICE 36 25 Calculates price vy cae NOTE YiELD Displays NOTE YIELD CRY PRICE Ju equation then its menu YIELD YIELD 9 64 Calculates yield Statistics Moving Average Moving averages are often useful in predicting trends in data taken over a period of time In moving average calculations a specified number of points is averaged Each time a new point is acquired the oldest point is discarded Thus the same number of points is used in each calculation 14 Additional Examples 217 File name English M02 1 040308 Print doc Print data 2004 3 9 A Solver Equation for Moving Averages MAVGSECTIMARC Lt LAST H id LAST i ITEM name i334 MIM LAST gt N the number of values averaged in each calculation LAST the item number of the most recent value to be averaged name the name of the SUM list whose data w
182. olver list 133 Equation Solver 153 83 Exponential numbers 47 240 46 Exponentiation 41 42 265 clearing 163 in equations 165 introduction 29 Equations F algebraic rules 164 characters in 166 67 FACT 115 clearing 163 FRCST 128 deleting 162 64 FRAH 18 ie Fu key 63 ng ae FIX key 34 entering 157 296 Index File name English M02 1 040308 Print doc Print data 2004 3 9 Face value bond 110 Guesses FACT 169 entering in the Solver Factorial 42 169 181 83 IRR entering 238 40 FIN menu 256 57 Solver 245 FLOW Solver 169 Forecasting H calculations 130 37 HELP equations 251 i values 121 132 34 in the appointmentsetting menu 145 Foreign language 224 in the SET menu 143 Formatting number 34 Hike 56 FP 169 Halting a numerical search Fractional part 169 180 FRCST menu 130 132 Hierarchy of menus 24 Functions in equations 167 Hierarchy of operations in 168 71 equations 165 Future date calculating 151 History stack 43 See also Future value of a series of Stack RPN payments printing 186 equation 246 HMS 170 Solver function 171 HP Solve See Solver G HRS 170 co 82 Humidity requirements 230 G s0 132 l GET in CFLO 99 GET in SUM 127 IHT 78 G 169 IHSF in CFLO list 92 98 General business i in SUM list 122 124 calculations 49 53 equations 247 IRR 101 Grouped standard deviation Ix 101 138 39 Index 297 File name English M02
183. omputed value 5 00 is less than 11 07 you can conclude that to a 0 05 significance level 95 probability the die is fair 14 Additional Examples 221 File name English M02 1 040308 Print doc Print data 2004 3 9 Assistance Batteries Memory and Service Obtaining Help in Operating the Calculator Hewlett Packard is committed to supporting users of HP calculators You can obtain answers to your questions about using the calculator from our Calculator Support department We suggest reading Answers to Common questions below before contacting us Past experience has shown that many of our customers have similar questions Answers to Common Questions Q Im not sure if the calculator is malfunctioning or if I m doing something incorrectly How can 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 expect press 12 3 and get 3 00 A You may be in the wrong mode Press f VODES ALG to set Algebraic mode Q My numbers contain commas as decimal points How do restore the periods A Press 222 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data 2004 3 9 a Q How do change the number of decimal places the calculator displays A The procedure is described in Decimal Places on page 34 Q How do clear all or portions
184. on Displays TVM menu Clears history stack and TVM variables Sets one compounding per yr one interest pmt yr Payment mode does not matter Stores annual interest rate Stores amount of deposit Stores future account balance in FV Calculates number of compounding periods years for the account to reach 3 000 There is no conventional way to interpret results 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 Fil H 6 88 FW 3 645 28 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 2003 with a deposit of 2 000 Thereafter you deposit 80 00 into the account at the end of each half month The account pays 8 3 annual interest compounded semimonthly How much money will the account contain on April 15 2018 72 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 X FV z I YR 8 3 Re P YR 2X 12 End mode S N 15X 12X 2 a gt O PV 2 000 Keys Display Description FIN Tu Displays TVM menu It is not necessary to clear data because you do not need to set any of the values to zero OTHER Sets 24 payment periods 24 PAR per year End mo
185. ontents a except in lists X register exchanges with xy same as D Y register Changes sign D RPN Summary 263 File name English M02 1 040308 Print doc Print data 2004 3 9 Using INPUT for ENTER and v for R Except in CFLO and SUM lists the key also performs the function and the key also performs the function E In lists INPUT stores numbers Use to enter numbers into the stack during arithmetic calculations E In lists 4 and move through lists Use to roll through stack contents Doing Calculations in RPN Arithmetic Topics Affected by RPN Mode This discussion of arithmetic using RPN replaces those parts of chapter 2 that are affected by RPN mode These operations are affected by RPN mode Em Two number arithmetic 69 L m The percent function m The LAST X function f LAST 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 in chapter 2 Simple Arithmetic Here are some examples of simple arithmetic Notice that separates numbers that you key in m The operator etc completes the calculation E One number functions such as ix work the same in ALG and RPN modes 264 D RPN Summary File name English M02 1 040308 Print doc Print dat
186. or present value PMT monthly payment amount I YR annual Canadian interest rate as a percent N total number of payment periods for the life of the loan FV remaining balance or future value For instructions on entering Solver equations see Solving Your Own Equations on page 29 Advance Payments Leasing Occasionally payments are made in advance such as in leasing Leasing agreements sometimes 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 periods per year Remember the cash flow sign convention money paid out is negative money received is positive A Solver Equation for Advance Payments ADY PMT C PYU FUseC SPPVCTAYRSie2i Hao at CUSPUCTAYRSi2 H ADWS AO O For the character press WKYZ OTHER PMT the monthly payment amount PV the value of the equipment FV the residual value 14 Additional Examples 199 File name English M02 1 040308 Print doc Print data 2004 3 9 I YR the annual interest rate as a percent N the total number of payments ADV the number of advance payments The following example assumes that you have ente
187. or the decimal point and digit separators in a number 1 Press 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 digit separator U S mode For example 1 000 000 00 Pressing sets a comma as the decimal point and period as the digit separator non U S mode For example 1 000 000 00 1 Getting Started 35 File name English M02 1 040308 Print doc Print data 2004 3 9 Error Messages Sometimes the calculator cannot do what you ask such as when you press the wrong key or forget a number for a calculation To help you correct the situation the calculator beeps and displays a message E Press or to clear the error message Press any other key to clear the message and perform that key s function For more explanations refer to the list of error messages just before the subject index Modes Beeper 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 gg MODES 2 Pressing BEEP will simultaneously change and display the cur rent setting for the beeper E amp EEPER OH beeps for errors and appointments E BEEPER ON APPTS OHLY beeps only for appointments E BEEPER OFF silences the beeper completely 3 Press when done Print Press gJ MODES PRNT to specify whethe
188. ors far apart LEFT RIGHT Estimate Case 2c LEFT RIGHT have the same sign m Case 3 The calculator displays BAD GUESSES PRESS CCLRI TO VIEW The Solver is unable to begin its iterative search for a solution using the current initial estimates guesses You might find a solution by B More About Calculations 245 File name English M02 1 040308 Print doc Print data 2004 3 9 entering different estimates The closer you can estimate the answer the more likely that the Solver will find a solution E Case 4 The calculator displays SOLUTION NOT FOUNO The Solver is unable to find a solution Check your equation to make sure you have made no errors in entering it Also check the value of each known variable If your equation and variables are correct you might be able to find 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 PPV i n 1 Si n 2 Single Payment Future Value Function Future value after n periods of a single 1 00 payment n SPFV RA 4 ee 100 Uniform Series Present Value Function Present value of a 1 00 payment that occurs n times Z USPV n M 100 Uniform Series Future Value Functio
189. ory stack Stack RPN 268 73 automatic movement of 270 274 clearing 269 273 dropping 270 lifting 270 losing contents off the top 270 replicating contents in 269 270 rolling contents 270 271 size 269 Standard deviation 128 30 306 Index 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 RPPN 46 printing the contents of 186 Storing numbers 44 45 46 in built in variables 28 in RPN 264 266 Subtraction 21 38 40 SUM equations 251 SUM items maximum number of 121 SUM list CALC menu 128 clearing 127 clearing numbers 124 copying a number from 126 correcting 124 creating 123 24 definition 121 22 deleting numbers 125 editing 122 124 25 entering numbers in 123 24 FRCST menu 132 GETting a new list 127 File name English M02 1 040308 Print doc Print data 2004 3 9 inserting numbers 124 largest number in 128 name deleting 127 naming 126 printing 187 smallest number in 128 sorting 121 128 starting a new list 127 viewing numbers 124 viewing the name of the current list 126 SUM menu 122 23 258 Sum of cash flows 101 Summation 132 139 171 176 77 function in the Solver 176 78 220 of lists 177 values 132 139 Switching menus 25 2
190. ower 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 positive x values the exponential model requires positive y values and the power curve requires positive x and y values 10 Running Total and Statistics 133 File name English M02 1 040308 Print doc Print data 2004 3 9 To do curve fitting and forecasting 1 Enter the data into two SUM lists one for the x values and one for the y values Make sure each list has the same number of items so that the items are in matched pairs From the SUM menu press CALC MORE FRCST to display a menu of SUM list names The current list is labeled CURF unless named otherwise Press a menu key to select a list of x values independent variable Select a list of yvalues dependent variable 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 MORE MODL and then the menu key for the model To calculate the curve fitting results press CORR M and B 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 value you want to forecast Example Curve Fitting BJ s Dahlia Garden advertises on a local radio station For the past six wee
191. p 472 12 V Reusing the Last Result G LAST The gs LAST 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 V 123 17 Keys Display Description 123 17 1146 66 Calculates 123 17 11 83 Calculates 140 39 4 8 GB Copies 11 83 to the fw LAST 47 6 711 83 calculator line 3 37 Completes the calculation 44 2 Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 An equivalent keystroke sequence for this problem would be 39 8 amp 9123 G17 O aie E Storing and Recalling Numbers The key copies a number from the calculator line into a designated storage area called a storage register There are ten storage registers in calculator memory numbered O through 9 The key recalls stored numbers back to the calculator line V lf there is more than one number on the calculator line stores only the last number in the display To store or recall a number 1 Press or RCL 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 V Keys Display Description 475 6 1 4ra 66 Stores 475 6 into register 1 39 15 Stores 39 15 r
192. page 235 E 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 steps do not help the calculator requires service E If the calculator doesn t respond to keystrokes 1 Attempt to reset the calculator see page 228 2 If the calculator still fails to respond attempt to erase Continuous Memory see page 229 This will erase all the information you ve stored If these steps do not help the calculator requires service 230 A Assistance Batteries Memory and Service File name English M02 1 040308 Print doc Print data 2004 3 9 E If the calculator responds to keystrokes but you suspect that it is malfunctioning 1 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 A Assistance Batteries Memory and Service 231 File name English M02 1 040308 Print doc Print data 2004 3 9 Confirming Calculator Operation Self Test If the display can be turned on but it appears that the calculator is not operating properly you can do a dia
193. per year and Begin mode Stores number of payment periods until retirement 1 x 35 Stores dividend rate Present value of account before first payment Annual payment deposit Calculates amount in account at retirement Calculates total amount paid into IRA by retirement Calculates interest you will earn Taxes at 15 of interest Subtracts taxes from total FV to calculate after tax FV Stores after tax future value in FV F RPN Selected Examples 281 File name English M02 1 040308 Print doc Print data 2004 3 9 8 IxvR O PMT Py Pu 22 995 36 Calculates present value purchasing power of the above after tax FV at 8 inflation rate Example Taxable Retirement Account If you invest 3 000 each year for 35 years with dividends taxed as ordinary income how much will you have in the account at retirement Assume an annual dividend 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 FIH TuM OTHER P YR BEG 1P R BEGIN MOOE 35 4H H 35 88 8 175 28 G 5 89 IzvR IxYR 5 99 QO Py PU E BG 3000 PMT PMT 3 666 66 Fly F 345 585 61 8 Ix R O PHT Ply PU 23 369 11 282 F RPN Selected Examples Description Displays TVM menu Sets 1 payment per year and Begin mode Stores years until retirement Calculates interest rate diminished by tax rate
194. period PMT Stores or calculates the dollar amount of each periodic payment All payments are equal and no payments are skipped If the payments are unequal use CFLO not TVM Payments can occur at the oeta or end of each period If PMT represents money paid out it is negative Fy 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 OTHER i Second Level PAR Specifies the number of payments or compounding periods per year t it must be an integer 1 through When a non integer N an odd period is calculated the answer must be interpreted carefully See the savings account example on page 71 Calculations using a stored non integer N produce a mathematically correct result but this result has no simple interpretation The example on page 172 uses the Solver to do a partial period non integer calculation in which interest begins to accrue prior to the beginning of the first regular payment period T The number of payment periods must equal the number of compounding periods If this is not true see page 87 For Canadian mortgages see page 197 5 Time Value of Money 63 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 5 1 TVM Menu Labels Continued Second Level Continued BEG Sets Begin mode payments occur at the b
195. play but is still accessible Up to four lines of numbers are saved one in the display and three hidden These lines make up the history stack remaining from previous results 4 PFIN EUS SUM TIME S0LVE CURRH la 2 Invisible 1 88 M b 3 48 Ae 2 08 4 08 1 00 reer 2 a 1 48 3 88 FIN BUS SUM TIME S0LVE CURRH FIM BUS SUM TIME SOLVE CURRY The V a and fa Ri keys roll the history stack down or up one line bringing the hidden results back into the display If you hold down 4 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 CFLO in ALG mode or SOLVE in either ALG or RPN mode All numbers in the history stack are retained when you switch menus Pressing k exchanges the contents of the bottom two lines of the display 2 Arithmetic 43 File name English M02 1 040308 Print doc Print data 2004 3 9 a Pressing CLR DATA clears the history stack Be careful if a menu is active because then CLR DATA also erases the data associated with that menu V Keys Display Description 75 55 32 63 B 42 92 150 7 BJ 1 43 42 92 moves out of display Now suppose you want to multiply 42 92 x 11 Using the history stack saves you time v 42 92 Moves 42 92 back to calculator line 9 11 am
196. plays interest paid in first 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 2 years amortize 18 additional payments 42 24 18 18 4 P IHT PRIH BAL P i15PMTS 25 42 INTEREST 12 866 98 FRIHCIFAL 419 98 BALAHCE 64 129 65 Calculates amortization schedule for next 18 months Displays results 5 Time Value of Money 81 File name English M02 1 040308 Print doc Print data 2004 3 9 Printing an Amortization Table TABLE To print an amortization schedule or table do steps 1 through 5 for displaying an amortization schedule see page 78 6 Press AMRT Ignore the message KEY PMTS PRESS THF 7 Press TABLE 8 Key in the payment number of the first payment in the schedule and press FIRST For instance for the very first payment FIRST 1 9 Key in the payment number of the last payment in the schedule and press LAST 10 Key in the increment the number of payments shown at one time and press INCR For instance for one year of monthly payments at a time INCR 1 2 11 Press GO 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 desc
197. press 4 Keys Display Description 75 73 Changes the sign of 75 y 071 6 332 56 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 22 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 i em o Ea AA FIM BUS SUM TIME SOLVEICURRH i Menu Labels AN AN AN AN AN STO RCL DSP PRT EXIT RND J MATH MODES PRINTER _LMAIN The top row of keys is related to the labels along the bottom of the display The labels tell you what the keys do The six keys are called menu keys the labels are called menu labels Menu Keys 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 MAIN redisplays the MAIN menu The menu structure is hierarchical 1 Getting Started 23 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 1 3 The MAIN Menu Operations Done in Menu Label This Category Covered in FIH TVM Time value of money Chapter 5 Finance loans savings leasing amortization ICNV Interest conversions Chapter 6 CFLO Lists of cash flows for Chapter 7 internal rate of return and net present value BOND Yields and prices Chapter 8 for bo
198. press once This does not affect number entry To see this menu when the calculator line is in the display press EXIT Creating a SUM List To keep a running total of a list of numbers or do statistical calculations with sets of data first create a SUM list of the values Entering Numbers and Viewing the TOTAL To enter numbers into a SUM list 1 Press SUM You ll see ITEM 13 7 if the current list is empty or ITEM 2 or more3 7 if the list is not empty This is the bottom of the current list ITEM 11 7 CALC INGA UELET MAME GET TOTAL 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 f CLRDATA YES see also page 127 b Geta new list by pressing GET NEW The old list must be named first Press HANE or see page 126 3 Key in the value of the first item ITEM 1 press for a negative number and press INPUT To view ITEM 1 longer hold down before releasing it Remember that you can do calculations with a number before entering it This does not interfere with the list Whenever you press INPUT the number or evaluated expression in the calculator line is entered into the list If you need to use the MATH menu just press MATH do the calculation then press EX to return to where you were in SUM 10 Running Total and Statistics 123 File name English M02 1 040308 Print doc Print data 2
199. r investor or the borrower but not both PV Loan Money re ceived is a positive number Equal periods en 1 PMT Money paid out is a negative char Equal PMT PMI FV Aumber qual payments FY is Future Value if any e g a balloon payment Figure 5 3 A Cash Flow Diagram for a Loan from Borrower s Point of View End Mode FV PMT Loan PV Figure 5 4 A Cash Flow Diagram for a Loan from Lender s Point of View End Mode 5 Time Value of Money 65 File name English M02 1 040308 Print doc Print data 2004 3 9 Payments occur at either the beginning of each period or the end of each period End mode is shown in the last two figures Begin mode is shown in the next figure PV Capitalized value of lease FV Figure 5 5 Lease Payments Made at the Beginning of Each Period Begin Mode Using the TVM Menu First draw a cash flow diagram to match your problem Then 1 From the MAIN menu press FIM TWM 2 To clear previous TVM values press f CLR DATA 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 OTHER E To change the number of payments per year key in the new value and press PVR If the number of payments is different from the nu
200. r 14 for the cashflow diagrams Remember to press the key for while working in a list Pressing will add data to the list not perform an ENTER 278 F RPN Selected Examples File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Display FIN CFLO law CLR DATA YES or GET HEW FLOHCA Step 1 Set up a CFLO list Keys Display 0 FLOWS i3 O INPUT TIMESC1 1 12 enter 12 GJ 1 FLOW 2157 15000 TIMESC29 1 FLOW 33 7 0 TIMESCZ 1 11 FLOW 4357 15000 INPUT INPUT FLOW 5 Description Displays current cash flow list and CFLO menu keys Clears current list or gets a new one Description Sets initial cash flow FLOW O to zero Stores zero in FLOW 1 and prompts for the number of times it occurs For ENTER press not CINPUT Stores 143 for 11 years 11 months in TIMES 1 for FLOW 1 Stores amount of first withdrawal at end of 12th year Stores cash flows of zero for the next 11 months Stores second withdrawal for sophomore year F RPN Selected Examples 279 File name English M02 1 040308 Print doc Print data 2004 3 9 0 11 FLOWC6 15000 INPUT INPUT FLOWS 7359 0 11 FLOHES 7 15000 INPUT J INPUT FLOH 3 7 CALC HPY HUS MFM HEED I Stores cash flows of zero for the next 11 months Stores third withdrawal for junior year Stores cash flows of zero for the next 11 months Stores fou
201. r BUS menus has three variables 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 BUS then the appropriate menu label Pressing CHG for example displays OLD MEM CH 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 CHG Example Total sales last year were 90 000 This year sales were 95 000 What is the percent change between last year s sales and this year s Keys Display Description BUS CHG Displays CHG menu 50 3 Percentage Calculations in Business File name English M02 1 040308 Print doc Print data 2004 3 9 90000 p OLD 96 6668 86 Stores 90 000 in OLD 95000 HEH HEH 95 BGE BA Stores 95 000 in NEW CH CHANGE 5 56 Calculates percent change What would this year s sales have to be to show a 12 increase from last year OLD remains 90 000 so you don t have to key it in again Just enter CH and ask for NEW 12 CH RCHAHGE i2 66 Stores 12 in CH HEL HEW 166 866 66 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
202. r current values for N less number of payment periods already passed or 5 x 12 42 and PV proposed purchase price 79 000 then calculate I YR for the annual yield Step 1 Calculate PMT Make sure FV O Keys Display Description FIH TuM Selects menu sets 12 OTHER payments per year and CLR DATA End mode i2P YR END MODE 20 ws H H 246 86 Figures and stores total number of payments for a full 20 year loan with monthly payments 9 IxYR Stores interest rate and 100000 amount of original loan Pi FPu i 06 BGB BG Money paid out is negative o FY FV 8 68 Sets FV to zero PMT PMT 829 73 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 5m CU H 66 B6 Stores number of payments for 5 years Fu FUSBE TRF BS Calculates balloon due in 5 years 192 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 a Step 3 Enter actual current values for N and PV then find new I YR for discounted mortgage with balloon Keys Display Description RCL Ww Stores number of y E42 H H 18 66 payments remaining in 5 year loan 79000 Stores proposed Pay PUS 7 3 888 discounted purchase price new present value IXYR TavR 28 72 Calculates percent annual yield Annual Percentage Rate for a Loan with Fees See appendix F for RPN keystrokes for the next
203. r or not the printer ac adapter is in use Then press EXIT Double Space Press gg MODES DBL to turn double spaced printing on or off Then press EXIT Algebraic Press f MODES ALG to select algebraic entry logic RPN Press MODES RFH to select Reverse Polish Notation entry logic 36 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 Language Press f MODES INTL to change the language Calculator Memory MEM The calculator stores many different types of information in its memory Each piece of information requires a certain amount of storage space You can monitor the amount of available memory by pressing f MEM AVAILABLE MEMORY 38 748 BYTES Lak Number of bytes of Percentage of total memory still free memory still free The amount of memory available for storing information and working problems is about 30 740 bytes Units of memory 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 INSUFFICIENT MEMORY To remedy this situation you must erase some previously stored information Refer to Managing Calculator Memory on page 227 in appendix A The calculator also allows you to erase at once all the information stor
204. rch iteratively to solve for QTY it will begin by using the estimates 100 and 200 Keys Display Description 100 aTY QTY i66 B6 The first guess for QTY 200 TY QTY 206 68 The second guess for QTY 182 12 The Equation Solver File name English M02 1 040308 Print doc Print data 2004 3 9 ary QTY 286 GEGEGGB68 Solves for QTY iteratively O77 166 BEEEEBEER 12 The Equation Solver 183 File name English M02 1 040308 Print doc Print data 2004 3 9 13 Printing The calculator can print information using the hp 82240 Infrared Printer which accepts the infrared signal from the printer port This chapter describes information you can print Operation of the printer is covered in the printer owner s manual Port hp 17bil financial calculator The print annunciator immm appears in the display whenever the calculator sends information through its printer port Because communication goes only one way from calculator 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 H amp J is on If a low power condition occurs after you ve started a printing operation printing stops and the calculator displays the messag
205. re value depends on the inflation rate and the duration of the account 206 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 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 35 years how much will you have at retirement 2 How much will you have paid into the IRA 3 How much interest will you have earned 4 If your post retirement tax rate is 15 what is the after tax future value 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 FIH TWh OTHER 1 PAR BEG 35 4H 8 175 IVR o Pw 2000 PMT Fi PMT Vo Go vie Ve ED f m B Display i PYRE BEGIN MODE H 35 68 Ix YRk 8 18 PVH8 668 PMT 2 668 68 FW 387 648 45 76 6686 68 Sif 646 45 Description Sets 1 payment per year and Begin mode Stores number of payment periods until retirement 1 x 35 Stores dividend rate Present value of account before first payment Annual payment deposit Calculates amount in account at retirement Calculates total amount paid into IRA by retirement Calculates interest you will earn 14 Additional Examples 207 File name English M02 1 040308 Print doc Print data 200
206. red the equation ADV above into the Solver For instructions on entering Solver equations see Solving Your Own Equations on page 29 Example Leasing with Advance Payments Equipment worth 750 is leased to you for 12 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 CALC Creates menu 750 PM Stores known values 12 4H QO FY 3 AD4 10 IkvF IZVR 14 668 PMT PMT 64 45 Calculates payment Savings Value of a Fund with Regular Withdrawals Example A Fund with Regular Withdrawals What are the balances after 1 10 and 20 years of a fund that starts at 750 000 has 20 000 withdrawn at the beginning of each quarter and earns 10 annual interest compounded monthly 200 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 1 Because the compounding periods and the withdrawal periods are not coincident you must first convert the nominal interest rate to one in terms of the withdrawal periods You can do this using the ICNV menu as explained on page 87 Compounding Periods Different from Payment Periods 2 The rest of the calculation is a straightforward TVM problem Remember that money deposited is paid out and therefore negative money withdrawn is receiv
207. red when their equation is edited f Ifthe SOLVE menu is displayed rather than the SOLVE CALC w menu then pressing CLR DATA will prompt DELETE ALL Note WARIABLES Press MO otherwise you will lose the variables in all the equations See Deleting All Equations or Variables in the Solver page 164 Deleting Variables 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 m Clearing a variable sets it to zero the variable retains its storage location in memory This does not save memory space E Deleting a variable erases its value and its storage location This is a way to save memory space If a variable is shared its value is lost to all equations that share it The memory space for a deleted variable is re created the next time you use that equation An equation that has not been verified CALC pressed does not have any variables allocated to it Therefore it has no variables to be cleared or deleted 12 The Equation Solver 163 File name English M02 1 040308 Print doc Print data 2004 3 9 Deleting One Equation or Its Variables DELET To delete an equation or its variables 1 Display the equation 2 Press DELET in the SOLVE menu 3 To delete the equation respond YES to both questions DELETE THE VARIABLES DELETE THE EQUATION If the entry has no variables allocated the
208. ribed in the previous example page 80 print an amortization table with entries for the fifth and sixth years You can continue from the AMRT menu in the previous example step 7 above or repeat steps 1 through 6 Starting from the AMRT menu Keys Display Description TABLE PRINT AMORT Displays menu for TABLE printing amortization table V4 12 4 1 FIRST FIRST 49 06 The 49th is the first payment in year 5 82 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 a V6 12 LAST LAST F2 06 The 72nd is the last payment in year 6 12 INCR IHCR i2 66 Each table entry represents 12 payments 1 year co Calculates and prints amortization schedule shown below IavR iz 56 P 6S BBB BE PHT 693 72 Ful 6 BG PeYR 12 66 EHD MODE PMTS 49 66 IHMTEREST PRINCIPARL BRLAMCE PMTS 61 72 IHMTEREST PRINCIPAL BRLAWMCE 5 Time Value of Money 83 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 E The nominal rate is the stated annual interest rate compounded
209. rint data 2004 3 9 Weighted Mean and Grouped Standard Deviation Data in one list x can be weighted or grouped by frequency by data in another list y To find the mean of weighted data and the standard deviation of grouped data 1 Enter the data values the x variable into a SUM list 2 Enter the corresponding weights or frequencies the y variables into another list To calculate G SD the y values should be integers 3 From the SUM menu press CALC MORE FREST to display a menu of SUM list names The current list is CURF unless named otherwise Press the menu key for the list of x values Now select the list with the weights or frequencies y To calculate the weighted mean press MORE MW MH N QO Oo sb To calculate the grouped standard deviation press G SD 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 its standard deviation Create two SUM lists The first called RENT should contain the numbers 200 205 210 and 216 in that order The second can be unnamed and should contain the numbers 54 32 88 and 92 in that order Keys Display Description SUM aw CLR DATA Clears current list or gets a YES new one or GET SHE ITEMCis 7 200 Stores rents into a list 205 210 138 10 Running Total and Statistics File name Englis
210. rkup as a percent of price Stores 225 in COST Calculates markup 52 3 Percentage Calculations in Business File name English M02 1 040308 Print doc Print data 2004 3 9 Sharing Variables Between Menus If you compare the MU C menu and the MU P menus you ll see that they have two menu labels in common COST and PRICE CHG TOTL MU C MU P COST PRICE M C a COST PRICE M P ll Shared variables The calculator keeps track of the values you key in according to those labels For example if you key in COST and PRICE in the MU C menu exit to the BUS menu 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 BUS MUXC Displays MU C menu 9 6 COST COST 3 68 Stores 9 60 in COST 15 MAC MARKUPSC 15 68 Stores 15 in M C PRICE PRICE ii 6 4 Calculates retail price What is the markup on price Switch menus but keep the same COST and PRICE MUSF Exits MU C menu and displays MU P menu MAP MARKUPSP i3 64 Calculates markup as a percent of price 3 Percentage Calculations in Business 53 File name English M02 1 040308 Print doc Print data 2004 3 9 Currency Exchange
211. rouped Cash Flows You are considering an investment that requires a cash outlay of 9 000 with the promise of monthly cash flows as shown Calculate IRR Also find NPV and NFV at an annual interest rate of 9 00s L 00s L 00s L Oo o gt d gt d So O 6 6 So 86 6 6 S FLOW 1 FLOW 2 FIOW 3 FLOW A4 FLOW O 9 000 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 EZA Number of Times 3 4 3 Keys Display Description FIH Current cash flow list and CFLO CFLO menu aw CLR DATA Clears current list TIMES YES FLOW a prompting is turned on Stores the initial cash 9000 FLOWCi3 7 flow 104 7 Cash Flow Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 500 3 INPUT 1000 INPUT 4 O INPUT J 1500 3 CALC IRR V9 512 Ix HP HFM TIMESCis i FLOW C23 7 FLOW 3157F FLOW 49 7 FLOW 3157F f 8 75 HPVH4o2 95 HFVHS535 18 Stores FLOW 1 and prompts for TIMES 1 FLOW 1 occurs 3 times prompts for next cash flow Stores FLOW 2 four times Stores FLOW 3 one time the 1 is automatically entered Stores FLOW 4 three times Displays the CALC menu Calculates monthly IRR Stores the periodic monthly interest rate Calculates NPV Calculates NFV Example An Investment with Quarterly Cash Returns You
212. rterly rate Doing Other Calculations with CFLO Data If you 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 7 Cash Flow Calculations 107 File name English M02 1 040308 Print doc Print data 2004 3 9 8 Bonds The BOND menu calculates the yield to maturity or price of a bond It also calculates yield to call on a coupon date and accrued interest You can specify the E Calendar basis 30 360 or actual actual 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 E Coupon payments semi annual or annual Most U S bonds are semi annual The BOND Menu FIN BUS SUM TIME SOLVE CURRX TVM ICNV CFO BOND DEPRC TYPE SEIT MAT CPN CALL MORE YLD PRICE ACCRU MORE Pressing BONE shows you the BOND menu and the type of bond currently specified 38 36 or A A SEMIANNUAL or ANNUAL 108 8 Bonds File name English M02 1 040308 Print doc Print data 2004 3 9 Table 8 1 BOND Menu Labels Description TYPE SETT MAT CPH CALL LOM PRICE ACCRU Displays a menu of bond
213. rth withdrawal for senior year Done entering cash flows gets CALC menu Step 2 Calculate NUS for the monthly deposit Then calculate net present value Keys Display 9 12 Ix IX 6 75 HUS HUS i82 36 HPU HPV SiFfs 973 45 Description Figures the periodic monthly interest rate and stores it in 1 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 35 years how much will you have at retirement 2 How much will you have paid into the IRA 3 How much interest will you have earned 4 If your post retirement tax rate is 15 what is the 280 F RPN Selected Examples File name English M02 1 040308 Print doc Print data 2004 3 9 after tax future value of the account Assume only the interest will be taxed 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 FIN TM OTHER 1 PYR BEG i PAYRE BEGIN MODE 35 H H 35 68 8 175 IxvR I YE 8 18 2000 J PMT PMT 2 006 00 FY FU 387 648 45 PMT H 76 BBG BG RCL FY 317 640 45 15 47 646 07 Fi 339 994 39 FY FS339 994 39 Description Sets 1 payment
214. rue solution at all You can continue searching for other solutions by halting the calculation and entering a different guess One way to obtain a good guess for IRR is to calculate NPV for various interest rates 1 Since IRR is the interest rate at which NPV equals zero the best estimate of IRR is the interest rate that yields the value for NPV closest to zero To find a good estimate for IRR key in a guess for IRR and press Ix Then press MP to calculate NPV for that value Repeat the calculation of NPV for several values of 1 and look for trends in the results Choose as your guess for IRR a value of I that produces an NPV close to 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 solution by isolating the variable you are solving for the unknown Isolating a variable involves rearranging the equation so that the unknown variable is by itself on the left hand side of the equation For example suppose you enter the equation PROFIT PRICE COST If you ve stored values for PROFIT and PRICE pressing COST causes the Solver to internally rearrange the equation
215. s Using the BUS Menus Examples Using the BUS Menus Percent Change CHG Percent of Total TOTL Markup as a Percent of Cost MU C Markup as a Percent of Price MU P Sharing Variables Between Menus Currency Exchange Calculation The CURRX Menu Selecting a Set of Currencies Entering a Rate Contents File name English M02 1 040308 Print doc Print data 2004 3 9 5 59 59 60 61 64 66 67 71 74 77 78 82 85 85 87 91 94 95 97 98 98 99 100 107 6 Contents Converting between Two Currencies Storing and Recalling Sets of Currencies Clearing the Currency Variables Time Value of Money The TVM Menu Cash Flow Diagrams and Signs of Numbers Using the TVM Menu Loan Calculations Savings Calculations Leasing Calculations Amortization AMRT Displaying an Amortization Schedule Printing an Amortization Table Interest Rate Conversions The ICNV Menu Converting Interest Rates Compounding Periods Different from Payment Periods Cash Flow Calculations The CFLO Menu Cash Flow Diagrams and Signs of Numbers Creating a Cash Flow List Entering Cash Flows Viewing and Correcting the List Copying a Number from a List to the Calculator Line Naming and Renaming a Cash Flow List Starting or GETting Another List Clearing a Cash Flow List and Its Name Cash Flow Calculations IRR NPV NUS NFV Doing Other Calculations with CFLO Data File name English M02 1 040308 Print doc Print data 2004 3 9
216. s a constant in a calculation Remember to enter the constant second just before executing the arithmetic operation so that the constant is the last number in the X register and therefore can be saved and retrieved with fw LAST 96 74 52 39 E le Calculat xample Calculate 50 39 E RPN The Stack 273 File name English M02 1 040308 Print doc Print data 2004 3 9 Keys Display Description 96 74 36 74 52 39 i49 i3 Intermediate result fw LAST 2 33 Retrieves the number before the operation saved in LAST X 2 85 Final result Chain Calculations The automatic lifting and dropping of the stack s contents let you retain intermediate results without storing or reentering them and without using parentheses This is an advantage the RPN stack has over algebraic calculator logic Other features of RPN include the following m You never work with more than two numbers at a time E separates two numbers keyed in sequentially E Pressing an operator key executes that operation immediately E Intermediate results appear as they are calculated so you can check each step as you go E Intermediate results are automatically stored They reappear automatically as they are needed for the calculation the last result stored is the first to come back out m You can calculate in the same order as you would with pencil and paper that is from the innermost parentheses outward Ie HASUT RG D1 SOA can be solv
217. se menu labels are displayed For example if the calculator is in the FIN TVM menu it displays the labels H ae PU O PMT FY OTHER Pressing f PRINTER LIST now produces a print out like this EHO MODE Printing Number Lists To print out the contents of a particular SUM or CFLO list that list must be the current list Pressing gg PRINTER LIST while a SUM list named SALES is the current list produces labeled output like this HAME SALES VALUE i 466 66 9268 66 i i66 66 2 265 606 2 685 606 Printing Solver Equations To print one or all Solver equations display the main SOLVE menu press SOLVE H To print just the current equation press PRT E To print out the entire list of equations press ag PRINTER LIST 13 Printing 187 File name English M02 1 040308 Print doc Print data 2004 3 9 Printing Appointments To print all stored appointments display the APPT menu press APPT then press gg PRINTER LIST This produces a listing like this for each appointment i HED fr23 63 if BBA DEMO FOR SMITH RPT HONE Menus Not Associated with Stored Data Remember that many menu labels do not represent data but rather activities such as FIN BUS DELET and SET They contain no information for printing The calculator beeps if there is nothing to print when you press fw PRINTER LIST Printing Descriptive Messages MSG You can include descriptive messages with your printed output b
218. ses To enter one guess key in the value and press the menu key twice For example 4 5 A A enters 4 5 as a guess for a Solver variable named A and starts the calculation To enter two guesses key in the first guess and press the menu key Then key in the second quess and press the menu key twice For example O A 100 Ha A causes the Solver to search for A using O and 100 Example Using Guesses to Find a Solution Iteratively One equation for calculating the profit from a manufacturing operation is 12 The Equation Solver 181 File name English M02 1 040308 Print doc Print data 2004 3 9 Profit Price x Quantity Variable costs x Quantity Fixed Costs The C Sharp Piano Corporation sells pianos for 6 000 Variable costs are 4 100 fixed costs per year are 112 000 How many pianos must C Sharp sell this year in order to earn a profit of 130 000 In past years C Sharp has had to sell between 100 and 200 pianos to make an acceptable profit You can use this information as initial guesses Press SOLWE NEW then enter the equation PROFIT PRICE xX QTY VARCOST Q TY FIaAcosT Keys Display Description CALC Stores verifies and creates labels for the equation 6000 PRICE PRICE 6 686 668 Stores price 4100 MARCO VARCOST 4 166 66 Stores variable cost 112000 FIsCO FIXCOST 112 686 88 fixed cost and profit 130000 FROFI PROFIT i36 666 B6 The following steps enter guesses for QTY If the Solver must sea
219. sh M02 1 040308 Print doc Print data 2004 3 9 Calculate the cost of carpet needed to cover a 9 by 12 room The carpet costs 22 50 per square yard Starting from the MAIN menu press gg MAIN Keys Display SOLVE PeYOxLeH 39 COST CALC 22 5 Sa PevYO 22 58 12 ie L i2 66 9 H H 88 COST COST 278 66 Description Displays the SOLVE menu and the current equation Displays the customized menu for carpeting Stores the price per square yard in P YD Stores the length in L 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 COST COST 366 a8 P ro PzYD 25 06 Stores 300 in COST Calculates the maximum price per square yard you can poy Exits Solver If you entered this equation but don t see it now press 4 or until you do 1 Getting Started 33 File name English M02 1 040308 Print doc Print data 2004 3 9 Controlling the Display Format The DSP menu press DSP gives you options for formatting numbers You can pick the number of decimal places to be displayed and whether to use a comma or a period to punctuate your numbers SELECT DISPLAY FORMAT Cam Decimal Places To change the number of displayed decimal places firs
220. sign precedes the number See Adding or Subtracting a Percentage below For instance 25 results in 25 To find 25 of 200 press 200 25 Result is 56 66 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 156 88 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 4 7 i 256 66 87 356 Interest on the loan is 87 50 E i337 50 You must repay this amount at the end of one year The Mathematical Functions Some of the math functions appear on the keyboard others are in the MATH menu Math functions act on the last number in the display 40 2 Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 Table 2 1 Shifted Math Functions Description reciprocal square root square Keys Display Description 4 lx 8 25 Reciprocal of 4 20 Lx 4 47 Calculates J 20 V 47 2 Ti 67x Calculates 4 47 47 20 V11 we i 6rxi 2i Calculates 1 17 Ve 62 52 Completes calculation of 4 47 47 2 x1 1 V The Power Function Exponentiation The power function y raises the preceding number to the power of the following number Keys Display Description 125 wO 3 G 1 353 125 66 Calculates 125 125
221. splays TVM menu OTHER Sets 12 payment periods 12 Per per year Begin mode BEG i2 PYR BEGIN MODE 36 H H 36 66 Stores number of payments 74 5 Time Value of Money File name English M02 1 040308 Print doc Print data 2004 3 9 14 ISR InYR 14 66 Stores annual interest rate 13500 Stores car s value in PV Pay PY 13 5868 66 Money paid out by lessor 7500 F4 FS 566 B6 Stores purchase option value in FV Money received by lessor PHT PMT 289 12 Calculates monthly payment received Example Present Value of a Lease with Advance Payments and Option to Buy Your company is leasing a machine for 4 years Monthly payments are 2 400 with two payments in advance You have an option to buy the machine for 15 000 at the 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 PV N 47 I YR 18 P YR 12 Begin mode 2x PMT PMT 2 400 4 800 FV 15 000 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 calculated present value This adds a second advance payment to the beginning of the leasing period replacing what would have been the final 48th payment 3 Find the present value of the buy option 4 Add the present values calculated in steps 2 and 3 5 Time Value
222. 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 to be x distributed with n 1 degrees of freedom if n or some of the E values are large 14 Additional Examples 219 File name English M02 1 040308 Print doc Print data 2004 3 9 In other words it tests whether discrepancies between the observed frequencies O and the expected frequencies E are significant or whether they might reasonably result from chance The equation is 2_ O F P R E If there is a close agreement between the observed and expected frequencies x will be small If the agreement is poor x will be large Solver Equations for x Calculations If the expected value is a constant CHI ECI i S1ZES namely i I TEM namel 13 EaP3a 2 ERP a If the expected values vary CHIZ EcT i SIlZES namelii iITEMt namel 13 ITEM name2 139 2 1ITEM name2 133 To enter the character press M amp YZ OTHER MORE a CHI2 the final x value for your data name 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
223. stored in the previous example to calculate how many U S dollars you would receive for 3 000 Hong Kong Dollars Keys Display Description 3000 HK HE 3 888 66 Store number of HK Us US 384 68 Calculates equivalent US Part 2 A wool sweater in a shop window costs 75 US What is its cost in HK Dollars Keys Display Description 75 US USS 75 66 Store number of US HK HES 585 62 Calculates equivalent HK Storing and Recalling Sets of Currencies Pressing 8T0 or C RCL 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 Currencies To store the current set of currencies and the rate press Then press ST0 any menu key to assign the set to that key For example storing the currencies in the previous example stores currency 1 HK currency 2 US and RATE 0 1282 The values US 75 and HK 585 02 are not stored 4 Currency Exchange Calculation 59 File name English M02 1 040308 Print doc Print data 2004 3 9 Recalling Sets of Currencies To recall a stored set of currencies and their exchange rate press RCL followed by the appropriate menu key The hp 17bll automatically returns to the CURRX menu The equivalency message and menu labels show the recalled currencies and RATE Clearing the Currency Variables Pressing ga CLR DATA whi
224. t 126 in equations 166 67 inserting and deleting 31 32 Chi squared 219 20 Clearing 20 CHG variables 50 T variables 50 AMRT variables 80 appointments 146 148 BOND variables 109 BUS variables 50 calculator memory 28 29 CFLO lists 95 99 ICNV variables 86 menu variables 28 menus 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 Conditional expressions 174 76 Constant numbers RPN 271 272 Constants in equations 166 CONT menu 86 Continuous compounding calculating interest for 85 Continuous Memory 37 erasing 225 229 using 17 Contrast of display changing 17 Conventional investments definition 101 Converting interest rates 85 87 Correlation coefficient 132 Index 293 File name English M02 1 040308 Print doc Print data 2004 3 9 Cost Customer Support 222 markup on 49 52 of capital 101 D oe variable in summation a unclion 22 in CFLO menu 92 Coupon in Solver menu 157 164 basis 108 9 in SUM menu 122 127 payments 108 ce 115 Creating DEL 32 a CFLO list 94 96 99 a new equation in the So
225. t key If you ever press f by mistake just press aa again to turn off the __4 Backspacing and Clearing The following keys erase typing mistakes entire numbers or even lists or sets of data 1 Getting Started 19 File name English M02 1 040308 Print doc Print data 2004 3 9 Table 1 2 Keys for Clearing Key Description Backspace erases the character before the cursor CLR Clear clears the calculator line When the calculator is off this key turns the calculator on but without clearing anything f CLR DATA This clears all information in the current work area menu For example it will erase all the numbers in a list if you are currently viewing a list SUM or CFLO In other menus like TVM f CLR DATA 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 Backspacing removes 66 i23 66i the 4 and 5 B Bi Calculates 1 123 66 4 8 66 Clears the calculator line In addition there are more drastic clearing operations that erase more information at once Refer to Resetting the Calculator on page 228 in appendix A 20 1 Getting Started File name English M02
226. t press the key Then either E Press FIX type the number of decimal places you want from O to 11 and press LINPUT J or E Press ALL 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 number inside the calculator always has 12 digits i4 87456328019 You see only these j digits are digits in FIX 2 also present internally Temporarily SHOWing ALL To temporarily see a number with full precision press SHOW This shows you the ALL format for as long as you hold down SHOW 34 1 Getting Started File name English M02 1 040308 Print doc Print data 2004 3 9 Rounding a Number The f RND function rounds the number in the calculator line to the number of displayed decimal places Subsequent calculations use the rounded value Starting with two displayed decimal places Keys Display Description 5 787 a rori DSP FIX Four decimal places are 4 INPUT 3 7878 displayed DSP ALL 3 787 All significant digits trailing zeros dropped DSP FIX Two decimal places are 2 3 73 displayed fw SHOW FULL PRECISION I Temporarily shows full hold 2 787 precision fw RND Rounds the number to two f SHOW hold Zro decimal places Exchanging Periods and Commas in Numbers To exchange the periods and commas used f
227. the annual premium amount LVAL the value of the policy at the end of last year 1 the rate of return as a percent on a savings account VAL the value of the policy at the end of the current year DIV the dollar value of the dividend for one year FACE the face value of the policy for one year The following example assumes that you have entered the above equation into the Solver For instructions on entering Solver equations see Solving Your Own Equations on page 30 14 Additional Examples 213 File name English M02 1 040308 Print doc Print data 2004 3 9 Example Insurance Policy You are evaluating your 50 000 insurance policy The premium of 1 010 is due at the beginning of the year and a dividend of 165 is received at the end of the policy year The cash value of the policy is 3 302 at the beginning of the year it will grow to 4 104 by the end of the year You can earn 6 on a savings account What is the annual price per 1 000 protection Select the correct equation in the Solver Keys Display Description CALC Creates menu 1010 PREM PREMN i 616 668 Stores annual premium 3302 LVAL LVAL 3 282 86 Stores value of policy at end of last year 6 Ik I 6 448 Stores interest rate you could get elsewhere 4104 VAL VAL 4 184 86 Stores value of policy at end of this year MORE Stores annual dividend 165 OV DiV 165 668 50000 FACE FACE 56 0600 06 Stores face value of policy MORE INS INS 6
228. the coupon rate equals the yield whether or not the settlement date is a coupon date The BOND menu does not use this convention To calculate the price or yield of a bond 1 Display the BOND menu press FIN BOND 2 Press CLA DATA This sets CALL 100 3 Define the type of bond If the message in the display does not match the type you want press TYPE Calendar basis Interest period A368 SEMIANNUAL 360 AeA SEMT ANN m Pressing 368 sets the calendar basis to a 30 day month and a 360 day year m Pressing AFA sets the calendar basis to the actual calendar month and to the actual calendar year m Pressing SEMI sets semi annual coupon payments m Pressing ANN sets annual coupon payments Press to restore the BOND menu 4 Key in the settlement date MM DDYYYY or DD MMYYYY depending on the date format see chapter 11 and press SETT 5 Key in the maturity date or call date and press MAT 6 Key in the coupon rate as an annual percent and press CFH 7 Key in the call value if any and press CALL For a bond held to 110 8 Bonds File name English M02 1 040308 Print doc Print data 2004 3 9 maturity the CALL value must equal 100 See step 3 8 To calculate a result first press MORE to access the remaining menu labels Do either a or b a Key in the yield and press YLO Press PRICE to calculate the price b Key in the price and press PRICE Press YLO to calculate the
229. tic 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 2 E ENER 3 CISTO 2 aC 3 ETO 5 register 5 5 Find PV 2 FIH TuM RCL FIH TuM RCL PY 2E PY 02B Find PV less 2 FIH Tuti RCL FIH TuM RCL PY 2 6 PY 62 Find PMT x N FIH TuM RCL FIH TuM RCL PMT RCL H FMT x RCL H Chain Calculations No Parentheses The speed and simplicity of calculating using RPN are apparent during chain calculations longer calculations with more than one operation The RPN memory stack refer to appendix E stores intermediate results until you need them then inserts them into the calculation 266 D RPN Summary File name English M02 1 040308 Print doc Print data 2004 3 9 The cube root example and the percentage addition example previous topics are two simple examples of chain calculations For another example calculate 7x 1243 Start the calculation inside the parentheses by finding 12 3 Notice that you don t need to press to save this intermediate result 15 before proceeding Since it is a calculated result it is saved automatically without using parentheses Keys Display Description 12 3 i5 86 Intermediate result 7 165 86 Pressing the function key produces the answer Now study these examples Note the automatic storage and retrieval of intermediate results To Ca
230. tive cash flows are reinvested at a reinvestment rate that reflects the return on an investment of comparable risk An average return rate on recent market investments might be used 1 In the CFLO menu calculate the present value of the negative cash flows NPV at the safe rate and store the result in register O Enter zero for any cash flow that is positive 2 Calculate the future 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 I YR to calculate the periodic interest rate This is the modified internal rate of return MIRR Example Modified IRR An investor has an investment opportunity with the following cash flows Group No of Months FLOW no TIMES C84 Flow 0 1 180 000 1 5 100 000 2 5 100 000 3 9 0 4 1 200 000 Calculate the MIRR using a safe rate of 8 and a reinvestment risk rate of 13 Keys Display Description FIN CFLO Displays current cash flow list m CLR DATA YES Clears current list or gets a 210 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 or GET HEH 180000 0 5 INPUT 100000 5 CALC V8 amp 12 Ix HP sto O fan CLR DATA O INPUT YES 100000 5 0 FLOW CB 3 7 FLOW i TIMES is i FLOW
231. tive numbers available on the calculator are 9 99999999999 x 10 4 the smallest positive and negative numbers available are 1 x 10 48 2 Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 Percentage Calculations in Business The business percentages BUS menu is used to solve four types of problems Each type of problem has its own menu FIN BUS SUM TIME SOLVE CURRX CHG TOTL MU C MU P Table 3 1 The Business Percentages BUS Menus C m oen Percent change The difference between two numbers OLD and XCHG NEW expressed as a percentage CH of OLD Percent of total The portion that one number PART is of another xTOTL TOTAL expressed as a percentage T Markup on cost The difference between price PRICE and cost MUSC COST expressed as a percentage of the cost MZC Markup on price The difference between price PRICE and cost MUP COST expressed as a percentage of the price MZP 3 Percentage Calculations in Business 49 File name English M02 1 040308 Print doc Print data 2004 3 9 The calculator retains the values of the BUS variables until you clear them by pressing gg CLR DATA For example pressing f CLR DATA while in the CHG menu clears OLD NEW and CH To see what value is currently stored in a variable press menu label This shows you the value without recalculating it Using the BUS Menus Each of the fou
232. tory stack 43 20 32 272 174 x 41 VY 16 17 262 im print annunciator 184 TIMES 96 97 A 174 1 1 A A r ACRSX 115 ACRS 115 56 Index 289 Print data 2004 3 9 ALG 36 262 ACCRU 109 ALL key 34 APT1 through APTIG 145 APM appointment setting menu 145 ABS absolute value function 169 Accrued interest on bond 109 111 Accuracy of the clock 230 Acknowledging appointments 147 Actual calendar actuarial equations 246 for arithmetic 149 for bonds 110 Addition 21 ADJST menu 144 Advance payments 74 77 199 200 253 See also Leasing Algebraic mode 36 262 rules in equations 164 66 ALOG 169 Alphabetic keys 30 32 ALPHAbetic menu 30 AM PM format 143 Amortization calculations 77 81 equations 247 schedule 78 290 Index File name English M02 1 040308 Print doc 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 printing 188 setting 146 47 unacknowledged 146 148 APPT menu 145 APR for with fees RPN 276 calculations 67 71 interest only 194 interest only RP
233. tuation might be the result of an error such as a mistake in keying in the cash flows A common mistake is to put the wrong sign for a cash flow A valid cash flow series must have at least one positive and one negative cash flow Halting and Restarting the IRR Calculation The search for IRR may take a relatively long time You can halt the calculation at any time by pressing any key The calculator then displays the current estimate for IRR You can resume the calculation by E Pressing IRR while the current estimate is displayed in the calculator line This continues the calculation from where it left off E 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 IRR You can enter a guess for IRR at these times m Before beginning the calculation This can reduce the time required to calculate an answer m After you ve halted the calculation E After the calculator has halted the calculation due to any of the above cases For cases 3 and 5 however no other solutions will be found When calculating IRR using a guess the calculator displays the current estimate of IRR and the calculated value of NPV for each iteration The calculation halts when the calculator finds an answer However there B More About Calculations 239 File name English M02 1 040308 Print doc Print data 2004 3 9 may be additional positive or negative answers or no t
234. two examples The annual percentage rate APR incorporates fees usually charged when a mortgage is issued 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 money received is positive 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 60 000 for 30 years and the interest rate is 112 annually with monthly payments what APR is the borrower paying 14 Additional Examples 193 File name English M02 1 040308 Print doc Print data 2004 3 9 1 Since the payment amount is not given calculate it PMT first Use the given mortgage amount PV 60 000 and interest rate I YR 111 2 To find the APR the new YR use the PMT calculated in step 1 and adjust the mortgage amount to reflect the points paid PV 60 000 2 All other values remain the same term is 30 years no future value Keys FIN Tun OTHER fan CLR DATA 30 a H 11 5 k R 60000 Fw QO FY PHT RCL Pi VO28 Py Ink Display iz PYR EMO MODE
235. u review the entire contents of the stack by rolling the contents downward one register at a time While in RPN mode you don t need to press the shift key for RY The key has the same effect as Ri except in a CFLO or SUM list when F affects the list and not the stack Likewise the a key rolls the contents of the stack upward except in lists Rolling a Full Stack Suppose the stack is filled with 1 2 3 4 press 1 2 3 4 Pressing four times rolls the numbers all the way around and back to where they started X lt N When you press Ri 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 CLR DATA reduces the stack to one register X with a zero in it As you enter numbers the stack builds up again The and 4 functions roll through as many registers as currently exist one two three or four Exchanging the X and Y Registers in the Stack Another function that manipulates the stack contents is 2 x exchange y located on the key It swaps the contents of the X and Y registers without affecting the rest of the stack Pressing again restores the original order of the contents While in RPN mode you don t need to press the shift key for y E RPN The Stack 269 File
236. ulations 251 File name English M02 1 040308 Print doc Print data 2004 3 9 Let Tea yo 2 n n SX2 X X X2 2 YP SXY X NY N SXY Then M 2 5X2 B b for LIN and LOG models and B e for EXP and PWR models where b Y MX SXY VSX2 x SY2 CORR Equations Used in Chapter 14 Canadian Mortgages N PV PMT rea an ats FV A F a where r 1 1 200 N total number of monthly payments CI YR annual interest rate as a percent PV loan amount PMT monthly payment FV balloon payment 252 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 Odd Period Calculations py i ix 30 14 ix S x PMT x e FY A Where PV loan amount i periodic interest rate as a decimal DAYS actual number of days until the first payment PMT periodic payment amount N total number of payments FV balloon payment amount S 1 if DAYS lt 30 S 0 if DAYS 30 Advance Payments PV FV 1 a 1 1 tan i PMT ADV 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 Yn NFV MIRR 1 7 1 o e where n total number of compounding periods NFV net future value of positive cash flows NPV net present value of negative
237. unctions gain access to these lists m SizZeEc CFlO listname2 returns the number of the last flow in the specified CFLO list For example if the last flow in the list INV were FLOW 6 gt 5 868 86 then SIZEC IHY3 would equal 6 00 m FLOW lt CFLO listname flow number returns the value of the specified flow m 7 CFLOListname flow number returns the number of times the specified flow occurs m SIZES SUM listname returns the number of items in the specified SUM list E ITEM SUM lisiname item number returns the value of the specified item Summation of List Data The function can be used to sum calculations done with numbers in lists For example the following equation calculates x y for values stored in two SUM lists named XVAR and YVAR which must have the same number of items SaevYe2 EeT i 5 IZES CaVARS i i TEM AVAR Dace IT EMCYWAR 17423 12 The Equation Solver 177 File name English M02 1 040308 Print doc Print data 2004 3 9 Chi Squared Statistics in chapter 14 illustrates another use of the function with SUM lists Creating Menus for Multiple Equations S Function The S solving for function is used in conjunction with the IF function to group related equations together and to specify the criteria for choosing one of them to solve S variable name The advantage over two separate equations is that the single equation gives you a single menu with all possible variables That way
238. wl 3 Calculates the cube root of we Gx 7 48 125 which is the same as 125 3 2 Arithmetic 41 File name English M02 1 040308 Print doc Print data 2004 3 9 The MATH Menu To display the MATH menu press gg MATH the shifted key Like the other mathematics functions these functions operate on only the last number in the display Table 2 2 The MATH Menu Labels Common base 10 logarithm of a positive number Common base 10 antilogarithm calculates 10 Natural base e logarithm of a positive number Natural antilogarithm calculates e Factorial Inserts the value for 7 into the display Keys Display Description 2 5 fgg MATH Calculates 1025 lens 316 23 4 H 24 66 Calculates the factorial of 4 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 MATH then perform the calculation Pressing returns you to SUM The MATH result remains in the calculator line Remember however that you must exit MATH before you resume using SUM 42 2 Arithmetic File name English M02 1 040308 Print doc Print data 2004 3 9 Saving and Reusing Numbers Sometimes you might want to include the result of a previous calculation in a new calculation There are several ways to reuse numbers The History Stack of Numbers When you start a new operation the previous result moves out of the dis
239. wn variable until the numbers in the display stop changing At this point the Solver is displaying the final estimates and the signs of LEFT RIGHT for each estimate APL 1 P9455n4ods4 O AF1 1 r9458049433 This information can be helpful m 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 m Case 2b If the signs of LEFT RIGHT are opposite and the two estimates are not neighbors be very cautious about accepting the answer as a solution If LEFT and RIGHT are relatively close together the answer is probably a solution m Case 2e If LEFT RIGHT for the two estimates have the same sign the Solver has halted because it could find no estimates that further reduced the magnitude of LEFT RIGHT Be very cautious about accepting the answer If the values of LEFT and RIGHT are not relatively close to one another you should reject the answer 244 B More About Calculations File name English M02 1 040308 Print doc Print data 2004 3 9 LEFT RIGHT LEFT RIGHT l I l Estimate Estimate So Oe Case 2a Case 2b LEFT RIGHT have opposite LEFT RIGHT have opposite signs The two estimates are signs The two estimates are neighb
240. x F for RPN keystrokes for this example 202 14 Additional Examples File name English M02 1 040308 Print doc Print data 2004 3 9 Suppose you want to start saving now to accommodate a future series of cash outflows An example of this is saving money for college To determine how much you need to save each period you must know when you ll need the money how much you ll need and at what interest rate you can invest your deposits Use a CFLO list to calculate the net uniform series NUS of the future withdrawals 1 Store zero for all cash flows except the withdrawals For those cash flows store the amounts you will need to withdraw since this is cash received these cash flows will be positive 2 Store the periodic interest rate in 1 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 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 and 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 The cash flow diagram looks like this 14 Additional Examples 203 File nam
241. y using MSE 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 fad PRINTER then MSG This brings up the ALPHA menu 2 Type and edit the label or message 3 Press to print out the label or message Now print out the number itself if it s in the calculator line press PRT Trace Printing TRACE Trace printing produces a record of all the keys you ve pressed and of calculated results When tracing is off use and gg PRINTER to print what you want When tracing is on the calculator uses more power and operates more slowly To switch trace printing on and off 1 Press gg PRINTER 188 13 Printing File name English M02 1 040308 Print doc Print data 2004 3 9 a 2 Press TRACE to change the setting A message informs you that tracing is on or off If necessary press TRACE again to display the desired message 3 Press EXIT Example Trace Printing an Arithmetic Calculation Produce a record of the keystrokes you use to do the following calculation and store the result in the TVM variable PMT 1 x 4 800 125 Press PRINTER TRACE to set PRINT MODE TRACE ON If you see PRINT MODE TRACE OFF press TRACE again Keys Print out EXIT FIN FIH Tuhi TVM 12 a x 12 66 ik G BS XE VK x V 4800 4 900 00 V125 amp 125 06 525 06 t PMT FMT m PRINTER PRINTER TRACE
242. yield To calculate the accrued interest press ACCRU The total amount owed V the seller is PRICE ACCRU that is PRICE ACCRU Calculating Fractional Values When given a fractional value that must be entered in decimal form do the arithmetic and then store the result 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 8 in YLD Example Price and Yield of a Bond What price should you pay on August 10 2003 for a 634 U S Treasury bond that matures on May 1 2018 if you wish a yield of 8 The calendar basis is actual actual and the coupon payments are semi annual The example assumes MM DDYYYY date format Keys Display Description FIN BOND Since there is no call on fa CLR DATA this bond set CALL 100 by clearing variables TYPE AR Sets bond type if SEMI A A SEMTANHUAL necessary 8 102003 Stores settlement SETT SETT purchase date BS i8 2hes SUH 5 012018 Stores maturity date 8 Bonds 111 File name English M02 1 040308 Print doc Print data 2004 3 9 MAT MAT 85 8i1 2618 TUE 6 75 CPHs CPHA 6 75 Stores annual coupon rate MORE Stores desired yield V3 E 8 8 displayed rounded to two LDZ YLIX 8 38 decimal places PRICE PRICE 86 38 Result price is 86 38 per 100 face value Vf RCCRU 6 38 1 55 Adds accrued interest owe

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