HP 10bII+ Financial manual Jæjg, Amortization, Amortize the 1 st through 24 th loan payments

Page 16

Amortization

After calculating a payment using Time Value of Money (TVM), input the periods to amortize and press \Ê. Press \Êonce for periods 1-12, and once again for payments 13-

24. Press 4to continually cycle through the principal, interest, and balance values (indicated

by the PRIN, INT, and BAL annunciators respectively). Using the previous TVM example, amortize a single payment and then a range of payments.

Amortize the 20th payment of the loan.

Table 1-15 Amortizing the 20th payment of the loan

KeysDisplayDescription

 

G:Æ

20.00

Enters period to amortize.

 

 

 

 

 

 

\Ê

20 – 20

Displays period to amortize.

 

 

 

 

 

 

4

-7.25

Displays principal.

 

 

 

 

 

 

4

-115.61

Displays interest. (Money

 

 

 

 

 

paid out is negative).

 

 

 

 

4

13,865.83

Displays the balance

 

 

 

 

 

amount.

 

 

 

Amortize the 1st through 24th loan payments.

 

 

Table 1-16 Amortization example

 

 

 

 

 

 

 

Keys

Display

Description

 

 

 

 

 

JÆJG

12_

Enters range of periods to

 

 

 

 

 

amortize.

 

 

 

 

\Ê

1 – 12

Displays range of periods

 

 

 

 

 

(payments).

 

 

 

 

4

-77.82

Displays principal.

 

 

 

 

 

 

4

-1,396.50

Displays interest. (Money

 

 

 

 

 

paid out is negative).

 

 

 

 

4

13,922.18

Displays the balance

 

 

 

 

 

amount.

 

 

 

 

\Ê

13 – 24

Displays range of periods.

 

 

 

 

 

 

4

-85.96

Displays principal.

 

 

 

 

 

 

8 At a Glance...

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Contents HP 10bII+ Financial Calculator User’s Guide HP Part Number NW239-90001 Edition 1, MayLegal Notice HP 10bII+ Financial Calculator Keyboard Map Legend NumberTable of Contents Page Page III At a Glance JGDBasics of Key Functions Shift Keys Boxed Key FunctionsJj7V1 JV§4Percentages Add 15% toJVÀ GG¼DDà Memory KeysGV4 GG4J7GV JG\Í DSÙJYÏ Time Value of Money TVMJyÌ D7VÒTVM What if How much can you borrow at a 9.5% interest rate?Amortization JæjgAmortize the 1 st through 24 th loan payments Depreciation Interest Rate Conversion \½\« Cash Flows, IRR/YR, NPV, and NFVYy¤ Yj¤JÆG¤ GD¤VG4 G7GgGJDate and Calendar Bonds Y7jVÔ S7jVÎFor more information on bond calculations, refer to , Bonds Break-even \k \« \T \«\h \« \e \«GÆV¡ YÆd¡SÆJS¡ \T\«\5V 7VF17GV4 ProbabilityTrigonometric Functions 7SGFind Sin θ =.62 in degrees. If RAD is displayed, press Convert the results to radians using Pi \aJgAt a Glance Power On and Off Getting StartedManual Conventions and Examples Displayed textItem before the / is the alternate Shift Keys GY7jJ1SG7Yj4 JdPJG7Sg4Simple Arithmetic Calculations Operating ModesCalculations in Chain Mode 1JJV7V4S7dPV7DVa 7dJ4Calculations in Algebraic Mode Using Parentheses in CalculationsDa\qgVA JG\nJVy AD4Understanding the Display and Keyboard Cursor Clearing the CalculatorClear All AnnunciatorsClearing Messages INV Input Key Swap KeyStatistics Keys Same as pressingGd7GV\B D7Vj1G7DS\bMath Functions One-Number FunctionsGetting Started \5Y JVcJ1SC 7DVoRA7SGoR \5GYP\ PY7V\2J7GVrc 17VdrCTwo-Number Functions In-line FunctionsJj\¨ JjÆGd\¨ Gd1DDArithmetic with One-and Two-number Functions -23below lists the two-number functions of the calculatorG7V\K JGV\QD4VAJ7GV4 \Qv4GG1JY\¨ Last Answer\5D YV7SP7JGVS4 Specifying Displayed Decimal Places\54 Jaj4\zyJG D7gjSVYD MessagesGV§ Business PercentagesBusiness Percentage Keys Percent keyJGV1j§ GdJ7j\¨DJS7g4 JgpvæGvvà JdÀMargin and Markup Calculations Margin CalculationsD7SÀ Using Margin and Markup TogetherJVà Using Stored Numbers in Calculations Using ConstantsV1Gª Number Storage and Storage Register ArithmeticJ1J§ª \QDªExample Calculate 10 + 10%, 11 + 10%, and 25 + 10% Example Calculate 23VV\¨DGª Using the M RegisterYV4 Using Numbered Registers JjsJY7GVm JS7dVmYjV7S \w7Y ADd7JV \wGVS7J1 V7YG7V YV7j \wD\wPD Picturing Financial Problems How to approach a Financial ProblemSigns of Cash Flows Periods and Cash FlowsSimple and Compound Interest Simple InterestInterest Rates Compound InterestTwo Types of Financial Problems Recognizing a TVM ProblemRecognizing a Cash Flow Problem Cash flow diagram Borrower’s perspectiveCash flow diagram Investment in a mutual fund Time Value of Money Calculations Using the TVM ApplicationTVM Keys Begin and End Modes Loan CalculationsDpjgù J7VÒJyva JVÏDjVyÌ 1VÌ1JV4 DDyÌ J7VÒ1JG4 JjGVÏ GV\ÚG7gÒ 1vÌ4 YgÙSavings Calculations GyÏ J7GÒGY\Í GyÌJV\Ú S7DÒYyÏ Cash flow diagram Calculate the monthly lease payment Lease CalculationsCash flow diagram Calculate PV of the lease JVÉYjÙ GYyÌ1vÌy4 Step Find the present value of the buy option1p4 JVyÉStep Add the results of ’ ’ and ’ ’ To Amortize Amort key on the HP 10bII+ allows you to calculateJ7jVÒ JJ7VÒ JdægyJygvï VYÆ GVÆAmortize the 1st, 25th, and 54th payments S7j\Ó Interest Rate ConversionsInvestments With Different Compounding Periods First BankS7SV\Ó S7SD\ÓDS\Í Compounding and Payment Periods DifferDSV\Í GVyÌResetting the TVM Keys Depreciation Depreciation KeysItem in the selected format Inputs 5 for the expected useful life Depreciation example using Declining Balance Keys How to Use the Cash Flow Application Cash Flow CalculationsClearing the Cash Flow Memory Number1 ¤Cash Flow Calculations Gy¤ Vy¤Calculating Internal Rate of Return JJjSV7Gd¤ AJGNPV and IRR/YR Discounting Cash Flows Organizing Cash FlowsJJy¤ Initial cash flow and cash flow groupsViewing and Editing Cash Flows 11GÆ 1JGyÆ1G JVÆ1GÆCalculating Net Present Value and Net Future Value VÆJ¤ ÆY¤VÆG¤ JVÆJ¤ Æd¤JÆJ¤ JVÒCash flow diagram Calculates NPV Automatic Storage of IRR/YR and NPVCalendar Format Calendar Formats and Date CalculationsDate Format Using the Input key Date Calculations and Number of Days Date CalculationTo enter the data for this example using the Ækey JG7JgGJJ\ÇJ4 ÆJ\Ç\5S Y7SGJ\ÄDJ7JGJ4 J7JjGJGJ7JjGJGÆ Using the ÆkeyS7YGJV\Ä Bonds Bond KeysY7GgGJ S7YGG V7VÎJYË JJÑJ7JVGG Resetting the bond keysY7JVGJG Break-even Break-even KeysBreak-even example Calculating the projected maximum fixed cost Resetting the Break-even keys \k\« \h\«\e\« \Z\«Clearing Statistical Data Entering Statistical DataTwo-Variable Statistics and Weighted Mean One-Variable StatisticsViewing and Editing Statistical Data DVÆVJV¡ DGÆYJV¡YD\W\5G DjÆSgV¡ YDÆJGD¡YV\W Summary of Statistical Calculations Y7V¡ D7GV¡D7V¡ D7jV¡JdDÆd¡ JgGÆgJ¡JjjÆgD¡ JgVÆjj¡400 GÆJY¡ JÆdG¡DÆJJ¡ VÆGGSV¡ VÆGgd¡Weighted Mean VÆVY¡ VVÆDG¡VJÆgg¡ VJSÆdG¡Factorial Probability CalculationsPermutations VD4 VÆDV9D4 VÆD9YG\w6 Advanced Probability DistributionsJ7jyF Normal Lower Tail Probability7GVoF Inverse of Normal Lower Tail ProbabilityGÆJ7gSyI GIJ7gSy4Students T Probability Lower Tail GSÆ7VoI GSoI7V4Inverse of Student’s t Probability Lower Tail Y1J4 Conversions from Lower TailJ7GyF PG4Returns desired value of z Statistical Calculations Setting a Sales Price \qJ1\q GaJ4Additional Examples Business ApplicationsJÆJ¡ GÆJJGJ¡DÆJDS¡ YÆJSjV¡ VÆGVd¡Gpdspj \q\qJ AG\n\qDA YVsPJ§AJPJ4 Jg§YVjG7gy Yield of a Discounted or Premium Mortgage VÙAYGÙ JdyÏG7VÒ Annual Percentage Rate for a Loan With FeesJSÏ AG§ÏJGÒ AD§ÏAJGP JSaDPYV\«§4 1YVÏJgvï D7VÒPvÙ4 JjvïJG\Ó JDÏÉD\Ú Canadian MortgagesDVVVyÌ JJ7GÒWhat if … TVM Calculations GS\Í PvÙ1VÏ4 SavingsStores effective rate as annual Jyyù Gains That Go Untaxed Until WithdrawalPJV§4 DVÙYòìï G7JjVAGg DyÌCash Flow Examples Wrap-Around MortgagesCash flow diagram Wrap-around mortgage GGVJ7GGDVy¤ VÌyAjVYGG\¥ VÌy¤Power and Batteries Low Power AnnunciatorInstalling Batteries Appendix a Batteries and Answers to Common QuestionsDetermining if the Calculator Requires Service Resetting the calculatorCalculator won’t turn on Erasing the calculator’s memorySee Determining If the Calculator Requires Service Answers to Common QuestionsEnvironmental Limits IRR/YR Calculations Appendix B More About CalculationsEquations Payment Mode Factor S = 0 for End mode 1 for Begin mode Time Value of Money TVMAmortization Interest Rate ConversionsCash-Flow Calculations Bonds For more than one coupon period to redemptionDepreciation StatisticsForecasting Appendix C Messages Memory has been erased ChCashflow memory was cleared Tvm registers were clearedBond registers were cleared Statistical memory and registers were clearedWarranty, Regulatory, and Contact Information HP Limited Hardware Warranty and Customer CareLimited Hardware Warranty Period Replacing the BatteriesGeneral Terms ExclusionsModifications Avis Canadien Canadian NoticeEuropean Union Regulatory Notice Germany Perchlorate Material special handling may apply Customer Care Contact Information香港特別行 ไทย Tobago Tunisia Turkey Türkiye Turks 01-800-711-2884Warranty, Regulatory, and Contact Information Warranty, Regulatory, and Contact Information Advance payments Algebraic mode BatteryChain mode Error messages FactorialIn-line functions Interest Interest rate conversions InvestmentsKeyboard KeysTrigonometric functions Troubleshooting WarrantyModes Operating modes Parentheses
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10bII+ Financial specifications

The HP 10bII+ Financial Calculator is a versatile and powerful tool designed to meet the needs of finance students, professionals, and anyone involved in financial planning and analysis. Known for its compactness and user-friendly interface, this calculator incorporates a range of features specifically tailored for financial calculations, making it an essential gadget for banking, real estate, and investment analysis.

At the heart of the HP 10bII+ is its ability to perform a wide variety of financial functions, including time value of money calculations, cash flow analysis, bond pricing, and depreciation. Its built-in functions facilitate the computation of interest rates, present and future values, net present value (NPV), internal rate of return (IRR), and annuities. This array of functionalities allows users to tackle complex financial problems with ease.

One of the standout technologies in the HP 10bII+ is its RPN (Reverse Polish Notation) input system, which allows for efficient data entry and calculation. Users can perform consecutive calculations without the need for parentheses, streamlining the process significantly. Alternatively, the calculator can also function with a standard algebraic input, catering to different user preferences.

The design of the HP 10bII+ is sleek and compact, making it highly portable and easy to handle. With a large, easy-to-read display, it ensures that users can view their calculations clearly, even in low-light environments. The keys are well-spaced and tactile, allowing for a comfortable typing experience during intensive calculations.

The calculator also offers a range of memory functions, enabling users to store and recall important values easily. This is particularly useful for financial professionals who must deal with multiple calculations and refer back to previous results frequently.

Additionally, the HP 10bII+ is powered by two AAA batteries, providing a long battery life that ensures reliability during extended use. It also features an automatic shut-off function, which conserves battery life when the calculator is not in use.

In summary, the HP 10bII+ Financial Calculator is a high-performance device that combines essential financial functions with user-friendly design and robust technology. Whether for educational purposes or professional finance work, its capabilities make it an invaluable asset for anyone dealing with financial calculations and decision-making.
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