HP 10bII+ Financial manual To Amortize, Amort key on the HP 10bII+ allows you to calculate

Page 83

The AMORT key on the HP 10bII+ allows you to calculate.

•The amount applied to interest in a range of payments.

•The amount applied to principal in a range of payments.

•The loan balance after a specified number of payments are made.

The \Êfunction assumes you have just calculated a payment or you have stored the appropriate amortization values in I/YR, PV, FV, PMT, and P/YR.

Table 6-17

Keys for storing the amortization values

 

 

Keys

Description

Ò

Annual nominal interest rate.

 

 

 

Ï

Starting balance.

 

 

 

É

Ending balance.

 

 

 

Ì

Payment amount (rounded to the display format).

 

 

 

\Í

Number of payments per year.

 

The numbers displayed for interest, principal, and balance are rounded to the current display setting.

To Amortize

To amortize a single payment, enter the period number and press \Ê. The HP 10bII+

displays the annunciator PER followed by the starting and ending payments that will be amortized.

Press 4to see interest (INT). Press 4again to see the principal (PRIN) and again to see the balance (BAL). Continue pressing 4to cycle through the same values again.

To amortize a range of payments, enter starting period number Æending period number,

then press \Ê. The HP 10bII+ displays the annunciator PER followed by the starting

and ending payments that will be amortized. Then press 4repeatedly to cycle through interest, principal, and balance.

Press \Êagain to move to the next set of periods. This auto-increment feature saves you the keystrokes of entering the new starting and ending periods.

Time Value of Money Calculations 75

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Contents HP Part Number NW239-90001 Edition 1, May HP 10bII+ Financial Calculator User’s GuideLegal Notice HP 10bII+ Financial Calculator Number Keyboard Map LegendTable of Contents Page Page III Basics of Key Functions JGDAt a Glance Boxed Key Functions Shift KeysAdd 15% to Jj7V1JV§4 PercentagesMemory Keys JVÀGG¼ DDÃJ7GV GG4GV4 Time Value of Money TVM JG\ÍDSÙ JYÏHow much can you borrow at a 9.5% interest rate? JyÌD7VÒ TVM What ifAmortize the 1 st through 24 th loan payments JæjgAmortization Depreciation Interest Rate Conversion Cash Flows, IRR/YR, NPV, and NFV \½\«GD¤ Yy¤Yj¤ JÆG¤Date and Calendar G7GgGJVG4 Bonds For more information on bond calculations, refer to , Bonds S7jVÎY7jVÔ Break-even \e \« \k \«\T \« \h \«\T\« GÆV¡YÆd¡ SÆJS¡Probability \5V7VF 17GV4Find Sin θ =.62 in degrees. If RAD is displayed, press 7SGTrigonometric Functions \aJg Convert the results to radians using PiAt a Glance Displayed text Power On and OffGetting Started Manual Conventions and ExamplesItem before the / is the alternate Shift Keys Operating Modes GY7jJ1SG7Yj4JdPJG7Sg4 Simple Arithmetic Calculations7dJ4 Calculations in Chain Mode1JJV7V4 S7dPV7DVaJG\n Calculations in Algebraic ModeUsing Parentheses in Calculations Da\qgVAClearing the Calculator JVyAD4 Understanding the Display and Keyboard CursorClearing Messages AnnunciatorsClear All INV Same as pressing Input KeySwap Key Statistics KeysOne-Number Functions Gd7GV\BD7Vj1G7DS\b Math FunctionsGetting Started 7DVoR \5YJVc J1SCPY7V\2 A7SGoR\5G YP\In-line Functions J7GVrc17VdrC Two-Number FunctionsGd1DD Jj\¨JjÆ Gd\¨-23below lists the two-number functions of the calculator Arithmetic with One-and Two-number FunctionsJGV\QD4 G7V\KLast Answer VAJ7GV4\Qv4 GG1JY\¨Specifying Displayed Decimal Places \5DYV7SP 7JGVS4\zyJG Jaj4\54 Messages D7gjSVYDPercent key GV§Business Percentages Business Percentage KeysJgpvæ JGV1j§GdJ7j\¨ DJS7g4Margin Calculations GvvàJdÀ Margin and Markup CalculationsJVà Using Margin and Markup TogetherD7SÀ Number Storage and Storage Register Arithmetic Using Stored Numbers in CalculationsUsing Constants V1GªExample Calculate 23 J1J§ª\QDª Example Calculate 10 + 10%, 11 + 10%, and 25 + 10%YV4 Using the M RegisterVV\¨DGª JS7dVm Using Numbered RegistersJjs JY7GVmV7Y YjV7S\w7Y ADd7JV \wG VS7J1\wPD YV7j \wDG7V How to approach a Financial Problem Picturing Financial ProblemsSimple Interest Signs of Cash FlowsPeriods and Cash Flows Simple and Compound InterestCompound Interest Interest RatesRecognizing a TVM Problem Two Types of Financial ProblemsCash flow diagram Borrower’s perspective Recognizing a Cash Flow ProblemCash flow diagram Investment in a mutual fund TVM Keys Using the TVM ApplicationTime Value of Money Calculations Loan Calculations Begin and End ModesJVÏ DpjgùJ7VÒ Jyva1JV4 1VÌDjVyÌ 1JG4 J7VÒDDyÌ G7gÒ GV\ÚJjGVÏ Savings Calculations YgÙ1vÌ4 J7GÒ GyÏGyÌ GY\ÍYyÏ S7DÒJV\Ú Lease Calculations Cash flow diagram Calculate the monthly lease paymentJVÉ Cash flow diagram Calculate PV of the leaseStep Find the present value of the buy option YjÙGYyÌ 1vÌy4Step Add the results of ’ ’ and ’ ’ JVyÉ1p4 Amort key on the HP 10bII+ allows you to calculate To AmortizeJ7jVÒ Jygvï JdægyJJ7VÒ Amortize the 1st, 25th, and 54th payments GVÆVYÆ First Bank S7j\ÓInterest Rate Conversions Investments With Different Compounding PeriodsCompounding and Payment Periods Differ S7SV\ÓS7SD\Ó DS\ÍGVyÌ DSV\ÍResetting the TVM Keys Depreciation Keys DepreciationItem in the selected format Inputs 5 for the expected useful life Depreciation example using Declining Balance Keys Cash Flow Calculations How to Use the Cash Flow ApplicationNumber1 ¤ Clearing the Cash Flow MemoryCash Flow Calculations Calculating Internal Rate of Return Vy¤Gy¤ Organizing Cash Flows JJjSV7Gd¤AJG NPV and IRR/YR Discounting Cash FlowsInitial cash flow and cash flow groups JJy¤Viewing and Editing Cash Flows 11GÆ Calculating Net Present Value and Net Future Value JVÆ1GÆ1JGyÆ1G VÆG¤ ÆY¤VÆJ¤ JVÒ JVÆJ¤Æd¤ JÆJ¤Automatic Storage of IRR/YR and NPV Cash flow diagram Calculates NPVDate Format Calendar Formats and Date CalculationsCalendar Format Using the Input key Date Calculation Date Calculations and Number of DaysÆJ\Ç To enter the data for this example using the ÆkeyJG7JgGJJ \ÇJ4J7JjGJG \5SY7SGJ\Ä DJ7JGJ4S7YGJV\Ä Using the ÆkeyJ7JjGJGÆ Bond Keys BondsY7GgGJ JJÑ S7YGGV7VÎ JYËY7JVGJG Resetting the bond keysJ7JVGG Break-even Keys Break-evenBreak-even example Calculating the projected maximum fixed cost Resetting the Break-even keys \Z\« \k\«\h\« \e\«Entering Statistical Data Clearing Statistical DataOne-Variable Statistics Two-Variable Statistics and Weighted MeanViewing and Editing Statistical Data YD\W\5G DGÆYJV¡DVÆVJV¡ YV\W YDÆJGD¡DjÆSgV¡ Summary of Statistical Calculations D7jV¡ Y7V¡D7GV¡ D7V¡JgVÆjj¡ JdDÆd¡JgGÆgJ¡ JjjÆgD¡400 VÆGgd¡ GÆJY¡JÆdG¡ DÆJJ¡ VÆGGSV¡Weighted Mean VJSÆdG¡ VÆVY¡VVÆDG¡ VJÆgg¡Permutations Probability CalculationsFactorial VÆD9 VD4VÆD V9D4Advanced Probability Distributions YG\w6Normal Lower Tail Probability J7jyFInverse of Normal Lower Tail Probability 7GVoFStudents T Probability Lower Tail GIJ7gSy4GÆJ7gSyI Inverse of Student’s t Probability Lower Tail GSoI7V4GSÆ7VoI Conversions from Lower Tail Y1J4PG4 J7GyFReturns desired value of z Statistical Calculations Business Applications Setting a Sales Price\qJ1\q GaJ4 Additional ExamplesYÆJSjV¡ VÆGVd¡ JÆJ¡GÆJJGJ¡ DÆJDS¡YVsPJ§ Gpdspj\q\qJ AG\n \qDAYVjG7gy Jg§AJPJ4 Yield of a Discounted or Premium Mortgage Annual Percentage Rate for a Loan With Fees VÙAYGÙJdyÏ G7VÒAD§Ï JSÏAG§Ï JGÒ1YVÏ AJGPJSaDP YV\«§4Jjvï JgvïD7VÒ PvÙ4Canadian Mortgages JG\ÓJDÏ ÉD\ÚWhat if … TVM Calculations JJ7GÒDVVVyÌ Savings GS\ÍPvÙ1 VÏ4Stores effective rate as annual Gains That Go Untaxed Until Withdrawal JyyùYòìï DVÙPJV§4 Wrap-Around Mortgages G7JjVAGgDyÌ Cash Flow ExamplesGGVJ7GG Cash flow diagram Wrap-around mortgageVÌy¤ DVy¤VÌyAjVY GG\¥Appendix a Batteries and Answers to Common Questions Power and BatteriesLow Power Annunciator Installing BatteriesErasing the calculator’s memory Determining if the Calculator Requires ServiceResetting the calculator Calculator won’t turn onAnswers to Common Questions See Determining If the Calculator Requires ServiceEnvironmental Limits Equations Appendix B More About CalculationsIRR/YR Calculations Interest Rate Conversions Payment Mode Factor S = 0 for End mode 1 for Begin modeTime Value of Money TVM AmortizationCash-Flow Calculations For more than one coupon period to redemption BondsStatistics DepreciationForecasting Tvm registers were cleared Appendix C MessagesMemory has been erased Ch Cashflow memory was clearedStatistical memory and registers were cleared Bond registers were clearedReplacing the Batteries Warranty, Regulatory, and Contact InformationHP Limited Hardware Warranty and Customer Care Limited Hardware Warranty PeriodExclusions General TermsModifications European Union Regulatory Notice Canadian NoticeAvis Canadien Germany Customer Care Contact Information Perchlorate Material special handling may apply香港特別行 Tobago Tunisia Turkey Türkiye Turks 01-800-711-2884 ไทยWarranty, Regulatory, and Contact Information Warranty, Regulatory, and Contact Information Error messages Factorial Advance payments Algebraic modeBattery Chain modeKeys In-line functions InterestInterest rate conversions Investments KeyboardOperating modes Parentheses Trigonometric functions TroubleshootingWarranty Modes
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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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