68 5 Time Value of Money, Figures and stores number | HP 17bII

Keys:				Display:	Description:
				"	Displays TVM menu.
"		]
@c				#$ 5?@2 H<A 0EAH"	Clears history stack and
					TVM variables.
				"	If needed: sets 12
.
@c				"	payment periods per year;

e#$ 5?@2 H<A 0EAH" End mode.


v3 *12					"	Figures and stores number
	T				<8%'&(("	of payments.

	10.5	U			;6@28#(&.("	Stores annual interest rate.
v7250 -1500					"	Stores amount of the loan.

V5O8.K-.(&(("

W	50:8/#'&,"	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.

v+10		W	50:8/#-'&*,"	Stores the reduced
				payment amount.
			;6@28'&-."	Calculates the annual
	U		;6@28'&-."	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 : 17BII-Plus-Manual-E-PRINT-030709

Print data : 2003/7/11

Image 68

HP 17bII manual 68 5 Time Value of Money, Figures and stores number

Contents

HP 17bII+ Financial Calculator Printing History Edition June Welcome to the HP 17bII+ Welcome to the hp17bII+ Contents Error Messages Using Parentheses in CalculationsPower Function Exponentiation Saving and Reusing Numbers Cash Flow Calculations Time Value of MoneyInterest Rate Conversions Bonds Depreciation10 121 Running Total and Statistics 11 141 Time, Appointments, and Date Arithmetic 12 153 The Equation Solver 14 190 Additional Examples Assistance, Batteries, Memory, and Service More About Calculations Menu Maps RPN Summary RPN The Stack RPN Selected Examples Error Messages Index List of Examples List of ExamplesGeneral Business Calculations Currency Exchange Calculations Interest Rate Conversions Time, Alarms, and Date Arithmetic How to Use the Equation SolverBonds and Notes Running Total and Statistical Calculations Important Information Important Information Power On and Off Continuous Memory Adjusting the Display ContrastGetting Started Getting Started Setting the Language What You See in the DisplayKeys for language Key Description 18 1 Getting Started Shift Key @ Backspacing and Clearing 20 1 Getting Started Keys for ClearingKeys Display Description Doing Arithmetic KeysDisplayDescription 22 1 Getting Started Using the Menu KeysKeying in Negative Numbers Main Menu Menu Labels Menu Keys Main Menu Menu Label Operations Done Covered This Category 24 1 Getting Started Choosing Menus and Reading Menu Maps Displaying the MU%C menu Using the MU%C menu26 1 Getting Started Calculations Using Menus 28 1 Getting Started Exiting Menus eClearing Values in Menus Solving Your Own Equations Solve = Cost Typing Words and Characters the ALPHAbetic Menu 30 1 Getting Started Editing ALPHAbetic Text Keys34 5? Characters Calculating the Answer Calc Alphabetic Editing Operation Label or Key to PressKeyboard 32 1 Getting Started Menu for carpeting Controlling the Display Format Decimal PlacesInternal Precision Temporarily SHOWing ALL Rounding a Number Exchanging Periods and Commas in Numbers 36 1 Getting Started Error MessagesModes Calculator Memory @M Memory still free Arithmetic Calculator LineVDoing Calculations 38 2 Arithmetic VUsing Parentheses in Calculations 456 75 × 18.5Keys Display 30 x 40 2 Arithmetic VThe Percent KeyMathematical Functions Key VThe Power Function ExponentiationShifted Math Functions Math Menu Math Menu LabelsKeysDisplay Description 42 2 Arithmetic Saving and Reusing Numbers History Stack of Numbers 44 2 Arithmetic VReusing the Last Result @LVKeys Display VKeys Display Description Storing and Recalling Numbers475.6 560.1 + 39.15 Arithmetic in Registers Keys New Register ContentsDoing Arithmetic Inside Registers and Variables Scientific Notation Range of Numbers 48 2 Arithmetic Percentage Calculations Business Business Percentages BUS MenusMenu Description Percentage Calculations in Business Using the BUS Menus Examples Using the BUS MenusPercent Change %CHG 50 3 Percentage Calculations in Business Percent of Total %TOTL 52 3 Percentage Calculations in Business Markup as a Percent of Cost MU%CMarkup as a Percent of Price MU%P Sharing Variables Between Menus Cost Price M%C Cost Price M%P 54 4 Currency Exchange Calculation Currency Exchange CalculationsCurrx Menu Currency Exchange Calculation Selecting a Set of CurrenciesCurrx Menu Currencies Currency Rate United States Conversion Chart in US$Entering a Rate Select HK$ as currency 58 4 Currency Exchange CalculationSelect CAN$ as currency Example Converting between Hong Kong and U.S Dollars Converting Between Two CurrenciesStoring and Recalling Sets of Currencies Clearing the Currency Variables 60 4 Currency Exchange Calculation Time Value of Money Time Value of MoneyTVM Menu First Level of TVM Second Level of TVM Second Level TVM Menu LabelsMenu Label Description First Level Cash Flow Diagrams and Signs of Numbers 64 5 Time Value of Money PMT Using the TVM Menu 66 5 Time Value of Money Loan Calculations 68 5 Time Value of Money Figures and stores number 11.5 70 5 Time Value of Money Figures and stores Savings Calculations 000 72 5 Time Value of Money 15X 12X 359 360 Leasing Calculations 74 5 Time Value of Money @28#+ 76 5 Time Value of Money Amortization Amrt Displaying an Amortization Schedule Amrt Menu LabelsLabel 78 5 Time Value of Money Number of payments 80 5 Time Value of Money Next successive set of payments authorized Printing an Amortization Table Table 82 5 Time Value of Money 508 /,%&-$ GO8 Interest Rate Conversions 84 6 Interest Rate Conversions Interest Rate Conversions Icnv MenuConverting Interest Rates 86 6 Interest Rate Conversions Compounding Periods Different from Payment Periods 88 6 Interest Rate Conversions Per year 90 6 Interest Rate Conversions Cash Flow Calculations Cash Flow CalculationsCflo menu Cflo Menu Labels 92 7 Cash Flow Calculations Cash Flows Ungrouped Creating a Cash-Flow List 94 7 Cash Flow Calculations Entering Cash Flows For grouped cash flows The display now shows Prompting for #TIMES #T?. When the calculator displays 96 7 Cash Flow Calculations Viewing and Correcting the List EGG Copying a Number from a List to the Calculator Line Naming and Renaming a Cash-Flow List98 7 Cash Flow Calculations Deleting Cash Flows from a List. Pressing ndeletes both Viewing the Name of the Current List. Press o, then e Clearing a Cash-Flow List and Its NameStarting or GETting Another List Cash-Flow Calculations IRR, NPV, NUS, NFV 100 7 Cash Flow Calculations Calc Menu for Cflo Lists Menu Label 102 7 Cash Flow Calculations 115,000 500 G9ECL#T8U Group Number Amount 104 7 Cash Flow Calculations G9ECL.T8U 106 7 Cash Flow Calculations 50 50 50 Doing Other Calculations with Cflo Data 108 8 Bonds BondsBond Menu Bonds Bond Menu LabelsMenu Description Label To calculate the price or yield of a bond Doing Bond Calculations110 8 Bonds Since there is no call on 112 8 Bonds MM.DDYYYY format 114 9 Depreciation DepreciationDeprc Menu Deprc Menu Labels Depreciation Doing Depreciation Calculations DB, SOYD, and SL Methods116 9 Depreciation To calculate the depreciation for an asset KeysDisplay Basis Salv 4,000 118 9 Depreciation Acrs MethodYear Percentage Deductible Keys Display Description Partial-Year Depreciation Calendar Year Depreciation Value 120 9 Depreciation Running Total and Statistics Running Total and Statistics 122 10 Running Total and Statistics SUM MenuSUM Menu Labels Creating a SUM List Entering Numbers and Viewing the Total 124 10 Running Total and Statistics Transaction DateAmount Date Naming and Renaming a SUM List 126 10 Running Total and Statistics Clearing a SUM List and Its Name Doing Statistical Calculations Calc 128 10 Running Total and Statistics Calculations with One VariableCalc Menu for SUM Lists Menu Key Month Phone Expense Calculations with Two Variables Frcst 130 10 Running Total and Statistics Calc Total Frcst Menu Labels 132 10 Running Total and Statistics Curve Fitting and Forecasting Logarithmic Curve Fit 134 10 Running Total and Statistics To do curve fitting and forecasting Number of Minutes Radio Dollar Sales Advertising Values 136 10 Running Total and Statistics Minutes Minutes Weighted Mean and Grouped Standard Deviation 138 10 Running Total and Statistics Summation Statistics Doing Other Calculations with SUM Data 140 10 Running Total and Statistics Time, Appointments, and Date Arithmetic Time, Appointments, Date ArithmeticViewing the Time and Date Time Menu Time Menu LabelsMenu Label Description 142 11 Time, Appointments, and Date Arithmetic Setting the Time and Date SET SET Menu LabelsOr DD.MMYYYY To set the date 144 11 Time, Appointments, and Date Arithmetic Adjusting the Clock Setting AdjstChanging the Time and Date Formats SET Appointments Appt Viewing or Setting an Appointment APT1-APT10Menu Labels for Setting Appointments Description Appointment message optional To set, change, or just view a To set an appointment or view its current setting146 11 Time, Appointments, and Date Arithmetic Acknowledging an Appointment Unacknowledged Appointments Clearing Appointments148 11 Time, Appointments, and Date Arithmetic To acknowledge a past-due appointment Date Arithmetic Calc Determining the Day of the Week for Any Date Calculating the Number of Days between DatesCalc Menu Labels for Date Arithmetic 150 11 Time, Appointments, and Date Arithmetic Calculating Past or Future Dates 152 11 Time, Appointments, and Date Arithmetic DATE2 Equation Solver Equation SolverSolver Example Sales Forecasts 154 12 The Equation Solver Next =OLD Display Description Menu Label Keys Solve Menu156 12 The Equation Solver To make an entry into the Solver list Entering EquationsSolve Menu Labels 158 12 The Equation Solver Calculating Using Solver Menus CalcTo do a calculation using a Solver menu Rmenu label 160 12 The Equation Solver Eqty Editing an Equation Edit Naming an Equation Finding an Equation in the Solver List Shared VariablesClearing Variables 162 12 The Equation Solver Deleting Variables and Equations Deleting a variable is quite different from clearing it Writing Equations Deleting One Equation or Its Variables DeletDeleting All Equations or All Variables in the Solver @c 164 12 The Equation Solver × E 100× C Could be entered as What Can Appear in an Equation 166 12 The Equation Solver Using the Alpha Menu 168 12 The Equation Solver Using a Typing AidSolver Functions Solver Functions for Equations Description DDAYSd1d2cal 170 12 The Equation Solver HH.MMSS formatIFcond expr 1 expr ITEMSUM-listnameitem# Σcfr c 1 c 2 s expr SIZECCFLO-listnameSIZESSUM-listname #TCFLO-listnameflow# 172 12 The Equation Solver Days Conditional Expressions with if OperatorKeys≥ ³= 174 12 The Equation Solver Rating Percent Salary Increase Examples of Conditional EquationsVALUE＝FIRST＋1 ÷ FIRST. If FIRST＝0, then VALUE＝FIRST HC8E9AL#GL28#I&%IGL28$I&I&#TTT Summation Function ∑176 12 The Equation Solver Accessing Cflo and SUM Lists from the Solver Creating Menus for Multiple Equations S Function 178 12 The Equation Solver How the Solver Works Halting and Restarting the Iterative Search 180 12 The Equation Solver Entering Guesses 182 12 The Equation Solver 52EG8527H Y@/O127EF Y@/GX7EF Keys @I$&/Solves for QTY iteratively Printing 184 13 Printing Printer’s Power Source Double Space PrintingPrinting the DisplayP Printing Printing Other Information @p Printing Variables, Lists, and Appointments ListPrinter Menu Labels 186 13 Printing Except IRR%. Instead, press tPto print the value for IRR% 188 13 Printing Printing Descriptive Messages MSGTrace Printing Trace How to Interrupt the Printer KeysPrint-out Additional Examples LoansSimple Annual Interest 190 14 Additional Examples Yield of a Discounted or Premium Mortgage Additional Examples 192 14 Additional Examples Figures and stores total Annual Percentage Rate for a Loan with Fees See appendix F for RPN keystrokes for the next two examples 194 14 Additional Examples @c e Loan with an Odd Partial First Period 196 14 Additional Examples Solver Equation for Odd-Period Calculations Canadian Mortgages 198 14 Additional Examples Solver Equation for Canadian Mortgages Advance Payments Leasing Solver Equation for Advance Payments 200 14 Additional Examples SavingsValue of a Fund with Regular Withdrawals Displays periodic Deposits Needed for a Child’s College Account 202 14 Additional Examples Additional Examples Flow of Withdrawals 204 14 Additional Examples For FLOW1 Value of a Tax-Free Account 206 14 Additional Examples # 5?@2 JH= 0EAH Value of a Taxable Retirement Account 208 14 Additional Examples Modified Internal Rate of Return 210 14 Additional Examples Group No. of Months Cash Flow, $ Flow no V8 /12 100000 212 14 Additional Examples 200000V13 /12 Price of an Insurance Policy Solver Equation for Insurance Price 214 14 Additional Examples Bonds Discounted Notes 216 14 Additional Examples Statistics Moving Average 218 14 Additional Examples Solver Equation for Moving Averages Chi-Squared χ2 Statistics If necessary 220 14 Additional Examples If the expected values vary Use Keystroke Display DescriptionNumber Assistance, Batteries Memory, and Service Assistance, Batteries, Memory, and ServiceAnswers to Common Questions Obtaining Help in Operating the Calculator Assistance, Batteries, Memory, and Service Do not use rechargeable batteries Power and BatteriesLow-Power Indications Installing Batteries Assistance, Batteries, Memory, and Service Managing Calculator Memory Resetting the Calculator Reset hole For selecting English language Erasing Continuous Memory For selecting the other languagesFor English language For the other languages Environmental Limits Determining If the Calculator Requires ServiceClock Accuracy If the calculator doesn’t respond to keystrokes Confirming Calculator Operation Self-TestIf the calculator won’t turn on Warranty Assistance, Batteries, Memory, and Service Europe Country Telephone numbers America Country Telephone numbers Regulatory informationAsia Pacific Country Telephone numbers Canada Japan More About Calculations IRR% CalculationsPossible Outcomes of Calculating IRR% More About Calculations Halting and Restarting the IRR% Calculation Storing a Guess for IRR% Direct Solutions Solver CalculationsO F I T = P R I C E － C O S T S T = P R I C E － P R O F I T E a ＝L x W ＝ a R E a ÷ W Iterative Solutions Case 1a Case 1b Is exactly Is not exactly More About Calculations J1A =4HFFHFI Equations Used by Built-in Menus Actuarial Functions － n 100  Amortization Percentage Calculations in Business BUSTime Value of Money TVM Interest Rate Conversions Cash-Flow CalculationsNOM %  P NPV ＝ CF0 + ∑CFj x Uspv i% nj x Sppv i% Nj Bond Calculations NUS ＝ Uspv i% N Total ＝ ∑nj × CFj Depreciation Calculations DB ＝ Basis × Fact % /100 Model Transformation Sum and StatisticsForecasting Equations Used in Chapter SXY = ΣSX 2 × SY PV = − PMT Modified Internal Rate of Return Odd-Period CalculationsAdvance Payments Menu Maps Menu Maps Figure C-2. Currx Menu Figure C-3. FIN Menu Figure C-3 . FIN Menu Figure C-4. SUM Menu Figure C-5. Time Menu Figure C-6. Solve Menu RPN Summary About RPNAbout RPN on the HP 17bII+ RPN Summary Setting RPN Mode To select RPN mode Press @ Where the RPN Functions Are Function Definition Key to Use Name~ same as Same as Simple Arithmetic Arithmetic Topics Affected by RPN ModeDoing Calculations in RPN 27 % To Calculate Press Display Chain Calculations－No Parentheses RPN Mode ALG ModeCalculations with STO and RCL + 5 E 6 + RPN The Stack RPN The StackWhat 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 ＋ 6 ： Clearing Numbers Retrieving Numbers from Last Reusing NumbersLast X Register Chain Calculations Solution 23 @w13 E9 *-7@t+ Exercises RPN Selected Examples RPN Selected Examples RPN Selected Examples #$ 5?@2 HA 0EAH 10 @ Stores total number Payments 1000000 E For E, press =, not #TIMES1 for FLOW1 I11 I G9ECLT8U # 5?@2 JH= # 5?@2 JH= Begin mode Error Messages Error Messages H22E2I EOH2G9EC Error Messages Error Messages EOH2G9EC Error Messages Index #Special CharactersIndex 143 2, 42 -,150 169 147 156 166 56 ›, 132 a, 78 Z =, F 74-75 85-87 31-32174-76 149 115 ?, 32 ª, 150 «, 150 ¬145 144 162-64116 64 I 181-83 133 168-71 138-39 239 72-73213-15 132 k, 186 o, 42 3, 42 L 132-34132 , 109 +, 49, 53 6, 52, 128 ‘, 128 \, 143 N 143-44 Memory. See also Continuous Memory146 175 101 w, 101 x, 101 /, 157 @, 56 B, 56 J, 56 4, 42 j92-94 56 5, 42 , 18 @p, 186 P 80-81 85-86PMT. See also Payments in TVM, 63 rounded amortization 115 Using 56 Q, 56 l, 186 ¡128 146-47 243-46 176 171 132 L 148178 109 ‹, 115 M This regulation applies only to The Netherlands