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HP 12C Financial 12C#ABA Manual
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211 pages 1.68 Mb
1Edition HP Part Number 0012C-90001 2Notice REGISTER YOUR PRODUCT AT: www.register.hp.com Printing History 3Introduction 5Contents 6Contents 6Section 4: Additional Financial Functions Section 5: Additional Operating Features 7Section 6: Statistics Functions Section 7: Mathematics and Number-AlterationFunctions Section 8: Programming Basics Section 9: Branching and Looping Section 10: Program Editing 8Section 11: Multiple Programs Section 12: Real Estate and Lending Section 13: Investment Analysis Section 14: Leasing Section 15: Savings Section 16: Bonds 9Appendix A: The Automatic Memory Stack Getting Numbers Into the Stack: The Key One-NumberFunctions and the Stack Two-NumberFunctions and the Stack The LAST X Register and the Key Arithmetic Calculations with Constants Appendix B: More About L Page: 9 of 10 Contents 10Appendix E: Battery, Warranty, and Service Information Appendix F: United Kingdom Calculations Function Key Index Programming Key Index Subject Index 11Example 1: zn: the number of compounding periods zi: the interest rate per compounding period zPV: the present value of a compounded amount zPMT: the periodic payment amount zFV: the future value of a compounded amount. In this particular example: zn is 4 years × 12 periods per year = 48 periods zi is 6% per year ÷ 12 periods per year = 0.5% per period zPMT is $500 Keystrokes Page: 11 of 1212Making Financial Calculations Easy Note: running Keystrokes fCLEARHf2 CLEAR 4gA 6gC 500P Display 48.00Calculates and stores the number of compounding periods 0.50Calculates and stores the periodic interest rate 500.00Stores periodic payment amount 500.00Sets payment mode to Begin -21,396.61 Amount required to be deposited Example 2: In this example, we need to calculate FV, the future value Keystrokes fCLEARG -21,396.61 Clears previous financial data inside the calculator 14\2µn 5.35\2z¼ 28.00Calculates and stores the number of compounding periods 2.68Calculates and stores the periodic interest rate 5000Þ$ -5,000.00 Stores the present value of the policy 10,470.85 Value of policy in 14 years Page: 12 of 13Example 3: Keystrokes Display fCLEARG 10,470.85 14gA –41.65 Example 4: –45.00 15Problem Solving 16Getting Started 26Percentage and Calendar Functions 32Basic Financial Functions Section 3: Basic Financial Functions Clearing the Financial Registers 33Simple Interest Calculations 1.Key in or calculate the number of days, then press n 2.Key in the annual interest rate, then press ¼ 3.Key in the principal amount, then press Þ$ 4.Press fÏ to calculate and display the interest accrued on a 360-daybasis 5.If you want to display the interest accrued on a 365-daybasis, press d The quantities n, i, and PV can be entered in any order 60n Stores the number of days Page: 33 of 34 Section 3: Basic Financial Functions KeystrokesDisplay 450Þ$ –450.00 fÏd –450.00 34Financial Calculations and the Cash Flow Diagram 39Compound Interest Calculations Specifying the Number of Compounding Periods and the Periodic Interest Rate Calculating the Number of Payments or Compounding Periods 4040 Section 3: Basic Financial Functions total n equal fCLEARG 10.5gC 35000$ 325ÞP 0.88Calculates and stores 35,000.00 Stores PV Stores PV –325.00 Stores PMT (with minus sign for cash paid out) Sets the payment mode to End Number of payments required Page: 40 of 4112z Twenty-sevenyears and four months full 328n Stores total number of payments Calculates FV — which equals the overpayment if 328 full payments were made Recalls payment amount –143.11 Final, fractional payment 327n –141.87 Stores number of full payments Calculates FV — which is the balance remaining after 327 full payments –466.87 Final, balloon payment equal Page: 41 of 4242 Section 3: Basic Financial Functions –775.00 –50.00 4,000.00 434,027.27 Calculates FV – which equals the balance in the account if 58 full deposits were made 3,977.27 Recalls amount of deposits –22.73 Calculates final, fractional, 58th deposit required to reach $4,000 Calculating the Periodic and Annual Interest Rates 2.Enter the number of payments or periods, using nor A Note: Remember to observe the cash flow sign convention 4.If a PMT was entered, press g×or gÂto set the payment mode 5.Press ¼to calculate the periodic interest rate Page: 43 of 4444 Section 3: Basic Financial Functions 8\4§w –6,000.00 10,000.00 Calculating the Present Value 45–150.00 5,389.72 6,889.72 4646 Section 3: Basic Financial Functions 17,500.00 540,000.00 –369,494.09 Calculating the Payment Amount 4729gA 43400$ 43,400.00 gÂ 43,400.00 P –523.99 –3200.00 60,000.00 –717.44 4848 Section 3: Basic Financial Functions Calculating the Future Value 5gA 43,400.00 –523.99 –42,652.37 492gA 1,281.34 5050 Section 3: Basic Financial Functions 51noninteger n Page: 51 of 5252 Section 3: Basic Financial Functions 4,500.00 –157.03 533,950.00 –120.00 54 Section 3: Basic Financial Functions 54Amortization To obtain an amortization schedule: 3.Enter the amount of the loan (the principal), using $ Key in the periodic payment, then press 5.Press g× or (for most direct reduction loans) gÂ to set the payment mode 6.Key in the number of payments to be amortized 7.Press f! to display the amount from those payments applied toward interest 9.To display the number of payments just amortized, press dd 10.To display the remaining balance of the loan, press :$ 11.To display the total number of payments amortized, press :n Enters 13.25gC 50000$ 50,000.00 Enters PV Page: 54 of 55–573.35 –6,608.89 –271.31 49,728.69 –6,570.72 –309.48 49,419.21 5656 Section 3: Basic Financial Functions 1f! –552.08 ~ –21.27 1f! –551.85 ~ –21.50 –562.89 1f –552.08 –10.81 49,989.19 57Additional Financial 70Additional Operating Features 76Statistics Functions 83Mathematics and Number-AlterationFunctions 87Programming 88Programming Basics 103Branching and Looping 104 Section 9: Branching and Looping 104Looping 107Conditional Branching 108108 Section 9: Branching and Looping 109Keystrokes fs Î : 110110 Section 9: Branching and Looping Keystrokes gi07 gi08 :1 b fs 06- 43, 33 08- 25 –12.36 20,000.00 15,000 15,000.00 04- 43, 33 111Display 15,000.00 3,000.00 20,000 25,000 112112 Section 9: Branching and Looping 25,000.00 Ê06- 43, 33 08 Line 06: gi08 6,250.00 113Program Editing 120Multiple Programs 123Solutions 124Real Estate and Lending 125Section 12: Real Estate and Lending –594.17 :$2b-$ 58,800.00 :$150-$ 59,850.00 126 Section 12: Real Estate and Lending Keystrokes gÂ fCLEARG 30gA 11.5gC 60000$ :$2b- 150-$ 58,650.00 126Price of a Mortgage Traded at a Discount or Premium 127gÂ fCLEARG 72n 9gC 137.17P*137.17 2000M$ –8,777.61 Months (into n) Discount rate (into i) Monthly payments (into PMT) Amount necessary to prepay the note 26gA 9.5gC 49350Þ$P 12gC –40,801.57 Monthly payment to be received (calculated) Desired monthly interest rate (into i) Purchase price to achieve the desired yield (calculated) Page: 127 of 128 Section 12: Real Estate and Lending 128Yield of a Mortgage Traded at a Discount or Premium 9gC –100,000.00 12989,849.34 Þ$¼ 130130 Section 12: Real Estate and Lending NCPR :.0 Page: 130 of 131KEYSTROKES DISPLAY KEYSTROKES DISPLAY 132132 Section 12: Real Estate and Lending REGISTERS n: Period i: Apprec PV: Price PMT: Used FV: Used R0: Period R1: Dwn Pmt R2: Life R3: i(Mtg) R4: Taxes/Mo R5: Improve R6: Closing C R7: % Comm R8: Rent R9: Savings R.0: Bracket R.1: Unused 1.Key in the program 2.Key in the estimated down payment then press ?1 3.Key in the life of the mortgage then press ?2 4.Key in the annual mortgage interest rate then press ?3 5.Key in the estimated monthly taxes then press ?4 7.Key in the closing costs then press ?6 9.Key in the monthly rent for the alternative housing then press ?8 Key in the combined State and Federal marginal tax rate 13.Key in the estimated rate of yearly appreciation as a percentage then press 14.Key in the price of the house under consideration then press $ Page: 132 of 13316.Press tto compute the yield on your investment in the house 17.Press tto compute the value of a savings account or other investment 7000?1 7,000.00 30?2 12?3 110?4 65?5 1200?6 1,200.00 8?7 400?8 6.25?9 30?.0 Down payment Life of mortgage Interest rate Property taxes Monthly expenses Closing costs Resale costs (as a percentage) Rent Savings interest rate Tax bracket Clear financial registers Page: 133 of 134 Section 12: Real Estate and Lending 70,000.00 32,391.87 21,533.79 134Deferred Annuities 0gJ 0gK 8ga 15,218.35 1355ga 6ga 12,831.75 136Investment Analysis 137Section 13: Investment Analysis gi30 41-43,33 n: Life i: Unused PV: Dep. Value PMT: Unused FV: Salvage R0: Used R1: #Mos./12 R2: Counter R : 1st Yr. Dep R –R :Unused 2.Press fCLEARG 3.Key in the book value then press $ 4.Key in the salvage value then press M 5.Key in the life in years (an integer) then press n 6.Key in the year desired then press 7.Key in the number of months in the first year and press t.* The display will show the amount of depreciation for the desired year. If desired, press ~to see the remaining depreciable value then press =~-:M 9.For a new case, press gi00 and return to step Page: 137 of 138138Section 13: Investment Analysis ~:$:3 +~- gi00 125,000.00 Book value 1,666.67 123,333.33 5,000.00 118,333.33 11,666.67 125,000.00 1393,333.33 6,730.00 Declining-BalanceDepreciation gi31 21-43,33 140140 Section 13: Investment Analysis ?+0 gi22 30-43,33 37-43,33 i: Factor R :1st Yr. Dep 5.Key in the declining-balancefactor as a percentage then press ¼ 6.Key in the life in years (an integer) then press n 7.Key in the year desired then press Key in the number of months in first year Page: 140 of 1418,000.00 11,458.33 Sum-of-the-Years-DigitsDepreciation 142142 Section 13: Investment Analysis 143~-:M 9.For a new case press gi00 and return to step 12000$ 11t Fourth year: depreciation 8,238.71 Fifth year: 7,492.69 Page: 143 of 144 Section 13: Investment Analysis 144Full- and Partial-YearDepreciation with Crossover gi53 51-43,33 gi65 52-43,33 gi86 57-43,33 ?-0 ?-4 gi40 64-43,33 145Section 13: Investment Analysis ?-2 ?-1 gi39 32-43,33 gi74 85-43,33 146146 Section 13: Investment Analysis 94-43,33 gi58 95-43,33 R1: Dep R3: Used R4: Used R5: Used R6: Used 2.Press fCLEARH 6.Key in the declining-balancefactor as a percentage then press ¼ 7.Key in the desired year and press Key in the number of months in the first year 9.If desired, press ~to see the remaining depreciable value 10.If desired, press :1 to see the total depreciation through the current year Continue pressing 12.For a new case press gi00 and return to step Page: 146 of 147fCLEARH 11000$ 500M 8n 11,000.00 Book value 500.00Salvage value 8.00Life 200.00Declining-balancefactor 1.00First year depreciation desired 1,375.00 depreciation 9,125.00 2,406.25 depreciation 1,804.69 depreciation 4.00Fourth year: 1,353.51 depreciation 5.00Fifth year: 1,015.14 depreciation 6.00Sixth year: 761.35depreciation 7.00Seventh year: 713.62depreciation 9,429.56 Total depreciation through the seventh year 8.00Eight year: 713.63depreciation 9.00Ninth year: 356.81depreciation Page: 147 of 148 Section 13: Investment Analysis 148Excess Depreciation 10,500.00 1,312.50 8,531.25 Modified Internal Rate of Return 151Leasing 160Savings 163Bonds 169Appendixes 170The Automatic Memory Stack 171Appendix A: The Automatic Memory Stack 172 Appendix A: The Automatic Memory Stack Termination of Digit Entry replaces Stack Lift usually 172Rearranging Numbers in the Stack The key Pressing ~ exchanges the numbers in the X- and Y-registers The Key roll down Page: 172 of 173One-NumberFunctions and the Stack Two-NumberFunctions and the Stack 175Calendar and Financial Functions n, ¼, $ Register P, M, l INT365 x (number of payments) DYS DATE DYS INT360 n, i, PV, PMT PMTINT FV, NPV, IRR V, Ý, # y (settlement date) x (maturity date) x (number of year) INT RDV (remaining depreciable value) PRICE YTM DEP Page: 175 of 176 Appendix A: The Automatic Memory Stack 176The LAST X Register and the Key 177Arithmetic Calculations with Constants 2 178178 Appendix A: The Automatic Memory Stack 84,000 Enters base amount into displayed X-register 168,000.00 Annual sales after first year 336,000.00 Annual sales after second year 672,000.00 Annual sales after third year 4.38 O75 O250 4.38Enters constant into Y-, Z-,and T-registers 15.Enters first quantity into displayed X-register 75.Clears display and enters second quantity into displayed X-register 250.Clears display and enters third quantity into displayed X-register Page: 178 of 179More About L 181Error Conditions 182 Appendix C: Error Conditions 182Error 1: Storage Register Overflow Error 2: Statistics Error 3: IRR Error 4: Memory Appendix C: Error Conditions 183Error 5: Compound Interest Error 6: Storage Registers K a l 184 Appendix C: Error Conditions 184Error 7: IRR Error 8: Calendar Error 9: Service Pr Error Improper date format or illegal date Attempting to add days beyond calculator’s date capacity Maturity date earlier than settlement date Maturity date has no corresponding coupon date (6 months earlier) zContinuous Memory has been reset. (Refer to Continuous Memory, page 70.) zYou have reset the calculator using the reset hole (see page 194) Page: 184 of 185Formulas Used 193Battery, Warranty, and Service Information 201United Kingdom Calculations 203Function Key Index 204204 Function Key Index Financial CLEAR GClears contents of financial registers (page 33) (page 37) Sets payment mode to End for compound interest calculations involving payments ÏCalculates simple interest (page 33) wStores or computes number of periods in financial problem (page 32) Multiplies a number in displayed (page 39) ¼Stores or computes interest rate per compounding period (page 32) Divides number in displayed PStores or computes payment amount (page 32) Amortizes (page 54) using values stored with J, K, and a(page 58) initial investment using values stored with J, K, and a (page 63) JInitial cash flow. Stores contents of displayed X-registerin (page 58) X-registerin Rj , increments n by 1, and VCalculates depreciation using straight-linemethod. (page 68) ECalculates bond price, given desired yield to maturity (page 67) SCalculates yield to maturity, given bond price (page 67) aStores the number (from 1 to 99) of times each cash flow occurs as Nj. Assumes 1 unless otherwise specified (page 61) #Calculates depreciation using declining-balancemethod (page 68) Statistics (page 76) _Accumulates statistics using numbers from X- and Y-registers in storage registers R1 through R6 (page 76) ^Cancels effect of numbers from X- and Y-registersin storage registers R1 through R6 (page 77) Page: 204 of 205Function Key Index (page 81) (page 79) (page 80) Mathematics (page 83) (page 85) Number Alteration (page 84) Stack Rearrangement (pages 74 and 172) (page 172) (pages 74 and 176) 206Programming Key Index 207Programming Key Index Go to. Followed by a decimal point and a (page 95) (page 92) Pressed from (page 89) Go to. Followed by a (page 103) (page 97) (page 102) instruction: tRun/Stop. Stops program execution (page 101) (page 103) Pause. Stops program execution for about 1 second and displays contents of omConditional otests number in (page 107) Page: 207 of 208Subject Index 209with Constants, arithmetic calculations with 37, 70, 72, 93 , 29–31 , 68 , 51 D.MY status indicator, 30 Data storage registers, 23–25Date format, 29 Depreciation, with crossover, 144–48 Digit entry, recovering from errors in Digit entry, termination of, 19, 171 Discounted cashflow analysis, 57 Display Subject Index Display format, mantissa Display format, standard Display formats, number Display, scientific notation Displaying numbers Displays, special Editing a program, 113 Effective interest rate, converting Entry errors, 75 Error conditions, 74 Error, Pr, 74 Errors Factorial Financial registers Financial registers, clearing Fractional Future value Future value, calculating FV , 12 Indicators, status Page: 209 of 210210 Subject Index