HP (Hewlett-Packard) F1902-90001 manuel d'utilisation

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Un bon manuel d’utilisation

Les règles imposent au revendeur l'obligation de fournir à l'acheteur, avec des marchandises, le manuel d’utilisation HP (Hewlett-Packard) F1902-90001. Le manque du manuel d’utilisation ou les informations incorrectes fournies au consommateur sont à la base d'une plainte pour non-conformité du dispositif avec le contrat. Conformément à la loi, l’inclusion du manuel d’utilisation sous une forme autre que le papier est autorisée, ce qui est souvent utilisé récemment, en incluant la forme graphique ou électronique du manuel HP (Hewlett-Packard) F1902-90001 ou les vidéos d'instruction pour les utilisateurs. La condition est son caractère lisible et compréhensible.

Qu'est ce que le manuel d’utilisation?

Le mot vient du latin "Instructio", à savoir organiser. Ainsi, le manuel d’utilisation HP (Hewlett-Packard) F1902-90001 décrit les étapes de la procédure. Le but du manuel d’utilisation est d’instruire, de faciliter le démarrage, l'utilisation de l'équipement ou l'exécution des actions spécifiques. Le manuel d’utilisation est une collection d'informations sur l'objet/service, une indice.

Malheureusement, peu d'utilisateurs prennent le temps de lire le manuel d’utilisation, et un bon manuel permet non seulement d’apprendre à connaître un certain nombre de fonctionnalités supplémentaires du dispositif acheté, mais aussi éviter la majorité des défaillances.

Donc, ce qui devrait contenir le manuel parfait?

Tout d'abord, le manuel d’utilisation HP (Hewlett-Packard) F1902-90001 devrait contenir:
- informations sur les caractéristiques techniques du dispositif HP (Hewlett-Packard) F1902-90001
- nom du fabricant et année de fabrication HP (Hewlett-Packard) F1902-90001
- instructions d'utilisation, de réglage et d’entretien de l'équipement HP (Hewlett-Packard) F1902-90001
- signes de sécurité et attestations confirmant la conformité avec les normes pertinentes

Pourquoi nous ne lisons pas les manuels d’utilisation?

Habituellement, cela est dû au manque de temps et de certitude quant à la fonctionnalité spécifique de l'équipement acheté. Malheureusement, la connexion et le démarrage HP (Hewlett-Packard) F1902-90001 ne suffisent pas. Le manuel d’utilisation contient un certain nombre de lignes directrices concernant les fonctionnalités spécifiques, la sécurité, les méthodes d'entretien (même les moyens qui doivent être utilisés), les défauts possibles HP (Hewlett-Packard) F1902-90001 et les moyens de résoudre des problèmes communs lors de l'utilisation. Enfin, le manuel contient les coordonnées du service HP (Hewlett-Packard) en l'absence de l'efficacité des solutions proposées. Actuellement, les manuels d’utilisation sous la forme d'animations intéressantes et de vidéos pédagogiques qui sont meilleurs que la brochure, sont très populaires. Ce type de manuel permet à l'utilisateur de voir toute la vidéo d'instruction sans sauter les spécifications et les descriptions techniques compliquées HP (Hewlett-Packard) F1902-90001, comme c’est le cas pour la version papier.

Pourquoi lire le manuel d’utilisation?

Tout d'abord, il contient la réponse sur la structure, les possibilités du dispositif HP (Hewlett-Packard) F1902-90001, l'utilisation de divers accessoires et une gamme d'informations pour profiter pleinement de toutes les fonctionnalités et commodités.

Après un achat réussi de l’équipement/dispositif, prenez un moment pour vous familiariser avec toutes les parties du manuel d'utilisation HP (Hewlett-Packard) F1902-90001. À l'heure actuelle, ils sont soigneusement préparés et traduits pour qu'ils soient non seulement compréhensibles pour les utilisateurs, mais pour qu’ils remplissent leur fonction de base de l'information et d’aide.

Table des matières du manuel d’utilisation

  • Page 1

    檔名: title _English- 050105. doc 頁碼: 第 1/2 頁 hp 10BII financial calculator user ’s guide Edition 1 HP part number F1902-90 001[...]

  • Page 2

    檔名: 10BII _English( MP02-2)- 040917( Print) 頁碼: 第 2/2 頁 Notice REGISTER YOUR PR ODUCT AT: www. register.hp.com THIS MANUAL AND A NY EXAMPLES CONTAINED HEREIN ARE PROVIDED “A S IS” AND ARE SUBJ ECT TO CH ANGE WITHOUT NOTICE. HEWLETT-PACKARD COMPANY MAKES NO WARRANT Y OF ANY K IND WITH REGARD TO TH IS MANUAL , INCLUDI NG, BUT NOT LIM [...]

  • Page 3

    Welcome to the HP 10BII 3 W elcome to the HP 10BII < RXU+3%,,  UHI OHFWVWKHV XSHULRUTXDOLWDQGDWWHQ WLRQWRGHWDLOLQ HQJLQHHULQ JDQGPDQXIDFWXULQ JWKDWKDYHGLVWLQJXLVKHG+HZOHWW3DFN DUG SURGXFWVIRU  HDUV  +HZOHWW3DFNDUG VWDQ GV EH KLQG WKLV FDOFXODW[...]

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    4 Welcome to the HP 10BII Features 7KH IHDWXUHVR IWKH+3%,, DQGWKHPDQXDOUHI OHFWWKHQHHGVDQG ZLVKHVRI PDQFXV WRPHUV $ODUJH FKDUDFWHUGLVS OD  $Q $WD*ODQFH VHFWLRQ LQWKHPDQXDOIR UTXLFNUHIHUHQFH $SSOLFDWLRQ VWRVR OYHEXVLQHVVDQG[...]

  • Page 5

    Contents 5 Contents 11 At a Glance. . . 11 %DVLFV³$WD* ODQFH 12 3HUFHQ WDJHV³$WD*ODQ FH 13 0HPRU .HV³ $WD*ODQFH« 14 7LPH9DOXHRI 0RQH 790³$WD*ODQFH« 15 790:KDWLI«³ $WD*ODQFH« 16 $PRUWL]DWLR Q³$WD*ODQ FH« 17 ,QWHUHV W5DWH&RQYHUV LRQ³$WD*ODQ[...]

  • Page 6

    6C o n t e n t s 2 33 Busi ness P er centa ges 33 3HUFHQW.H 33 )LQGLQJD3 HUFHQW 34 $GGLQJRU6XEWUDF WLQJD3HUFH QW 34 3HUFHQ W&KDQJH 35 0DUJLQDQG0DU NXS&DOFXODWLRQV 35 0DUJLQ&DOFXODWLR QV 35 0DUNXSRQ &RVW&DOFXODWLR QV 36 8VLQJ0D UJLQDQ G0DUNXS7RJHWKHU 3 37 Numb er Sto r age[...]

  • Page 7

    Contents 7 5 53 Time Val ue of M on ey Calcu latio ns 53 8VLQJWK H790$SS OLFDWLRQ 54 &OHDULQJ790 55 %HJLQDQG(Q G0RGHV 55 /RDQ&D OFXODWLRQV 60 6DYLQJV&DOFXODWLRQ V 63 /HDVH&DOFXODWLR QV 67 $PRUWL]DWLR Q 72 ,QWHUHV W5DWH&RQYHUV LRQV 72 ,QYHVWPHQ WV:LWK'LI IHUHQW&RP SRXQ GLQJ[...]

  • Page 8

    8C o n t e n t s 8 95 Ad diti onal Exa mple s 95 %XVLQHVV$SS OLFDWLRQV 95 6HWWLQJD6DOHV3ULFH 96 )RUHF DVWLQJ%DVHGR Q+LVWRU 97 &RVW RI 1RW7D NLQ J D &DV K' LVF RXQW 98 /RDQVDQ G0RUWJDJHV 98 6LPSOH$QQ XDO,QWHUH VW 98 &RQWLQXR XV&RPS RXQGLQJ 99 <LHOGRID'LVF RX[...]

  • Page 9

    Contents 9 123 ,IWKH&DOFXODWRU5HTXLU HV6HUYLFH 123 2EWDLQLQJ6HUYLFH 124 6HUYLFH&KDUJH 124 6KLSSLQJ,Q VWUXFWLRQ V 124 :D UUDQ W RQ 6 HUY LFH 125 6HUYLFH$JUHHPHQWV 125 5HJXODWRU,QI RUPDWLR Q 126 (QG X VHU WHUPVD QG F RQGL W LRQV B 129 More Ab out Cal cul ation s 129 ,55<5&DOFXODWLRQV[...]

  • Page 10

    TOC.fm Page 1 0 Thursday, June 22, 2000 12:31 PM[...]

  • Page 11

    11 At a Glance... At a Glance... 7KLV VHFWLRQLV GHVLJQHGIRURXLIRX·UHDOUHDGIDPLOLDUZLWKFDOFXODWRU  RSHUDWLR QRUI LQDQFLDOFRQ FH SWV < RXFDQXVHLWIRUTXLFNUHIHUHQ FH7KH UHVWRIWKHP DQXDOLVILOOHGZLWKH[SODQ DWLRQVDQ GH[DPSOHVR IWKH FRQF[...]

  • Page 12

    12 At a Glance... P ercentages—At a Gl ance... $GGWR )LQGWKHPDU JLQLIWKHFR VWLVDQGVHOOLQJSU LFHLV ,IWKHFRV WLVDQGWKHPDU NXSLVZKDWLVWKHVHOOLQ JSULFH" 3HUFHQW?[...]

  • Page 13

    At a Glance... 1 3 Memory K e ys—At a Glance… 0XOWLSODQGEVWRULQJ´ïµDVDFR QVWDQ WRSHUDWLRQ  6WRUHLQUHJLVWHUWK HQUHFDOOLW 6WRUHVDFRQ VWDQWRS HUDWLRQ 6WRUHVDYDOXHLQWKH0UHJLVWHUPH PRU OR FDWL[...]

  • Page 14

    14 At a Glance... Time V alue of Mone y (TVM)—At a G lance… (QWHUDQIR XURI WKHILYHY DOXHVDQ GVROYHIRUWKHI LIWK $QHJD WLY HVLJQLQWKHGLVSODUH SUHV HQWVPRQ HSDLGRXW PRQHU HFHLY HGLVSRVLWLYH  ,IRXERU U RZ39IRU?[...]

  • Page 15

    At a Glance... 1 5 TVM What i f…—At a Glance… ,WLV QRWQHFHVVDU WR UHHQWHU790Y DOXHVIRUHDFK H[DPSOH 8VLQJWKHYDOXHVRXMXVWHQWHUHGSDJ H KRZPXFKFDQ RXERU URZLIRXZDQWDSDPHQWRI " +RZPXFKFDQRXERU URZ[...]

  • Page 16

    16 At a Glance... Amor tization—At a Glance… $IWHUFDOFXODWLQJDSDPHQ WXVLQJ7LPH9 DOXHR I0RQH  790HQWHUWKHSHU LRGVWRDPR UWL]HD QGSUHV V  7KHQS UHVV  WRFRQWLQXDOOFFOHWKU RXJKWKHSU LQFLSDO LQWHUHVWDQGEDOD QFHYDOXHVLQGLFDWHGEWKH?[...]

  • Page 17

    At a Glance... 1 7 Interest Rate Con ver sion—At a Glance… 7 RFRQYHUWEHWZHHQQR PLQDODQ GHIIHFWLY HLQWHUHVWUDWHV HQWHUWKHNQRZQ UDWHDQGWKHQXPE HURISHU LRGVSHU HDU WKHQVROYHIRUWK HXQNQRZQU DWH )LQGWKHDQQXDOHII HFWLY HLQWHUHVWUDWHRI QR[...]

  • Page 18

    18 At a Glance... IRR/Y R an d NPV—At a Glance… ,IRXKDYHDQLQLWLDOFDVKRXWI ORZRIIR OORZHGEPRQWKOFDVK LQI ORZVRIDQGZKDWLVWK H ,55<5 " :K D WLV  W[...]

  • Page 19

    At a Glance... 1 9 Statis tic s—At a Glance… 8VLQJWKHI ROORZLQJGDWDILQ GWKHPHDQVRI  [ DQG WKHVDPSOHV WDQGDUG GHYLDWLRQVRI  [ DQG DQGWKH LQWHU FHSWDQGWK HVORSH RIWKHOLQHDU  UHJ UHVVLR QIRUHFDVWOLQH7KHQ XVHVXPPDWLRQVWDWLVW[...]

  • Page 20

    20 At a Glance... Ke ys: Display: D escription: 0.00 &OHDU VVWDWLVWLFVUHJLV WHUV  1.00 (QWHU VILUVW [ SDLU  2.00 (QWHU VVHFR QG [ SDLU 3.00 (QWHU VWKLUG [ S DLU  4.00 'LV SODVPHDQR I [  100.00 'LVSODVPHDQRI  2.00 'LV SODVVDPS OHVWDQ GDU[...]

  • Page 21

    At a Glance... 2 1 Key bo a rd Ma p 1. Time value of money (page 53) 2. Separate two numbers (page 28) 3. Per cent (page 33) 4. Constant (page 37) 5. Store and recal l (page 40) 6. Change sign (page 24) 7. Statistics key (page 27) 8. Shift key (page 27) 9. Clear display , cancel operation (page 25) 10. Clear all memor y (page 25) 11. On (page 87) 1[...]

  • Page 22

    fm Page 22 Sunday, June 25, 2000 2:21 PM[...]

  • Page 23

    1: Getting S tarted 23 1 Getting Star ted P ower On and Of f 7 R WXU QRQRXU+3 %,,SU HVV 7 RWXU QWKHFD OFXODWRU RIISUHVVWK HRUDQ JHVKLI WNH WKHQ DOVRZULWWHQ  6LQFHWKHFDOFXODWRUK DVFRQ WLQXRXVPHPRU WXUQLQ JLWRII GRHV[...]

  • Page 24

    24 1: Getting Started :KHQD FDOFXODWLRQK DVEHHQFR PSOHWHGESUHV VLQJ SU HVVLQJD QXPEHUNHVWDU WVDQHZFDOFXODWLR Q ,IRXSUHVVD QRS HUDWRUNHDIWHUFRP SOHWLQJDFDOFXODWLR QWKH FDOFXODWLRQLVFR QWLQXHG < RXFDQGRFKDLQFDOFXODWLR QVZLWKR[...]

  • Page 25

    1: Getting S tarted 25 Understa nding the Displa y and Ke yboard Cursor 7KHFXU VRUBLVYLVLEOH ZKHQRXDUHHQWHULQ JDQXPEHU Clearing the Calculator :KHQ WKHFXUVRULVRQ HUDVH VWKHODVWGLJLW RXHQWHUHG 2WKHUZLVH FOHDUVWKHGLVS ODDQGFDQFHOV WKH [...]

  • Page 26

    26 1: Getting Started Annunciators $QQXQFLDWRUVDU HVPE ROVLQWKHGLVS ODWKDWLQGLFDWHWKHVWDWXVRI WKH FDOFXODWRU Annunciator S tatus SHIFT 7 KHVK LIWNH KDVEHHQ SUHVVHG: KHQDQ RWKHU NH LV  SUHVVHGW KH IXQFWLRQODEHOHG LQ RUDQJHRQ WKH NHLV?[...]

  • Page 27

    1: Getting S tarted 27 Shift K e y 0RVWRI WKH+3%, ,NHVKDY HDVHFRQGR U´VKLIWHGµ IXQFWLRQ SULQWHGLQ RUDQJ HRQWK HNH 7K HRUDQ JHV KLIW NH LVXVHGWRDFFHVVWKHVHIXQ FWLRQV :KHQ RXSUHVV WKHV KLIWDQQXQFLDWRU  SHIF T LV[...]

  • Page 28

    28 1: Getting Started INPUT K ey 7KH  NHLVXVHGWRVHSD UDWHWZ RQXPEHUVZKH QXVLQJ WZ RQXPEH UIXQFWLRQV RUWZRYDULDEOHVWDWLVWLFV 7KH  NHFDQDOVREHXVHGWRHYDOXDWHDQSHQ GLQJDULWK PHWLF RSHUDWLR QVLQZKLFKFDVHWKHUHVXOWLVWKHV DPHDVSU[...]

  • Page 29

    1: Getting S tarted 29 T wo-Number Functions. :KHQDIXQ FWLRQUHTXLUHVWZR QXPEHUVWKHQXPEHUVDUHHQ WHUHGOLNHWKLV QXPEHU  QXPEHU IROORZHGE WKHRSHU DWLRQ3U HVVLQ J HYDOXDWHV WKHFXU UHQ WH[SUHVVLR QDQGGLVS ODVWKH INPUT  DQQXQFLDWRU) R UH[DPS OH[...]

  • Page 30

    30 1: Getting Started Speci fying Disp layed Decimal Pl ac es 7 R VSHFLI WKHQXPEHURI GLVSODHGGHFLPDOSODF HV  3UHVV   (QWHUWKHQXPE HURIGLJLWVWKUR XJKWKDWRXZLVKWRDSS HDU DIWHUWKHGHFLP DOSRLQ W :KHQDQXPEHULVWRR ODUJH  RUWRR?[...]

  • Page 31

    1: Getting S tarted 31 Displaying the Full Precision of Number s 7 RVHWRXUFDOFXODWRUWRGLVS ODQXPEHUVDVS UHFLVHODV SRVV LEOHSUHVV WUDLOLQ J]HURVDUHQ RWGLVSODHG 7 RWHPSRU DULOYLHZDOOGLJLWVRIWK HQXPEHULQ WKHGLVSODUHJ DUGOHVVR IWKH[...]

  • Page 32

    32 1: Getting Started Rounding Numbers 7K HFDOFXODWRUV WRUHVDQGFDOFXODWHVXV LQJGLJLW QXPEHUV:KHQGLJLWDFFXUDFLVQR WGHVLUDEOHXVH WRURXQGWKHQXPEH UWRWKHGLVS ODHGIRU PD W EHIR UHXVLQJLWLQDFD OFXODWLRQ5RXQGLQJQXPEHUV LVXVHIXO?[...]

  • Page 33

    2: Business Percentages 3 3 2 Business P er c entages < RXFDQXVHWKH+3 %,,WRFDOF XODWHVLPSOHSHUF HQWSHU FHQWFKDQJH FRVWSULFHPDUJLQ DQGPDU NXS  P e r cent Ke y 7KH  NHKDVWZ RIXQFWLRQ VILQGLQJDS HUFHQWDQ G DGGLQJRUVXE WUDFWLQJDSHU F[...]

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    34 2: Business Percentages Adding or Subtracting a P er cent < RXFDQDGGRUVXE WUDFWDSHUF HQWLQRQHFDOF XODWLRQ Example . 'HFUHDV HE Example . < RX ERU URZ  IURPD UHODWLY H DQG RXDJUHH  WR UHSD  WKH ORDQLQDHD U?[...]

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    2: Business Percentages 3 5 Mar gin and Markup Calculations 7KH+ 3%,,FD QFDOFXODWHFRVWVHOOLQ JSULFHPDUJLQ RUPDU NXS  7 R VHHDQ YDOXHXVHGE WKH0DUJLQ DQG0DUNXSDSS OLFDWLRQS UHVV  DQGWKHQWKHNHRXZLVKWRVHH)RUH[DPSOHWRVHH?[...]

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    36 2: Business Percentages Using Margin and Markup T og ether Example . $IR RGFRRSHUDWLYH EXVFDVHVRI FDQQHGVRXSZLWKDQLQYRLFH FRVWRI SH UFDVH  ,IW KHFRRSURXWLQHOXVHV D  PD U NXS IRUZKDW SULFHVKR XOGLWVHOODFDVHRI VRXS&[...]

  • Page 37

    3: Number Storag e and Arithmetic 37 3 Number Storage and Arithmetic Using S tored Num bers in Calc ulation s < RXFDQVWRUHQXPE HUVIRUUHXVHLQVHYHUDOGLIIHUH QWZD V 8VH &RQVWDQWWRVWRUHDQXPE HUDQGLWVR SHUDWRUI RUUH SHWLWLYH RSHUD WL RQV  8VH.H0HPR U ?[...]

  • Page 38

    38 3: Number Storage and Arithmetic Example . &DOFXODWHDQG Example . &DOFXODWHDQG Example . &DOFXODWH DQG  Keys Operation QXPEHU 6WRUHV´ QXPEHU µDV[...]

  • Page 39

    3: Number Storag e and Arithmetic 39 Using t he M Register 7KH   DQG NHVSHUIRU P PHPRU RSHU DWLRQV  RQ DVLQJOHVWRU DJH UHJLVWHUFDOOHGWKH0UHJLVWHU ,QPR VW FDVHVLWLVXQQHFHVVDU WRFOHDUWKH0 UHJLVWHUVLQFH UHSODF HVWKHSU HYLRXVFRQWHQ WV ?[...]

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    40 3: Number Storage and Arithmetic Using Numbered Registers 7KH  DQG NHVDFFHVVWKHXVHU UHJLVWHUV 7KH NHLVXVHGWRFRSWKHGLVS ODHGQXPEHUWRD GHVLJQDWHGUHJLVWHU7KH NHLVXVHGWRFRSDQXPEHU IURP DUHJLVWHUWR WKHGLVSOD  7 R [...]

  • Page 41

    3: Number Storag e and Arithmetic 41 Doing Arithmetic Inside Registers < RXFDQGRDULWKP HWLFLQVLGHVWR UDJHUHJLV WHUV5 WKU RXJK5 7K HUHVXOW LVVWRUHGLQWKHU HJLVWHU  Examp le. 6WRUHLQ 5 PXOWLSOEDQGVWRUHWK HUHVXOWLQ5  Keys New [...]

  • Page 42

    42 3: Number Storage and Arithmetic Doing Arithmetic 0DWKIXQF WLRQVR SHUDWHRQWK HQXPEHULQ WKHGLVSOD  Example . &DOFXODWH  WKHQ FDOFXODWH   Example . &DOFXODWHQD WXUDOORJDU LWKPH 7 KHQFDOFXODWH Keys: Disp[...]

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    3: Number Storag e and Arithmetic 43 P ower Operator 7K HSRZHURSHUD WRU UDLVHVWKHSUHFHGLQJQXPE HU  Y DOXHWRWKHSRZHURIWKHI ROORZLQJQXPEHU [ YDOXH Examp le. &DOFXODWH WKHQ ILQGWKHF XEHURRWRI  Using P arentheses in Calculati[...]

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    44 3: Number Storage and Arithmetic 7 R GHOD  WKH GLYLVLRQXQWLO RX·YH VXEWUDFWHG IURP XVHSDUHQWKHV HV  &ORVLQJSD UHQWKH VHVDWWKHHQGRI WKHH[SUHV VLRQ FDQEHRP LWWHG) R U H[DPSOHHQWHULQJ´ ÷ ï ?[...]

  • Page 45

    4: Pi cturing Fina ncia l Pro blems 45 4 Picturing Financi al Pr oblems How to approac h a Financial Prob le m 7KHI LQDQF LDOYRFDEXODU RIWKH+ 3%,,LV VLPSOLILHGWRDS SOWRDOO ILQDQFLDOI LHOGV ) RUH[DPSOHRXUSURIH VVLRQ PDXVHWKHWHU P  EDODQFH  EDOORRQSDPHQW ?[...]

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    46 4: P ict ur i ng F in a nc ial Prob le ms $QFDVKI ORZH[DP SOHFDQEHU HS UHVHQ WHGEDFDVKIORZGLDJ U DP$V RXGUDZDFDVKIORZGLDJ UD PLGHQWLIZKDWLVNQ RZQDQGXQNQRZQ  DERXWWKHWUDQ VDFWLRQ 7LPHLV UH SU HVHQWHG E D KRUL]R QWDO OLQH GLYLGHG [...]

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    4: Pi cturing Fina ncia l Pro blems 47 P eriods and Cash Flows ,QD GG LW LRQWR WK H VLJ Q FRQ Y HQW LRQ FDVK IORZ LQ J RXW  LV QHJDW L Y HF DVK IORZLQJLQ LVSRV LWLY HRQFDVKI ORZGLDJ UDPVWKHUHDUHVHYHUDOPRU H FRQVLGHUDWLR QV 7K H WLPH OLQH LV GLYLGHG[...]

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    48 4: P ict ur i ng F in a nc ial Prob le ms Compound Interest $FRPSR XQGLQWHU HVWFRQWUDFWLVOLNHDVHULHVR IVLPS OHLQWHUH VWFRQWUDFWV WKDW DUH FR QQH FWHG 7 K H OHQ JWK RI HDFK VLPS OHLQ WHUHVW FRQWUDFW LV HTXDOW R RQHFRP SRXQ GLQJSHULRG$WWKHHQ GRIHD[...]

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    4: Pi cturing Fina ncia l Pro blems 49 Inte rest Rat es :KHQRXDSSURDFKD ILQDQFLDOSURE OHPLW LV LPSRU WDQWWRUHFRJQL]HWKDW WKHLQWHUHVWUDWHR UUDWHRI UHWXUQ FDQE HGHVFULEH GLQDWOHDVWWKUHH GLIIHUHQWZDV $V D S HULRGLFUDWH 7KLVLV WKHUDWH WKD[...]

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    50 4: P ict ur i ng F in a nc ial Prob le ms < RXFDQFDOFXODWHDQYDOXHDIWHUHQ WHULQJWKHR WKHUIRXU&DVKIORZ GLDJU DPVIR UORDQVPRU WJ DJHVOHDVHV VDYLQJVDFFRXQWVRUDQFR QWUDFW ZLWKUHJXODU FDVKIORZVRIWKH V DPHDPRXQWDUH QRU P DOOW UHDWHG?[...]

  • Page 51

    4: Pi cturing Fina ncia l Pro blems 51 Recognizing a Cash Flow Pr ob lem $ILQDQFLDOS URE OHPWKDWGRHVQR WKDY HUHJXODUXQLIRU PSDPHQ WV VRPHWLPHVFDOOHG XQHY HQ  FDVKI ORZVLVDFDVKIORZSUR EOHP UDWKHUWKDQD 790SURE OHP $FDVKI ORZGLDJ UDPIRU DQLQYHVWPHQW?[...]

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    ook Page 52 Wednesday, June 21, 2000 5:19 PM[...]

  • Page 53

    5: Time V alue of Money Calculations 53 5 Time V alue of Money Calculati ons Using the TVM Application 7K HWLPHYDOXHRIPRQ H790DSSOLFDWLRQ LVXVHGIRU  FRPSR XQGLQWHUH VWFDOFXODWLRQVWKDWLQYROYHUHJXODU  XQLIRU P  FDV K IORZV² FDOOHG SDPHQWV  2Q FH WKH Y DOXHV DU H[...]

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    54 5: Time Value of Money Calculations 7 R YHULIYDOXHV S UHVV    DQ G  3UHVVLQ J UHFDOOVWK HWRWDOQXPEHURIS DPHQWVLQH DUVDQG VKRZVRXWKHQXPEHUR ISDPHQ WVSHUHDU5 HF DOOLQJWKHVH QXPEHUVGRHV QRWFKDQJ HWKHFRQ WHQWRI[...]

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    5: Time V alue of Money Calculations 55 Begin and End Modes %HIRU HRXVWDU WD790FDOFXODWLRQLGHQWLIZK HWKHUWK H ILUVWSHU LRGLFSDPHQ WRFFXUVDWWKHEHJLQ QLQJR UHQGRI  WKHILUVWS HULRG,I WKHILUVWSDPHQWR FFXUVDWWKHHQ GRI WKHILUVWS HULRGVHW[...]

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    56 5: Time Value of Money Calculations Pa r t 2 . $W DSULFH RI  ZKDW LQWHUHVW UDWH LV QH FHVVDU WR ORZHU RXU SDPHQWEWR" Pa r t 3 . ,ILQWHUHVWLV ZKDWLVWKHPD [LPXPRXFDQVSHQG[...]

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    5: Time V alue of Money Calculations 57 Example: A Home Mor tgage. < RXGHFLGHWKDWWKHPD[LPXPPRQ WKO PRU WJ DJHSDPHQ WRXFDQDIIR UGLV< RXFDQPDNHD GRZQ SDPHQW DQ G DQQXDO LQ WHUHVW UDWHV DUH FXUU HQWO ?[...]

  • Page 58

    58 5: Time Value of Money Calculations Example: A Mortgage With a Balloon Pa yment. < RX·YHREWDLQHGD HDUPRUWJ DJ HDWDQQXDOLQWHUHVW< RXDQWLFLS DWHWKDW RXZLOORZQWKHKRXVHIR UIR XUHDUVDQGWKHQ VHOOLWUH SDLQJWKH?[...]

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    5: Time V alue of Money Calculations 59 Step 2 . 6LQFHWKHSDPHQ WLVDWWKHHQGRI WKHPRQWK WKHSDVWS D PHQW DQGW KH EDOORR Q SDPHQW RFFXUDW WKHVDPH WLPH 7 KHILQDO S DPHQW LV WKH VXPRI 30 7 DQG )9  7K HYDOXHLQ 307 VKRXOGDOZDVEHUR[...]

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    60 5: Time Value of Money Calculations Savings Calculat ions Example: A Savings Accoun t. ,I  RXGHS RVLWLQDVDYLQJV DFFRXQWWKDWSDVDQ QXDOLQWHUHVWFRP SRXQGHGDQQXDOO DQGPDNH QRRWKHUGH SRVLWV WRWKHDFFRXQWKRZORQJZLOOLW WDNH IRUWK[...]

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    5: Time V alue of Money Calculations 61 6LQFHWKHFDOFXODWHG YDOXH RI 1 LV EHWZHHQ DQG LWZLOO WDNHVL[ HDUVRI DQQXDOFRPSRXQ GLQJWRDFKLHY HD EDODQFHRIDW OHDVW  &DOFXODWHWKH DFWXDOEDODQFHDWWKHHQ GRIVL[HDU V  [...]

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    62 5: Time Value of Money Calculations Exa m pl e: An Ann ui ty A ccou nt . < RX RSW IRU DQ HDUO UHWLUHPHQ W DIWHU D VXFFHVVIXOE XVLQHVV FDUHHU< RXKDYHDFFXPXODWHGDVDYL QJVRI  WKDWHDUQVDQDY HUDJHRIDQQXDO LQ WHUHVWFRPSR XQGHGPRQ[...]

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    5: Time V alue of Money Calculations 63 Lease Calculat ions $OHDVHLVDORDQR IYDOXDEOHSURS HU WOLNHUHDOHVWDWHDXWRPRELOHVRU HTXLSPHQWIR UDVSHFLI LFDPRXQWRI WLPHLQH[ FKDQJHI RUU HJXODU SDPHQWV6RPHOHDVHVDUHZULWWHQDVS XUFKDVHDJ UHHPH QWV[...]

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    64 5: Time Value of Money Calculations 6HWWR%HJLQPRGH3UHVV LIDQ QXQFLDWRULV QRWGLVSODHG 1RWLFHWKDWHYHQLIWKHFXVWRP HUFKRR VHVQRWWRE XWKHFDUWKHOHVVRU VWLOOLQFOXGHVDFDVKI ORZFRPLQJLQ DWWKHHQGRIWKHOHDV HHTXDOWRWKH UHVLGXDO?[...]

  • Page 65

    5: Time V alue of Money Calculations 65 Example: L ease Wit h Advance Pa y ments. < RX U FRPS DQ  4XLF N.L W  3 ROH %D U QV  S ODQVW R OHDVH D IRU NOLIW I RUW KH ZDUHK RXVH 7KH OHDVH LV ZULWWHQ IRUD WHU P RI HDUV ZLWK PRQWK O SDPHQWVRI ?[...]

  • Page 66

    66 5: Time Value of Money Calculations Step 2. $GGW KHDGGLWLRQDODGYDQFHSDPHQ WWR39 6WRUHWKHDQ VZHU  Step 3. )LQGWKHSUHVH QWYDOXHRIWKHEXRSWLRQ  Step 4. $GGW KHUHVXOWVR IVWH SVDQG Keys: Display: Description : 12.0 0 6HWVSDPHQWV SHUHDU  47.0 0 6WRUHV[...]

  • Page 67

    5: Time V alue of Money Calculations 67 Amor tization $PRU WL]DWLRQ  LV WKH S URFH VVRI GLYLGLQJ D SDPHQWLQWR WKH DPRXQWWKD WDSSOLHVWR LQWHUHVWDQGWKHDP RXQWWKDW DSSOLHVWR SULQFLS DO 3 DPHQWV QHDU WKH EHJLQQLQ J RID ORDQ FRQWULE XWH PRUH LQWHUHVW [...]

  • Page 68

    68 5: Time Value of Money Calculations 7KH  QXPEHUV GLVSODHG IRULQWHUHVW S ULQFLS DO DQG E DODQFHDUH UR XQGHG WR WKHFXU UHQ WGLVSODVHWWLQJ  T o Amortiz e. 7 RDP RU WL]HDVLQJOHS DPHQWHQWHUWKHSHU LRGQXPEHU  DQGSUHVV  7 KH+3%,, GLVSODV[...]

  • Page 69

    5: Time V alue of Money Calculations 69 ,I RX DOUHDG NQRZ WKH PR U WJDJ H SDPHQW RX FDQ HQWHU D QG VWRUH LW MXVW OLNHRXVWRUHWKHRWKHUIR XUYDOXHV 1 H[WDPRU WL]HWKHILU VWHDU  7KHDP RXQWS DLGWRZDUGLQWHUHVWDQGSULQFLSD O[...]

  • Page 70

    70 5: Time Value of Money Calculations $PRU WL]HWKHVH FRQGHDU  7KH DPRXQWS DLGWRZDUGLQWHUHVWDQGSULQFLSD O  HTXDOVWKHWRWDORIPR QWKOSDPHQ WVï ?[...]

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    5: Time V alue of Money Calculations 71 $PRU WL]HWKH  D QG SD P HQ WV 1.00 (QWHU VILUV WSDPHQW 1– 1 'LVSODV3(5DQGWKH  DPRU WL]HGSDPHQWS HULRG –310.42 'LVSODV 35,1 DQ G WKH ILU VW SULQFLSDOS DPHQW 0.00 'LV SODV,17DQGWKHL[...]

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    72 5: Time Value of Money Calculations Inte r est R ate C o nversion s 7K H,QWHUH VW&RQYHUVLRQDSSOLFDWLR QXVHVWKU HHNHV   DQ G  7 K H FRQYHU W EHWZHHQ QRPLQDO DQGDQQXDOHII HFWLY HLQWHUHVWUDWHV 1RPLQ DODQGHII HFWLY H LQWHUHVWUDWHV DUHGHVFULE HGRQ[...]

  • Page 73

    5: Time V alue of Money Calculations 73 First Bank Second Bank Third Bank )LUVW%DQNR IIHUV DVOLJKWOEHWWHUGHDOVLQ FHLVJ UHDWHUWK DQDQG  Compounding and P a yment P eriods Differ 7K H790DSS OLFDWLRQDVVXPH VWKDWWKHFR PSR XQGLQJ SHULRGV DQGWKH?[...]

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    74 5: Time Value of Money Calculations 7 R DGMXVW DQLQWHUHVWUDWHZKHQWKH FRPSR XQGLQJSHULR G GLIIHUVIURP WKH SDPHQWSHULR GFRPS OHWHWKHIROORZLQJVWH SV  (QWHUWKHQ RPLQ DOUDWHDQGSUHVV  (QWHUWK HQXPEHUR I FRPSRXQGLQJ SHULRGV  LQD HDU DQGSU[...]

  • Page 75

    6: Cash Fl ow Calculations 75 6 Cash Flow Calculations How to Use the Cash Flo w Application 7KH FDVK IOR Z DSSOL FD WLR Q LV XV HG  WR VRO Y H SUREOH PV ZKHUH FDVKI ORZVRFF XURY HUUHJXODULQ WHU YDOVEXWDUHRI Y DU LQJ DPRXQWV< RXFDQ DOVRXVHFD VKI ORZFDOFXODWLRQV?[...]

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    76 6: Cash Flow Calculations XXX Keys: Display: Description : 0.00 &OHDU VDOOUHJLVWHU V  12.0 0 6WRUHVS HULRGVSHU HDU  –5,0 00. 00 (QWHUV LQLWLDO FDVKIORZ  'LVSODVFDVK I ORZ JU RXSQXPE HUZKLOH RXKROGGRZQ  –2,0 00. 00 (QWHUVQH[WFDV KI ORZ  –4,0 00. 00 (QW[...]

  • Page 77

    6: Cash Fl ow Calculations 77 NPV and IRR/YR: Discontinuing Cash Flows &KDSWHUGHPRQVWUDWHVWKHXVHRIFDVKIORZGLDJ UDPVWRFODULIILQDQ FLDO SUREOH PV 7KLV VHFWLRQ GHVFULEHVGLVFR XQWHGFDVKI ORZV 7KH 139 DQG ,55<5 IXQFWLRQ VDUHIUHTXHQWOUHIHU UHGWRDV [...]

  • Page 78

    78 6: Cash Flow Calculations :KHQH YHU RXHQWHUDV HULHVRI FDVKI ORZVL WLVLPSRU WDQWWRDF FRXQWIR U HYHUSH ULRGRQ WKHFDVKI ORZGLDJ UDP HY HQSHULR GVZLWKFDVK IORZVR I ]HUR  Entering Cash Flo ws 7KH +3%,,F DQVWRUHDQ LQLWLDOFDVKI ORZ?[...]

  • Page 79

    6: Cash Fl ow Calculations 79 Examp le. (Q WHUWKHFDV KI ORZVIURP WKHSUHFHGLQJGLDJ U DPDQG FDOFXODWHWKH ,55 <5 7KHQFDOFXODWHWK HHIIHFWLYHLQWHUHVWUDWH$VVXPH WKHUHDUHSHU LRGVSHU HDU  Viewing and Replacing Cash Flows 7 R YLHZDFDVKI ORZ SUH[...]

  • Page 80

    80 6: Cash Flow Calculations 7 R UH SODFHDFDVKI ORZDPRXQWSU HVV WR WRVWR UHWKHQ HZDPRXQWLQFDV KI ORZVWR WR WRV WRUHWKHQ HZDPRXQWLQFD VKI ORZVWR WRVWRUHWKHDP RXQWLQWK HQH[WFDVKI ORZ WRVWRUHWKHDP RXQWLQWK [...]

  • Page 81

    6: Cash Fl ow Calculations 81 +RZPXFKVKRXOGRXSDIRUWKHFRQ WUDFWLIRXZLVKWR LHOGDHDUO UDWHRIRQ RXULQY HVWPHQW" Ke ys: Display: Des cription: 0.00 &OHDU VUHJLVWHUV 12.00 6HWVSDPHQ WVSHUH DU  0.00 (QWHU VLQLWLDOFDVK IORZ RI]HUR7K[...]

  • Page 82

    82 6: Cash Flow Calculations 7KH FDVKI ORZVWKDWGHVFULE HRXUSUR VSHFWLYHLQ YHVWPHQWDUHQRZLQWKH FDOFXODWRU< RXFDQS UHVV IR OORZHGE DQG  UHSH DWHGOWRYLHZWKHFDVK IORZVDQ GQXPEHURI WLPHVHDFKRFF XUV  1RZWKDWRXKDYHHQWHUHGWKH[...]

  • Page 83

    6: Cash Fl ow Calculations 83 Calcula ting Intern al Rate of Ret urn  3UHVV VWRU HQXPEHUR ISHULRGV SHUHDU LQ 3<5   (QWHUWKHFDV KI ORZVXVLQJ DQG   3UHVV  :KHQRXFDOFXODWH ,55<5 RXJHWWKHDQ QXDOQRPLQ DOUDWHWKDWJLYHV DQ?[...]

  • Page 84

    84 6: Cash Flow Calculations A utomatic Storage of IRR/YR and NPV :KHQRXFDOFXODWH 139 WKH UHVXOWLVVWRU HGLQ 39 IRURXU FRQYHQLHQFH7 RUH FDOOWKDWUHVXOWSU HVV ,I RX KD Y HQ ·W F KD QJHG WKH790YDOXHVIURPWKHODV WH[DPSOHXVLQ J 139 SDJH ?[...]

  • Page 85

    7: Statistical Calculation s 8 5 7 Statistical Calculations 7KH  DQG NHVDUHXVHGWRHQWHUDQ GGHOHWHGDWD IRUR QHDQ GWZ RYDULDEOHVWDWLVWLFV 6XPPDWLRQ GDWDLV VWRUHGLQP HPRU 7 KHODEHOV DERY HWKH WR NHV LQGLFDWH ZKDW VXPP DWLRQ GDWD LV?[...]

  • Page 86

    86 7: Statistical Calculations Entering Statisti cal Data 7KH UHLVQR OLPLWWRWKHQXPEHURI YDOXHVRXFDQDFFXPXODWHLQWKH VWDWLVWLFDOUHJLVWHUV  One-V a riable Statistic s 7 R HQWHU [ GDWDIR URQ HYDULDEOHVWDWLVWLFVFRPS OHWHWKHIR OORZLQJVWHSV  &OHDUWKHVWD[...]

  • Page 87

    7: Statistical Calculation s 8 7 Correcting St atistic al Data ,QFRU UHFWHQWULHVFDQEHGHOHWHGX VLQJ ,IHLWKHUYDOXH RIDQ [  SD L U  LVLQFRU U HFWRXPXVWGHOHWHDQGUHHQWHUERWK YDOXHV  Correcting One-V a riable Data 7 R GHOHWHDQGUHHQ WHUVWDWLVWLFDOGDWD [...]

  • Page 88

    88 7: Statistical Calculations Mean, Standar d Dev iations, and Summation Statist ics < RX FDQ FDOFXODWH WKH P HDQ   VDPS OH VWDQ GDUG GHYLDWL RQ 6 DQGSRSXODWLRQ VWDQGDUGGHYLDWLRQ  σ  DQ G VXPPDWLRQ  VWDWLVWLFV  Q  Σ [  DQ G Σ [ R I  [ [...]

  • Page 89

    7: Statistical Calculation s 8 9 Example 1. $DFKWFDSWDLQZDQWVWRGHWHU P LQHKRZORQJLWWDNHVWR FKDQJHDVD LO6KHUDQGR POFKRRVHV VL[PHPE HUVRI KHUFUHZ RE VHU YHV WKHPDVWKHFDU U RXWWKHV DLOFKDQJHDQGUH FRUGVWKHQXPEHU VRI PLQXWHVUHTXLUH[...]

  • Page 90

    90 7: Statistical Calculations Linear Regression and Estimation /LQHDUUHJ UHVVLR QLV DVWDWLVWLFDO PHWKRG IRUHVWLPDWLRQDQG IRUHF DVWLQJ ,WLVXVHGWRILQGDVWUDLJK WOLQHWKDWEHV WILWVD VHW RI [  GDWD7 KHU HPXVWEHDWOHDVWWZRGLIIHUHQW [   SDL[...]

  • Page 91

    7: Statistical Calculation s 9 1 Linear Estimation. 7KHVWUDLJK WOLQHFDOFXODWHGEOLQHDUU HJU HVVLRQ FDQ EHXVHGWRHVWLPDWHD YDOXHIRUDJLY HQ [ Y DOXH  RU Y LFH Y HUVD  (QWHUWKH [  GDWDXVLQJWKHLQVWU XFWLRQVRQ SDJ H   (QWHUWKH[...]

  • Page 92

    92 7: Statistical Calculations (VWLPDWHZKDW WK H OHYHO RIVDOHVZ R XOG EH LI WKH EXVLQHVVSXUFKDVHG RU  PLQXWHVRIDGYHUWLVLQ J  +RZPDQPLQXWHVRI DGYHUWLVLQJV KRXOG$OL· VEXWRDWWDLQVDOHVR I " Keys: Display: Description: 0.00 &OHDU[...]

  • Page 93

    7: Statistical Calculation s 9 3 W eighted Mean 7KHI ROORZLQJSUR FHGXUHFDOFXODWHVWKHZHLJKWHGPHDQRI GDWDSRLQWV [  [ « [ RFFXU ULQJZLWK Z HLJKWV  «   8VH DQG WRHQWHU [  SDLUV  7KH Y DOXHVDUHWKHZHLJKWVR I?[...]

  • Page 94

    10B.book Page 94 Wednesday, June 21, 2000 5:19 PM[...]

  • Page 95

    8: Additional Examples 95 8 Addi tional Examples Business Applications Setti ng a Sale s Price 2QHPHWKRG IR U VHWWLQJ WK H SHU XQLW VDOHV  S ULFH LV WR GHWHU PLQH WKH FRVW RI SURGXFWLRQ SHUXQLWDQ GWKHQPXOWLSOEWKHGHVLUHGUDWHRI UHWXU Q)RU WKLVPHWKRG WR?[...]

  • Page 96

    96 8: Additional Exam ples Forecasting Based on Histor y 2QHPHWKR GRII RUHFDVWLQJVD OHV PDQXIDFWXULQJUD WHV RUH[SHQ VHVLV UHYLHZLQJKLVWRU LFDOWUHQGV 2QFHRXKDY HKLVWRULFDOGDWDWKHGDWDDUHILW WRDFXU YHWKDWKDVWLPH RQWKH [  D[LVDQGTXDQWLWRQ[...]

  • Page 97

    8: Additional Examples 97 Cost of Not T aking a Cash Discount $FDVKGLVFRXQWJLY HV DEXHUD UHGXFWLRQLQSULFHLIWKHSDPHQWLV PDGH ZLWKLQ D VS HFLILHG WLPH SHULRG ) R U H[DPSOH ´ 1(7µ PHDQV WKDW WKHEXHUFDQ GHGXFWSHUFHQWLI?[...]

  • Page 98

    98 8: Additional Exam ples Loans and Mor tgages Simple Ann ual Intere st Example . < RX U J RRG IULH QG QH HGV D ORDQ WR VW DUW KLV ODW HVW  HQWHUSU LVH  DQG KDVDVNHGRXWROHQGKLPIR UGDV < RXOHQ GKLPWKHP RQHDW VLPSOHDQ QXDO[...]

  • Page 99

    8: Additional Examples 99 Examp le . < RXFXU UHQ WOKDY HLQDQDFFRXQWDW'U HDP: RUOG ,QYHVWPHQWVWKDWHDU QVDQ QXDOLQWHUHVWFRPS RXQGHGFRQ WLQXRXVO  $WWKHHQG RIHDFKPRQWKRXG HSR VLW LQWKHDFFRXQW?[...]

  • Page 100

    100 8: Additional Exam ples Example . $QLQYHVWRUZLVKHVWRS XUFKDVHDPRU WJ DJ HWDNHQ RXWDWIRUHDU V 6LQFHWKHPRU WJ DJH ZDVLVVXHGPRQWK O SDPHQWVKDYHEHHQPDGH7KHOR DQLVWRE HSDLGLQIXOODE DOORRQ ?[...]

  • Page 101

    8: Additional Examples 101 Step 3 . (QWHUDFWXDOFXU UH QWY DOXHVIRU 1 DQG 39 WKHQILQ GWKHQHZ ,<5 IR UWKHGLVFR XQWHGPRU WJ DJHZLWKE DOORRQ  Ann ual P er cent a ge Rate f or a Loan Wi th Fees 7KHDQQXDO SHUFHQ WDJH UDWH $35  LQF RUS RUDWHV IHHV XVXDOO FK[...]

  • Page 102

    102 8: Additional Exam ples Example: Interest -Only Loa n With Fee. $ HDU DQQXDOLQWHUHV W LQWHU HVWRQO ORDQK DVDQRULJLQ DWLRQI HHRIWKUHHS RLQWV :KDWLVWKHLH OGWRWKHOHQGHU" $VVXPHWKDWPRQ WKOSDPHQ WV[...]

  • Page 103

    8: Additional Examples 103 Loan With a P artial (Odd) Fir st P e riod 790FDOFXODWLRQVDS SOWRI LQDQFLDOWUDQV DFWLRQV ZKHUHHDFKS DPHQW SHULRGLVWKHV DPHOHQJWK +RZHY HU VLWXDWLRQVH[LVWZK HUHWKHILUV W SDPHQWSHULRG LVQRW WKH VD PH OHQJWK DV WK H UHPDLQLQJSH[...]

  • Page 104

    104 8: Additional Exam ples A utom o bi le Lo a n Example . < RXDUHEXLQJDQ HZVHGDQ< RXUGRZQS DPHQW LVDQGRXDUHJ RLQJWR ILQDQFHWKH UHPDLQLQ J7K HFDU GHDOHULVRII HULQJWZRFKRLFHVIRU I[...]

  • Page 105

    8: Additional Examples 105 &DOFXODWHWKHVHFR QGRSWLRQ  7KHI LUVWRS WLRQFRVWVVOLJK WOOHVV  Canadian Mor tgag es ,Q&DQ DGLDQPRU WJ DJHVWKHFRPS RXQGLQJDQ GSDPHQWSHULR GVDUHQR W WKHVDPH,QWHUHVWLVFR PSR XQGHGVHPLDQ QXDOOZKLOHSDPHQWVDU H PDGHPRQW[...]

  • Page 106

    106 8: Additional Exam ples What if … TVM Calculations 2QHRI WKHPRV WY DOXDEOHDVS HFWVRIWKH+3 %,,· V790DSSOLFDWLR QLV WKHHDVHZLWKZKLFKLWKDQ GOHVWKHTXHVWLR Q´ZKDWLI«µLQI LQDQFLD O FDOFXODWLRQV) RU H[DPSOHRQH RIWKHPRV WSRS XODU´ZKD[...]

  • Page 107

    8: Additional Examples 107 Pa r t 2 . < RXUFRPS DQ· VUHJXODUSDUROOLVJ HQ HUDWHGHYHUR WKHU)ULGD  7KHEDQN DJUH HV W R DXWRPDWLFDOO GUDZ SDPHQWVRI  RXW RI HD FK SDFKHFNDSSUR[LPDWHOKDOIR IZKDWDPR QWKOSDPHQ WZ RXOGEH?[...]

  • Page 108

    108 8: Additional Exam ples Sa vings Sav ing f or College Costs 6XSSRVHRXVWDU WVDYLQJQ RZWRDFFRPPRGDWHDI XWXUHVHULHVR IFDVK  RXWI ORZV $QH[DPSOHRIWK LVLVVDYLQJPRQ HIRUFR OOHJH7 RGHWHU PLQ H KRZPXFKRXQHHGWRVDY HHDFKSHULRGRXPXVWNQRZZK[...]

  • Page 109

    8: Additional Examples 109 :KHQFRP SRXQ GLQJRFFXUVRQORQFHSHUHDUWKHHIIHFWLY HUDWHDQGWKH QRPLQD OUDWHDUHWKHV DPH 6HWWR%HJLQPR GH3UHVV LI BEGIN DQQXQFLDWRULVQ RWGLVSODHG 7KHQ XVHWKDW 39 DVWKH )9 RQ WKHIROORZLQJFDVK I ORZ?[...]

  • Page 110

    110 8: Additional Exam ples 6HWWR(QGPRGH3UHVV LI  BEGIN DQQXQFLD WRULVGLVSODHG Gains That Go Untaxed Until Withdra wal < RXFDQXVHWKH790 DSSOLFDWLRQWR FDOFXODWHWKHIXWXUHYDOXHRIDWD[ IUHHRUWD[ GHIHU UHGDFFR XQW&XU UHQ WWD[ODZVDQGRXU?[...]

  • Page 111

    8: Additional Examples 111 6HWWR%HJLQPR GH3UHVV LI BEGIN DQQXQFLDWRULVQ RWGLVSODHG Ke ys: Display: Description: 1.00 6HWVSDPHQ WSHU HDU  35.00 8.18 6WRUH VQ X PEHU RI SHULRGVDQ GLQWHUHVW UDWH 0.00 6WRU HVDPR XQWRX VWDU WZLWK –2,00 0. 00 6WRUHVDPR X[...]

  • Page 112

    112 8: Additional Exam ples V alue of a T axable Retirement Account 7KLV SUREOHP XVHVWKH790 DSSOLFDWLRQ WRFDOFXODWH WKHIXWXUHY DOXH RID WD[DEOHUHWLUHPH QWDFFRXQ WWKDWUHFHLY HVUHJXODUDQQXDOSDPHQWV EHJLQQLQ JWRGD%HJLQPR GH7 KHDQQXDOWD[RQWKHLQ WHUHV[...]

  • Page 113

    8: Additional Examples 113 Cash Flow Exampl es Wrap-Around Mortgages $ Z UDS DURXQG PRU WJ DJHLV D FRPELQ DWLRQRI UHI LQDQ FLQJ D PR U WJDJ H DQG ERU U RZLQJDJDLQV WUHDOHVWDWHHTXLW 8VXDOOWKHWZ RXQNQRZQTXDQ WLWLHV LQWKHZUDSS HGPRU WJ DJ HDUHWKHQ HZSDPHQWD[...]

  • Page 114

    114 8: Additional Exam ples 7KH QWRFDOFXODWHWKHOHQ GHU· VUHWXU QHQWHU FDVKI ORZVWKDW UH SUHV HQWWKH FRPSOHWH SLFWXUHRIWKH ZUDS DURXQGPRU WJD JHIUR PWKHOHQ GHU· V SRLQ WRI YLHZ :KHQRXJ U RXSWKHDERYHFDVKI ORZV RX·OOILQGWKDW &) ?[...]

  • Page 115

    8: Additional Examples 115 Net Future V alue 7KHQH WIXWXUHY DOXHFDQEHFDOFXODWHGEXVLQJWKH790N HVWR VOL GH WKH QHWSUHVHQ WYDOXH 139 IR UZDUGRQWKH FDVKI ORZGLDJ UDP Example: V alue of a Fund. < RXKDY HPDGH WKH I ROORZLQJ GHSR VLWV RY HU WKHSDV[...]

  • Page 116

    116 8: Additional Exam ples CF6 –2,0 00. 00 (QW HUV FDVK IORZ JURXS  8.80 6WRU HVDQQXDOLQWHU HVW UDWH –29,203. 14 &DOFXODWHVQHWSUH VHQW YDO X H   139  DXWRPDWLFDOOVWRU HGDV 39  24.0 0 6WRUHVNQ RZQY DOXHV  0.00 34,8 00. 58 &DOFXODWHVQHWIXWXUH YDO X H [...]

  • Page 117

    A: Assistance, Batteries, and Service 117 A Assistance , Batteries, and Ser vice +HZOHWW3DFNDUGLVFRPPLWWHGWRSURYLGLQJRXZLWKRQJ R LQJVXSSR U W < RXFDQREWDLQ DQVZHUVWRTXHV WLRQVDER XWXVLQJRXUFDOFXODWRUI URP RXU&DOFXODWRU6XSS RU WGHS DU WPHQW 3OHDVHUHDG´ $QVZ[...]

  • Page 118

    118 A: Assistance, Batteries, and Service Q: :KDWGRHVDQ´(µLQD QXPEHUIR UH[DPS OH (²PHDQ" A: ([SRQHQ WRIWHQIRU H[DPSOHï 5 HIHUWR´6FLHQ WLILF 1RWDWLRQµR QSDJ H  Q: :KGR,JHWDZURQJ DQVZHU?[...]

  • Page 119

    A: Assistance, Batteries, and Service 119 P ower and Bat teries 7KHFD OFXODWRULVS RZHUHGEWZ R YROWOLWKLXPEXWWRQFHOO EDW WH ULH V  :KHQFKDQ JLQJEDWWHULH V XVHRQOIU HVKEXWWRQ FHOOEDWWHULHV %RWKEDWWHULHV PXVWEHFKDQJ HGDWWKHVDPHWLPH 'RQRWXVH?[...]

  • Page 120

    120 A: Assistance, Batteries, and Service  5HPRY HERWKEDWWHU LHV   ,QVHU WWKH QHZEDWWHULHVPDNLQJVXUHWKDWWKHSR VLWLY HVLJQ RQHDFKEDWWHU LVIDFLQ JRXWZDUG  5HSODFHWKHEDWWHU FRP SDU WPHQWOLG  3UHVV  ,IWKHFDOFXODWRU GRHVQR W[...]

  • Page 121

    A: Assistance, Batteries, and Service 121 Determ ining if the Ca lculator Require s Ser vic e 8VHWKHVHJXLGHOLQ HVWRGHWHU P LQHLIWKH FDOFXODWRUUHTXLU HVVHU YLFH,I WKHVHSUR FHGXUHVFR QILU PWKDWWKHFDOFXODWR ULVQRWIXQ FWLRQLQ JSURSHU O  UHDGWKHVHFWLRQ ´,IWKH&DOFXO[...]

  • Page 122

    122 A: Assistance, Batteries, and Service The calculator r esponds to keystro kes but you suspect that it is malfunctioning:  ,WLVOLNHOWKDWRX·Y HPDGHDPLVWDNHLQRSHU DWLQJWKH FDOFXODWRU7 U UHU HDGLQJSRU WLRQ VRIWKHP DQXDODQG FKHFN´ $QVZHUVWR&R PPR Q4XHVWLRQ Vµ?[...]

  • Page 123

    A: Assistance, Batteries, and Service 123 6RPHVWDWHV SURYLQFHV  RU FRXQWULHVGR QR W DOORZ OLP LWDWLRQV RQ KRZ ORQJ DQLPSOLHGZDU UDQ WODVWV VRWKHDE RY HOLPLWDWLRQPDQRWDSS OWRRX ,QQRHYHQWVKDOO+HZOHWW 3DFNDUG&RPSDQEHOLDEOHIRU F[...]

  • Page 124

    124 A: Assistance, Batteries, and Service ,IORFDOVH U YLFHLVXQ DY DLODEOHRXFDQVKLSWKHFD OFXODWRUWRDQ  DXWKRUL]HG+3 VHU YLFHFHQWHUI RUUH SDLU $OOVKLSS LQJUHLPS RU WDWLRQDU UDQJ HPHQWVDQGFXVWRPVFR VWVDUH RXUUHVSR QVLE LOLW  Service Cha r ge 7KH UHLVD[...]

  • Page 125

    A: Assistance, Batteries, and Service 125 Service A greement s ,QWKH8 6 DVXS SRU WDJ UHHPHQ WLVDY DLODEOHIRU UH SDLUDQG VHU YLFH5 HIHUWRWKHIRU PLQWK HIURQ WRIWKHPDQXDO)RU DGGLWLRQDOLQIR U PDWLR QFRQ WDFWD+36HU YLFH&HQWHUVHH WKH L[...]

  • Page 126

    126 A: Assistance, Batteries, and Service Japan Disposal of W aste Equipment by User s in Private Household in the Euro pean Uni on This symbol on the product or on its pac kaging indicates that this pr oduct m ust not be disp osed of wit h you r other household w aste . Instead, it is yo ur responsibility to dispose of y our w aste equipm ent by h[...]

  • Page 127

    A: Assistance, Batteries, and Service 127 during the w arr anty period, HP will replace software media whic h does not execute its program ming instr uctions due to such defects . 3. HP does not wa r rant that the operatio n of HP products will b e uninterr upted or er ror free. If HP is unable , within a reasonable tim e, to re pai r or re plac e [...]

  • Page 128

    10B.book Page 128 Wednesday, J une 21, 2000 5:19 PM[...]

  • Page 129

    B: More Ab out Calcula tions 1 29 B More About Calculations IRR/YR Calcula tions 7KHFD OFXODWRUGHWHU P LQHV , 55<5 IRU DVHWRIFDVK I ORZVXVLQJ PDWKHPDWLFDOIR U PXODVWKDWVH DUFKIRU WKHDQVZHU 7K HSURFHVV  ILQGVDVROXWLR QEHVWLPDWLQJDQ DQVZHUDQGWKHQXV LQJ[...]

  • Page 130

    130 B: More About Calculations Case 5. 7KHF DOFXODWRUGLVS ODV No Solution 7 KHUHLVQ RDQVZHU  7K LVVLWXDWLRQP LJKWEHWKHUHVXOWR IDQHU URUVXFKDVDPLVWDNHLQ NHLQJLQWKHFDVK I ORZV $FR PPR QPLVWDNHWKDWUHVXOWVLQWKLV  PHVVDJ HLVS X[...]

  • Page 131

    B: More Ab out Calcula tions 1 31 Effect of Using Σ – to Correct Data 7KH+3 %,, VWRUHV WKH V WDWLVWLFDO QXPEHU V LQ DQ ´DFFXPXODWHGµ IDV KLRQ ,WGRHVQ·WVWRUHHYHUQXPEHU WKDWRXHQWHUEXWUDWKHULWSHUI RU P V LQWHU P HGLDWHFDOFXODWLRQVZKH QRXSUHVV WKH?[...]

  • Page 132

    132 B: More About Calculations Equations Margin and Markup Calculations  Time V alue of Mone y (TVM) 3D PHQW0RGH)DFWRU 6 IRU(QGP RGHIRU %HJLQPRGH Amor tization %$ / LVLQLWLDOO 39 UR XQGHGWRWKHFXU UHQ WGLVSODVHWWLQJ  307 LVLQLWLDOO 307 URXQGHGWR[...]

  • Page 133

    B: More Ab out Calcula tions 1 33 ) RUHDFKSDPHQWDP RU WL]HG Interest Rate Con versions ,17 %$ / ï L  ,17 LVURXQGHGWRWKHFXU UHQWGLVS ODVHWWLQJ ,17· IRUSHULR GLQ%HJLQPRGH ,17 ,17   ZLWKVLJQRI  307  351 307  ,17 %$ / %$ [...]

  • Page 134

    134 B: More About Calculations Cash-Flo w Calcula tions :KHQ 139  W KHVROXWLRQ IRU  L LVWKHS HULRGLFLQ WHUQD OUDWHRI UHWXU Q L SHULRGLFLQ WHUHVWUDWH M WKHJ URXS QXPEHURIWK HFDVKI ORZ  &) DPRXQWR IWKHFDVK IORZIR UJ UR XS M  Q QXPEHUR[...]

  • Page 135

    B: More Ab out Calcula tions 1 35 Stati stics     [ [ ∑ Q ------- = y y ∑ Q ------ - = [ [ ∑ ∑ --------- - = Sx [ ∑ [ ∑ () 2 Q --------- ----- – Q  – ----------- -------- ----------- - = Sy y ∑ y ∑ () 2 Q ---------- --- - – Q  – ----------- -------- ---------- - = σ x [ ∑ [ ∑ () 2 Q ----[...]

  • Page 136

    .fm Page 136 Thursday, June 22, 2000 12:33 PM[...]

  • Page 137

    C: Messages 137 C Messages 3UHVV R U W RFOHDUDPH VVDJHI URPWK HGLVSOD  All Clea r 0HPRU KDVE HHQHUDVHGSDJ H  COPR HP 2000 &RSULJK WPHVVDJ H Interrupted $Q ,55<5  ,<5 RUDPR U WL]DWLRQFDOFXODWLRQ ZDVLQWHU U XSWHGE SUHVVLQ J  No[...]

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    138 C: Messages running 5XQQLQJ$FDOFXODWLRQLVLQSU RFHVV UFLO 8QGHUI ORZ$QLQWHU PHGLDWHUHV XOWLQ790LVWRR VPDOOIRUWK H+3 %,,WRSUR FHVV7KLVPHVV DJHLVDOVR EULHI OGLVS ODHGLIDQFDOFXODWLRQ XQGHUI ORZV ,QWKLVFDVHLWLV[...]

  • Page 139

    Inde x 13 9 Inde x .HVQRWOLVWHGKHUHFDQEHIRXQG LQWKH DOSKDEHWLFVHFWLR QVRIWKLVLQGH[ Special Keys            ,   ,            ,     [...]

  • Page 140

    140 Index  BEGIN  ,  %HJLQP RGH  %RUUR ZLQJHTXLW  %XRXWYDOXH  C   &DQDGL DQPRU WJDJ HV  &DSLWDOL]HGYDOXH  &DVKI ORZ  ,  GLDJUD PV  GLVF RX QW  HQW HU LQ J  HTX DWLRQV  H[DP SOH V  LQLWLDO  SUREOH[...]

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    Inde x 14 1 )UH TXH QW O $VN HG 4 XHVW LRQV  FULL  FUNC  )XQF WLRQV  )XWXUHYDOXH  ,   G *XDUDQWHH  *XHVVLQJ,5 5<5  I ,QLWLDOFDVKIORZ   INT  ,QWHUH VW FRPSRX QG  VLP SOH  ,QWHU HVW FRQYHUV LRQ DW D JODQFH  ,QWHUHVW?[...]

  • Page 142

    142 Index 139  DWDJODQ FH  D XWR PD WLF V WRU DJ HR I  FDOFXODWLQJ  1XPEH UV GLVS OD IRUP DW  IXOO SUHFLV LRQ  QHJD WLYH  UDQJH RI  URXQGL QJ  VWR ULQ J  O 2GGILUVWSDPHQW    2QHYDU LDEOHVWDWLVWLFV  2SHUDWL QJ FRQGL WL RQV [...]

  • Page 143

    Inde x 14 3 SHIFT  6KLIWNH  6LJQFKDQ JLQJ  6LPSOHLQWHUHVW  6ORSH  6TXDUHURR W  6TXDUHV  6WDQGDUGGHYLDWL RQ  ,  SRSXODW LRQ  VDPSO H   STAT  ,  6WDWLVWLFV DWDJODQ FH  FOHD U LQJ  ,  ,  HQW HU LQ J G DWD  HVWLP[...]

  • Page 144

    10B.book Page 144 Wednesday, J une 21, 2000 5:19 PM[...]