HP (Hewlett-Packard) 0012C-90001 manuale d’uso

F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 1 of 209 Print ed D ate: 2005/7/2 9 Dimension: 14.8 cm x 21 cm hp 12c financial calculator user's guide H Edition 4 HP Part Number 0012C-90001[...]

2 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Notice REGISTER YOUR PR ODUCT AT: www.register.hp.com THIS MANUAL AND ANY EXAMPLES CONTAIN ED HEREIN ARE PROVIDED “AS IS ” AND ARE SUBJECT TO CHANGE WITHOUT NO TICE. HEWLETT-PACKARD COMPANY MAKES NO WARRANTY OF ANY K[...]

3 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 of 209 Print ed D ate: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Introduction About This Handbook This hp 12c user's guide is intended to help you get the most out of your investment in your hp 12c Programmable Financial Calculat or. Although the excitement of acquiring this power[...]

4 Introduction F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm z The various app endices describe additional details of calcul ator operation a s well as warranty and service informatio n. z The Function K ey Index and P r ogramming Key Index at the back of the handbook[...]

5 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 of 209 Print ed D ate: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Contents Introduction .................................................................... 3 About T his H andbook .....................................................................3 F inanci a l Calc ulations in the U[...]

6 Contents F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Clear ing the Financ ial Registers .............................................. 33 Simple Inter est Calc ulations........................................................... 3 3 F inanci a l Calc ulations and t[...]

Contents 7 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Section 6: Statistics Functions ........................................ 7 6 Acc umulating Statistics .................................................................. 7 6 Cor r ecting Acc umulated Statisti cs [...]

8 Contents F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Section 11: Multiple Progr ams ...................................... 120 Stor ing Another Pr ogram ............................................................ 120 Running An other Progr am ....................[...]

Contents 9 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendix es ................................................................ 16 9 Appendix A: The Aut omatic Memor y Stack ................... 17 0 Getting Numbers Int o the Stack: T he K ey.....................[...]

10 Contents F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 10 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm 30/3 60 Day Basis .............................................................. 18 7 Bonds ...................................................................................... 188 Deprec iation ............[...]

11 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 11 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Making Financial Calculations Easy Before you begi n to read through this ha ndbook, let’s ta ke a look at how easy financial calculations can be with your hp 12c. While working through the examples below, don ’t b[...]

12 Making Financial Calculations Easy F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Note: A battery symbol ( ¼ ) shown in the lower-left corn er of the display when the calcul ator is on signifies that the available battery power is n early exhausted. To in stall ne[...]

Making Financial Calculations Easy 13 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 13 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 3: The preceding ex ample showed that the insura nce policy will provide about half the required amount. An additional amount must be set aside to provide the balance (21,396.[...]

[...]

F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Part I Problem Solving[...]

16 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 16 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 1 Getting Started P ow e r On and O ff To begin using your hp 12c, press the ; key * . Pressing ; again turns the calculator off. If not manually turned off, the cal culator will turn o ff automatically 8 to 1[...]

Section 1: Getting Started 17 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Throughout this handbook , references to the operation of an alternate function appear as only the function name i n a box (for example, “The L fun ction …”). References to the selectio[...]

18 Section 1: Getting Started F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 18 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm K ey ing in Lar ge Numbers Since the display ca nnot show more than 10 digits of a number , numbers greater than 9,999,999,999 cannot be enter ed into th e display by key ing in all the digit[...]

Section 1: Getting Started 19 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Simple Arithme tic Calculatio ns Any simple arithmetic calculation involves two numbers and an operation — addition, subtraction, multiplication, or divi sion. To do such a calculation on y[...]

20 Section 1: Getting Started F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 20 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Chain Calculations Whenever the a nswer has just b een calculated and is therefor e in the display, yo u can perform a nother operation with thi s number by simply keying in the second number[...]

Section 1: Getting Started 21 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 21 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display - 21.68 Pressing - subtracts the number just entered fr om the number previously in the display. The calculator displays the resu lt of th is calc ulati on, wh ich is th e [...]

22 Section 1: Getting Started F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Your hp 12c cal culates the answer in just th e same way: Keystrokes Display 3 4 § 12.00 Step 1: Multiply the numbers in t he first parentheses. 5 6 § 30.00 Step 2: Multiply the number[...]

Section 1: Getting Started 23 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Storag e Re gis ter s Numbers (data ) in the hp 12c are stored in memor ies called “stora ge registers” or simply “registers.” ( The singular term “ memory” is someti mes used in[...]

24 Section 1: Getting Started F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Later that same day … Keystrokes Display ; 2,500.00 Turns the calculator back on. : 1 3,250.00 Recalls the cost of the computer to the display. 6 § 19,500.00 Multiplies the quantity order[...]

Section 1: Getting Started 25 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Storage regist er arithmetic is possible with on ly registers R 0 through R 4 . Example: In the example o n page 20, we updated th e balance in your checkbook. Let’ s suppose that becau s [...]

26 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 2 Percentage and Calendar Functions P ercentage F unctions The hp 12c include s three keys for solving p e rcentage problem s : b , à , and Z . You don’t need to convert percentages to thei r decimal equiv[...]

Section 2: Percentage and Calendar Functio ns 27 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Net Amount A net amount — th at is, the b ase amount plus or minus the percentage amount — can be calculat ed easily with you r hp 12c, since the calculator holds the [...]

28 Section 2: Percentage and Calendar Functio ns F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The à key c an be used for calculation s of the percent diffe rence between a wholesale cost and a ret ail cost. If the base number entered is the wh olesale cost, the pe[...]

Section 2: Percentage and Calendar Functio ns 29 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 2 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm T o f i n d w h a t p e r c e n t a g e a n u m b e r i s o f a total, when you already know t he total number: 1. Key in the total number. 2. Press to separate the othe[...]

30 Section 2: Percentage and Calendar Functio ns F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 30 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm[...]

Section 2: Percentage and Calendar Functio ns 31 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 31 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 14.052004 14.05 Keys in date and sepa rates it from number of days to be entered . 120 gD 11,09,2004 6 The expiration date is 11 Sept ember 2004, a Sat[...]

32 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 3 Basic Financial Functions Th e Fi n a nc ia l Re g is t e rs In addition to the data storage registers discussed on page 23, the hp 12c has five special re gisters in wh ich numbers a re stored for fi nanci[...]

Section 3: Basic Financial Functions 33 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Clearing the F inancial Registers Every financial function uses numbers st ored in several of the f inancial registers. Before beginning a new fin ancial calculation, it is go od p[...]

34 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 34 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 7 ¼ 7.00 Stores the annual interest rate. 450 Þ$ –450.00 Stores the princi pal. fÏ 5.25 Accrued intere st, 360-day basis. + 455.25 Total amount: principal p[...]

Section 3: Basic Financial Functions 35 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The exc hange of mone y in a prob lem is depic ted by vert ical arr ows. Money yo u receive i s represe nted by an arro w pointi ng up from the point in the time line when the tran[...]

36 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The form in wh ich n is entered determin es whether o r not the cal culator performs financial calculations in O dd-Period mode (as described on pages 50 through 53). If n is a non[...]

Section 3: Basic Financial Functions 37 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The P ayment Mode One more b it of info rmatio n must be spe cified be fore you c an solve a pro blem involving periodic p ayments. Such payments can be made eit her at the beginni[...]

38 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 38 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm[...]

Section 3: Basic Financial Functions 39 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 3 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Compound Interest Calc ulations Specifying the N umber of Co mpounding P eriods an d the P eriodic Interest Rate Interest rates ar e usually quoted at the annual rate (also ca lled[...]

40 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 40 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm If the answer ca lculated is not an integer (t hat is, there would be nonz ero digits to the right of the decimal point ), the calculator rounds the an swer up to the next higher in[...]

Section 3: Basic Financial Functions 41 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 41 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 12 z 27.33 Twenty -seven year s and four mont hs. Because the calculat or rounds the calculated value of n up to the next higher integer, in the prece ding exampl[...]

42 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 4 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 2: You’re ope ning a saving s account t oday (the middle of the mo nth) with a $775 deposit. The account pays 6 1 / 4 % interest compounded semimonthly. If you make semim[...]

Section 3: Basic Financial Functions 43 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 43 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display MM 4,027.27 Calculates FV – which equals the balance in the account if 58 full deposits were m ade. * :P –50.00 Recalls amount of depo sits. + 3,977.27 Calcu[...]

44 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 44 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: What annual interest rate must be obtained to accumulate $10,000 in 8 years on an inves tment of $6,000 with quarterly compounding ? Keystrokes Display f CLEAR G 8 4 §w [...]

Section 3: Basic Financial Functions 45 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 4 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 1: You’re financing a new car purchase with a loan from an institution that requires 15% interest compound ed mont hly over the 4-year term of the loan. If you can make p[...]

46 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 46 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display f CLEAR G 5 n 5.00 Stores n. 12 ¼ 12.00 Stores i. 17500 P 17,500.00 Stores PMT. Unlike in the previous problem, here PMT is positive since it repres ents cash r[...]

Section 3: Basic Financial Functions 47 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 4 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display f CLEAR G 29 gA 348.00 Calculates and stores n. 14.25 gC 1.19 Calculates and stores i. 43400 $ 43,400.00 Stores PV. g 43,400.00 Sets payment mode to End. P –[...]

48 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 48 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Calculatin g the Future V alue 1. Press f CLEAR G to clea r the financial reg isters. 2. Enter the number of payments or period s, using n or A . 3. Enter the periodic inter est ra[...]

Section 3: Basic Financial Functions 49 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 4 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 2: If you deposit $50 a month (at the beginning of each month) into a new ac count th at pays 6 1 / 4 % annual interest compou nded monthly, how much will you have in th e [...]

50 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 50 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm[...]

Section 3: Basic Financial Functions 51 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 51 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm You can calculate i , PV , PMT , and FV for transactions invol ving an odd period simply by entering a noninteger n . (A noninteger is a number with at least one nonzero digit to th[...]

52 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 1: A 36-month loan for $4,500 accrues interest at a 15% annual percentage rate (APR), with the pa yments made at the end of each m onth. If interest begins accruing on this[...]

Section 3: Basic Financial Functions 53 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 2: A 42-month car loan for $3,950 began accr uing interest on July 1 9, 2004, so that the first period began on Au gust 1, 2004. Payments of $120 are made at the end of ea [...]

54 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 54 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Amortization The hp 12c enables you t o calculate the am ounts applied toward principal and toward interest from a single loan pa yment or from several pa yments, and also tells yo[...]

Section 3: Basic Financial Functions 55 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 573.35 ÞP –573.35 Enters PMT ( with minus sign for cash paid out ). g –573.35 Sets payment mode to End. 12 f! –6,608.89 Portion of first year’s pay me[...]

56 Section 3: Basic Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 1 f! –552.08 Portion of first payment applied to interest. ~ –21.27 Portion of first payment applied to principal. 1 f! –551.85 Portion of secon d payment [...]

57 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 4 Additional Financial Functions Discounte d Cash Flow Analysis: NPV and IRR The hp 12c prov ides funct ions for the two m ost widely- used metho ds of discou nted cash flow analysis: l ( net present value ) [...]

58 Section 4: Additional Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm z If NPV is positive, the fin ancial value of the inve stor’s assets would be increased: the investment is financially attractive. z If NPV is zero, the financial value of t[...]

Section 4: Additional Financial Functions 59 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 5 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The amounts of th e subsequent c ash flows are st ored – in the or der they occur – in the remaining storag e registers: CF 1 thru CF 9 in R 1 thru R 9 , and CF 10 thru CF[...]

60 Section 4: Additional Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 60 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: An investor has an opportunit y to buy a duplex for $80,000 and would lik e a retur n of at leas t 13%. He expe cts to kee p the duplex 5 years and then sell it for $[...]

Section 4: Additional Financial Functions 61 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 61 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Calcula ting NPV for Grou ped Ca sh Flows. A maximum of 20 ca sh flow amounts (in addition to the init ial investment CF 0 ) can be stored in the hp 12c. * H o w e v e r , p r [...]

62 Section 4: Additional Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 6 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: An investor has an opp ortunity to purcha se a piece of prope rty for $79,000; and he would like a 13 1 / 2 % r eturn. He expec ts to be ab le to se ll it af ter 10 y[...]

Section 4: Additional Financial Functions 63 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 6 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Calculatin g Internal Rate of Return (IRR) 1. Enter the cash flows using either of the methods described above under Calculating Net Present Value. 2. Press fL . The calculate[...]

64 Section 4: Additional Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 64 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The complex mathem atical characteristics of the IRR comput ation have an additional ramification: D e pending on the magnitudes and signs of the cash flows, the computation of[...]

Section 4: Additional Financial Functions 65 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 6 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display :ga 2.00 N 5 7 n 7.00 Resets the number in the n re g ister to its original value. To display all the cash flow amounts and the number of times they occur c[...]

66 Section 4: Additional Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 66 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Note: If you change the numbe r in the n regist er in order to change an N j , be sure to reset the n umber in the n regi ster to the total number o f cash flow amounts origin[...]

Section 4: Additional Financial Functions 67 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 6 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm To calculate bond price and yield for a 30/360 bond (that is, using the basis of a 30day month and a 360- day year — such as for municipal bonds, corporate bonds, and state [...]

68 Section 4: Additional Financial Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 68 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: The market is quotin g 88 3 / 8 % for the bond described in the p r eceding example. What yield will that provide ? Keystrokes Display 3 8 z 0.38 Calculates 3 / 8 .[...]

Section 4: Additional Financial Functions 69 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 6 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: A metalworking machine, purchased for $10,000, is depreciated over 5 years. Its salvage value is estimated at $500. Find the depreciation and remaining depreciabl e v[...]

70 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 0 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 5 Additional Operating Features Contin uous Memory The calculator’s Continuous M emory contains the data storage registers, the financial registers, the sta c k and LAST X regi sters, program memory, an d s[...]

Section 5: Additional Operating Features 71 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 71 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Th e D is p l ay Status Indicators Six indicators that appea r along the bottom of the di splay signify the status of the calculator for certain operation s. These st atus in di[...]

72 Section 5: Additional Operating Features F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display f 4 14.8746 f 1 14.9 f 0 15. f 9 14.87456320 Although nine decimal places were specified after f , only eight a re displayed since the di splay can show a to[...]

Section 5: Additional Operating Features 73 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display f. 1.487456 01 The exponent in this example indicates that the decim al point should be moved one decimal place to the right, giving the number 14.87456, whi[...]

74 Section 5: Additional Operating Features F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Errors. If you attempt an improper operation — such as division by zero — the calculator will display the word Error followed by a digit ( 0 through 9 ). To clear the Error[...]

Section 5: Additional Operating Features 75 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Arithmetic Calc ulations With Constants Example: At Permex Pipes a certain pipe fitting is packaged in quantities of 1 5, 75, and 250. If the cost per fitting is $4. 38, calcul[...]

76 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 6 Statistics Functions Ac cumu lati ng S tat is tics The hp 12c ca n perform one- or two-variable statistical calcul ations. The data is entered into the calculator usin g the _ key, which aut o matically cal[...]

Section 6: Statistics Functions 77 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 77 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The table below shows where th e accumulated s tatistics are store d. Register Statistic R 1 (and display) n : number of data pairs accumul ated. R 2 Σ x : summation of x- values. R 3 [...]

78 Section 6: Statistics Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Salesperson Hours/Week Hours/Week 1 32 $17,000 2 40 $25,000 3 45 $26,000 4 40 $20,000 5 38 $21,000 6 50 $28,000 7 35 $15,000 To find the aver age workweek and sales of thi s sample: Key[...]

Section 6: Statistics Functions 79 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 7 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Standard De viation Pressing gv calculates the standard deviation of th e x-value s ( s x ) and o f the y-value s ( s y ). (Th e standard deviation of a set of data is a measure of th e[...]

80 Section 6: Statistics Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 80 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Linear Estimation With two-variable stati stical data accumulate d in the statisti cs registers, you c an estimate a new y-v alue ( y ˆ ) given a new x-v alue , and estimate a new x-val[...]

Section 6: Statistics Functions 81 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 81 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: Compute th e slope and intercept of the regression line in the pr eceding example. Keystrokes Display 0 gR 15.55 y-in tercept ( A); pro jected val ue for x = 0. 1 gR~d~- 0.001 S[...]

82 Section 6: Statistics Functions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 8 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display g 1.19 Weighted mean cost p er gallon. A procedure for calculating the standard deviation and standard error (as well as the mean) of weighted or g rouped data is [...]

83 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 8 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 7 Mathematics and Number-Alteration Functions The hp 12c provides several keys for mathematical function s and for altering, numbers. These functions are useful for specialized financial cal culations as well[...]

84 Section 7: Mathematics and Number-Alteration Fun ctions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 84 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Fractional. Pressing gT replace s the number i n the display by its fra c tional portion — that is, it replaces all digits to the left of th e decimal point by[...]

Section 7: Mathematics and Number-Alteration Fun ctions 85 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 85 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Th e Power Fu nc t io n Pressing q calculates a power of a number — that is, y x . Like the arithm etic function + , q re quires two nu mbers: 1. Key in the ba[...]

[...]

F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 8 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Part II Programming[...]

88 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 88 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 8 Programming Basics Why Us e P rog ram s ? A program is simply a s equence of keyst rokes that is stored in the calculator. Whenever you have to calculat e with the same sequence o f keystrokes several times[...]

Section 8: Programming Basics 89 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 8 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display - 150.00 Price less discount. 5 5. Handling charge. + 155.00 Net cost (price le ss discount plus handling charge). Next, set the calculator t o Program mode and erase a[...]

90 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 90 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: Run the program created above t o calculate the net cost of a typ ewriter listing for $625 and an executive chair lis ting for $159. Keystrokes Display fs 155.00 Sets calculator [...]

Section 8: Programming Basics 91 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 91 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Identifying Instruct ions in Program L in es Each key on the hp 12c keyboard — except for the digit keys 0 through 9 — is identified by a two-digit “keyco de” that corresponds to t[...]

92 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Display ing Program Lines Pressing fs to set the calcul ator from Run mode to Program mode displays the line number and keyc ode for the p rogram line to which th e calculator is currentl[...]

Section 8: Programming Basics 93 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Program line 07 cont ains the last instruction y ou keyed in to pro gram memo ry. However, if you press Ê again, you’ll see t hat this is not the last line stored in program memory: Ke[...]

94 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Expanding Pr ogram M emory If no ins truct ions have be en keye d into program memory, if Continuous Memory has been reset, or if f CLEAR Î has b een pressed (in Program mode), program m[...]

Section 8: Programming Basics 95 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Program memory is automatica lly expand ed like this whenever another se ven instru ctions h ave been ke yed into pr ogram memo ry — that is , when you key an instruction into program l[...]

96 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm z With the calculator in Run mode, pressing gi followed by two digit keys sets the calculator to the program line specified by th e digit keys . Since the calculator is not in Program m o[...]

Section 8: Programming Basics 97 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 2. Result of ex ecutin g pro g ram line 02. Ç 03- 5 Program line 03: 5. 25. Result of ex ecutin g pro g ram line 03. Ç 04- 25 Program line 04: b 156.25 Result of exec[...]

98 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 9 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: Create a program that calculate s the entries in the AMOUNT, TAX, and TOTAL columns f or each item on the jewelry dist ributor’s invoice shown on the next page, and also calcul[...]

Section 8: Programming Basics 99 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 99 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Pressing the gu k e y s i s n o t n e c e s s a r y w h e n w e d o t h e c a l c u l a t i o n s m a n u a l l y , since in Run mode the resul t of every intermediate calculation is di s[...]

100 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 100 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display gu 06- 43 31 Pauses to display TAX. ?+ 2 07- 44 40 2 + 08- 40 ?+ 3 09- 44 40 3 Now, to run the program: Keystrokes Display fs 950.61 Sets calculator to Run m ode. f CL[...]

Section 8: Programming Basics 101 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 101 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm If the duration of the pause is not long enough to write down the number displayed, you can prolong it by using m ore than one u inst ruction. Alternatively, you can have the program aut[...]

102 Section 8: Programming Basics F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 10 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 24 85 85. Third item. t 2,040.00 AMOUNT for third item. t 137.70 TAX for third item. t 2,177.70 TOTAL for third item. 5 345 345. Fourth item. t 1,725.00 AMOUNT fo[...]

103 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 103 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Sect ion 9 Branching and Looping Although the instructions in a prog ram no rmally a re executed in order of the ir program line numbers, i n some situations it is desirabl e to have program execution tr an sfer or [...]

104 Section 9: Bra nching and Looping F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 104 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Looping If a i instruction specifies a lower-numb er ed line in program memory, th e instructions in the program lines between th e specified line and the i inst ruction will be exec[...]

Section 9: Branching and Looping 105 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 105 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display : 0 02- 45 0 Recalls the number of payments to be amortized. T his program line is the one to which pro g ram execu tion will later branch. It i s included because [...]

106 Section 9: Bra nching and Looping F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 106 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display Ê 02- 45 0 Line 02: : 0. This is the be g innin g of the first pass t hrough the loop. 1.00 Ê 03- 42 11 Line 03: f! . –531.25 Portion of first month’s payme [...]

Section 9: Branching and Looping 107 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 10 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display Ê 07- 43, 33 02 Line 07: gi 02. This is the end o f the second pass through the loop. –12.23 t –530.99 Portion of third month’s paymen t applied to interest[...]

108 Section 9: Bra nching and Looping F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 108 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The program line immediatel y following that containing the conditional test instruction can contain any instruction; however, the mo st commonly used instruction there is i . If a i[...]

Section 9: Branching and Looping 109 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 109 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm We’ll key the income into the di splay before running the program so that it will be in the X-register w hen the : 0 instruction in prog ram line 01 is executed . This instruction w[...]

110 Section 9: Bra nching and Looping F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 110 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display gi 07 04- 43, 33 07 If condition is true, branch es to program line 07 . : 2 05- 45 2 If condition is false, recalls 25% tax rate to X-register. gi 08 06- 43, 33 0[...]

Section 9: Branching and Looping 111 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 111 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 15,000.00 Ê 07- 45 1 Line 07: : 1. 20.00 20% tax rate ha s been recalled t o X-register, moving income to Y-register. Ê 08- 25 Line 08: b . 3,000.00 20% of 15,000[...]

112 Section 9: Bra nching and Looping F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 112 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display Ê 02- 34 Line 02: ~ . 25,000.00 In come has been plac ed in X-register and test v alue has been placed in Y-register. Ê 03- 43 34 Line 03: go . 25,000.00 Ê 05- [...]

113 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 113 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 10 Program Editing There are vario us reasons why you might want to modify a program you have stored in Program mem o ry: to correct a p r ogram that turns out to have errors; to insert new instructions such[...]

[...]

Section 10: Program Editing 115 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 115 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Adding Ins truc tions Within a Program If an instruction is to be added within a p r o g r a m , s i m p l y k e y i n g i t i n w i l l r e p l a c e the instruction previously stored in [...]

116 Section 10: Program Editing F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 116 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: Assuming you have add ed a - instruction at the end of program memory as in the pr eceding examp le, suppose you no w wanted to inser t an t instruction before the - instruction s[...]

Section 10: Program Editing 117 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 117 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm 5. Press gi 00. This automatically con verts a data storage regi ster into seven additio nal lines of progr am memor y (if the re was no t alread y a i 00 instruction remaining at the end [...]

118 Section 10: Program Editing F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 118 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display : 3 12- 45 3 ~ 13- 34 go 14- 43 34 gi 00 15- 43, 33 00 Added instructions. : 0 16- 45 0 Keys in instruction imm ediately following point at which new instructions are be[...]

Section 10: Program Editing 119 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 119 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm[...]

120 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 120 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 11 Multiple Programs You can store multiple p rograms in program me mory, provided that you s eparate them by instructi ons that will halt program exec ution after each program is run and return to the begin[...]

Section 11: Multiple Programs 121 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 121 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 1: Assuming th at program memo ry still contains the last program from the preceding section (which consisted o f 17 program lin es), store after t hat program the office-su ppli[...]

122 Section 11: Multiple Programs F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 2: With the two programs now stored in program memory from the preceding examples (occupying 27 program lines), store the amortization program from Section 9(page 103). Since th[...]

F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Part III Solutions[...]

124 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 12 Real Estate and Lending Annual P e rcentage Rate Calculations With F ees Borrower s are usually ch arged fees in connection wi th the issuance o f a mortgage, which effectivel y raises the inter est rate[...]

Section 12: Real Estate and Lending 125 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 1: A borrowe r is charged 2 points f or the issuance of his mortgag e. If the mortgage amount is $60,000 for 30 years and the interest rate is 11 1 / 2 % per year, with mo[...]

126 Section 12: Real Estate and Lending F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 3: Again using the information given in example 1, what is the APR if the mortgage fee is stated as 2 points plus $150 ? Keystrokes Display g f CLEAR G 30 gA 360.00 Mont[...]

Section 12: Real Estate and Lending 127 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 1: A lender wish es to induce the bo rrower to prepay a low intere st rate loan. The interest rate is 5% with 72 payments remaining of $137.17 and a balloon payment at the[...]

128 Section 12: Real Estate and Lending F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Yield of a Mortgage T raded at a Discount or Pr emium The annual yield of a mortg age bought at a discount or premium can be calculated given the original mortgage amount, intere [...]

Section 12: Real Estate and Lending 129 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 12 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 79000 Þ$ –79,000.00 Input price of mortgage (int o PV; negative to indicate money paid out). ¼ 0.97 Yield per month (calculated). 12 § 11.68 Percent annual[...]

130 Section 12: Real Estate and Lending F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 130 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Th e Re n t or B u y De c i s i on The ques tion of whe ther to r ent or purc hase a resi dence is not always ea sy to answer, especi ally when the time period over whic h you woul[...]

Section 12: Real Estate and Lending 131 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 131 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY : 1 10- 45 1 - 44- 30[...]

132 Section 12: Real Estate and Lending F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 13 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm REGISTERS n: Period i: Apprec. PV: Price PMT: Use d FV: Used R 0 : Period R 1 : Dwn Pmt R 2 : Life R 3 : i(Mtg) R 4 : Taxes/Mo R 5 : Improve. R 6 : Closing C. R 7 : % Comm. R 8 : [...]

Section 12: Real Estate and Lending 133 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 13 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm 16. Press t to compute the yield on your investment in the house. * 17. Press t to compute the valu e of a savings acco unt or other in vestment. 18. Compare the value of the hypo[...]

134 Section 12: Real Estate and Lending F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 134 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 4 n 4.00 Years in investment. 10 ¼ 10.00 Yearly appreciation rate. 70000 $ 70,000.00 House price. t 32,391.87 NCPR (calculated). t 19.56 Yield. t 21,533.79 Bala[...]

Section 12: Real Estate and Lending 135 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 13 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Leases often ca ll for periodic contra ctual adjustments of rental payments. For example, a 2-year lea se calls for monthly payme nts (at the beginning of the month) of $500 per m[...]

136 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 136 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 13 Investment Analysis Pa r t i a l -Y e a r D e p r e c i a t i o n For both income tax purposes and financial analyses, it is va luable to calculate deprec iation b ased on a ca lendar or f iscal accou nt[...]

Section 13: Investment Analysis 137 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 13 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY ? 3 14- 44 3 gu 36- 43 31 :$ 15- 45 13 :$ 37- 45 13 ~ 16- 34 :M 38- 45 15 - 17- 30 - 39- 30 $ 18- 13 : 3 40- 45 3 :n 19- 45 11 gi 30 41-43, 33 30[...]

138 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 138 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Note: I f t h e n u m b e r o f m o n t h s i n t h e f i r s t c a l e n d ar y e a r i s l e s s t h a n 1 2 , t h e amount of dep reciation in the 1st y e ar will be less than a fu[...]

Section 13: Investment Analysis 139 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 13 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 25 n 25.00 Life. 25 25.00 Year desired. 4 t ~ 25.00 5,000.00 3,333.33 Twenty-fifth year: depreciation, remaining de preciable v alue. t ~ 26.00 3,333.33 0.00 Twen[...]

140 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 140 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY 1 07- 1 1 27- 1 - 08- 30 ?+ 0 28-44 40 0 ? 0 09- 44 0 ?+ 2 29-44 40 2 1 10- 1 gi 22 30-43, 33 22 f# 11- 42 25 : 2 31- 45 2 : 1 12- 45 1 gu 32- 43 [...]

Section 13: Investment Analysis 141 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 141 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm remainin g depreciabl e value. I f desired, pr ess :$: 3 =~-:M- t o find the total depreciation th rough the current year. 9. Press t for the amount of depreciation then, if desired, p[...]

142 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 14 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY ? 2 06- 44 2 : 0 28- 45 0 1 07- 1 fÝ 29- 42 24 - 08- 30 t 30- 31 ? 0 09- 44 0 1 31- 1 1 10- 1 ?= 0 32-44 40 0 fÝ 11- 42 24 ?= 2 33-44 40 2 : 1 [...]

Section 13: Investment Analysis 143 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 143 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm 7. Key i n the nu mber of months i n first yea r * then press t . † The display will show the amount of depreciation for the desired year. If de sired, press ~ to see the remaining [...]

144 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 144 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Full- and P ar tial- Y ear De preciation wi th Crossov e r When calculating declining-b alance depreciation it is often advantageous f or tax purposes to switch from declini ng balance[...]

Section 13: Investment Analysis 145 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 14 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY § 17- 20 n 66- 11 ? 1 18- 44 1 0 67- 0 :$ 19- 45 13 ? 6 68- 44 6 ~ 20- 34 1 69- 1 - 21- 30 ?- 2 70-44 30 2 $ 22- 13 ?= 0 71-44 40 0 23- 36 : 5[...]

146 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 146 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY ?+ 1 43-44 40 1 : 6 92- 45 6 ? 5 44- 44 5 gm 93- 43 35 :$ 45- 45 13 gi 74 94-43, 33 74 :M 46- 45 15 gi 58 95-43, 33 58 - 47- 30 fs REGISTERS n: Li[...]

Section 13: Investment Analysis 147 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 14 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example: An electronic instrument is purchased for $11,000, with 6 months remaining in the current fiscal year. The i nstrument’s us eful life is 8 years and t he salvage value is e[...]

148 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 148 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Ex cess Depreciation When accelerated depreciation is used , the difference bet ween total depreciation charged over a given period of time and th e total amount that would have been [...]

Section 13: Investment Analysis 149 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 14 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm This Modified Intern al Rate of Return procedure ( MIRR ) is one of several IR R alternatives which avoids the draw backs of the traditional IRR technique. The procedure eliminates th[...]

150 Section 13: Investment Analysis F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 150 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 10 gCfl 657,152.37 NPV of positive cash flows. Þ$ 20 nM 775,797.83 NFV of positive cash flows. 180000 ÞgJ 0 gK 5 ga 100000 ÞK 5 ga 6 gCfl -660,454.55 NPV of nega[...]

151 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 151 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 14 Leasing Adv ance P ayments Situations may exist wh ere payments are made in advance (leasing is a good example). Thes e agreements call for extra payments to be made when the trans actio n is clo sed. Thi[...]

152 Section 14: Leasing F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm If solving for the payment am ount will be done repetitively, key i n the following hp 12c program. KEYSTROKES DISPLAY KEYSTROKES DISPLAY fs 1 09- 1 f CLEAR Î 00- Þ 10- 16 g 01- 43 8 P 11- 14[...]

Section 14: Leasing 153 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 2: Using the precedin g program, solve for th e monthly paymen t using the information given in exampl e 1. Then change the yearly interest to 15% and solve for the new paym ent amount. K[...]

154 Section 14: Leasing F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 154 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Solving for Yield To calculate the peri odic yield, information is entered as follow s: 1. Press g and f CLEAR G . 2. Key in the total number of pay ments in the leas e then press . 3. Key in [...]

Section 14: Leasing 155 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm If solving for yield will be done repetitively, key in th e following hp 12c program: KEYSTROKES DISPLAY KEYSTROKES DISPLAY fs : 3 09- 45 3 f CLEAR Î 00- Þ 10- 16 g 01- 43 8 : 1 11- 45 1 f CL[...]

156 Section 14: Leasing F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 25000 ? 3 t 17.33 Annual yield (as a percentage). 625 ? 2 t 19.48 Annual yield (as a percentage) when PMT is increased $25. Adv ance P ay m ents With R esidual Situations may a[...]

Section 14: Leasing 157 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm REGISTERS n: Used. i: Interest PV: Used PMT: –1. FV: Residual R 0 : # Pmts (n) R 1 : Interest. R 2 : Loan. R 3 : Residual R 4 : # Adv. Pmt. R 5 : Used R 6 –R .6 : Unused 1. Key in the program[...]

158 Section 14: Leasing F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Example 2: Using the information from example 1, what would the monthl y payments be if the less or desired a yield of 18% annually ? Keystrokes Display 487.29 From previo us example. 18 12 z 1[...]

Section 14: Leasing 159 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 15 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display §=gJ –4,710.00 Net amount of cash advanced. 145 gK 34 ga 34.00 Thirty-four c ash flows of $145.00. 0 gK 0.00 Thirty-fifth cash flow. 1500 gK 1,500.00 Thirty-sixth cash flow.[...]

160 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 160 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 15 Savings Nominal Rate Converted to Effec tive Ra te Given a nominal interest rat e and the number of compounding periods pe r year, this keystroke pr ocedure computes the effecti ve annual interest rate. 1[...]

Section 15: Savings 161 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 161 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm REGISTERS n: # Periods. i: Nom. Rate/n PV: 0 PMT: Used. FV: Eff. Rate R 0 –R .9 : Unused 1. Key in the program. 2. Key in the annual nominal rate as a pe rcentage then press . 3. Key in the nu[...]

162 Section 15: Sa vings F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 16 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Nominal Rate Converted to Continu ous Effec tiv e Rate This proc edure conv erts a nomin al annual i n terest rate to the continuous eff ective rate. 1. Press 1 . 2. Key in the nominal rate as[...]

163 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 16 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Secti on 16 Bonds 30/3 60 Day Basis Bonds A bond is a contract to pay interest, usually semiannuall y, at a given rate ( coupon) and to pay the princi pal of the bond at some specifi ed future date. A bond which is [...]

164 Section 16: Bonds F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 164 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm KEYSTROKES DISPLAY KEYSTROKES DISPLAY d 14- 33 d 39- 33 1 15- 1 : 1 40- 45 1 8 16- 8 + 41- 40 0 17- 0 Þ 42- 16 z 18- 10 $ 43- 13 n 19- 11 ¼ 44- 12 gT 20- 43 24 2 45- 2 1 21- 1 § 46- 20 ~ 22- 34 f[...]

Section 16: Bonds 165 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 16 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm For a new case return to step 3. Note that only those values which have been changed need t o be reentered and stored. 8. If yield is desired: a. Press 0 ? 0. b. Key in the pri c e as a percent age[...]

166 Section 16: Bonds F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 166 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Annual Coupon Bonds For bonds which hav e annual coupon s, use the following hp 12c prog ram to evalua te price an d accrue d interes t on an Act ual/Act ual day basi s. This pro gram may be modifi[...]

Section 16: Bonds 167 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 16 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm REGISTERS n: Used i: Yield PV: Used PMT: Cpn. o r 0 FV: Used R 0 : # Peri ods (n) R 1 : Yield R 2 : Coupon R 3 : Redemption R 4 : Settlement R 5 : Next Cpn. R 6 : Last Coupon R 7 : Used R 8 –R .5[...]

[...]

F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 16 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendixes[...]

17 0 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 0 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendi x A The Automatic Memory Stack Four special re g isters in the hp 12c are used for storin g numbers durin g calculations. To un derstand how these re g isters are use d, they should b e visualized as stacke[...]

Appendix A: The Automatic Memory Stack 171 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 171 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Now let’s see what ha ppens in the stack during a ch ain calculation: 7 ) 6 5 ( ) 4 3 ( × + ×[...]

172 Appendix A : The Automatic Memory Stack F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm T erminatio n of Digi t Entry The first digit keyed in after digit entry has been termin ated replaces the number already in the displayed X-register. Digit entry is automatic[...]

Appendix A: The Automatic Memory Stack 173 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Pressing d four times succes sively displays the num bers in the Y-, Z-, an d T-registers and returns the number s to their original registers. One -Nu mber Funct ions and t he[...]

174 Appendix A : The Automatic Memory Stack F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm When an arithmetic operation or q is performed, the answer is placed in the X-register , the number former ly in the X-register is cop ied into the LAST X regist er, and the s[...]

Appendix A: The Automatic Memory Stack 175 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Calendar and Financial F unctions The following table shows what quantity is in each stack register after t he indicated calendar or financial function key is pressed. The symb[...]

176 Appendix A : The Automatic Memory Stack F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The LAST X R egiste r and th e Key The number in the disp layed X- register is copied into the LAST X register whenever any o f the following function keys is pressed: + - § [...]

Appendix A: The Automatic Memory Stack 177 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 177 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm The diagram on page 171 illustrates how th e automatic stac k lift and stack drop make chain calculation s quick and error-free. Virtually ev ery chain calcu lation you ar e lik[...]

178 Appendix A : The Automatic Memory Stack F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Keystrokes Display 84000 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. § 67[...]

17 9 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 17 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendi x B More About L Given a sequence of positive and negative cash flows, we hop e that there is enough information to determine w hether an IRR answer exists, and what that a n s w e r i s . F o r t h e v a s[...]

180 Appendix B: More About L F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 180 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Your guess will aid th e calculator in its search, and if it finds an IRR answe r near your guess, that answer will be displayed. Since the calculator cannot tell you t he number of solutions[...]

181 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 181 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendi x C Error Conditions Some calculator operation s cannot be p e rformed under certain conditions (for example, z when x = 0). If you atte mpt such an opera tion under these co nditions, the calculator will dis[...]

182 Appendix C: E rror Conditions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 18 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Err or 1: Stor age Register Overflo w Operation Condition ?+ (0 through 4) ?- (0 through 4) ?§ (0 through 4) ?z (0 through 4) A Magnitude of result is greater than 9.999999999×10 99 .[...]

Appendix C: Error Conditions 183 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 183 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Error 5: Compound Interest Operation Condition n PMT ≤ –PV × i PMT = FV × i i ≤ –100 The values in i, PV, and FV are such that no solution exists for n . ¼ PMT = 0 and n < [...]

184 Appendix C: E rror Conditions F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 184 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Error 7 : I RR Refer to Append ix B. Error 8: Cale ndar Operation Condition Ò D Improper date format o r illegal date. D Attempting to add days beyond calculator’s date capacity. E S [...]

185 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 185 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendi x D Formulas Used Pe rc e n t a g e 100 ) Rate( ) Base( % x y × = ⎟ ⎟ ⎠ ⎞ ⎜ ⎜ ⎝ ⎛ − = ∆ ) Base( ) Base( ) NewAmount( 100 % y y x ⎟ ⎟ ⎠ ⎞ ⎜ ⎜ ⎝ ⎛ = ) Total( ) Amount( 100 [...]

186 Appendix D: Formulas Used F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 186 o f 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Compound Interest Without an odd period: n n i FV i i PMT iS PV − − + + ⎥ ⎥ ⎦ ⎤ ⎢ ⎢ ⎣ ⎡ + − ⋅ ⋅ + + = ) 1 ( ) 1 ( 1 ) 1 ( 0 With simple intere st used for an odd p[...]

Appendix D: Formulas Used 187 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 18 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Discounted Cash Flow Analy sis Net Pre sent V alue NPV = net present value of a discounted cash flow. CF j = cash flow at period j . n n i CF i CF i CF CF NPV ) 1 ( ... ) 1 ( ) 1 ( 2 2 1 1 [...]

188 Appendix D: Formulas Used F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 188 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Bonds Reference: Spence, Graudenz, a nd Lynch, Standard Securities Calculation Met hods , Securities Industry Association, New York, 1973. DIM = days between iss ue date and maturit y date. [...]

Appendix D: Formulas Used 189 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 18 9 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Depreciati on L = as set’s useful lif e expectancy . SBV = starting book value. SAL = salvage value. FACT = d eclini ng-bal ance fact or expres sed as a perc entage. j = period number. DP[...]

190 Appendix D: Formulas Used F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 190 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Program for part ial year: ) ( 12 1 1 SAL SBV Y SOYD L DPN − ⋅ ⎟ ⎠ ⎞ ⎜ ⎝ ⎛ ⋅ ⎟ ⎠ ⎞ ⎜ ⎝ ⎛ = ) ( 2 1 SAL D SBV SOYD j LADJ DPN LADJ j − − ⋅ ⎟ ⎟ ⎠ ⎞ [...]

Appendix D: Formulas Used 191 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 191 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Interest Rate Conversions C = number of compounding periods per year. EFF = the effective annual interest rat e as a decimal. NOM = the nominal annual interest rate as a de cimal. Finite Com[...]

192 Appendix D: Formulas Used F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm () () ⎥ ⎥ ⎦ ⎤ ⎢ ⎢ ⎣ ⎡ − ⋅ ⎥ ⎥ ⎦ ⎤ ⎢ ⎢ ⎣ ⎡ − ⎥ ⎦ ⎤ ⎢ ⎣ ⎡ ⋅ − = ∑ ∑ ∑ ∑ ∑ ∑ ∑ n y y n x x n y x xy r 2 2 2 2 Standard Dev i[...]

19 3 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 3 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendi x E Battery, Warranty, and Service Information Battery The hp 12c is shipped with one 3 Volt CR2023 Lithium batte ry. Battery life depends on how the calculator is us ed. If the calculato r is being used to[...]

194 Appendix E: B attery, Warra nty, and Service Information F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 4 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm To install a n ew battery, use the fo llowing proc edure:[...]

Appendix E: Battery, Warra nt y, and Service Information 195 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 5 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm the ¼ battery power indi cator) should turn on. * If the display sho ws Error 9 , goes blank, or otherwis e does not show the pro per result, the calculator [...]

196 Appendix E: B attery, Warra nty, and Service Information F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 6 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Wa r r a n t y hp 12c Financial Calculator; W arranty period: 12 months 1. HP warrants to you, the end-us er customer, th at HP hardware, a ccessories and sup[...]

Appendix E: Battery, Warra nt y, and Service Information 197 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Some countries, States or p rovinces do not allow the e xclusion or limitation of incidental or conseque ntial damages, so the above limitation or exclusion m[...]

198 Appendix E: B attery, Warra nty, and Service Information F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 19 8 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Asia Pacific Country : Telephone numbers Australia +61-3-9841-5211 Singapore +61-3-9841-52 11 L.America Country : Telephone nu mbers Argentina 0-810- 555-5520[...]

Appendix E: Battery, Warra nt y, and Service Information 199 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 199 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Reg ul ato r y I nfo rma ti on This section con tains information that show s how the hp 12c financial calculator complies with regulations in certain regi on[...]

200 Appendix E: B attery, Warra nty, and Service Information F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 200 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Disposal o f W aste Equipm ent by Users in Priv ate Household in th e European Union This symbol on the prod uct or on its packaging indicates th at this produ[...]

201 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 201 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Appendi x F United Kingdom Calculations The calculations fo r most financial proble ms in the United Kingdom are identical to the calculations fo r those problems in th e United States — which are des cribed earlie[...]

202 Appendix F: U nited Kingdom Calculations F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 20 2 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Annual P ercentage Rate (APR) Calculations In the United Kin gdom, the calcula tion of the Ann ual Percenta ge Rate of Ch arge (APR) in accordance with the United Kingdom Con[...]

203 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 203 of 20 9 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Function Key Index General ; Power on /off key (page 16) . f Shift key. Selects alternate function in gold above the function keys (page 16) . Also used in display formatting (page 71) . g Shift key. Selects alterna[...]

204 Function Key Index F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 204 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Financial CLEAR G Clea rs contents of financial registers (pag e 33) . × Sets payment mode to Begin for compound interest calculations involving payments (page 37) . Â Sets payment mode to End fo[...]

Function Key Index 205 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 205 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Ö Computes m ean (average) of x-value s and y-value s using accumulated stat istics (page 77) .  Computes w eighted average of y- (item) and x -(weight) values using accumulated stat istics (pa[...]

206 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 206 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Programming Key Index s P r o g r a m / R u n . T o g g l e s i n t o a n d o u t of Program mode. Automati cally sets program to line 00 when returni ng to Run mode (page 86) . N Mem ory map . De scri bes the curren[...]

Programming Key Index 207 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 20 7 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Program Mode Run Mode Active Keys: i Go to. Foll owed by a decimal point and a two-di g it number, positions calculator to that line in program memory. No instructions are exe c uted (page 95) [...]

208 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 208 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Subject Index A , 12 , 54, 17 2 Adding instruc t ions , 114–19 Ad vance pa yments, 151, 15 6 Amorti zati on, 3 8, 5 4–5 6, 18 6 An n u a l i nt e re st ra t e, 39 Annual P ercent age Rate , 5 2–5 3, 12 4–2 6,[...]

Subject Index 209 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 209 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Compound inter est, 3 9–5 3, 18 6 Compound inter est calculation , 11 Compo unding peri ods, 34 , 3 9 Conditio nal branc hing, 10 7–8 Conditio nal test instructi ons, 10 7 Constants, arithmetic c al[...]

210 Subject Index F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 210 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Inter est, sim ple , 3 3 Inter nal rate of r eturn , 5 7 Inter nal rat e of retur n, calc ulating , 63 Inter nal rat e of retur n, modifi ed, 14 8 Inter rupting a pr ogram , 9 7 IRR, 5 7 , 14 8 K K eybo[...]

Subject Index 211 F ile name: hp 12c_user's guide_English_HDPMBF12E44 P age: 211 of 209 Print ered Date: 2005/7/2 9 Dimension: 14.8 cm x 21 cm Progr am, r unning one line at a time , 94 Progr am, stopp ing, 9 7 , 101 Progr am, storing , 120 Progr amming, 8 8 Progr ams, multiple, 120 PV , 36 R , 8 3 Reci proc a l, 83 reg i st er s, 23 Reg is te[...]