HP (Hewlett Packard) 17bII User Manual

hp 17bII+ Financial Calculator  
Owner’s Manual  
Edition 2  
Part Number F2234-90020  
Welcome to the hp 17bII+  
The hp 17bII+ is part of Hewlett-Packard’s new generation of calculators:  
The two-line display has space for messages, prompts, and labels.  
Menus and messages show you options and guide you through problems.  
Built-in applications solve these business and financial tasks:  
Time Value of Money. For loans, savings, leasing, and amortization.  
Interest Conversions. Between nominal and effective rates.  
Cash Flows. Discounted cash flows for calculating net present value  
and internal rate of return.  
Bonds. Price or yield on any date. Annual or semi-annual coupons;  
30/360 or actual/actual calendar.  
Depreciation. Using methods of straight line, declining balance,  
sum-of-the-years’ digits, and accelerated cost recovery system.  
Business Percentages. Percent change, percent total, markup.  
Currency Exchange. Exchange calculations between two currencies.  
Statistics. Mean, correlation coefficient, linear estimates, and other  
statistical calculations.  
Clock. Time, date, and appointments.  
Use the Solver for problems that aren’t built in: type an equation and then  
solve for any unknown value. It’s easier than programming!  
There are 28K bytes of memory to store data, lists, and equations.  
You can print information using the hp 82240 Infrared Printer.  
You can choose either ALG (Algebraic) or RPN (Reverse Polish Notation)  
entry logic for your calculations.  
Welcome to the hp17bII+  
3
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Contents  
13  
16  
List of Examples  
Important Information  
1
17  
17  
17  
18  
18  
19  
19  
21  
22  
22  
23  
25  
27  
28  
28  
29  
30  
Getting Started  
Power On and Off; Continuous Memory  
Adjusting the Display Contrast  
Setting the Language  
What You See in the Display  
The Shift Key (  
)
@
Backspacing and Clearing  
Doing Arithmetic  
Keying in Negative Numbers (  
Using the Menu Keys  
The MAIN Menu  
Choosing Menus and Reading Menu Maps  
Calculations Using Menus  
Exiting Menus (  
Clearing Values in Menus  
Solving Your Own Equations (SOLVE)  
Typing Words and Characters: the ALPHAbetic  
Menu  
)
&
)
e
31  
32  
34  
34  
34  
34  
35  
35  
Editing ALPHAbetic Text  
Calculating the Answer (CALC)  
Controlling the Display Format  
Decimal Places  
Internal Precision  
Temporarily SHOWing ALL  
Rounding a Number  
Exchanging Periods and Commas in Numbers  
4
Contents  
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36  
36  
37  
Error Messages  
Modes  
Calculator Memory (  
)
@M  
2
38  
38  
38  
40  
40  
40  
41  
42  
43  
43  
44  
45  
46  
47  
48  
Arithmetic  
The Calculator Line  
Doing Calculations  
Using Parentheses in Calculations  
The Percent Key  
The Mathematical Functions  
The Power Function (Exponentiation)  
The MATH Menu  
Saving and Reusing Numbers  
The History Stack of Numbers  
Reusing the Last Result (  
Storing and Recalling Numbers  
Doing Arithmetic Inside Registers and Variables  
Scientific Notation  
)
@L  
Range of Numbers  
3
4
49  
50  
50  
50  
51  
52  
52  
53  
Percentage Calculations in Business  
Using the BUS Menus  
Examples Using the BUS Menus  
Percent Change (%CHG)  
Percent of Total (%TOTL)  
Markup as a Percent of Cost (MU%C)  
Markup as a Percent of Price (MU%P)  
Sharing Variables Between Menus  
54  
54  
55  
57  
Currency Exchange Calculation  
The CURRX Menu  
Selecting a Set of Currencies  
Entering a Rate  
Contents  
5
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59  
59  
60  
Converting between Two Currencies  
Storing and Recalling Sets of Currencies  
Clearing the Currency Variables  
5
61  
61  
64  
66  
67  
71  
74  
77  
78  
82  
Time Value of Money  
The TVM Menu  
Cash Flow Diagrams and Signs of Numbers  
Using the TVM Menu  
Loan Calculations  
Savings Calculations  
Leasing Calculations  
Amortization (AMRT)  
Displaying an Amortization Schedule  
Printing an Amortization Table  
6
7
84  
85  
85  
87  
Interest Rate Conversions  
The ICNV Menu  
Converting Interest Rates  
Compounding Periods Different from Payment Periods  
91  
91  
92  
94  
95  
97  
98  
Cash Flow Calculations  
The CFLO Menu  
Cash Flow Diagrams and Signs of Numbers  
Creating a Cash-Flow List  
Entering Cash Flows  
Viewing and Correcting the List  
Copying a Number from a List to the Calculator  
Line  
98  
99  
99  
100  
107  
Naming and Renaming a Cash-Flow List  
Starting or GETting Another List  
Clearing a Cash-Flow List and Its Name  
Cash-Flow Calculations: IRR, NPV, NUS, NFV  
Doing Other Calculations with CFLO Data  
6
Contents  
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8
9
108  
108  
110  
Bonds  
The BOND Menu  
Doing Bond Calculations  
114  
114  
116  
116  
118  
119  
Depreciation  
The DEPRC Menu  
Doing Depreciation Calculations  
DB, SOYD, and SL Methods  
The ACRS Method  
Partial-Year Depreciation  
10  
121  
122  
123  
123  
124  
126  
Running Total and Statistics  
The SUM Menu  
Creating a SUM List  
Entering Numbers and Viewing the TOTAL  
Viewing and Correcting the List  
Copying a Number from a List to the Calculator  
Line  
126  
127  
127  
127  
128  
130  
133  
138  
139  
140  
Naming and Renaming a SUM List  
Starting or GETting Another List  
Clearing a SUM List and Its Name  
Doing Statistical Calculations (CALC)  
Calculations with One Variable  
Calculations with Two Variables (FRCST)  
Curve Fitting and Forecasting  
Weighted Mean and Grouped Standard Deviation  
Summation Statistics  
Doing Other Calculations with SUM Data  
11  
141  
141  
Time, Appointments, and Date Arithmetic  
Viewing the Time and Date  
Contents  
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142  
143  
144  
144  
145  
145  
147  
148  
148  
149  
150  
150  
151  
The Time Menu  
Setting the Time and Date (SET)  
Changing the Time and Date Formats (SET)  
Adjusting the Clock Setting (ADJST)  
Appointments (APPT)  
Viewing or Setting an Appointment (APT1-APT10)  
Acknowledging an Appointment  
Unacknowledged Appointments  
Clearing Appointments  
Date Arithmetic (CALC)  
Determining the Day of the Week for Any Date  
Calculating the Number of Days between Dates  
Calculating Past or Future Dates  
12  
153  
153  
156  
157  
158  
161  
161  
162  
162  
162  
163  
164  
164  
The Equation Solver  
Solver Example : Sales Forecasts  
The SOLVE Menu  
Entering Equations  
Calculating Using Solver Menus (CALC)  
Editing an Equation (EDIT)  
Naming an Equation  
Finding an Equation in the Solver List  
Shared Variables  
Clearing Variables  
Deleting Variables and Equations  
Deleting One Equation or Its Variables (DELET)  
Deleting All Equations or All Variables in the Solver  
(
)
@c  
164  
166  
168  
174  
176  
177  
178  
Writing Equations  
What Can Appear in an Equation  
Solver Functions  
Conditional Expressions with IF  
The Summation Function ()  
Accessing CFLO and SUM Lists from the Solver  
Creating Menus for Multiple Equations  
(S Function)  
8
Contents  
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179  
180  
181  
How the Solver Works  
Halting and Restarting the Numerical Search  
Entering Guesses  
13  
14  
184  
185  
185  
185  
186  
186  
188  
188  
189  
Printing  
The Printer’s Power Source  
Double-Space Printing  
Printing the Display(  
Printing Other Information (  
Printing Variables, Lists, and Appointments (LIST)  
Printing Descriptive Messages (MSG)  
Trace Printing (TRACE)  
)
P
)
@p  
How to Interrupt the Printer  
190  
190  
190  
191  
193  
195  
197  
199  
200  
200  
202  
206  
208  
209  
213  
215  
216  
217  
217  
219  
Additional Examples  
Loans  
Simple Annual Interest  
Yield of a Discounted (or Premium) Mortgage  
Annual Percentage Rate for a Loan with Fees  
Loan with an Odd (Partial) First Period  
Canadian Mortgages  
Advance Payments (Leasing)  
Savings  
Value of a Fund with Regular Withdrawals  
Deposits Needed for a Child’s College Account  
Value of a Tax-Free Account  
Value of a Taxable Retirement Account  
Modified Internal Rate of Return  
Price of an Insurance Policy  
Bonds  
Discounted Notes  
Statistics  
Moving Average  
Chi-Squared (χ2) Statistics  
Contents  
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A
222  
222  
222  
224  
224  
225  
227  
228  
229  
230  
230  
230  
232  
233  
235  
237  
237  
Assistance, Batteries, Memory, and Service  
Obtaining Help in Operating the Calculator  
Answers to Common Questions  
Power and Batteries  
Low-Power Indications  
Installing Batteries  
Managing Calculator Memory  
Resetting the Calculator  
Erasing Continuous Memory  
Clock Accuracy  
Environmental Limits  
Determining If the Calculator Requires Service  
Confirming Calculator Operation: Self-Test  
Warranty  
Service  
Regulatory information  
Noise Declaration  
B
238  
238  
238  
239  
239  
240  
240  
242  
246  
246  
247  
247  
247  
248  
More About Calculations  
IRR% Calculations  
Possible Outcomes of Calculating IRR%  
Halting and Restarting the IRR% Calculation  
Storing a Guess for IRR%  
Solver Calculations  
Direct Solutions  
Iterative Solutions  
Equations Used by Built-in Menus  
Actuarial Functions  
Percentage Calculations in Business (BUS)  
Time Value of Money (TVM)  
Amortization  
Interest Rate Conversions  
10  
Contents  
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248  
215  
250  
251  
251  
252  
252  
253  
253  
253  
Cash-Flow Calculations  
Bond Calculations  
Depreciation Calculations  
Sum and Statistics  
Forecasting  
Equations Used in (Chapter 14)  
Canadian Mortgages  
Odd-Period Calculations  
Advance Payments  
Modified Internal Rate of Return  
C
D
254  
Menu Maps  
261  
261  
261  
262  
263  
264  
264  
264  
266  
RPN: Summary  
About RPN  
About RPN on the hp 17bII+  
Setting RPN Mode  
Where the RPN Functions Are  
Doing Calculations in RPN  
Arithmetic Topics Affected by RPN Mode  
Simple Arithmetic  
Calculations with STO and RCL  
266  
Chain CalculationsNo Parentheses!  
E
268  
268  
269  
269  
RPN: The Stack  
What the Stack Is  
Reviewing the Stack (Roll Down)  
Exchanging the X- and Y-Registers in the Stack  
270  
ArithmeticHow the Stack Does It  
271  
272  
273  
273  
How ENTER Works  
Clearing Numbers  
The LAST X Register  
Retrieving Numbers from LAST X  
Contents  
11  
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273  
274  
275  
Reusing Numbers  
Chain Calculations  
Exercises  
F
276  
283  
289  
RPN: Selected Examples  
Error Messages  
Index  
12  
Contents  
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List of Examples  
The following list groups the examples by category.  
Getting Started  
25  
29  
Using Menus  
Using the Solver  
Arithmetic  
40  
178  
190  
Calculating Simple Interest  
Unit Conversions  
Simple Interest at an Annual Rate  
(RPN example on page 276)  
General Business Calculations  
Percent Change  
Percent of Total  
50  
51  
52  
52  
53  
159  
Markup as a Percent of Cost  
Markup as a Percent of Price  
Using Shared Variables  
Return on Equity  
Currency Exchange Calculations  
Calculating an Exchange Rate  
Storing an Exchange Rate  
57  
58  
59  
Converting between Hong Kong and U.S Dollars  
Time Value of Money  
A Car Loan  
A Home Mortgage  
A Mortgage with a Balloon Payment  
A Savings Account  
67  
68  
69  
71  
List of Examples  
13  
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72  
74  
75  
An Individual Retirement Account  
Calculating a Lease Payment  
Present Value of a Lease with Advanced Payments  
and Option to Buy  
80  
Displaying an Amortization Schedule for a Home  
Mortgage  
82  
172  
191  
193  
Printing an Amortization Schedule  
Calculations for a Loan with an Odd First Period  
Discounted Mortgage  
APR for a Loan with Fees  
(RPN example on page 276)  
Loan from the Lender’s Point of View  
(RPN example on page 277)  
194  
196  
197  
198  
200  
200  
202  
207  
208  
Loan with an Odd First Period  
Loan with an Odd First Period Plus Balloon  
Canadian Mortgage  
Leasing with Advance Payments  
A Fund with Regular Withdrawals  
Savings for College (RPN example on page 278)  
Tax-Free Account (RPN example on page 280)  
Taxable Retirement Account  
(RPN example on page 282)  
214  
Insurance Policy  
Interest Rate Conversions  
Converting from a Nominal to an Effective Interest  
Rate  
86  
89  
Balance of a Savings Account  
Cash Flow Calculations  
97  
102  
104  
105  
210  
Entering Cash Flows  
Calculating IRR and NPV of an Investment  
An Investment with Grouped Cash Flows  
An Investment with Quarterly Returns  
Modified IRR  
14  
List of Examples  
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Bonds and Notes  
111  
112  
113  
215  
217  
Price and Yield of a Bond  
A Bond with a Call Feature  
A Zero-Coupon Bond  
Yield to Maturity and Yield to Call  
Price and Yield of a Discounted Note  
Depreciation  
117  
118  
120  
Declining-Balance Depreciation  
ACRS Deductions  
Partial-Year Depreciation  
Running Total and Statistical Calculations  
Updating a Checkbook  
Mean, Median, and Standard Deviation  
Curve Fitting  
125  
128  
134  
138  
218  
220  
Weighted Mean  
A Moving Average in Manufacturing  
χ2  
Expected Throws of a Die (  
)
Time, Alarms, and Date Arithmetic  
Setting the Date and Time  
Clearing and Setting an Appointment  
Calculating the Number of Days between Two Dates  
Determining a Future Date  
144  
148  
151  
152  
How to Use the Equation Solver  
Return on Equity  
Sales Forecasts  
Using a Solver Function (USPV)  
Nested IF Functions  
Using Guesses to Find a Solution Iteratively  
159  
166  
172  
175  
181  
Printing  
189  
Trace-Printing an Arithmetic Calculation  
List of Examples  
15  
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Important Information  
Take the time to read chapter 1. It gives you an overview of how the  
calculator works, and introduces terms and concepts that are used  
throughout the manual. After reading chapter 1, you’ll be ready to  
start using all of the calculator’s features.  
You can choose either ALG (Algebraic) or RPN (Reverse Polish  
Notation) mode for your calculations. Throughout the manual, the  
“in the margin indicates that the examples or keystrokes must be  
pverformed differently in RPN. Appendixes D, E, and F explain how to  
use your calculator in RPN mode.  
Match the problem you need to solve with the calculator’s capabilities  
and read the related topic. You can locate information about the  
calculator’s features using the table of contents, the subject index, the  
list of examples, and the menu maps in appendix C (the gold-edged  
pages).  
Before doing any time-value-of-money or cash-flow problems, refer to  
pages 64 and 92 to learn how the calculator uses positive and  
negative numbers in financial calculations.  
For a deeper treatment of specific types of calculations, refer to  
chapter 14, Additional Examples.” If you especially like learning by  
example, this is a good reference spot for you.  
16  
Important Information  
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1
Getting Started  
Watch for this symbol in the margin. It identifies examples  
or keystrokes that are shown in ALG mode and must be  
performed differently in RPN mode. Appendixes D, E, and F  
explain how to use your calculator in RPN mode.  
v
The mode affects only arithmetic calculations—all other operations,  
including the Solver, work the same in RPN and ALG modes.  
Power On and Off; Continuous Memory  
To turn on the calculator, press  
the key). To turn it off, press  
(clear) (note ON printed below  
C
and then  
. This shifted function is  
@ C  
called  
(note OFF printed above the key). Since the calculator has  
o
Continuous Memory, turning it off does not affect the information you’ve  
stored there.  
To conserve energy, the calculator turns itself off after 10 minutes of no  
use.  
If you see the low battery symbol (  
) at the top of the display, you  
should replace the batteries as soon as possible. Follow the instructions  
on page 224.  
Adjusting the Display Contrast  
The display’s brightness depends on lighting, your viewing angle, and  
the display contrast setting. To change the display contrast, hold down  
the  
key and press  
or  
+ -  
.
C
1: Getting Started  
17  
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Setting the Language  
The calculator can display information in six different languages. The  
language initially used by the calculator was preset at the factory. To  
change the language:  
1. Press the  
.
@>  
2. Press to display the INTL menu, which stands for  
"international".  
3. Press the appropriate menu key to change the language.  
Table 1-1. Keys for language  
Key  
Description  
   
   
   
   
German  
English  
Spanish  
French  
Italian  
  Portuguese  
What You See in the Display  
Menu Labels. The bottom line of the display shows the menu labels for  
each of the six major menus (work areas) in the calculator. More about  
these later in this chapter.  
The Calculator Line. The calculator line is where you see numbers (or  
letters) that you enter, and the results of calculations.  
Annunciators. The symbols shown here are called annunciators.  
Each one has a special significance.  
18  
1: Getting Started  
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Alarm going off  
(or past due).  
(page 147)  
Shift ( ) is  
active.  
(page 19)  
Sending information  
to the printer.  
(page 184)  
@
Batteries low.  
(page 224)  
Annunciators  
Calculator  
line  
Cursor  
Menu labels for the MAIN menu.  
To display the MAIN menu, press  
(that is, first  
, then  
@A  
).  
@
e
The Shift Key ( )  
@
Some keys have a second, shifted function printed in color above the  
key. The colored shift key accesses these operations. For example,  
pressing and releasing  
, then pressing  
turns the calculator off.  
@
.
C
This is written  
@o  
Pressing  
turns on the shift annunciator (  
). This symbol stays on  
@
until you press the next key. If you ever press  
by mistake, just press  
@
@
again to turn off the  
.
Backspacing and Clearing  
The following keys erase typing mistakes, entire numbers, or even lists or  
sets of data.  
1: Getting Started  
19  
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Table 1-2. Keys for Clearing  
Key  
Description  
Backspace; erases the character before the cursor.  
<
Clear; clears the calculator line. (When the calculator  
is off, this key turns the calculator on, but without  
clearing anything.)  
C
This clears all information in the current work area  
(menu). For example, it will erase all the numbers in  
a list if you are currently viewing a list (SUM or  
@c  
CFLO). In other menus (like TVM),  
clears  
@c  
all of the values that have been stored. In SOLVE, it  
can delete all equations.  
The cursor ( ) is visible while you are keying in a number or doing a  
calculation. When the cursor is visible, pressing  
deletes the last  
<
character you keyed in. When the cursor is not visible, pressing  
erases the last number.  
<
Keys:  
Display:  
Description:  
12345  
.66  
Backspacing removes  
the 4 and 5.  
<<  
  
  
  
Calculates 1/123.66.  
Clears the calculator  
line.  
@t  
<
In addition, there are more drastic clearing operations that erase more  
information at once. Refer to “Resetting the Calculator” on page 228 in  
appendix A.  
20  
1: Getting Started  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Doing Arithmetic  
The “  
for ALG mode.  
” in the margin is a reminder that the example keystrokes are  
v
This is a brief introduction to doing arithmetic. More information on  
arithmetic is in chapter 2. Remember that you can erase errors by  
pressing  
or  
< C  
.
To calculate 21.1 23.8:  
Keys:  
Display:  
Description:  
21.1  
  
+
23.8  
  
  
completes calculation.  
=
=
Once a calculation has been completed, pressing another digit key  
starts a new calculation. On the other hand, pressing an operator key  
continues the calculation:  
77.35  
90.89  
65  
  
  
Calculates 77.35 – 90.89  
-
=
12   
New calculation:  
65 x 12.  
@v*  
  
=
3.5  
/ =  
  
Calculates 96.75 ÷ 3.5.  
You can also do long calculations without pressing  
after each  
=
intermediate calculationjust press it at the end. The operators perform  
from left to right, in the order you enter them. Compare:  
65 + 12  
3.5  
12  
3.5  
and  
65 +  
65  
12  
+ /  
Operations occur in the  
order you see them.  
3.5  
  
=
1: Getting Started  
21  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
65  
12  
+( /  
Use parentheses to impose  
an order of calculation.  
3.5  
  
)=  
Keying in Negative Numbers ( )  
&
The  
key changes the sign of a number.  
&
To key in a negative number, type that number, then press  
.
&
To change the sign of an already displayed number (it must be the  
rightmost number), press  
.
&
Keys:  
Display:  
Description:  
75  
  
Changes the sign of 75.  
&
7.1  
* =  
v
  
Multiplies 75 by 7.1.  
Using the Menu Keys  
The calculator usually displays a set of labels across the bottom of the  
display. The set is called a menu because it presents you with choices.  
The MAIN menu is the starting point for all other menus.  
22  
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(
(
)
)
Menu Labels  
Menu Keys  
The top row of keys is related to the labels along the bottom of the  
display. The labels tell you what the keys do. The six keys are called  
menu keys; the labels are called menu labels.  
The MAIN Menu  
The MAIN menu is a set of primary choices leading to other menu  
options. No matter which menu you currently see, pressing  
@A  
redisplays the MAIN menu. The menu structure is hierarchical.  
1: Getting Started  
23  
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Table 1-3. The MAIN Menu  
Operations Done in  
This Category  
Menu Label  
Covered in:  
TVM: Time value of money:  
Chapter 5  
(Finance)  
loans, savings, leasing,  
amortization.  
ICNV: Interest conversions.  
Chapter 6  
CFLO: Lists of cash flows for Chapter 7  
internal rate of return and  
net present value.  
BOND: Yields and prices  
for bonds.  
Chapter 8  
DEPRC: Depreciation using  
SL, DB, and SOYD methods,  
or ACRS.  
Chapter 9  
Percent of total, percent  
(Business Percentages) change, markup on cost,  
markup on price.  
Chapter 3  
Lists of numbers, running  
total, mean, weighted  
statistics, forecasting,  
summation statistics, and  
more.  
Chapter 10  
(Statistics)  
Clock, calendar,  
Chapter 11  
Chapter 12  
Chapter 4  
(Time Manager)  
appointments, date  
arithmetic.  
Creates customized menus  
from your own equations for  
calculations you do often.  
(Equation Solver)  
Converting any currency to  
(Currency Exchange) its equivalent in another  
currency  
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Choosing Menus and Reading Menu Maps  
Below is a menu map illustrating one possible path through three levels  
of menus: from the MAIN menu to the BUS menu to the MU%C (markup  
as a percent of cost) menu. There are no menus that branch from the  
MU%C menu because the MU%C menu is a final destination—you  
use it to do calculations, rather than to choose another menu.  
MAIN menu  
FIN  
BUS  
SUM  
TIME  
SOLVE  
CURRX  
BUS menu  
MU%C  
PRICE  
%CHG %TOTL  
COST  
MU%P  
M%C  
EXIT  
EXIT  
MU%C menu  
MAIN  
Press to choose the BUS menu. Then press to choose  
the MU%C menu.  
Press  
to return to the previous menu. Pressing  
enough  
e
e
times returns you to the MAIN menu.  
Press to return to the MAIN menu directly.  
@A  
When a menu has more than six labels, the label appears at the  
far right. Use it to switch between sets of menu labels on the same  
“level”.  
Example: Using Menus. Refer to the menu map for MU%C (above)  
along with this example. The example calculates the percent markup on  
cost of a crate of oranges that a grocer buys for $4.10 and sells for  
$4.60.  
Step 1. Decide which menu you want to use. The MU%C (markup as  
a percent of cost) menu is our destination. If it’s not obvious  
to you which menu you need, look up the topic in the subject  
1: Getting Started  
25  
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index and examine the menu maps in appendix C.  
Displaying the MU%C menu:  
Step 2. To display the MAIN menu, press  
. This step lets you  
@A  
start from a known location on the menu map.  
Step 3. Press to display the BUS menu.  
Step 4. Press to display the MU%C menu.  
Using the MU%C menu:  
Step 5. Key in the cost and press to store 4.10 as the COST.  
Step 6. Key in the price and press to store 4.60 as the  
PRICE.  
Step 7. Press to calculate the markup as a percent of cost.  
The answer:  
.
  
Step 8. To leave the MU%C menu, press  
twice (once to get  
e
back to the BUS menu, and again to get to the MAIN menu)  
or (to go directly to the MAIN menu).  
@A  
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Calculations Using Menus  
Using menus to do calculations is easy. You don’t have to remember in  
what order to enter numbers and in what order results come back.  
Instead, the menus guide you, as in the previous example. All the keys  
you need are together in the top row. The menu keys both store numbers  
for the calculations and start the calculations.  
The MU%C menu can calculate M%C, the percent markup on cost,  
given COST and PRICE.  
Keys:  
Display:  
4.60  
Store 4.60  
Store 4.10  
Keys:  
Display:  
4.10  
M%C  
Calculator  
COST PRICE  
Keys:  
Display:  
Memory  
Calculate 12.20  
Then the same menu can calculate PRICE given COST and M%C.  
Keys:  
20  
Display:  
Store 20.00  
Keys:  
Display:  
4.10  
Store 4.10  
COST PRICE  
Calculate 4.92  
M%C  
Calculator  
Keys:  
Display:  
Memory  
Notice that the two calculations use the same three variables; each  
variable can be used both to store and calculate values. These are  
called built-in variables, because they are permanently built into the  
calculator.  
1: Getting Started  
27  
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Many menus in this calculator work like the example above. The rules  
for using variables are:  
To store a value, key in the number and press the menu key.†  
Arithmetic calculations, as well as single values, can be stored.  
To calculate a value, press the menu key without first keying in a  
number. The calculator displays  
being calculated.  
when a value is  
  
To verify a stored value, press  
(recall) followed by the menu  
R
key. For example,  
displays the value stored in COST.  
R
To transfer a value to another menu, do nothing if it is displayed  
(that is, it is in the calculator line). A number in the calculator line  
remains there when you switch menus. To transfer more than one  
value from a menu, use storage registers. See page 45, “Storing and  
Recalling Numbers.”  
Exiting Menus (  
)
e
The  
key is used to leave the current menu and go back to the  
e
previously displayed menu (as shown in the previous example). This is  
true for menus you might pick by accident, too:  
gets you out.  
e
Clearing Values in Menus  
The  
key is a powerful feature to clear all the data in the  
@c  
currently displayed menu, giving you a clean slate for new calculations.  
If the current menu has variables (that is, if the display shows menu  
labels for variables, such as COST, PRICE, and M%C in the MU%C  
menu), pressing  
zero.  
clears the values of those variables to  
@c  
If you have just switched menus and want to store the result already in the  
*
calculator line, then you should press  
before the menu key  
s
To store the same number into two different variables, use sfor the second  
s
variable, e.g. 25   
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If the current menu has a list (SUM, CFLO, or Solver), pressing  
clears the values in the list.  
@c  
To see what value is currently stored in a variable, press  
menu  
R
label.  
Solving Your Own Equations (SOLVE)  
This chapter has introduced some of the built-in menus the calculator  
offers. But if the solution to a problem is not built into hp 17bII+ , you  
can turn to the most versatile feature of all: the Equation Solver. Here  
you define your own solution in terms of an equation. The Solver then  
creates a menu to go with your equation, which you can use over and  
over again, just like the other menus in the calculator.  
The Solver is covered in chapter 12, but here is an introductory example.  
Because equations usually use letters of the alphabet, this section also  
explains how to type and edit letters and other characters that aren’t on  
the keyboard.  
Example:Using the Solver. Suppose you frequently buy carpet and  
must calculate how much it will cost. The price is quoted to you per  
square yard. Regardless of how you do the calculation (even if you do it  
longhand), you are using an equation.  
Price per  
square yard  
Length (feet)  
Width (feet)  
P/YD × L × W  
= COST  
9
Converts square feet to square yards  
To type this equation into the Solver, use the ALPHA menu.  
1: Getting Started  
29  
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Typing Words and Characters: the ALPHAbetic Menu  
The ALPHAbetic menu is automatically displayed when you need it to  
type letters and characters. The ALPHA menu also includes characters  
not found on the keyboard:  
Uppercase letters.  
Space.  
Punctuation and special characters.  
Non-English letters.  
Alpha  
menu  
ABCDE  
FGHI  
I
JKLM  
NOPQ  
RSTUV  
U
WXYZ  
OTHER  
Letters,  
space  
space  
OTHER  
R
S
T
V
H
#
G
>
F
OTHER  
characters  
: <  
$
,
.
/
! @  
&
*
To type a letter you need to press two keys; for example, is produced  
by the keystrokes   .  
Each letter menu has an key for accessing punctuation and  
non-English characters. The letter menus with just four letters (for  
example, FGHI) include a space character (  
).  
To familiarize yourself with the ALPHA menu, type in the equation for the  
cost of carpeting. The necessary keystrokes are shown below. (Note the  
access to the special character, “/”.) Use  
, if necessary, to make  
<
corrections. If you need to do further editing, refer to the next section,  
“Editing ALPHAbetic Text.” When you’re satisfied that the equation is  
correct, press  
to enter the equation into memory.  
I
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Keys  
Characters  
@A  
   
   
     
     
  
  
   
*
*
  
   
/9=  
  
  
  
  
     
     
I
Note that the is just a character, part of the variable’s name. It is not  
an operator, which ÷ is.  
Editing ALPHAbetic Text  
The companion to the ALPHA menu is the ALPHA-Edit menu. To display  
the ALPHA-Edit menu, press in the SOLVE menu (or press  
e
in the ALPHA menu).  
EXIT  
EXIT  
DEL  
ALPHA  
ABCDE  
FGHI  
JKLM  
NOPQ RSTUV WXYZ  
1: Getting Started  
31  
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Table 1-4. Alphabetic Editing  
Operation  
Label or Key to Press  
ALPHA-Edit Menu  
Inserts character before the cursor.  
Deletes character at the cursor.  
Any character.  
Moves the cursor far left, one  
display-width.  
Moves the cursor left.  
Moves the cursor right.  
Moves the cursor far right, one  
display-width.  
Displays the ALPHA menu again.  
Keyboard  
Backspaces and erases the character  
before the cursor.  
<
Clears the calculator line.  
C
Calculating the Answer (CALC)  
After an equation is input, pressing verifies it and creates a new,  
customized menu to go with the equation.  
Menu labels for your variables  
Each of the variables you typed into the equation now appears as a  
menu label. You can store and calculate values in this menu the same  
way you do in other menus.  
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Calculate the cost of carpet needed to cover a 9’ by 12’ room. The  
carpet costs $22.50 per square yard.  
Starting from the MAIN menu (press  
):  
@A  
Keys:  
Display:  
Description:  
 Displays the SOLVE menu  
and the current  
equation.*  
Displays the customized  
menu for carpeting.  
Stores the price per  
  
22.5  
  
square yard in P/YD.  
Stores the length in L.  
Stores the width in W.  
Calculates the cost to  
cover a 9’ x 12’ room.  
12   
9   
  
  
  
Now determine the most expensive carpet you can buy if the maximum  
amount you can pay is $300. Notice that all you need to do is enter the  
one value you are changing—there is no need to re-enter the other  
values.  
300   
  
  
  
Stores $300 in COST.  
Calculates the maximum  
price per square yard you  
can pay.  
Exits Solver.  
ee  
If you entered this equation but don’t see it now, press  
or until you do.  
[ ]  
*
1: Getting Started  
33  
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Controlling the Display Format  
The DSP menu (press  
) gives you options for formatting numbers.  
D
You can pick the number of decimal places to be displayed, and  
whether to use a comma or a period to “punctuate” your numbers.  
Decimal Places  
To change the number of displayed decimal places, first press the  
D
key. Then either:  
Press , type the number of decimal places you want (from 0 to  
11), and press  
; or  
I
Press to see a number as precisely as possible at any time  
(12 digits maximum).  
Internal Precision  
Changing the number of displayed decimal places affects what you see,  
but does not affect the internal representation of numbers. The number  
inside the calculator always has 12 digits.  
...but these digits are  
also present internally.  
You see only these  
digits in 2...  
Temporarily SHOWing ALL  
To temporarily see a number with full precision, press  
.This  
@S  
.
shows you the ALL format for as long as you hold down  
S
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Rounding a Number  
The  
function rounds the number in the calculator line to the  
@r  
number of displayed decimal places. Subsequent calculations use the  
rounded value.  
Starting with two displayed decimal places:  
Keys:  
Display:  
Description:  
5.787  
  
Four decimal places are  
displayed.  
D
4
  
  
I
All significant digits;  
trailing zeros dropped.  
Two decimal places are  
displayed.  
D
D
2
  
I
   Temporarily shows full  
@S  
(hold)  
  
precision.  
Rounds the number to two  
decimal places.  
@r  
  
@S(hold)  
Exchanging Periods and Commas in Numbers  
To exchange the periods and commas used for the decimal point and  
digit separators in a number:  
1. Press  
to access the DSP (display) menu.  
D
2. Specify the decimal point by pressing or . Pressing  
sets a period as the decimal point and comma as the digit  
separator (U.S. mode). (For example, 1,000,000.00.) Pressing  
sets a comma as the decimal point and period as the digit  
separator (non-U.S. mode). (For example, 1.000.000,00.)  
1: Getting Started  
35  
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Error Messages  
Sometimes the calculator cannot do what you “ask”, such as when you  
press the wrong key or forget a number for a calculation. To help you  
correct the situation, the calculator beeps and displays a message.  
Press  
or  
to clear the error message.  
C <  
Press any other key to clear the message and perform that key’s  
function.  
For more explanations, refer to the list of error messages just before the  
subject index.  
Modes  
Beeper. Beeping occurs when a wrong key is pressed, when an error  
occurs, and during alarms for appointments. You can suppress and  
reactivate the beeper in the MODES menu as follows:  
1. Press  
.
@>  
2. Pressing will simultaneously change and display the cur-  
rent setting for the beeper:  
beeps for errors and appointments.  
   
     
silences the beeper completely.  
beeps only for appointments.  
   
when done.  
3. Press  
e
Print. Press  
to specify whether or not the printer ac  
@>  
adapter is in use. Then press  
.
e
Double Space. Press  
to turn double-spaced printing  
@>  
.
on or off. Then press  
e
Algebraic. Press  
to select algebraic entry logic.  
@>  
RPN. Press  
to select Reverse Polish Notation entry  
@>  
logic.  
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Language. Press  
to change the language.  
@>  
Calculator Memory (  
)
@M  
The calculator stores many different types of information in its memory.  
Each piece of information requires a certain amount of storage space.*  
You can monitor the amount of available memory by pressing  
.
@M  
Number of bytes of  
memory still free  
Percentage of total  
memory still free  
The amount of memory available for storing information and working  
problems is about 30,740 bytes. (Units of memory space are called  
bytes.) The calculator gives you complete flexibility in how you use that  
available memory (such as for lists of numbers or equations). Use as  
much of the memory as you want for any task you want.  
If you use nearly all of the calculator’s memory, you’ll encounter the  
message  
. To remedy this situation, you  
   
must erase some previously stored information. Refer to “Managing  
Calculator Memory” on page 227 in appendix A.  
The calculator also allows you to erase at once all the information stored  
inside it. This procedure is covered in “Erasing Continuous Memory” on  
page 229.  
Storing numbers in menus like TVM (non-Solver menus) does not use any of  
your memory space.  
*
1: Getting Started  
37  
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2
Arithmetic  
If you prefer RPN to algebraic logic, please read appendix D before  
you read this chapter. The “ “ in the margin is a reminder that the  
v
example keystrokes are for ALG mode.  
The Calculator Line  
The calculator line is the part of the display where numbers appear and  
calculations take place. Sometimes this line includes labels for results,  
such as  
. Even in this case you can use the number  
  
for a calculation. For example, pressing  
2
would calculate  
+ =  
v
124.60 plus 2, and the calculator would display the answer, 126.60.  
There is always a number in the calculator line, even though some-  
times the calculator line is hidden by a message (such as  
  
). To see the number in the calculator line, press  
,
  
<
which removes the message.  
Doing Calculations  
v
Simple calculating was introduced in chapter 1, page 21. Often longer  
calculations involve more than one operation. These are called chain  
calculations because several operations are “chained” together. To do  
a chain calculation, you don’t need to press  
but only at the very end.  
after each operation,  
=
750 × 12  
For instance, to calculate  
you can type either:  
360  
750  
or  
12  
* =/ =  
360  
750  
12  
* / =  
360  
38  
2: Arithmetic  
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In the second case, the  
result of 750 x 12.  
key acts like the  
key by displaying the  
=
/
Here’s a longer chain calculation.  
456 - 75  
68  
1.9  
×
18.5  
This calculation can be written as: 456 75 ÷ 18.5 x 68 ÷ 1.9.  
Watch what happens in the display as you key it in:  
Keys:  
Display:  
456  
75  
- /  
  
  
18.5  
68  
*
  
  
/
1.9  
=
Using Parentheses in Calculations  
v
Use parentheses when you want to postpone calculating an  
intermediate result until you’ve entered more numbers. For example,  
suppose you want to calculate:  
30  
85-12  
x 9  
If you were to key in 30  
85  
/ -  
, the calculator would calculate the  
intermediate result, 0.35. However, that’s not what you want. To de-  
lay the division until you’ve subtracted 12 from 85, use parentheses:  
Keys:  
Display:  
Description:  
30  
85  
/( -  
  
  
  
No calculation is done.  
Calculates 85 12.  
Calculates 30 / 73.  
Calculates 0.41x 9.  
12  
)
9
*
=
  
2: Arithmetic  
39  
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Note that you must include a  
imply multiplication.  
for multiplication; parentheses do not  
*
The Percent Key  
v
The  
key has two functions:  
%
Finding a Percentage. In most cases,  
divides a number by 100.  
%
The one exception is when a plus or minus sign precedes the number.  
(See “Adding or Subtracting a Percentage,” below.)  
For instance, 25  
results in  
.
  
%
To find 25% of 200, press: 200  
25  
* %=  
. (Result is  
.)  
  
Adding or Subtracting a Percentage. You can do this all in one  
calculation:  
For instance, to decrease 200 by 25%, just enter 200  
25  
- %=  
.
(Result is  
.)  
  
Example: Calculating Simple Interest. You borrow $1,250 from a  
relative, and agree to repay the loan in a year with 7% simple interest.  
How much money will you owe?  
Keys:  
Display:  
Description:  
1250  
7
+ %  
  
Interest on the loan is  
$87.50.  
  
You must repay this  
amount at the end of one  
year.  
=
The Mathematical Functions  
Some of the math functions appear on the keyboard; others are in the  
MATH menu. Math functions act on the last number in the display.  
40  
2: Arithmetic  
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Table 2-1. Shifted Math Functions  
Key  
Description  
reciprocal  
square root  
square  
@t  
@v  
@w  
Keys:  
Display:  
Description:  
4
  
Reciprocal of 4.  
@t  
20  
  
Calculates 20 .  
@v  
47.2  
+ *  
  
  
  
Calculates 4.47 + 47.20.  
Calculates 1.12.  
v
1.1  
@w  
v
Completes calculation of  
(4.47 + 47.2) x1.12.  
=
v
The Power Function (Exponentiation)  
v
The power function,  
, raises the preceding number to the power of  
u
the following number.  
Keys:  
Display:  
Description:  
125  
125  
3
@u =  
  
Calculates 1253.  
3
Calculates the cube root of  
125, which is the same as  
@u  
  
@t=  
(125)1/3  
.
2: Arithmetic  
41  
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The MATH Menu  
To display the MATH menu, press  
(the shifted  
key). Like the  
%
@m  
other mathematics functions, these functions operate on only the last  
number in the display.  
Table 2-2. The MATH Menu Labels  
Menu Label  
Description  
Common (base 10) logarithm of a positive number.  
Common (base 10) antilogarithm; calculates 10x.  
Natural (base e) logarithm of a positive number.  
Natural antilogarithm; calculates ex.  
Factorial.  
Inserts the value for π into the display.  
Keys:  
Display:  
Description:  
2.5  
Calculates 102.5.  
@m  
  
  
4   
Calculates the factorial of 4.  
Exits MATH menu.  
e
You can access the MATH menu when another menu is displayed. For  
instance, while using SUM you might want to use a MATH function. Just  
press  
, then perform the calculation. Pressing  
@m  
returns you  
e
to SUM. The MATH result remains in the calculator line. Remember,  
however, that you must exit MATH before you resume using SUM.  
42  
2: Arithmetic  
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Saving and Reusing Numbers  
Sometimes you might want to include the result of a previous calculation  
in a new calculation. There are several ways to reuse numbers.  
The History Stack of Numbers  
When you start a new operation, the previous result moves out of the  
display but is still accessible. Up to four lines of numbers are saved: one  
in the display and three hidden. These lines make up the history stack.  
"Invisible"  
numbers  
remaining from  
previous results.  
The  
,
, and  
keys “roll” the history stack down or up one line,  
][ @~  
bringing the hidden results back into the display. If you hold down  
or , the history stack wraps around on itself. However, you  
[ ]  
cannot roll the history stack when an incomplete calculation is in the  
display. Also, you cannot gain access to the stack while using lists  
(SUM, CFLO) in ALG mode, or SOLVE in either ALG or RPN mode. All  
numbers in the history stack are retained when you switch menus.  
Pressing  
display.  
exchanges the contents of the bottom two lines of the  
@x  
2: Arithmetic  
43  
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Pressing  
active, because then  
menu.  
clears the history stack. Be careful if a menu is  
@c  
also erases the data associated with that  
c
Keys:  
Display:  
Description:  
v
75.55  
32.63   
-
  
=
150  
7
/ =  
42.92 moves out of  
display.  
  
Now, suppose you want to multiply 42.92 x 11. Using the history stack  
saves you time.  
  
Moves 42.92 back to  
calculator line.  
]
11  
* =  
  
Reusing the Last Result (  
)
@L  
v
The  
key copies the last result—that is, the number just above  
@L  
the calculator line in the history stack—into a current calculation.  
This lets you reuse a number without retyping it and also lets you break  
up a complicated calculation.  
39 + 8  
123 + 17  
Keys:  
Display:  
Description:  
123  
17  
+ =  
  
Calculates 123 + 17.  
Calculates 140 .  
@v  
  
39  
8
+ =/  
Copies 11.83 to the  
calculator line.  
  
  
@L  
=
Completes the calculation.  
44  
2: Arithmetic  
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An equivalent keystroke sequence for this problem would be:  
39 123 17  
8
+ /( + )@v=  
Storing and Recalling Numbers  
The  
key copies a number from the calculator line into a  
s
designated storage area, called a storage register. There are ten  
storage registers in calculator memory, numbered 0 through 9. The  
key recalls stored numbers back to the calculator line.  
R
lf there is more than one number on the calculator line,  
the last number in the display.  
stores only  
s
v
To store or recall a number:  
1. Press  
or  
s R  
. (To cancel this step, press  
.)  
<
2. Key in the register number.  
The following example uses two storage registers to do two calculations  
that use some of the same numbers.  
475.6  
39.15  
560.1 + 475.6  
             
39.15  
Keys:  
Display:  
Description:  
v
475.6  
  
Stores 475.6 into register  
1.  
s1  
39.15  
/ s  
Stores 39.15 (rightmost  
number) into register 2.  
Completes calculation.  
Recalls contents of register  
1.  
2
  
  
=
560.1  
+R  
1
  
  
  
2
Recalls register 2.  
Completes calculation.  
/R  
=
2: Arithmetic  
45  
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The  
and  
keys can also be used with variables. For example,  
s R  
(in the MU%C menu) stores the rightmost number from the  
s
display into the variable M%C.  
copies the contents of  
R
M%C into the calculator line. If there is an expression in the display  
(such as ), then the recalled number replaces only the last  
  
v
number.  
You do not need to clear storage registers before using them. By storing  
a number into a register, you overwrite whatever existed there before.  
Doing Arithmetic Inside Registers and Variables  
You can also do arithmetic inside storage registers.  
Keys:  
Display:  
Description:  
45.7  
Stores 45.7 in reg. 3.  
s3  
  
  
2.5  
3
Multiplies contents of  
register 3 by 2.5 and stores  
result (114.25) back in  
register 3.  
s*  
Displays register 3.  
R3  
  
Table 2-3. Arithmetic in Registers  
New Register Contents  
Keys  
old register contents + displayed number  
old register contents – displayed number  
old register contents x displayed number  
old register contents ÷ displayed number  
old register contents ^ displayed number  
s+  
s-  
s*  
s/  
s@u  
46  
2: Arithmetic  
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You can also do arithmetic with the values stored in variables. For  
(in the MU%C menu) multiplies the current  
example, 2 s*  
contents of M%C by 2 and stores the product in M%C.  
Scientific Notation  
Scientific notation is useful when working with very large or very small  
numbers. Scientific notation shows a small number (less than 10) times  
10 raised to a power. For example, the 1984 Gross National Product of  
the United States was $3,662,800,000,000. In scientific notation, this is  
3.6628 x1012. For very small numbers the decimal point is moved to the  
right and 10 is raised to a negative power. For example, 0.00000752  
can be written as 7.52 x 106.  
When a calculation produces a result with more than 12 digits, the  
number is automatically displayed in scientific notation, using a capital  
E in place of “x10^”.  
Remember that  
the exponent. Use  
changes the sign of the entire number, and not of  
to make a negative exponent.  
&
-
Type in the numbers 4.78 x 1013 and 2.36 x 10−  
.
15  
Keys:  
Display:  
Description:  
4.78  
13  
Pressing  
starts the  
@\  
  
@\  
exponent.  
Clears number.  
  
@c  
2.36  
Pressing  
before an  
-
@\-  
15  
exponent makes it  
negative.  
  
Pressing  
makes the  
&
  
&
entire number negative.  
Clears number.  
@c  
2: Arithmetic  
47  
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Range of Numbers  
The largest positive and negative numbers available on the calculator  
are 9.99999999999 x 10 499; the smallest positive and negative  
numbers available are 1 x 10 –499  
.
48  
2: Arithmetic  
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3
Percentage Calculations  
in Business  
The business percentages (BUS) menu is used to solve four types of  
problems. Each type of problem has its own menu.  
FIN  
BUS  
SUM  
TIME SOLVE CURRX  
%CHG %TOTL MU%C MU%P  
Table 3-1. The Business Percentages (BUS) Menus  
Menu  
Description  
Percent change  
( )  
The difference between two numbers (OLD and  
NEW), expressed as a percentage (%CH) of  
OLD.  
Percent of total  
The portion that one number (PART) is of another  
( )  
(TOTAL), expressed as a percentage (%T).  
Markup on cost  
( )  
The difference between price (PRICE) and cost  
(COST), expressed as a percentage of the cost  
(M%C).  
Markup on price  
( )  
The difference between price (PRICE) and cost  
(COST), expressed as a percentage of the price  
(M%P).  
3: Percentage Calculations in Business  
49  
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The calculator retains the values of the BUS variables until you clear  
them by pressing  
. For example, pressing  
@c  
while in  
@c  
the %CHG menu clears OLD, NEW, and %CH.  
To see what value is currently stored in a variable, press  
menu  
R
label. This shows you the value without recalculating it.  
Using the BUS Menus  
Each of the four BUS menus has three variables. You can calculate any  
one of the three variables if you know the other two.  
1. To display the %CHG, %TOTL, MU%C, or MU%P menu from the  
MAIN menu, press then the appropriate menu label. Pressing  
,
for example, displays:  
,
2. Store each value you know by keying in the number and pressing the  
appropriate menu key.  
3. Press the menu key for the value you want to calculate.  
Examples Using the BUS Menus  
Percent Change (%CHG)  
Example. Total sales last year were $90,000. This year, sales were  
$95,000. What is the percent change between last year’s sales and this  
year’s?  
Keys:  
Display:  
Description:  
   
Displays %CHG menu.  
50  
3: Percentage Calculations in Business  
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90000   
95000   
Stores 90,000 in OLD.  
Stores 95,000 in NEW.  
Calculates percent  
change.  
  
  
  
What would this year’s sales have to be to show a 12% increase from  
last year? OLD remains 90,000, so you don’t have to key it in again.  
Just enter %CH and ask for NEW.  
12   
  
  
Stores 12 in %CH.  
Calculates the value 12%  
greater than 90,000.  
Percent of Total (%TOTL)  
Example. Total assets for your company are $67,584, The firm has  
inventories of $23,457. What percentage of total assets is inventory?  
You will be supplying values for TOTAL and PART and calculating %T.  
This takes care of all three variables, so there is no need to use  
c
to remove old data.  
Keys:  
Display:  
Description:  
   
67584   
23457   
Displays %TOTL menu.  
 Stores $67,584 in TOTAL.  
  
Stores $23,457 in PART.  
Calculates percent of  
total.  
  
3: Percentage Calculations in Business  
51  
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Markup as a Percent of Cost (MU%C)  
Example. The standard markup on costume jewelry at Balkis’s Boutique  
is 60%. The boutique just received a shipment of chokers costing  
$19.00 each. What is the retail price per choker?  
Keys:  
Display:  
Description:  
   
19   
60   
Displays MU%C menu.  
Stores cost in COST.  
Stores 60% in M%C.  
Calculates price.  
  
  
  
Markup as a Percent of Price (MU%P)  
Example. Kilowatt Electronics purchases televisions for $225, with a  
discount of 4%. The televisions are sold for $300. What is the markup  
of the net cost as a percent of the selling price?  
What is the markup as percent of price without the 4% discount?  
Keys:  
Display:  
Description:  
   
Displays MU%P menu.  
Calculates and stores net  
cost in COST.  
225  
4
- %  
v
  
  
  
300   
.
Stores 300 in PRICE.  
Calculates markup as a  
percent of price.  
Use $225 for COST and leave PRICE alone.  
225   
  
Stores 225 in COST.  
.
  
Calculates markup.  
52  
3: Percentage Calculations in Business  
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Sharing Variables Between Menus  
If you compare the MU%C menu and the MU%P menus, you’ll see that  
they have two menu labels in common — and   
.
%CHG  
%TOTL  
MU%C  
PRICE  
MU%P  
COST  
M%C  
COST  
Shared variables  
PRICE  
M%P  
The calculator keeps track of the values you key in according to those  
labels. For example, if you key in COST and PRICE in the MU%C menu,  
exit to the BUS menu, and then display the MU%P menu, the calculator  
retains those values. In other words, the variables are shared between  
the two menus.  
Example: Using Shared Variables. A food cooperative buys cases of  
canned soup with an invoice cost of $9.60 per case. If the co-op  
routinely uses a 15% markup on cost, for what price should it sell a case  
of soup?  
Keys:  
Display:  
Description:  
   
9.6   
15   
Displays MU%C menu.  
Stores 9.60 in COST.  
Stores 15% in M%C.  
Calculates retail price.  
  
  
  
What is the markup on price? Switch menus but keep the same COST  
and PRICE.  
Exits MU%C menu and  
displays MU%P menu.  
Calculates markup as a  
percent of price.  
e
.
  
3: Percentage Calculations in Business  
53  
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4
Currency Exchange  
Calculations  
The CURRX menu does currency exchange calculations between two  
currencies using an exchange rate that you calculate or store.  
The CURRX Menu  
FIN  
BUS  
SOLVE  
CURRX  
SUM  
TIME  
US$  
EUR  
RATE C.STO C.RCL SELCT  
To display the currency exchange menu from the MAIN menu, press  
.  
Currency #1 is US$ Currency #2 is EUR  
(U.S Dollar)  
(EURO Dollar)  
54  
4: Currency Exchange Calculation  
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Table 4-1. The CURRX Menu  
Description  
Menu Key  
curr1  
Current currency#1;stores or calculates the number of units  
of this currency.  
curr2  
Currency currency#2;stores or calculates the number of  
units of this currency.  
   
Stores or calculates the exchange rate between the two  
current currencies. The rate is expressed as the number of  
units of currency #2 equivalent to 1 unit of currency #1.  
Stores the current currency #1, currency #2, and RATE.  
Recalls a previously stored pair of currencies and RATE.  
Selects a new set of currencies.  
Selecting a Set of Currencies  
To select a pair of currencies:  
1. Press to display the menu of currencies. Press more, if  
necessary, to see additional currencies ( see table 4-2 ).  
2. Press a menu key to select currency #1.  
3. Press a menu key to select currency #2. RATE is automatically reset to  
1.0000.  
4. Enter an exchange rate. There are two ways enter the RATE :  
Calculate the rate from  
a
known equivalency (see the  
example ”Calculating an Exchange Rate,” page 57.). Calculating an  
exchange rate is usually the easier way to enter a correct rate, since  
the order in which you selected the two currencies doesn’t mater.  
Store the exchange rate by keying in the value and pressing   
(see “Storing an Exchange Rate” on page 58).  
4: Currency Exchange Calculation  
55  
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Table 4-2. Currencies  
  
   
United Kingdom  
(Pounds)  
United States  
of America  
(Dollars)  
Austria,  
Greece,  
Ireland, Italy,  
Canada  
(Dollars)  
Belgium,  
Germany, Luxembourg,  
Spain,  
Finland,  
France,  
Netherlands,  
Portugal,  
Vatican City  
(EURO)  
   
   
Switzerland  
(Francs)  
Israeli  
(New Shekel)  
Denmark  
(Kroner)  
Norway  
(Kroner)  
Sweden  
(Kronor)  
   
Russia  
Argentina  
Vanuatu  
Brazil  
Peru  
(Rouble)  
(Bolivar)  
South Africa  
(Band)  
Saudi Arabia  
(Riyals)  
  
   
Bolivia Chile, Hong Kong  
Colombia,  
Mexico,  
Taiwan  
(New Dollars)  
China  
(Yuan  
Renminbi)  
South Korea  
(Won)  
(Dollars)  
Philippines,  
Uruguay  
(Pesos)  
    
     
Japan  
(Yen)  
Australia  
(Dollars)  
Malaysia  
(Ringgits)  
New Zealand  
(Dollars)  
Indonesia  
(Rupiahs)  
  
   
Singapore  
(Dollars)  
Thailand  
(Baht)  
India  
(Rupee)  
Pakistani  
(Rupees)  
Miscellaneous*  
Use for currencies not shown in table  
*
56  
4: Currency Exchange Calculation  
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Entering a Rate  
The following two examples illustrate the two ways to enter an exchange  
rate.  
Example: Calculating an Exchange Rate. You have just flown from  
Canada to United States, and you need to exchange your Canadian  
Dollars for U.S Dollars. The conversion chart looks this :  
United States Conversion Chart (in US$)  
Currency  
Rate  
Euro (EUR€)  
Canadian (CAN$)  
Hong Kong (HK$)  
1.0842  
.6584  
.1282  
The chart states these equivalencies:  
*
1 EUR€  
1 CAN$  
1 HK$  
is equivalent to 1.0842  
is equivalent to 0.6584  
is equivalent to 0.1282  
US$  
US$  
US$  
Part 1: Select the currencies, and calculate an exchange rate form them.  
Keys:  
Display:  
Description:  
    
Display the CURRX menu  
   
   Select CAN$ as currency  
#1  
    
  
Select US$ as currency #2  
1   
Store number of CAN$  
The chart is in terms of United States dollars. Many charts have two columns–a  
“Buy” column and a “Sell” column. The “Buy” column is used for transactions  
in which the “Bank” buys the listed currency from you in exchange for United  
States dollars. Thus, if you arrive in United States with CAN$, the exchange  
rate in the “Buy” column applies for buying US$ with your CAN$. The “Sell”  
column applies for selling US$ in exchange for CAN$.  
*
4: Currency Exchange Calculation  
57  
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0.6584   
  
Stores equivalent number  
of US$  
  
Calculates the RATE.  
Part 2: The following keystrokes show that you can reverse the order in  
which the two currencies are selected.  
Keys:  
Display:  
Description:  
   
   Select US$ as currency #1  
    
Select CAN$ as currency  
#2  
1   
  
  
Store number of CAN$  
Stores equivalent number  
of US$  
0.6584   
  
Calculates the RATE.  
(1 ÷ 0.6584 )  
Example : Storing an Exchange Rate. If you choose to store the  
exchange rate directly, you must select the currencies in the correct order,  
since the RATE is defined as the number of units of currency #2  
equivalent to one unit of currency#1  
Use the United States conversion chart on page 57 to store an exchange  
rate for converting between Hong Kong Dollars and U.S. Dollars.  
Keys:  
Display:  
Description:  
    
Display the CURRX menu  
Select HK$ as currency  
#1  
  
   
    
    
  
Select US$ as currency #2  
0.1282   
Store the RATE  
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4: Currency Exchange Calculation  
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Converting Between Two Currencies  
Once the currencies are selected and a RATE has been entered, you can  
convert any number of units of one currency to the other.  
Example : Converting between Hong Kong and U.S Dollars.  
Part 1: Use the exchange rate stored in the previous example to  
calculate how many U.S dollars you would receive for 3,000 Hong  
Kong Dollars.  
Keys:  
Display:  
Description:  
3000   
  
  
Store number of HK$  
Calculates equivalent US$  
Part 2: A wool sweater in a shop window costs 75 US$. What is its cost  
in HK$ Dollars?  
Keys:  
Display:  
Description:  
75   
  
Store number of US$  
  
Calculates equivalent HK$  
Storing and Recalling Sets of Currencies  
Pressing or displays the C.STO/C.RCL menu, which is  
used to store and recall sets of currencies and the rates. The menu can  
store up to six sets of currencies. Initially, the menu contains six blank  
labels.  
Storing Sets of Currencies. To store the current set of currencies and the  
rate, press. Then, press any menu key to assign the set to that  
key. For example, storing the currencies in the previous example stores  
currency #1 = HK$, currency #2 = US$, and RATE = 0.1282. ( The  
values US$ = 75 and HK$ = 585.02 are not stored.)  
4: Currency Exchange Calculation  
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Recalling Sets of Currencies. To recall a stored set of currencies and  
their exchange rate, press , followed by the appropriate menu  
key. The hp 17bII+ automatically returns to the CURRX menu. The  
equivalency message and menu labels show the recalled currencies and  
RATE.  
Clearing the Currency Variables  
Pressing  
while the CURRX menu is displayed sets the RATE to  
@c  
1.0000. The values of the two current currencies are cleared to 0.  
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5
Time Value of Money  
The phrase time value of money describes calculations based on money  
earning interest over a period of time. The TVM menu performs  
compound-interest calculations and calculates (and prints) amortization  
schedules.  
In compound interest calculations, interest is added to the principal at  
specified compounding periods, thereby also earning interest.  
Savings accounts, mortgages, and leases are compound-interest  
calculations.  
In simple interest calculations, the interest is a percent of the principal  
and is repaid in one lump sum. Simple interest calculations can be  
done using the  
key (page 40). For an example that calculates  
%
simple interest using an annual interest rate, see page 190.  
The TVM Menu  
FIN  
BUS  
SUM  
TIME SOLVE  
CURRX  
TVM  
PV  
ICNV CFLO  
BOND DEPRC  
OTHER  
PMT  
FV  
N
I%YR  
BEG  
P/YR  
AMRT  
END  
5: Time Value of Money  
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The time value of money (TVM) menu does many compound-interest  
calculations. Specifically, you can use the TVM menu for a series of cash  
flows (money received or money paid) when:  
The dollar amount is the same for each payment.*  
The payments occur at regular intervals.  
The payment periods coincide with the compounding periods.  
12 payments (or periods)  
per year  
Payment mode: the  
end of each period  
To second level of TVM  
Figure 5-1. The First Level of TVM  
The first level of the TVM menu has five menu labels for variables plus  
. The key accesses a second-level menu used to specify  
payment conditions (the payment mode) and to call up the AMRT  
(amortization) menu.  
Figure 5-2. The Second Level of TVM  
For situations where the amount of the payment varies, use the CFLO (cash  
flows) menu.  
*
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Table 5-1. TVM Menu Labels  
Menu Label  
Description  
First Level  
Stores (or calculates) the total number of payments or  
compounding periods.*† (For a 30-year loan with  
monthly payments, N12 x 30360.)  
Shortcut for N: Multiplies the number in the display by  
@
P/YR, and stores the result in N. (If P/YR were 12, then  
30  
would set N360.)  
@
Stores (or calculates) the nominal annual interest rate  
as a percentage.  
Stores (or calculates) the present value—an initial cash  
flow or a discounted value of a series of future cash  
flows (PMTs + FV). To a lender or borrower, PV is the  
amount of the loan; to an investor, PV is the initial  
investment. If PV paid out, it is negative. PV always  
occurs at the beginning of the first period.  
Stores (or calculates) the dollar amount of each periodic  
payment. All payments are equal, and no payments are  
skipped. (If the payments are unequal, use CFLO, not  
TVM.) Payments can occur at the beginning or end of  
each period. If PMT represents money paid out, it is  
negative.  
Stores (or calculates) the future value—a final cash  
flow or a compounded value of a series of previous  
cash flows (PV + PMTs). FV always occurs at the end of  
the last period. If FV is paid out, it is negative.  
e
Second Level  
Specifies the number of payments or compounding  
periods per year.† (it must be an integer, 1 through  
999.)  
When a non-integer N (an “odd period”) is calculated, the answer must be  
interpreted carefully. See the savings account example on page 71.  
Calculations using a stored, non-integer N produce a mathematically  
correct result, but this result has no simple interpretation. The example on  
page 172 uses the Solver to do a partial-period (non-integer) calculation in  
which interest begins to accrue prior to the beginning of the first regular  
payment period.  
*
The number of payment periods must equal the number of compounding periods. If  
this is not true, see page 87. For Canadian mortgages, see page 197.  
5: Time Value of Money  
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Table 5-1. TVM Menu Labels (Continued)  
Menu Label  
Description  
Second Level (Continued)  
Sets Begin mode: payments occur at the beginning of  
each period. Typical for savings plans and leasing.  
(The Begin and End modes do not matter if PMT0.)  
Sets End mode: payments occur at the end of each  
period. Typical for loans and investments.  
Accesses the amortization menu. See page 78.  
The calculator retains the values of the TVM variables until you clear  
them by pressing  
. When you see the first-level TVM menu,  
@c  
pressing  
clears N, I%YR, PV, PMT, and FV.  
@c  
When the second-level menu ( ) is displayed, pressing  
resets the payment conditions to  
.
     
@c  
To see what value is currently stored in a variable, press  
menu  
R
label. This shows you the value without recalculating it.  
Cash Flow Diagrams and Signs of Numbers  
It is helpful to illustrate TVM calculations with cash-flow diagrams.  
Cash-flow diagrams are time lines divided into equal segments called  
compounding (or payment) periods. Arrows show the occurrence of  
cash flows (payments in or out). Money received is a positive number  
(arrow up) and money paid out is a negative number (arrow down).  
The correct sign (positive or negative) for TVM numbers is  
essential. The calculations will make sense only if you  
consistently show payments out as negative and payments in  
Note  
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5: Time Value of Money  
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(receipts) as positive. Perform a calculation from the point of view of  
either the lender (investor) or the borrower, but not both!  
(Loan)  
Money re-  
ceived is a  
Equal periods  
positive  
number  
1
2
3
4
5
PMT  
Money paid out  
is a negative  
number  
Equal payments  
(FV is  
Future Value,  
if any; e.g.  
a balloon  
payment)  
Figure 5-3. A Cash Flow Diagram for a Loan from Borrower’s  
Point of View (End Mode)  
1
2
3
4
5
Loan  
Figure 5-4. A Cash Flow Diagram for a Loan from Lender’s  
Point of View (End Mode)  
5: Time Value of Money  
65  
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Payments occur at either the beginning of each period or the end of  
each period. End mode is shown in the last two figures; Begin mode is  
shown in the next figure.  
Capitalized  
value  
of lease  
1
2
3
4
5
Figure 5-5. Lease Payments Made at the Beginning of Each  
Period (Begin Mode)  
Using the TVM Menu  
First draw a cash-flow diagram to match your problem. Then:  
1. From the MAIN menu, press    
.
2. To clear previous TVM values, press  
. (Note:You don’t  
@c  
need to clear data if you enter new values for all five variables, or if  
you want to retain previous values.)  
3. Read the message that describes the number of payments per year  
and the payment mode (Begin, End). If you need to change either of  
these settings, press   
.
To change the number of payments per year, key in the new value  
and press . (If the number of payments is different from the  
number of compounding periods, see “Compounding Periods  
Different from Payment Periods,” page 87.)  
To change the Begin/End mode, press or   
Press  
to return to the primary TVM menu.  
e
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4. Store the values you know. (Enter each number and press its menu  
key.)  
5. To calculate a value, press the appropriate menu key.  
You must give every variable—except the one you will calculate—a  
value, even if that value is zero. For example, FV must be set to zero  
when you are calculating the periodic payment (PMT) required to fully  
pay back a loan. There are two ways to set values to zero:  
Before storing any TVM values, press  
to clear the previous  
@c  
TVM values.  
Store zero; for example, pressing 0 sets FV to zero.  
Loan Calculations  
Three examples illustrate common loan calculations. (For amortization of  
loan payments, see page 77.) Loan calculations typically use End mode  
for payments.  
Example:A Car Loan. You are financing the purchase of a new car with  
a 3-year loan at 10.5% annual interest, compounded monthly. The  
purchase price of the car is $7,250. Your down payment is $1,500.  
What are your monthly payments? (Assume payments start one month  
after purchase—in other words, at the end of the first period.) What  
interest rate would reduce your monthly payment by $10?  
_
7, 250 1,500  
0
10.5  
3
12  
X
12; End mode  
2
1
35  
36  
5: Time Value of Money  
67  
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Keys:  
Display:  
Description:  
   
Displays TVM menu.  
    Clears history stack and  
@c  
TVM variables.  
If needed: sets 12  
payment periods per year;  
@c  
e
    End mode.  
3
12  
Figures and stores number  
*
v
  
of payments.  
10.5   
7250 1500  
  
Stores annual interest rate.  
Stores amount of the loan.  
-
v
  
  
Calculates payment.  
Negative value means  
money to be paid out.  
To calculate the interest rate that reduces the payment by $10, add 10  
to reduce the negative PMT value.  
10   
  
  
Stores the reduced  
payment amount.  
Calculates the annual  
interest rate.  
+
v
Example: A Home Mortgage. After careful consideration of your  
personal finances, you’ve decided that the maximum monthly mortgage  
payment you can afford is $630. You can make a $12,000 down  
payment, and annual interest rates are currently 11.5%. If you take out  
a 30-year mortgage, what is the maximum purchase price you can  
afford?  
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Keys:  
Display:  
Description:  
   
Display TVM menu.  
    Clears history stack and  
@c  
TVM variables.  
If needed: sets 12 payment  
@c  
    periods per year; End  
e
mode.  
30  
  
Pressing  
first multiplies  
@
@
30 by 12, then stores this  
number of payments in N.  
Stores annual interest rate.  
Stores a negative monthly  
payment.  
11.5   
  
630  
&
  
  
  
Calculates loan amount.  
Calculates total price of the  
house (loan plus down  
payment).  
12000  
+ =  
v
Example: A Mortgage with a Balloon Payment. You’ve taken out a  
25-year, $75,250 mortgage at 13.8% annual interest. You anticipate  
that you will own the house for four years and then sell it, repaying the  
loan in a “balloon payment.” What will be the size of your balloon  
payment?  
5: Time Value of Money  
69  
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75,250  
13.8  
X
4
12  
12; End mode  
1
2
47  
48  
Balloon.  
The problem is done in two steps:  
1. Calculate the monthly payment without the balloon (FV=0).  
2. Calculate the balloon payment after 4 years.  
Keys:  
Display:  
Description:  
   
Display TVM menu.  
    Clears history stack and  
@c  
TVM variables.  
If needed: sets 12 payment  
@c  
    periods per year; End  
e
mode.  
Step 1. Calculate PMT for the mortgage.  
25  
  
Figures and stores the  
number of monthly  
@
payments in 25 years.  
Stores annual interest rate.  
Stores amount of the loan.  
Calculates monthly  
payment.  
13.8   
75250   
  
  
  
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Step 2. Calculate the balloon payment after 4 years.  
894.33  
Stores rounded PMT value  
for exact payment amount  
(no fractional cents).*  
&
  
4
  
Figures and stores number  
of payments in 4 years.  
Calculates balloon payment  
after four years. This  
@
  
amount plus last monthly  
payment repays the loan.  
Savings Calculations  
Example: A Savings Account. You deposit $2,000 into a savings  
account that pays 7.2% annual interest, compounded annually. If you  
make no other deposits into the account, how long will it take for the  
account to grow to $3,000? Since this account has no regular payments  
(PMT=0), the payment mode (End or Begin) is irrelevant.  
3,000  
0
7. 2  
1
_
2,000  
The PMT stored in the previous step is the 12-digit number—894.330557971.  
The calculation of the balloon payment must use the actual monthly payment  
amount: the rounded number $894.33, an exact dollars-and-cents amount.  
*
5: Time Value of Money  
71  
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Keys:  
Display:  
Description:  
   
Displays TVM menu.  
    Clears history stack and  
@c  
TVM variables.  
Sets one compounding  
per./yr. (one interest  
1   
  pmt./yr.). Payment mode  
e
does not matter.  
7.2   
  
Stores annual interest rate.  
Stores amount of deposit.  
Stores future account  
2000  
  
&
3000   
  
balance in FV.  
Calculates number of  
compounding periods  
(years) for the account to  
reach $3,000.  
  
There is no conventional way to interpret results based on a non-integer  
value (5.83) of N. Since the calculated value of N is between 5 and 6,  
it will take 6 years of annual compounding to achieve a balance of at  
least $3,000. The actual balance at the end of 6 years can be  
calculated as follows:  
6   
  
Stores a whole number of  
years in N.  
  
Calculates account balance  
after six years.  
Example: An Individual Retirement Account (IRA). You opened an IRA  
on April 15, 2003, with a deposit of $2,000. Thereafter, you deposit  
$80.00 into the account at the end of each half-month. The account  
pays 8.3% annual interest, compounded semimonthly. How much  
money will the account contain on April 15, 2018?  
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8.3  
2 12; End mode  
X
15 12 2  
X
X
1
2
359  
360  
_
80  
_
2,000  
Keys:  
Display:  
Description:  
   
Displays TVM menu. It is  
not necessary to clear data  
because you do not need to  
set any of the values to  
zero.  
Sets 24 payment periods  
per year. End mode.  
24   
     
  
e
15  
Figures and stores number  
of deposits in N.  
@
8.3   
  
Stores annual interest rate.  
Stores initial deposit.  
Stores semimonthly  
payment.  
2000  
80  
  
&
  
&
  
Calculates balance in IRA  
after 15 years.  
5: Time Value of Money  
73  
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Leasing Calculations  
Two common leasing calculations are 1) finding the lease payment  
necessary to achieve a specified yield, and 2) finding the present value  
(capitalized value) of a lease. Leasing calculations typically use  
“advance payments”. For the calculator, this means Begin mode  
because all payments will be made at the beginning of the period. If  
there are two payments in advance, then one payment must be  
combined with the present value. For examples with two or more  
advance payments, see pages 74 and 199.  
Example: Calculating a Lease Payment. A new car valued at $13,500  
is to be leased for 3 years. The lessee has the option to purchase the car  
for $7,500 at the end of the leasing period. What monthly payments,  
with one payment in advance, are necessary to yield the lessor 14%  
annually? Calculate the payments from the lessor’s point of view. Use  
Begin payment mode because the first payment is due at the inception  
of the lease.  
7,500  
1
2
3
34  
35  
36  
14  
36  
12; Begin mode  
_
13,500  
Keys:  
Display:  
Description:  
   
Displays TVM menu.  
Sets 12 payment periods  
per year, Begin mode.  
12   
    
  
e
36   
  
Stores number of payments.  
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14   
  
Stores annual interest rate.  
Stores car’s value in PV.  
(Money paid out by lessor.)  
Stores purchase option  
value in FV. (Money  
13500  
&
  
  
7500   
received by lessor.)  
  
Calculates monthly payment  
received.  
Example: Present Value of a Lease with Advance Payments and  
Option to Buy. Your company is leasing a machine for 4 years.  
Monthly payments are $2,400 with two payments in advance. You  
have an option to buy the machine for $15,000 at the end of the  
leasing period. What is the capitalized value of the lease? The interest  
rate you pay to borrow funds is 18%, compounded monthly.  
47  
18  
12; Begin mode  
1
2
_
3
44  
45  
46  
47  
48  
2
2,400  
4,800  
_
15,000  
The problem is done in four steps:  
1. Calculate the present value of 47 monthly payments in Begin mode.  
(Begin mode makes the first payment an advance payment.)  
2. Add one additional payment to the calculated present value. This  
adds a second advance payment to the beginning of the leasing  
period, replacing what would have been the final (48th) payment.  
3. Find the present value of the buy option.  
4. Add the present values calculated in steps 2 and 3.  
5: Time Value of Money  
75  
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Keys:  
Display:  
Description:  
   
Displays TVM menu.  
    Clears history stack and  
@c  
TVM variables.  
Sets 12 payment periods  
per year; Begin mode.  
12   
    
  
e
Step 1: Find the present value of the monthly payments.  
47   
  
  
Stores number of payments.  
Stores annual interest rate.  
Stores monthly payment.  
Calculates present  
18   
2400  
  
&
  
(capitalized) value of the  
47 monthly payments.  
Step 2: Add the additional advance payment to PV. Store the answer.  
2400  
+ =  
  
  
Calculates present value of  
all payments.  
v
0
Stores result in register 0.  
s
Step 3: Find the present value of the buy option.  
48   
  
Stores number of payment  
periods.  
15000  
Stores amount of the buy  
option (money paid out).  
There are no payments.  
&
  
  
0   
76  
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  
Calculates present value  
of the buy option.  
Step 4: Add the results of step 2 and 3.  
  
v
0
+R =  
Calculates present,  
capitalized value of lease.  
Amortization (AMRT)  
The AMRT menu (press    ) displays or prints the  
following values:  
The loan balance after the payment(s) are made.  
The amount of the payment(s) applied toward interest.  
The amount of the payment(s) applied toward principal.  
TVM  
PMT  
END  
INT  
FV  
OTHER  
BAL  
N
I%YR  
P/YR  
PV  
BEG  
#P  
AMRT  
NEXT  
TABLE  
PRIN  
5: Time Value of Money  
77  
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Table 5-2. AMRT Menu Labels  
Description  
Menu  
Label  
Stores the number of payments to be amortized, and  
calculates an amortization schedule for that many  
payments. Successive schedules start where the last  
schedule left off. #P can be an integer from 1 through  
1,200.  
Displays the amount of the payments applied toward  
interest.  
Displays the amount of the payments applied toward  
principal.  
Displays the balance of the loan.  
Calculates the next amortization schedule, which  
contains #P payments. The next set of payments starts  
where the previous set left off.  
Displays a menu for printing an amortization table  
(schedule).  
Displaying an Amortization Schedule  
For amortization calculations, you need to know PV, I%YR, and PMT. If  
you have just finished doing these calculations with the TVM menu, then  
skip to step 3.  
To calculate and display an amortization schedule:*  
1. Press   to display the TVM menu.  
Amortization calculations use values of PV, PMT, and INT rounded to the  
*
number of decimal places specified by the current display setting. A setting of  
2 means that these calculations will be rounded to two decimal places.  
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2. Store the values for I%YR , PV, and PMT. (Press  
to make PMT a  
&
negative number.) If you need to calculate one of these values, follow  
the instructions under “Using the TVM Menu,” on page 66. Then go  
on to step 3.  
3. Press to display the rest of the TVM menu.  
4. If necessary, change the number of payment periods per year stored  
in   
.
5. If necessary, change the payment mode by pressing  
or  
.
  
  
(Most loan calculations use End mode.)  
6. Press (If you want to print the amortization schedule, go to  
.
page 82 to continue.)  
7. Key in the number of payments to be amortized at one time and press  
. For example, to see a year of monthly payments at one time,  
set #P to 12. To amortize the entire life of a loan at one time, set #P  
equal to the total number of payments (N).  
If #P = 12, the display would show:  
Current set of  
payments to be amortized  
Number of payments  
amortized at one time  
Press to see results  
8.To display the results, press, , and (or press  
]
to view the results from the stack).  
9. To continue calculating the schedule for subsequent payments, do a  
or b. To start the schedule over, do c.  
a. To calculate the next successive amortization schedule, with the  
same number of payments, press .  
5: Time Value of Money  
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Next successive set of  
payments authorized  
b. To calculate a subsequent schedule with a different number of  
payments, key in that number and press .  
c. To start over from payment #1 (using the same loan information),  
press  
and proceed from step 7.  
@c  
Example: Displaying an Amortization Schedule. To purchase your  
new home, you have taken out a 30-year, $65,000 mortgage at 12.5%  
annual interest. Your monthly payment is $693.72. Calculate the  
amount of the first year’s and second year’s payments that are applied  
toward principal and interest.  
Then calculate the loan balance after 42 payments (3½ years).  
Keys:  
Display:  
Description:  
    
Displays TVM menu.  
Stores annual interest  
rate.  
12.5   
  
65000   
Stores loan amount.  
Stores monthly  
693.72  
&
  
payment.  
If needed: sets 12  
payment periods per  
year; End mode.  
Displays AMRT menu.  
     
@c  
    
  
80  
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12   
    
Calculates amortization  
schedule for first 12  
payments, but does not  
display it.  
  
  
  
    
Displays interest paid in  
first year.  
Displays principal paid  
in first year.  
Displays balance at end  
of first year.  
Calculates amortization  
schedule for next 12  
payments.  
  
Displays results for  
second year.  
  
  
To calculate the balance after 42 payments (3½ years), amortize 18  
additional payments (422418):  
18   
    
Calculates amortization  
schedule for next 18  
months.  
  
Displays results.  
  
  
  
5: Time Value of Money  
81  
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Printing an Amortization Table (TABLE)  
To print an amortization schedule (or “table”) do steps 1 through 5 for  
displaying an amortization schedule (see page 78).  
6. Press . Ignore the message  
    
.
  
7. Press .  
8. Key in the payment number of the first payment in the schedule and  
press (For instance, for the very first payment, FIRST= 1.)  
.
9. Key in the payment number of the last payment in the schedule and  
press .  
10.Key in the increment—the number of payments shown at one  
time—and press . (For instance, for one year of monthly  
payments at a time, INCR=12.)  
11.Press .  
Values are retained until you exit the TABLE menu, so you can print  
successive amortization schedules by re-entering only those TABLE  
values that change.  
Example: Printing an Amortization Schedule. For the loan described  
in the previous example (page 80), print an amortization table with  
entries for the fifth and sixth years. You can continue from the AMRT  
menu in the previous example (step 7, above) or repeat steps 1 through  
6.  
Starting from the AMRT menu:  
Keys:  
Display:  
Description:  
   
  
Displays menu for  
printing amortization  
table.  
4
12  
* +  
1   
The 49th is the first  
payment in year 5.  
v
82  
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6
12   
  
  
The 72nd is the last  
payment in year 6.  
Each table entry  
*
v
12   
represents 12 payments  
(1 year).  
Calculates and prints  
amortization schedule  
shown below.  
  
  
  
  
  
  
  
  
  
   
  
  
   
   
   
  
   
   
   
5: Time Value of Money  
83  
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6
Interest Rate Conversions  
The interest conversion (ICNV) menu converts between nominal and  
effective interest rates. To compare investments with different  
compounding periods, their nominal interest rates are converted to  
effective interest rates. This allows you, for example, to compare a  
savings account that pays interest quarterly with a bond that pays  
interest semiannually.  
The nominal rate is the stated annual interest rate compounded  
periodically, such as 18% per year compounded monthly.  
The effective rate is the rate that, compounded only once (that is,  
annually), would produce the same final value as the nominal rate. A  
nominal annual rate of 18% compounded monthly equals an effective  
annual rate of 19.56%.  
When the compounding period for a given nominal rate is one year,  
then that nominal annual rate is the same as its effective annual rate.  
84  
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The ICNV Menu  
FIN  
BUS  
SUM  
TIME SOLVE CURRX  
TVM  
PER  
ICNV CFLO BOND DEPRC  
CONT  
NOM% EFF%  
P
NOM% EFF%  
The ICNV menu converts between nominal and effective interest rates,  
using either:  
Periodic compounding; for example, quarterly, monthly, or daily  
compounding.  
Continuous compounding.  
Converting Interest Rates  
To convert between a nominal annual interest rate and an effective  
annual interest rate that is compounded periodically:  
1. Press   to display the interest conversions menu.  
2. Press for periodic.  
3. Key in the number of compounding periods per year and press  
.
4. To convert to the effective rate, first key in the nominal rate and press  
then press .  
,
5. To convert to the nominal rate, first key in the effective rate and press  
then press .  
,
6: Interest Rate Conversions  
85  
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To convert between a nominal annual interest rate and an effective  
annual interest rate that is compounded continuously:  
1. Press   to get the interest conversions menu.  
2. Press for “continuous.  
3. To convert to the effective rate, key in the nominal rate and press  
then press .  
,
4. To convert to the nominal rate, key in the effective rate and press  
then press .  
,
Values of EFF% and NOM% are shared between the PER and CONT  
menus. For example, an effective interest rate in CONT remains stored  
in EFF% when you exit the CONT menu and enter the PER menu.  
Pressing  
in either menu clears NOM% and EFF% in both.  
@c  
ICNV  
PER  
CONT  
NOM% EFF%  
P
NOM% EFF%  
Shared variables  
between PER and CONT  
Example: Converting from a Nominal to an Effective Interest Rate.  
You are considering opening a savings account in one of three banks.  
Which bank has the most favorable interest rate?  
Bank #1  
Bank #2  
Bank #3  
6.7% annual interest, compounded quarterly.  
6.65% annual interest, compounded monthly.  
6.65% annual interest, compounded continuously.  
Keys:  
Display:  
Description:  
   
Displays ICNV menu.  
Displays PER menu.  
   
  
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4   
  
Stores number of  
compounding periods per  
year for bank #1.  
6.7   
  
  
  
Stores nominal annual  
interest rate for bank #1.  
Calculates effective  
interest rate for bank #1.  
Stores number of  
12   
compounding periods per  
year for bank #2.  
6.65   
  
  
Stores nominal annual  
interest rate for bank #2.  
Calculates effective  
interest rate for bank #2.  
Displays CONT menu.  
Previous values of NOM%  
and EFF% are retained.  
Calculates effective rate  
for bank #3.  
  
  
e
  
The calculations show that bank #3 is offering the most favorable  
interest rate.  
Compounding Periods Different from  
Payment Periods  
The TVM menu assumes that the compounding periods and the payment  
periods are the same. However, regularly occurring savings- account  
deposits and withdrawals do not necessarily occur at the same time as  
the bank’s compounding periods. If they are not the same, you can  
adjust the interest rate using the ICNV menu, and then use the adjusted  
6: Interest Rate Conversions  
87  
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interest rate in the TVM menu. (You can also use TVM if PMT = 0,  
regardless of the compounding periods.)  
1. Call up the periodic interest-rate conversion menu (    
).  
2. Calculate the effective annual interest rate from the nominal annual  
interest rate given by the bank.  
a. Store annual interest rate in .  
b. Store number of compounding periods per year in .  
c. Press .  
3. Calculate the nominal annual interest rate that corresponds to your  
payment periods.  
a. Store the number of regular payments or withdrawals you will be  
making per year in .  
b. Press .  
4. Return to the TVM menu (  
).  
ee  
5. Store the just-calculated nominal interest rate in I%YR (press  
s
).  
6. Store the number of payments or withdrawals per year in and  
set the appropriate payment mode.  
7. Continue with the TVM calculation. (Remember that money paid out is  
negative; money received is positive.)  
a. N is the total number of periodic deposits or withdrawals.  
b. PV is the initial deposit.  
c. PMT is the amount of the regular, periodic deposit or withdrawal.  
d. FV is the future value.  
When the interest rate is the unknown variable, first calculate I%YR in  
the TVM menu. This is the nominal annual rate that corresponds to your  
payment periods. Next, use the ICNV menu to convert this to the  
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effective interest rate based on your payment periods. Last, convert the  
effective rate to the nominal rate based on the bank’s compounding  
periods.  
Example: Balance of a Savings Account. Starting today, you make  
monthly deposits of $25 into an account paying 5% interest  
compounded daily (365-day basis). At the end of 7 years, how much  
will you receive from the account?  
Keys:  
Display:  
Description:  
   
  
  
   
  
Periodic interest-rate  
conversion menu.  
365   
5   
  
Stores bank’s  
compounding periods.  
Stores bank’s nominal  
interest rate.  
  
  
  
Calculates effective interest  
rate for daily compounding.  
Stores number of deposits  
per year.  
12   
  
Calculates equivalent  
nominal interest rate for  
monthly compounding.  
Switches to TVM menu;  
NOM% value is still in  
calculator line.  
ee  
  
<
  
Stores adjusted nominal  
interest rate in I%YR.  
Sets 12 payments per  
s
12   
    year; Begin mode.  
e
6: Interest Rate Conversions  
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7
Stores 84 deposit periods,  
$25 per deposit, and no  
money before the first  
regular deposit.  
@
25  
&
  
0
  
Value of account in 7  
years.  
If the interest rate were the unknown, you would first do the TVM  
calculation to get I%YR (5.01). Then, in the ICNV PER menu, store 5.01  
as NOM% and 12 as P for monthly compounding. Calculate EFF%  
(5.13). Then change P to 365 for daily compounding and calculate  
NOM% (5.00). This is the bank’s rate.  
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7
Cash Flow Calculations  
The cash flow (CFLO) menu stores and analyzes cash flows (money  
received or paid out) of unequal (ungrouped) amounts that occur at  
regular intervals.* Once you’ve entered the cash flows into a list, you  
can calculate:  
The total amount of the cash flows.  
The internal rate of return (IRR%).  
The net present value (NPV), net uniform series (NUS), and net future  
value (NFV) for a specified periodic interest rate (I%).  
You can store many separate lists of cash flows. The maximum number  
depends on the amount of available calculator memory.  
The CFLO menu  
FIN  
BUS  
SUM  
TIME SOLVE CURRX  
TVM  
ICNV CFLO BOND DEPRC  
CALC  
INSR DELET  
NAME GET  
TOTAL  
IRR%  
I%  
NPV  
NUS  
NFV  
The CFLO menu creates cash-flow lists and performs calculations with a  
list of cash flows.  
You can also use CFLO with cash flows of equal amounts, but these are  
usually handled more easily by the TVM menu.  
*
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Table 7-1. CFLO Menu Labels  
Description  
Menu Label  
Accesses the CALC menu to calculate TOTAL, IRR%,  
NPV, NUS, NFV.  
Allows you to insert cash flows into a list.  
Deletes cash flows from a list.  
Allows you to name a list.  
Allows you to switch from one list to another or  
create a new list.  
Turns the prompting for #TIMES on and off.  
To see the calculator line when this menu is in the display, press  
once. (This does not affect number entry.)  
I
To see this menu when the calculator line is in the display, press  
.
e
Cash Flow Diagrams and Signs of Numbers  
The sign conventions used for cash flow calculations are the same as  
those used in time-value-of-money calculations. A typical series of cash  
flows is one of two types:  
Ungrouped cash flows. These occur in series of cash flows without  
“groups” of equal, consecutive flows.* Because each flow is different  
from the one before it, the number of times each flow occurs is one.  
Any cash flow series can be treated as an ungrouped one if you enter each  
flow individually.  
*
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$300  
Money received is a  
positive number  
$250  
$200  
$200  
$125  
$100  
$0  
Time  
1
2
3
4
5
6
$
7
50  
8
periods  
_
Money paid out  
is a negative  
number  
Figure 7-1. Cash Flows (Ungrouped)  
The horizontal timeline is divided into equal compounding periods. The  
vertical lines represent the cash flows. For money received, the line  
points up (positive); for money paid out, the line points down (negative).  
In this case, the investor has invested $700. This investment has  
generated a series of cash flows, starting at the end of the first period.  
Notice that there is no cash flow (a cash flow of zero) for period five,  
and that the investor pays a small amount in period six.  
Grouped cash flows. These occur in a series containing “groups” of  
equal, consecutive flows. Consecutive, equal cash flows are called  
grouped cash flows. The series shown here is grouped into two sets of  
consecutive, equal cash flows:  
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1
2
3
4
5
6
7
8
9
Figure 7-2. Grouped Cash Flows  
After an initial payment of $100, the investor pays $100 at the end of  
periods 1 through 5, and $200 at the end of periods 6 through 8. The  
investment returns $1,950 at the end of period 9. For every cash flow  
you enter, the calculator prompts you to indicate how many times  
(#TIMES) it occurs.  
Creating a Cash-Flow List  
To use CFLO, be sure your cash flows are occurring at regular intervals  
and at the end of each period.* If a period is skipped, enter zero for its  
cash flow. If there are any grouped (consecutive and equal) cash flows,  
the #TIMES prompting makes entering the data easier.  
If the cash flows occur at the beginning of each period, then combine the first  
*
flow with the initial flow (which can increase or decrease the flow), and move  
each cash flow up one period. (Remember: a payment made at the beginning  
of period 2 is equivalent to the same payment made at the end of period 1,  
and so on. Refer to pages 64-92.)  
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Entering Cash Flows  
To enter cash flows into a CFLO list:  
1. Press   You will see either  
if the current  
  
if the list is not empty. This is  
.
  
list is empty, or  
or more  
  
the bottom of the current list.  
2. If the list is not empty, you can do either a or b:  
a. Clear the list by pressing (see also page 99.)  
@c  
b. Get a new list by pressing   (The old list must be  
named first. Press or see page 97.)  
3. If the cash flows are ungrouped (that is, they are all different), then  
press to turn  
. For grouped cash  
    
flows, leave this prompting on. (For more information, see “Prompting  
for #TIMES,” next page.)  
4. Key in the value of the initial cash flow, FLOW(0) (remember that  
money paid out is negative—use  
to change the sign), and press  
&
.*  
I
5. After briefly showing FLOW(0), the display shows  
. (To  
  
view FLOW(0) longer, hold down  
the value for FLOW(1) and press  
item appears.  
before releasing it.) Key in  
I
. The prompt for the next  
I
6. For grouped cash flows: The display now shows  
. If it does not, press  
to turn the  
  
e
#TIMES prompting on. (See “Prompting for #TIMES,below.) #TIMES  
is the number of consecutive occurrences of FLOW(1). #TIMES has  
You can do calculations with a number before entering it. This does not  
interfere with the list. When you press  
number is entered into the list.  
*
, the evaluated expression or  
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been automatically set to 1, and  
is displayed on the calculator  
  
line. Do either a or b:  
a. To retain the value 1 and go on to the next flow, press  
I
(or  
).  
]
b. To change #TIMES, key in the number and press  
.*  
I
Given #TIMES  
Calculator line  
7. Continue entering each cash flow and, for grouped flows, the number  
of times it occurs. The calculator recognizes the end of the list when a  
flow is left blank (no value is entered).  
8. Press  
to end the list and restore the CFLO menu. You can now  
e
proceed to correct the list, name the list, get another list, or do  
calculations with the values.  
Use these same instructions to enter additional lists.  
Prompting for #TIMES (#T?). When the calculator displays  
, it is prompting you for the number of times the current  
  
flow occurs. If all your cash flows are different (#TIMES always 1), then  
you don’t need the  
prompt. You can turn the prompting for  
  
#TIMES on and off by pressing in the CFLO menu. This  
produces a brief message: either  
  
, or  
.
   
    
While prompting is off, all cash flows you enter will have #TIMES = 1.  
When you are viewing a cash-flow list with the #TIMES prompting off,  
the calculator displays only those #TIMES values that are not 1.  
The maximum #TIMES for each cash flow is 999.  
*
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The #TIMES prompting is usually on, because it is automatically turned  
on whenever you clear or get a cash-flow list.  
Example: Entering Cash Flows. Enter the following ungrouped cash  
flows in a list and find the percentage internal rate of return (IRR).  
0:  
1:  
$500 2:  
$ 275  
200  
125 3:  
Keys:  
Display:  
Description:  
   
    
  
Asks for confirmation.  
Clears data from list and  
prompts for initial flow.  
@c  
  Sets prompting off be-  
  
cause it is not needed.  
Enters initial flow; then  
immediately prompts for  
next flow.  
500  
  
  
&I  
125  
  
  
Enters FLOW(1); prompts  
for next flow.  
I
275  
  
  
Enters FLOW(2); prompts  
for next flow.  
I
200  
  
  
Enters FLOW(3); prompts  
for next flow.  
I
    Ends list and displays  
e
  
CALC menu.  
  
Calculates IRR.  
Viewing and Correcting the List  
To display a particular list, use (see page 99).  
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The  
@[ @]  
and  
and  
keys move up and down one number at a time.  
display the beginning and end of the list.  
[ ]  
Changing or Clearing a Number. To change a number after it’s been  
entered: display the number, key in the new value, and press  
.
I
Use this same method to clear a number to zero. (Do not press  
or  
C
, which clear the calculator line, not the cash-flow entry.)  
<
Inserting Cash Flows into a List. Insertion occurs before (above) the  
current flow. Pressing inserts a zero cash flow and renumbers  
the rest of the list. You can then enter a new cash flow and its #TIMES.  
For example, if FLOW(6) is in the display, pressing puts a new,  
zero flow between the previously numbered FLOW(5) and FLOW(6).  
Deleting Cash Flows from a List. Pressing deletes both the  
current flow and its #TIMES.  
Copying a Number from a List to the Calculator Line  
To copy a number from the list into the calculator line, use  
or  
] [  
to  
display the number, then press  
.
RI  
Naming and Renaming a Cash-Flow List  
A new list has no name. You may name it before or after filling the list,  
but you must name it in order to store another list.  
To name a list:  
1. Press from the CFLO menu.  
2. Use the ALPHA menu to type a name. (The ALPHA and ALPHA-Edit  
menus are covered on pages 30 - 32.) To clear a name, press  
.
C
3. Press  
.
I
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The name can be up to 22 characters long and include any character  
except:+ - x ÷ ( ) < > : = space *  
But only the first three to five characters (depending on letter widths) of  
the name are used for a menu label. Avoid names with the same first  
characters, since their menu labels will look alike.  
Viewing the Name of the Current List. Press , then  
.
e
Starting or GETting Another List  
When you press , the cash-flow list that appears is the same as  
the last one used.  
To start a new list or switch to a different one, the current list must be  
named or cleared. If it is named, then:  
1. Press .The GET menu contains a menu label for each named  
list plus .  
2. Press the key for the desired list. ( brings up a new, empty  
list.)  
Clearing a Cash-Flow List and Its Name  
To clear a list’s numbers and name:  
1. Display the list you want to clear, then press  
. This  
@c  
removes the numbers.  
2. If the list is named, you’ll see  
     
Press to remove the name. Press to retain the name  
with an empty list.  
CFLO does accept these exceptional characters in list names, but the Solver  
functions SIZEC, FLOW, and #T do not.  
*
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To remove just one value at a time from a list, use .  
Cash-Flow Calculations: IRR, NPV, NUS, NFV  
Once you have entered a list of cash flows, you can calculate the  
following values in the CALC menu.  
Sum (TOTAL).  
Internal rate of return (IRR%). This is a periodic rate of return. To  
calculate an annual nominal rate when the period is not a year,  
multiply the IRR% by the number of periods per year.  
If you want the IRR% as an effective annual rate, then use the FIN  
ICNV menu to convert from the nominal annual rate to the effective  
annual rate.  
Net present value (NPV), net uniform series (NUS), and net future  
value (NFV) for a specified, periodic interest rate, I%.  
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Table 7-2. The CALC Menu for CFLO Lists  
Menu Label  
Description  
Calculates the sum of the cash flows.  
*  
Calculates the internal rate of return—the interest  
(discount) rate at which the net present value of the  
cash flows equals zero.  
Stores the periodic interest rate, expressed as a  
percentage (sometimes called cost of capital,  
discount rate, or required rate of return).  
Given I%, calculates the net present value—the  
present value of a series of cash flows.  
Given I%, calculates the net uniform series—the  
dollar amount of constant, equal cash flows having  
a present value equivalent to the net present value.  
Given I%, calculates the net future value of a series  
of cash flows by finding the future value of the net  
present value.  
The calculations for internal rate of return are complex and may take a  
relatively long time. To interrupt the calculation, press any key. In certain  
cases, the calculator displays a message indicating that the calculation  
cannot continue without further information from you, or that there is no  
solution. Refer to appendix B for additional information about calculating  
IRR%.  
*
About the Internal Rate of Return (IRR%). A “conventional investment”  
is considered attractive if IRR% exceeds the cost of capital. A  
conventional investment meets two criteria—(1) the sequence of cash  
flows changes sign only once, and (2) the sum (TOTAL) of the cash flows  
is positive.  
Remember that the calculator determines a periodic IRR%. If the cash  
flows occur monthly, then IRR% is a monthly value, too. Multiply it by 12  
for an annual value.  
7: Cash Flow Calculations 101  
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Example: Calculating IRR and NPV of an Investment. An investor  
makes an initial investment of $80,000, and expects returns over the  
next five years as illustrated below.  
115,000  
5,500  
5,000  
4,500  
4,000  
1
2
3
4
5
_
$
80,000  
(Initial flow)  
Calculate the total of the cash flows and the internal rate of return of the  
investment. In addition, calculate the net present value and net future  
value, assuming an annual interest rate of 10.5%.  
Start the problem with an empty cash-flow list. Since the cash flows are  
ungrouped, each one occurs just once. Turn off the #TIMES prompt to  
make cash-flow entry faster.  
Keys:  
Display:  
Description:  
Displays current cash-flow list  
and CFLO menu keys.  
Clears current list or gets a  
new one. The empty list  
prompts for its initial cash  
flow.  
@c  
or  
    
  Briefly shows the status of  
  
, then returns to the  
list. With prompting off, all  
cash flows are assumed to  
occur just once.  
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80000  
  
Prompts for next cash flow.  
Calculator line  
&
  
I
shows last number entered.  
Stores $5,000 for FLOW(1),  
prompts for next flow.  
Stores FLOW(2).  
5000  
  
I
4500  
5500  
4000  
  
  
  
  
I
I
I
Stores FLOW(3).  
Stores FLOW(4).  
115000  
Stores final cash flow and  
shows end of list.  
I
Calculates sum of the cash  
e
 flows.  
  
Calculates internal rate of  
return.  
10.5   
  
Stores periodic interest rate.  
Calculates NPV.  
Calculates NFV.  
  
  
Now calculate the net present value at an interest rate of 10.5% if cash  
flow #4 is reduced to $1,000.  
  
Displays the bottom of the  
list.  
e
 Moves to cash flow #4.  
Changes cash flow #4 to  
$1,000.  
[[  
1000  
I
Calculates new NPV.  
e
  
7: Cash Flow Calculations 103  
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Example: An Investment with Grouped Cash Flows. You are  
considering an investment that requires a cash outlay of $9,000, with  
the promise of monthly cash flows as shown. Calculate IRR%. Also find  
NPV and NFV at an annual interest rate of 9%.  
0
_
$
9,000  
Since some of these cash flows are grouped (consecutive and equal),  
the #TIMES prompting must be on so you can specify a number other  
than 1.  
Group Number  
Amount  
Number of Times  
Initial  
9,000  
500  
1,000  
0
1,500  
3
1
2
3
4
4
1
3
Keys:  
Display:  
Description:  
Current cash-flow list and  
CFLO menu.  
Clears current list. #TIMES  
prompting is turned on.  
Stores the initial cash  
flow.  
@c  
  
  
9000  
&I  
104 7: Cash Flow Calculations  
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500  
3
  
  
Stores FLOW(1) and  
prompts for #TIMES(1).  
FLOW(1) occurs 3 times;  
prompts for next cash  
flow.  
I
I
1000  
4
3
Stores FLOW(2) four  
times.  
I
  
I
0
Stores FLOW(3) one time  
(the 1 is automatically  
entered).  
I
  
I
1500  
Stores FLOW(4) three  
times.  
I
  
I
Displays the CALC menu.  
Calculates monthly IRR%.  
e
  
9
12  
Stores the periodic,  
monthly interest rate.  
Calculates NPV.  
/
v
  
  
  
Calculates NFV.  
Example: An Investment with Quarterly Cash Returns. You have been  
offered an opportunity to invest $20,000. The investment returns  
quarterly payments over four years as follows:  
Year 1  
Year 2  
Year 3  
Year 4  
4 payments of $500  
4 payments of $1,000  
4 payments of $2,000  
4 payments of $3,000  
7: Cash Flow Calculations 105  
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Calculate the annual rate of return for this investment. (The prompting for  
#TIMES should be on.)  
Keys:  
Display:  
Description:  
   
Current cash-flow list.  
Clears the current list or  
gets a new one. This sets  
the #TIMES prompting on.  
@c  
or  
   
  
20000  
Stores the initial cash  
flow.  
&
  
  
I
500  
Stores FLOW(1), then  
prompts for number of  
times this flow occurs.  
FLOW(1) occurs four  
times.  
I
4
  
I
1000  
4
4
4
Stores FLOW(2), FLOW(3)  
and FLOW(4), and the  
number of times each flow  
occurs.  
I
I
2000  
I
I
3000  
I
106 7: Cash Flow Calculations  
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  
I
Calculates quarterly rate  
of return.  
e
  
  
4
* =  
Calculates nominal annual  
rate of return from  
quarterly rate.  
v
Doing Other Calculations with CFLO Data  
If you would like to do other calculations with cash flows besides those  
in the CALC menu, you can do so by writing your own Solver equations.  
There are Solver functions that can access data stored in CFLO lists, and  
there is a summation function that can combine all or part of the values  
stored in specific lists.  
Refer to “Accessing CFLO and SUM Lists from the Solver” in chapter 12.  
7: Cash Flow Calculations 107  
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8
Bonds  
The BOND menu calculates the yield to maturity or price of a bond. It  
also calculates yield to call on a coupon date and accrued interest. You  
can specify the:  
Calendar basis: 30/360 or actual/actual (days per month/days per  
year). Municipal, state, and corporate bonds issued in the United  
States are typically 30/360. U.S. Treasury bonds are actual/actual.  
Coupon payments: semi-annual or annual. Most U.S. bonds are  
semi-annual.  
The BOND Menu  
FIN  
BUS  
SUM  
TIME SOLVE  
CURRX  
TVM  
TYPE  
ICNV CFLO BOND DEPRC  
SETT  
MAT  
CPN% CALL  
MORE  
MORE  
ACCRU  
YLD% PRICE  
Pressing shows you the BOND menu and the type of bond  
currently specified:  
or  
;
   
or  
.
  
  
108 8: Bonds  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Table 8-1. BOND Menu Labels  
Description  
Menu  
Label  
Displays a menu of bond types: 30/360 or  
actual/actual, semi-annual or annual.  
Stores the settlement (purchase) date according to the  
current date format (MM.DDYYYY or DD.MMYYYY;  
see page 143).  
Stores the maturity date or call date according to the  
current date format. The call date must coincide with  
a coupon date.  
Stores the annual coupon rate as a percentage.  
Stores the call price per $100 face value. For a yield  
to maturity, make sure CALL equals 100. (A bond at  
maturity has a “call” value that is 100% of its face  
value.)  
Stores or calculates the yield (as an annual  
percentage) to maturity or yield to call date.  
Stores or calculates the price per $100 face value.  
Calculates the interest accrued from the last  
coupon-payment date until the settlement date, per  
$100 face value.  
The calculator retains the values of the BOND variables until you clear  
them by pressing while the BOND menu is displayed.  
@c  
Clearing sets CALL to 100 and all other variables to zero.  
To see the value currently stored in a variable, press  
menu label.  
R
8: Bonds 109  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Doing Bond Calculations  
Remember that values in the BOND menu are expressed per $100 face  
value or as a percentage. A CALL value of 102 means that the bond will  
be worth $102 for every $100 of face value when called. Some  
corporate bonds in the United States use the convention that the price of  
the bond is set to 100 if the coupon rate equals the yield, whether or not  
the settlement date is a coupon date. The BOND menu does not use this  
convention.  
To calculate the price or yield of a bond:  
1. Display the BOND menu: press  .  
2. Press  
. This sets CALL=100.  
@c  
3. Define the type of bond. If the message in the display does not match  
the type you want, press .  
Calendar basis  
Interest period  
Pressing sets the calendar basis to a 30-day month and a  
360-day year.  
Pressing sets the calendar basis to the actual calendar  
month and to the actual calendar year.  
Pressing sets semi-annual coupon payments.  
Pressing sets annual coupon payments.  
Press  
to restore the BOND menu.  
e
4. Key in the settlement date (MM.DDYYYY or DD.MMYYYY depending  
on the date format; see chapter 11) and press .  
5. Key in the maturity date or call date and press .  
6. Key in the coupon rate as an annual percent and press .  
7. Key in the call value, if any, and press . For a bond held to  
110 8: Bonds  
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maturity, the CALL value must equal 100. (See step 3.)  
8. To calculate a result, first press to access the remaining menu  
labels. Do either a or b:  
a. Key in the yield and press . Press to calculate the  
price.  
b. Key in the price and press . Press to calculate the  
yield.  
To calculate the accrued interest, press The total amount owed  
.
the seller is PRICE + ACCRU, that is:   
+ =  
.
v
Calculating Fractional Values. When given a fractional value that must  
be entered in decimal form, do the arithmetic and then store the result  
directly into a variable. Do not clear the arithmetic and then retype the  
result before storing it—this is an unnecessary step that can cause  
incorrect answers due to rounding. See how the following example  
stores 83/8 in YLD%.  
Example: Price and Yield of a Bond. What price should you pay on  
August 10, 2003 for a 6¾% U.S. Treasury bond that matures on May 1,  
2018 if you wish a yield of 83/8%? The calendar basis is actual/actual  
and the coupon payments are semi-annual. (The example assumes  
MM.DDYYYY date format.)  
Keys:  
Display:  
Description:  
   
Since there is no call on  
this bond, set CALL = 100  
by clearing variables.  
Sets bond type, if  
necessary.  
@c  
   
   
e
8.102003  
Stores settlement  
(purchase) date.  
  
   
5.012018  
Stores maturity date.  
8: Bonds 111  
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  
  
6.75   
  
Stores annual coupon  
rate.  
Stores desired yield  
(displayed rounded to two  
decimal places).*  
Result: price is $86.38  
per $100 face value.  
Adds accrued interest  
owed the seller.  
3
8
8
/ +  
v
  
  
  
  
+
v
=
Net price.  
v
Suppose that the market quote for the bond is 88¼. What yield does it  
represent?  
88.25   
  
  
Stores quoted price.  
Result: yield to maturity.  
Example: A Bond with a Call Feature. What is the price of a 6%  
corporate bond maturing on March 3, 2022 and purchased on May 2,  
2003 to yield 5.7%? It is callable on March 3, 2006 (a coupon date),  
at a value of 102.75. What is the yield to the call date? Use a 30/360  
calendar with semi-annual coupon payments.  
Keys:  
Display:  
Description:  
   
Displays BOND menu,  
clears variables.  
@c  
   
Sets bond type, if  
  necessary.  
e
.
To see the full precision of the number, press  
@S  
*
112 8: Bonds  
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5.022003   
   
Stores purchase date  
(MM.DDYYYY format).  
3.032022   Stores maturity date.  
6   
  
Stores annual coupon  
rate.  
Stores yield.  
5.7   
  
  
Calculates price.  
Changes maturity date  
to call date and stores  
a call value.  
3.032006  
102.75  
  
  
Calculates yield to call.  
Example: A Zero-Coupon Bond. Calculate the price of a zero-coupon,  
semi-annual bond using a 30/360 calendar basis. The bond was  
purchased on May 19, 2003 and will mature on June 30, 2017, and  
has a yield to maturity of 10%.  
Keys:  
Display:  
Description:  
   
Clears BOND  
variables, setting CALL  
to 100.  
@c  
   
Sets type if necessary  
  (check the display).  
e
5.192003  
  
Purchase date  
   
(MM.DDYYYY format).  
Maturity date.  
6.302017  
   
  
0   
Coupon rate is zero.  
Yield to maturity.  
Calculates price.  
10   
  
8: Bonds 113  
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9
Depreciation  
The DEPRC (depreciation) menu calculates depreciation values and  
remaining depreciable values one year at a time. The methods available  
are:  
Declining balance.  
Sum-of-the-years’ digits.  
Straight line.  
Accelerated Cost Recovery System.  
The DEPRC Menu  
FIN  
BUS  
SUM  
TIME SOLVE  
CURRX  
TVM  
ICNV CFLO BOND DEPRC  
BASIS  
SALV  
LIFE  
DB  
ACRS% ACRS MORE  
YR#  
FACT%  
SOYD  
SL  
MORE  
Pressing displays the DEPRC menu.  
114 9: Depreciation  
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Table 9-1. DEPRC Menu Labels  
Description  
Menu  
Label  
Stores the depreciable cost basis of the asset at  
acquisition.  
Stores the salvage value of the asset at the end of its  
useful life. If there is no salvage value, set SALV=0.  
Stores the expected useful life (in whole years) of the  
asset.  
Stores the appropriate Accelerated Cost Recovery  
System percentage from the published ACRS tables.  
Calculates the ACRS deduction based on BASIS and  
ACRS%. (The values in SALV, LIFE, FACT%, and YR#  
do not matter.)  
Stores the number of the year for which you want the  
depreciation (1, 2, etc.).  
Stores the declining-balance factor as a percentage  
of the straight-line rate. This is for the DB method only.  
For example, for a rate 1¼ times (125%) the  
straight-line rate, enter 125.  
Calculates the declining-balance depreciation for the  
year.  
Calculates the sum-of-the-years‘-digits depreciation for  
the year.  
Calculates the straight-line depreciation for the year.  
Displays the remaining depreciable value, RDV, after  
]
you have pressed , , or .  
The calculator retains the values of the DEPRC variables until you clear  
them by pressing while the DEPRC menu is displayed.  
@c  
9: Depreciation 115  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
To see the value currently stored in a variable, press  
menu label.  
R
Doing Depreciation Calculations  
DB, SOYD, and SL Methods  
To calculate the depreciation for an asset:*  
1. Display the DEPRC menu: press  .  
2. Define the characteristics of the asset:  
a. Key in the cost basis and press   
b. Key in the salvage value and press . If there is no salvage  
value, enter zero.  
c. Key in the useful life and press .  
3. Press for the rest of the DEPRC menu.  
4. Key in the number for the year of depreciation you want to calculate  
(1, 2, 3, etc.) and press .  
5. If you are using the declining-balance method, enter the DB factor (a  
percentage) and press .  
6. Press , , or to calculate the appropriate  
depreciation.  
7. To see the remaining depreciable value (basis-salvage value-  
accumulated depreciation), press  
.
]
8. To calculate the depreciation for another year, just change YR# and  
press , , or again.  
The calculated values of RDV, DB, SOYD, and SL are rounded internally to the  
*
number of decimal places specified by the current display setting. A setting of  
2 means that these values will be rounded internally to two decimal  
places.  
116 9: Depreciation  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Example: Declining-Balance Depreciation. A metalworking machine,  
purchased for $10,000, is to be depreciated over 5 years. Its salvage  
value is estimated at $500. Find the depreciation and remaining  
depreciable value for each of the first 3 years of the machine’s life using  
the double-declining-balance method (200% of the straight-line rate). For  
comparison, find the straight-line depreciation, as well.  
Keys:  
Display:  
Description:  
   
Displays DEPRC menu.  
Cost basis.  
10000   
  
  
  
500   
Salvage value.  
Useful life.  
5   
1   
First year of depreciation.  
DB percentage factor.  
200   
  
  
Depreciation in first year.  
(Salvage value ignored at  
this point.)  
  
Remaining depreciable  
value after first year  
(BASIS - SALV - 4,000).  
Depreciation in second  
year.  
]
2     
  
Remaining depreciable  
value after second year.  
Depreciation in third year.  
Remaining depreciable  
value after third year.  
Straight-line depreciation  
for each year.  
]
3     
]
  
  
9: Depreciation 117  
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  
Remaining depreciable  
value after third year  
using SL.  
]
The ACRS Method  
To calculate the amount of tax deduction under the U.S. Accelerated  
Cost Recovery System:  
1. Display the DEPRC menu: press  .  
2. Enter the cost basis of the asset and press   
3. The Internal Revenue Service publishes tables that list the percentage  
of an asset’s basis that can be deducted each year of its prescribed  
life. Look up that value, enter it, and press .  
4. Press to calculate the value of the deduction.  
Example: ACRS Deductions. Use the ACRS method to find the in-  
come-tax deduction for a $25,000 asset over 3 years of a 5-year life.  
Use this hypothetical ACRS table:  
Year  
Percentage Deductible  
1
2
3
4
5
15  
25  
20  
20  
20  
Keys:  
Display:  
Description:  
   
25000   
15   
DEPRC menu.  
 Enters basis.  
  
Tabular value, year 1.  
Deduction in first year.  
  
118 9: Depreciation  
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25   
  
  
  
  
Tabular value, year 2.  
Deduction in second year.  
Tabular value, year 3.  
Deduction in third year.  
20   
Partial-Year Depreciation  
When the acquisition date of an asset does not coincide with the start of  
the tax or fiscal year, then the amounts of depreciation in the first and  
last years are computed as fractions of a full year’s depreciation. Except  
in SL, the intermediate years are computed as sums of fractions. This  
does not apply to the ACRS method.  
Suppose you acquired an asset in October and wanted to depreciate it  
for 3 years. (Your fiscal year begins January 1st.) The depreciation  
schedule would affect parts of 4 years, as shown in the illustration. The  
3 months from October to December equal ¼ year.  
Number of months  
3
9
Calendar  
years  
1
2
3
4
Depreciation  
years  
1
2
3
3-year life  
For SL depreciation, partial-year calculations are easy: calculate the SL  
value, then use ¼ of that value for the first year, the full amount the  
second and third years, and ¾ of that amount the fourth year.  
For DB and SOYD depreciation, each year’s depreciation value is  
different, as shown in the table:  
9: Depreciation 119  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Calendar Year  
Depreciation Value  
1 (Oct.-Dec.)  
¼ x year 1  
2
(¾ x year 1) + (¼ x year 2)  
(¾ x year 2) + (¼ x year 3)  
¾ x year 3  
3
4 (Jan.-Sept.)  
Example: Partial-Year Depreciation. A movie camera bought for  
$12,000 has a useful life of 10 years with a salvage value of $500.  
Using the sum-of-the-years’-digits method, find the amount of  
depreciation for the fourth year. Assume the first depreciation year was  
11 months long.  
Keys:  
Display:  
Description:  
   
12000   
500   
10   
Displays DEPRC menu.  
Stores known values.  
3   
  
Calculates depreciation  
for year 3.  
12  
/ =s  
1   
Stores 1 month’s  
v
depreciation from year 3.  
Calculates depreciation  
for year 4.  
4     
11  
12  
* / =  
  
  
Figures 11 months’  
depreciation from year 4.  
Figures total depreciation  
for year 4.  
v
1
+R =  
v
120 9: Depreciation  
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10  
Running Total and Statistics  
The SUM menu stores and statistically analyzes sets of numbers. As you  
enter the numbers, the calculator displays their running total. Once  
you’ve entered the numbers into a list, you can:  
Calculate the mean, median, standard deviation, and range.  
Display the largest and smallest number in the list.  
Sort the list from smallest number to largest number.  
With two lists of numbers, you can:  
Do curve-fitting and forecasting calculations using two SUM lists and  
one of four models—linear, exponential, logarithmic, and power.  
(Curve fitting for the linear model is called linear regression.)  
Calculate the weighted mean and grouped standard deviation.  
Find the summation statistics (x, x2, y, y2, xy).  
You can store many separate lists of numbers in SUM. The maximum  
number depends on the amount of available calculator memory.  
10: Running Total and Statistics 121  
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The SUM Menu  
FIN  
BUS  
SUM  
TIME SOLVE CURRX  
CALC INSR  
DELET NAME GET  
TOTAL  
TOTAL MEAN MEDN STDEV RANGE MORE  
MIN  
MAX  
SORT FRCST  
MORE  
The SUM menu creates lists of numbers and performs calculations with a  
SUM list.  
Table 10-1. SUM Menu Labels  
Menu  
Label  
Description  
Accesses the CALC menu to calculate the total, mean,  
median, standard deviation, range, minimum,  
maximum, sorting, and linear regression (including  
weighted mean and summation statistics).  
Allows you to insert numbers into the list.  
Deletes numbers from the list.  
Allows you to name the list.  
Allows you to switch from one named list to another  
or to create a new list.  
Displays the total of all the items in the list.  
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To see the calculator line when this menu is in the display, press  
once. (This does not affect number entry.)  
I
To see this menu when the calculator line is in the display, press  
.
e
Creating a SUM List  
To keep a running total of a list of numbers or do statistical calculations  
with sets of data, first create a SUM list of the values.  
Entering Numbers and Viewing the TOTAL  
To enter numbers into a SUM list:  
1. Press . You’ll see  
if the current list is empty, or  
  
if the list is not empty. This is the bottom of the  
2 or more  
  
  
current list.  
2. If the list is empty, start filling it (step 3). If the current list is not empty,  
you can do either a or b:  
a. Clear the list by pressing  
(see also page  
@c  
127.)  
b. Get a new list by pressing   (The old list must be  
named first. Press or see page 126.)  
3. Key in the value of the first item, ITEM(1) (press  
for a negative  
&
number), and press  
.* (To view ITEM(1) longer, hold down  
I
before releasing it.)  
I
Remember that you can do calculations with a number before entering it. This  
*
does not interfere with the list. Whenever you press  
, the number (or  
I
evaluated expression) in the calculator line is entered into the list. If you need  
to use the MATH menu, just press , do the calculation, then press  
)
@m  
to return to where you were in SUM.  
e
10: Running Total and Statistics 123  
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After briefly showing ITEM(1), the display shows  
  
=number  
  
TOTAL is the updated, running TOTAL of all the numbers in the list  
(only one number, so far).  
4. To enter ITEM(2), key in the value and press  
. The prompt for  
I
ITEM(3) and the new, updated total appear.  
5. Continue entering values for ITEM(3), ITEM(4), etc. The calculator  
recognizes the end of the list when an item is left blank (no value is  
entered).  
6. Press  
to end the list and restore the SUM menu. You can now  
e
proceed to correct the list, name the list, get another list, or do  
statistical calculations.  
Use these same instructions to enter additional lists.  
Viewing and Correcting the List  
To display a particular list, use (see page 127).  
The  
@[ @]  
and  
and  
keys move up and down the list one number at a time.  
display the beginning and end of the list.  
[ ]  
Changing or Clearing a Number. To change a number after it’s been  
entered: display the number, key in the new value, and press  
.
I
Use the same method to clear a number to zero. (Do not press  
or  
C
, which clears the calculator line.)  
<
Inserting Numbers into a List. Insertion occurs before (or above) the  
current entry. Pressing inserts a zero item and renumbers the rest  
of the list. You can then enter a new value.  
For example, if ITEM(6) is in the display, pressing puts a new,  
zero item between the previously numbered ITEM(5) and ITEM(6).  
124 10: Running Total and Statistics  
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Deleting Numbers from a List. Pressing deletes the current  
item.  
Example: Updating a Checkbook. On May 31, your checking account  
balance was $267.82. The transactions for the first 10 days in June  
are:  
Date Transaction Amount Date Transaction Amount  
6/1  
6/1  
6/1  
6/2  
Balance  
Deposit  
Check  
267.82  
837.42  
368.23 6/10  
6/3  
6/7  
Check  
Check  
Deposit  
128.90  
65.35  
55.67  
Check  
45.36  
Update the checkbook by calculating the running balance.  
Keys:  
Display:  
Description:  
*
@c  
  
  
Displays empty SUM list.  
Enters beginning balance  
and shows running total.  
Enters deposit on 6/1.  
267.82  
I
  
837.42  
  
I
  
368.23  
Enters remaining  
transactions.  
&
I
45.36  
&
I
128.90  
&
I
65.35  
&
If you want to preserve the current list, skip the next step (pressing  
Instead, name the list and then press  .  
).  
@c  
*
10: Running Total and Statistics 125  
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I
55.67  
  
  
  
I
Ends list and displays  
SUM menu again.  
e
Copying a Number from a List to the Calculator Line  
To copy a number from the list into the calculator line, use  
or  
] [  
to  
display the number, then press  
.
RI  
Naming and Renaming a SUM List  
A new list has no name. You may name it before or after filling the list,  
but you must name it in order to store another list.  
To name a list:  
1. Press from the SUM menu.  
2. Use the ALPHA menu to type in a name. (The ALPHA and ALPHA-Edit  
menus are covered on pages 30 - 32.) To clear a name, press  
.
C
3. Press  
.
I
The name can be up to 22 characters long and include any character  
except: + - x ÷ ( ) < > : = space *  
But only the first three to five characters (depending on letter widths) of  
the name are used for a menu label. Avoid names with the same first  
characters, since their menu labels will look alike.  
Viewing the Name of the Current List. Press then  
.
,
e
SUM does accept these exceptional characters in list names, but the Solver  
functions SIZES and ITEM do not.  
*
126 10: Running Total and Statistics  
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Starting or GETting Another List  
When you press the SUM list that appears is the last one used.  
,
To start a new list or switch to a different one, the current list must be  
named or cleared. If it is named, then:  
1. Press The GET menu contains a menu label for each named  
.
list plus .  
2. Press the key for the desired list. ( brings up a new, empty list.)  
Clearing a SUM List and Its Name  
To clear a list’s numbers and name:  
1. Display the list you want to clear, then press  
. This  
@c  
removes the numbers.  
2. If the list is named, you’ll see  
Press  
     
to remove the name. Press to retain the name with an  
empty list.  
To remove just one value at a time from a list, use .  
Doing Statistical Calculations (CALC)  
Once you have entered a list of numbers, you can calculate the  
following values.  
For one variable: the total, mean, median, standard deviation, range,  
minimum, and maximum. You can also sort the numbers in order of  
increasing value.  
For two variables: x-estimates and y-estimates (this is also called  
forecasting), the correlation coefficient for different types of curves  
(this is curve-fitting), the slope and y-intercept of the line, and  
summation statistics. You can also find the weighted mean and the  
grouped standard deviation.  
10: Running Total and Statistics 127  
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Calculations with One Variable  
The CALC menu calculates the following statistical values using one  
SUM list.  
Table 10-2. The CALC Menu for SUM Lists  
Menu Key  
Description  
Calculates the sum of the numbers in the list.  
Calculates the arithmetic mean (average).  
Calculates the median.  
Calculates the standard deviation.*  
Calculates the difference between the largest and  
smallest number.  
Finds the smallest (minimum) number in the list.  
Finds the largest (maximum) number in the list.  
Sorts the list in ascending order.  
Displays a series of menus for calculations with two  
variables for curve fitting, estimation, weighted mean  
and grouped standard deviation, and summation  
statistics.  
The calculator finds the sample standard deviation. The formula assumes  
that the list of numbers is a sampling of a larger, complete set of data. If the  
list is, in fact, the entire set of data, the true population standard deviation  
can be computed by calculating the mean of the original list, placing that  
value into the list, and then calculating the standard deviation.  
*
Example: Mean, Median, and Standard Deviation. Suppose your  
shop had the following phone bills during the past six months:  
128 10: Running Total and Statistics  
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Phone  
Expense  
Phone  
Expense  
Month  
Month  
1. May  
2. June  
3. July  
$340  
$175  
$450  
4. August  
$780  
$245  
$625  
5.September  
6. October  
Calculate the mean, median, and standard deviation of the monthly  
phone bills. Then display the smallest value in the list.  
Keys:  
Display:  
Description:  
Displays current SUM list  
and SUM menu keys.  
Clears current list or gets a  
new one.  
@c  
or  
   
  
  
  
  
  
340  
Stores May’s phone bill;  
shows total.  
I
175  
Stores June; updates total.  
I
450  
Stores phone bills for  
July-October and keeps a  
running total.  
I
780  
I
245  
I
625  
  
  
  
  
  
  
I
Displays CALC menu.  
Calculates mean.  
e
Calculates median.  
Calculates standard  
  
10: Running Total and Statistics 129  
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deviation.  
Displays rest of CALC  
menu.  
  
Finds smallest number.  
Calculations with Two Variables (FRCST)  
The FRCST menu does the following two-variable calculations using two  
SUM lists:  
Fits x- and y-data to a linear, logarithmic, exponential, or power  
curve.  
Forecasts estimated values based on that curve.  
Finds the weighted mean and grouped standard deviation.  
Shows you the summation statistics (Σx, Σx2, Σy, Σy2, Σxy, etc.).  
130 10: Running Total and Statistics  
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CALC  
TOTAL MEAN MEDN STDEV RANGE MORE  
MIN  
MAX  
SORT FRCST  
(select x and y)  
MORE  
x-list  
y-list  
CORR  
M
B
MORE  
MORE  
MODL W.MN G.SD  
SIZE  
LIN  
LOG  
EXP  
PWR  
X
Y
X2  
Y2  
XY  
MORE  
After pressing you must specify two previously created  
,
lists—one for the x-variable and one for the y-variable. The two lists must  
have the same number of items.  
10: Running Total and Statistics 131  
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Table 10-3. FRCST Menu Labels  
Menu Label  
Description  
list name for x-variable  
list name for y-variable  
These specify the two lists of data to be  
compared. Also used for estimations:store  
x and estimate y, or vice-versa. is  
the menu label for an unnamed current list.  
*  
Calculates the correlation coefficient, a  
number between 1 and 1 that  
measures how closely the x,y data points  
match the calculated curve.  
*  
Calculates M. For the linear model, this is  
the slope.  
*  
Calculates B. For the linear model, this is  
the y-intercept.  
Displays a choice of the four curve-fitting  
models:  
, , , and .  
Calculates the weighted mean of the  
x-values using the weights in the y-list.  
Calculates the standard deviation of a set  
of x-values grouped by frequencies  
specified in the y-list.  
The number of items in either list.  
Sum of items in x-list.  
Sum of items in y-list.  
Sum of squares of items in x-list.  
Sum of squares of items in y-list.  
Sum of products of items in x- and y-lists.  
For the non-linear models, the calculation uses the transformed data values.  
*
132 10: Running Total and Statistics  
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Curve Fitting and Forecasting  
Curve fitting is a statistical method for finding a relationship between  
two variables, x and y. Based on this relationship, you can estimate new  
values of y based on a given x-value, and vice-versa. Each SUM list  
holds the numbers (data values) for one variable. You can select one of  
four curve-fitting models:*  
Linear Curve Fit  
Exponential Curve Fit  
y
y
Mx  
x
x
Logarithmic Curve Fit  
Power Curve Fit  
y
y
M
x
x
The exponential, logarithmic, and power models are calculated using  
*
transformations that allow the data to be fitted by standard linear regression.  
The equations for these transformations appear in appendix B. The  
logarithmic model requires positive x-values; the exponential model requires  
positive y-values; and the power curve requires positive x- and y-values.  
10: Running Total and Statistics 133  
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To do curve fitting and forecasting :  
1. Enter the data into two SUM lists: one for the x-values and one for the  
y-values. Make sure each list has the same number of items so that the  
items are in matched pairs.  
2. From the SUM menu, press to display a menu  
of SUM-list names. The current list is labeled unless named  
otherwise.  
3. Press a menu key to select a list of x-values (independent variable).  
4. Select a list of y-values (dependent variable).  
5. Now you see the FRCST menu. Whichever curve-fitting model was  
used last is named in the display. If you want to select a different  
model, press and then the menu key for the model.  
,
6. To calculate the curve-fitting results, press, , and  
.  
7. To forecast (estimate) a value:  
a. Key in the known value and press the menu key for that variable.  
b. Press the menu key for the variable whose value you want to  
forecast.  
Example: Curve Fitting. BJ’s Dahlia Garden advertises on a local radio  
station. For the past six weeks, the manager has kept records of the  
number of minutes of advertising that were purchased, and the sales for  
that week.  
134 10: Running Total and Statistics  
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Number of Minutes  
of Radio  
Dollar Sales  
(y-values,  
SALES)  
Advertising  
(x-values,  
MINUTES)  
Week 1  
Week 2  
Week 3  
Week 4  
Week 5  
Week 6  
2
1
3
5
5
4
$1,400  
$ 920  
$1,100  
$2,265  
$2,890  
$2,200  
BJ’s wants to determine whether there is a linear relationship between  
the amount of radio advertising and the weekly sales. If a strong  
relationship exists, BJ’s wants to use the relationship to forecast sales. A  
graph of the data looks like this:  
y
(forecasted)  
3,000  
2,000  
SALES in Dollars  
1,000  
B
x
0
1
2
3
4
5
6
7
of Advertising  
10: Running Total and Statistics 135  
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Keys:  
Display:  
Description:  
Displays current SUM list  
and SUM menu keys.  
Clears current list.  
@c  
  
2
Stores minutes of  
advertising (x-values) into  
a SUM list.  
I
1
I
3
I
5
I
5
I
4
  
  
  
I
e
MINUTES  
Names this list. (See page  
30 to use the ALPHA  
menu.)  
  
I
Now enter and name the second list.  
   
  
Gets a new, empty list.  
Stores weekly sales  
(y-values) into a second  
SUM list.  
1400  
I
920  
I
1100  
I
2265  
I
2890  
I
2200  
  
I
  
  
  
e
SALES  
Names y-list.  
I
  
Identifies the lists for  
   curve-fitting.  
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  
   Selects MINUTES as x-list,  
  
 *  
SALES as y-list, indicates  
current curve-fitting  
model, and displays  
FRCST menu.  
  
Correlation coefficient for  
linear model.  
The correlation coefficient calculated above is acceptable to BJ’s. Using  
the linear model, estimate what the level of sales would be if the  
business purchased 7 minutes of advertising time per week.  
  
7
  
Stores 7 in variable  
MINUTES.  
  
  
Forecasts the sales  
resulting from 7 minutes of  
radio advertising.  
How many minutes of advertising should BJ’s buy if it wants to attain  
sales of $3,000?  
  
3000  
  
The business should buy  
about 6 minutes of  
advertising for sales of  
$3,000.†  
  
 
If the model named here is not the one you want to use, press  
and select the one you want.  
*
This result is not the same as it would be if SALES were the independent (x)  
variable, and MINUTES were the dependent (y) variable.  
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Weighted Mean and Grouped Standard Deviation  
Data in one list (x) can be weighted or grouped (by frequency) by data  
in another list (y). To find the mean of weighted data and the standard  
deviation of grouped data:  
1. Enter the data values—the x-variable—into a SUM list.  
2. Enter the corresponding weights or frequencies—the y-variables—  
into another list. (To calculate G.SD, the y-values should be integers.)  
3. From the SUM menu, press to display a menu  
of SUM-list names. The current list is unless named otherwise.  
4. Press the menu key for the list of x-values.  
5. Now select the list with the weights (or frequencies) (y).  
6. To calculate the weighted mean, press .  
7. To calculate the grouped standard deviation, press .  
Example: Weighted Mean. A survey of 266 one-bedroom rental  
apartments reveals that 54 of them rent for $200 per month, 32 for  
$205, 88 for $210, and 92 for $216. What is the average monthly  
rent and its standard deviation?  
Create two SUM lists. The first, called RENT, should contain the numbers  
200, 205, 210, and 216, in that order. The second can be unnamed  
and should contain the numbers 54, 32, 88, and 92, in that order.  
Keys:  
Display:  
Description:  
Clears current list or gets a  
new one.  
@c  
or  
   
  
200  
Stores rents into a list.  
I
205  
I
210  
I
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216  
  
I
  
Names this list RENT. (See  
page 30 to use the ALPHA  
menu.)  
e
RENT  
I
  
   
  
Gets a new, empty list.  
Stores frequencies into  
second list.  
54  
I
32  
I
88  
I
92  
  
I
  
Displays names of all  
SUM lists.  
e
  
    
  
   Specifies RENT as the  
x-list.  
  
Specifies the current,  
unnamed list as the y-list  
and then displays the  
FRCST menu. (Ignore  
model type.)  
  
  
  
Average monthly rent.  
Standard deviation of the  
rents.  
Summation Statistics  
The summation values are of interest if you want to perform other  
statistical calculations besides those provided by the calculator. To find  
Σx, Σx2, Σy, Σy2, Σ(xy), and n, the number of elements in either list:  
1. Display the FRCST menu and select the x- and y-lists as explained in  
steps 1-4 of the instructions on page 134. To find the summation  
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statistics for just one list of data, specify the same list for both x and y.  
2. To see n, press .  
3. Press again to display the summation menu, and press the  
menu label for the value you want.  
Doing Other Calculations with SUM Data  
If you would like to do other statistical calculations with SUM data  
besides those in the CALC menu, you can do so by writing your own  
Solver equation. There are Solver functions that can access data stored  
in SUM lists, and there is a summation function that can combine all or  
part of the values stored in specific lists.  
Refer to “Accessing CFLO and SUM Lists from the Solver” in chapter 12.  
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11  
Time, Appointments, and  
Date Arithmetic  
The calculator contains a clock and calendar in the TIME menu. You can  
select a 12-hour or 24-hour clock, and a month-day-year or day-  
month-year calendar. You can:  
Record appointments that set alarms with optional messages.  
Determine the day of the week for a particular date.  
Calculate the number of days between two dates using the 360-day,  
the 365-day, or the actual calendar.  
Viewing the Time and Date  
To view the time and date, press in the MAIN menu.  
If you overwrite the time and date, you can restore them to the display  
by pressing  
.
C
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The TIME Menu  
FIN  
BUS  
SUM  
TIME SOLVE CURRX  
CALC  
APPT  
ADJST  
SET  
APT1 APT2  
APT10  
Table 11-1. The TIME Menu Labels  
Description  
Menu Label  
Displays the CALC menu, for calculating the day of  
the week and other date arithmetic.  
Displays the APPT menu for setting and viewing  
appointments.  
Displays the ADJST menu for adjusting the clock  
setting.  
Displays the SET menu for setting the time and date,  
and for selecting the time and date formats.  
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Setting the Time and Date (SET)  
Table 11-2. The SET Menu Labels  
Menu Label  
Description  
Sets the date to the displayed number (MM.DDYYYY  
or DD.MMYYYY).  
Sets the time to the displayed number (HH.MMSS).  
Switches between AM and PM (12-hour clock).  
Switches between month/day/year and  
day.month.year formats.  
Switches between 12-hour and 24-hour clock  
formats.  
Displays the formats for entering the clock’s date and  
time.  
To set the time:  
1. Press to display the SET menu.  
2. Key in the correct time in the current format ( or  
indicates the  
12-hour clock). For example, for 9:08:30 p.m. enter 9.0830 in a  
12-hour clock or 21.0830 in a 24-hour clock.  
3. Press to set the new time.  
4. For 12-hour format: press to switch between AM and PM.  
To set the date:  
1. Key in the correct date in the current format. For example, for April 3,  
2003 enter 4.032003 in month/day/year format or 3.042003 in  
day.month.year format.  
2. Press .  
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Example: Setting the Date and Time. Set the date and time to April 5,  
2003, 4:07 p.m.  
Keys:  
Display:  
Description:  
Displays SET menu.  
Sets date.  
4.052003  
  time  
4.07   
Sets time. Press if  
  
necessary.  
 xx  
Changing the Time and Date Formats (SET)  
Use the SET menu to change the time and date formats. To switch  
between the 12- and 24-hour clocks, press . To switch between  
the month/day/year and day.month.year calendars, press .  
Adjusting the Clock Setting (ADJST)  
The ADJST menu adjusts the time setting forward or backward in  
increments of hours, minutes, or seconds.  
1. Press .  
2. Press the appropriate menu key(s) until the correct time is displayed.  
For example, if the current time setting is 11:20:xx AM (ignoring  
seconds), pressing twice changes the time to 1:20 PM. Then,  
pressing three times changes the time to 1:17 PM.  
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Appointments (APPT)  
You can record up to ten appointments, each with an alarm. An  
appointment can contain a message. You can also create repeating  
appointments—appointments that recur at regular intervals.  
APPT  
APT1 APT2  
MORE  
APT9 APT10  
for each appointment  
DATE TIME A/PM MSG RPT  
HELP  
Viewing or Setting an Appointment (APT1-APT10)  
Table 11-3. Menu Labels for Setting Appointments  
Menu Label  
Description  
Sets the appointment date.  
Sets the appointment time, and automatically  
enters the current date (if the existing appointment  
date was in the past).  
Sets AM or PM for 12-hour clock.  
Displays the ALPHA menu and any existing  
message.  
Displays the existing repeat interval and the menu  
for changing the repeat interval.  
Displays the format for entering the date and time.  
Before setting an appointment, you must set the current date and time.  
(refer to “Setting the Time and Date (SET)” on page 143.)  
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To set an appointment or view its current setting:  
1. Press , then . The display tells you which appointments  
(numbered 1-10) are set and which are past due (expired with  
unacknowledged alarms).  
Pressing displays the status and menu labels for appointments  
6 through 10.  
2. Press a menu key—through . The display shows the  
current appointment, if any, and the menu labels for setting  
appointments.  
3. Optional: press  
to remove any old information.  
@c  
Appointment number  
Menu for setting  
appointments  
Message  
Repeat interval  
4. Setting the appointment time: Use 12-hour or 24-hour time, as  
appropriate. Key in the time as a number in the form HH.MM. For  
example, 2:25 p.m. would be 2.25 (12-hour format) or 14.25  
(24-hour format). Press The date is automatically set to the  
.
current date if the existing date is in the past or was cleared.  
For 12-hour format: press to switch between AM and PM.  
5. Setting the appointment date: Key in the date in the current date  
format. For example, enter October 4, 2003 as 10.042003  
(month/day/year format) or 4.102003 (day.month.year format).  
Press . If the appointment is within a year from today, you can  
omit the year.  
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6. The appointment message (optional): To set, change, or just view a  
message, press . Type the message (refer to page 30 for using  
the ALPHA menu). Messages are limited to a maximum of 22  
characters. Press  
when done. (Press  
to negate any  
I
e
changes and retain the original message.)  
7. The repeat interval (optional): To set, view, or change a repeat  
interval, press . Key in an integer and press the appropriate  
key. For example, 2 causes the appointment to go off at the  
same time every other day; 90 sets the repeat interval to 1½  
hours. sets the appointment to non- repeating. You can  
specify repeat intervals up to 104 weeks in length (728 days, 17,472  
hours, etc.)  
8. When done, press  
to return to the APPT menu. The appointment  
e
you just set will be recorded, such as  
You can check an  
  
appointment by pressing its menu key (such as ).  
restores an appointment’s time and date to the display if it has  
C
been overwritten by other operations.  
Acknowledging an Appointment  
To acknowledge the appointment and clear the message, press any key  
(except ) during the beeping. Appointments not acknowledged within  
@
20 seconds become past due.  
When an appointment “comes due,” the alarm starts beeping and the  
alarm annunciator (  
The message (or, if none, the time and date) is displayed.  
) is displayed, even if the calculator was off.  
*†  
If the calculator is in the middle of a complex calculation when an  
appointment comes due, the alarm annunciator comes on and the calculator  
beeps once. When the calculation is done, the alarm goes off.  
*
The beeping can be suppressed or restricted to appointments. See “Beeper  
On and Off,” page 36.  
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Unacknowledged Appointments  
An appointment not acknowledged during its alarm becomes past due.  
The alarm annunciator remains on.  
To acknowledge a past-due appointment:  
1. Press .  
2. Press the menu key for the past-due appointment.  
3. Press  
to return to the APPT menu. The acknowledged  
e
appointment is no longer listed as past due.  
A repeating appointment is deactivated while it is past due and will not  
go off subsequently until the past-due appointment has been  
acknowledged.  
Clearing Appointments  
To cancel an appointment or to get rid of a repeating appointment, you  
need to clear the appointment. Clearing changes the date and time to  
00/00/00, 12:00 AM, and removes the message and the repeat  
interval.  
To clear an appointment, press the menu label for that appointment and  
press  
@c  
To clear all ten appointments, display the APPT menu (the menu with  
, etc.) and press  
.  
@c  
Example: Clearing and Setting an Appointment. Today is Sunday,  
April 20, 2003. You want to set appointment #4 to go off every  
Tuesday at 2:15 p.m. to remind you of a staff meeting. Assume 12-hour  
time format and month/day/year date format.  
Keys:  
Display:  
Description:  
  
Displays setting for  
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appointment #4.  
   Clears appt. #4.  
@c  
2.15   
   
Stores appt. time and  
supplies current date.  
Sets appt. time to PM.  
   
   
   
   
4.22   
Stores appt. date.  
   
Enters message: “staff”.  
STAFF  
   
I
   
  
   
   
Displays RPT menu.  
Sets repeat interval.  
1   
   
Returns to APPT menu  
Appt. 4 is “set.”  
e
  
Date Arithmetic (CALC)  
The CALC menu performs date arithmetic:  
Determines the day of the week for any date.  
Determines the number of days between dates using one of three  
calendars—actual, 365-day, or 360-day.  
Adds or subtracts days from a date to determine a new date.  
The calendar for date arithmetic runs from October 15, 1582 to  
December 31, 9999.  
To display the CALC menu, press , then .  
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Table 11-4. CALC Menu Labels for Date Arithmetic  
Menu  
Description  
Label  
Stores or calculates a date. Also displays the day of  
the week. If you omit the year, the calculator uses the  
current year.  
Stores or calculates the number of actual days  
between DATE1 and DATE2 , recognizing leap years.  
Calculates the number of days between DATE1 and  
DATE2 using the 360-day calendar (30-day months).  
Calculates the number of days between DATE1 and  
DATE2, using the 365-day calendar, ignoring leap  
years.  
A shortcut: recalls the current date, which can then be  
stored in DATE1 or DATE2.  
The calculator retains the values for the TIME CALC variables DATE1,  
DATE2, DAYS until you clear them by pressing  
while the  
@c  
CALC menu is displayed.  
To see what value is currently stored in a variable, press  
menu  
R
label.  
Determining the Day of the Week for Any Date  
To find the day of the week for any date, key in the date and press  
or .  
Calculating the Number of Days between Dates  
To calculate the number of days between two dates:  
1. Key in the first date (for today’s date, use ) and press .  
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2. Key in the second date and press .  
3. Press , , or to calculate the number of days  
using that calendar.  
Example: Calculating the Number of Days between Two Dates. Find  
the number of days between April 20, 2003 and August 2, 2040, using  
both the actual calendar and the 365-day calendar. Assume the date  
format is month/day/year.  
Keys:  
Display:  
Description:  
  
4.202003  
Displays CALC menu.  
Stores Apr. 20, 2003  
as first date and  
displays its day of the  
week.  
  
   
8.022040  
Stores Aug. 2, 2040 as  
second date.  
  
   
   
  
Calculates actual  
number of intervening  
days.  
  Calculates number of  
intervening days by a  
365-day calendar.  
Calculating Past or Future Dates  
To calculate a date a specified number of days from another date:  
1. Key in the known date (for today’s date, use ) and press  
.  
2. Key in the number of days. This number should be negative if the  
unknown date precedes the known date. Press .  
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3. Press .  
This calculation always uses the actual calendar.  
Example: Determining a Future Date. On February 9, 2003, you  
purchase a 120-day option on a piece of land. Determine the expiration  
date. Assume the date format is month/day/year.  
Keys:  
Display:  
Description:  
  
2.092003  
Displays CALC menu.  
Stores Feb. 9, 2003.  
  
   
  
120   
Stores number of days into  
the future.  
  
  
Calculates expiration date  
(DATE2).  
   
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12  
The Equation Solver  
The Equation Solver (the SOLVE menu) stores equations that you enter  
and creates menus for them. You can then use those menus to do  
calculations. Enter Solver equations in algebraic form regardless of the  
calculation mode (ALG or RPN).  
The Solver can store many equations—the number and length of  
equations is limited only by the amount of memory available. The  
equations are stored in a list.  
FIN  
BUS  
SUM  
TIME SOLVE CURRX  
CALC  
EDIT  
DELETE  
NEW  
Solver Example: Sales Forecasts  
Suppose part of your job includes making sales forecasts, and that these  
forecasts are revised based on new information. For instance,  
A change in the price of the product will affect sales by a forecasted  
percentage, A%.  
A change in sales-force training will affect sales by a forecasted  
percentage, B%.  
A competitor’s new product will affect sales by a forecasted  
percentage, C%.  
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Regardless of how you do this calculation (even if you do it longhand),  
you are using an equation:  
Next Forecast = Old Forecast + Change in Old Forecast  
= Old Forecast + (Projected Percentage Changes  
xOld Forecast)  
or:  
NEXT = OLD + ((A% + B% + C%) ÷ 100 x OLD)  
Using the SOLVE and ALPHAbetic menus, you can type in this equation  
as  
  
and then automatically create this menu—which contains all the  
variables’ labels—by pressing  
:*  
I
Each menu label represents a variable. You can use them to store and  
calculate values the same way you use other menus and their built-in  
variables.  
Entering a Solver Equation. To type this equation, you must use the  
ALPHA menu. If you are not familiar with the ALPHAbetic menu, refer to  
“ Typing Words and Characters ” on page 30.  
Keys:  
Display:  
Description:  
     
Displays SOLVE menu,  
then ALPHA menu.  
  
NEXT  
OLD  
The equation is too long  
=
Because the Solver uses arithmetic priority ( , before  
,
), a second set of  
*
   
   
parentheses (before A% and after the second OLD) is not necessary. See  
“Order of Calculations,” page 165.  
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A
for the display.  
+( %+  
B
C
%+ %  
100  
)/ *  
OLD  
  
  
Enters equation into list.  
I
  
  
   
Controls view of full  
equation.  
    
  
  
Displays SOLVE menu.  
e
  
  
Calculating with the Solver. Suppose last month’s forecast for a  
product was 2,000 units. In the meantime, three market changes have  
occurred that affect this forecast. A) The price of the product has  
dropped, causing an expected 20% increase in sales. B) A major  
sales-force training program started, causing an expected 5% increase  
in sales. C) A competitor is introducing a new product, causing an  
expected 15% drop in sales. Calculate the new forecast for next month.  
Menu Label:  
Display:  
Description:  
  
  
Verifies that equation is  
valid; creates Solver menu  
with menu labels for this  
equation.  
2000   
  
  
Stores old forecast.  
Stores effect of price drop  
on sales.  
20  
  
5
  
Stores effect of sales-force  
training on sales.  
  
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  
15  
Stores effect of  
&
  
competitor’s new product  
on sales.  
Calculates new forecast  
for next month.  
  
Suppose your boss wants next month’s forecast to be 2,300 units. You  
can’t affect A% or C%, but you can affect B% through the sales training  
program. Determine what B% must be for NEXT to equal 2,300 units.  
All you need to do is re-enter the one value you are changing:  
Keys:  
Display:  
Description:  
2300   
  
  
  
The training program  
would need to result in a  
10% increase in sales to  
effect a new forecast of  
2,300.  
The SOLVE Menu  
If the Solver list is empty, you will see an instruction for entering an  
equation when you press :  
If the Solver list is not empty, you will see the current equation—the last  
one entered or selected.  
Pressing  
,
[]@[ @]  
,
, and  
moves you through the list.  
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Table 12-1. The SOLVE Menu Labels  
Description  
Menu  
Label  
Verifies the current equation and creates menu labels  
for it. This is necessary before doing any calculations.  
Accesses the ALPHA-Edit menu (page 31) so you can  
alter the current equation. The arrow keys move long  
equations across the display.  
Deletes the current equation or just its variables (that is,  
the space allotted in memory for the variables).  
Allows you to enter a new equation.  
While you’re working with a specific equation in the Solver, the  
equation’s own menu appears in the display. To retrieve the primary  
SOLVE menu, press  
.
e
Entering Equations  
To make an entry into the Solver list:  
1. Press  . (To insert the new entry at the bottom of the list,  
press  
.)  
@]  
2. Use the ALPHA menu to type in characters (see page 30), and use the  
regular keyboard to type in digits and arithmetic operators (+, =, yx,  
etc.). If you make a mistake, use  
to backspace or  
to start  
<
C
over. Or press  
to bring up the ALPHA-Edit menu.  
e
3. Press  
to store the equation.  
I
4. Press to verify that the equation is valid, and to create its  
menu labels. You now can proceed with your calculations.  
When you press the calculator displays:  
   
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while the Solver checks that the equation is mathematically valid.  
(However, the Solver has no way of checking whether the equation is  
the right one for your problem.) If the equation cannot be solved, the  
calculator briefly displays:  
   
and the cursor will blink at the first character that the Solver could not  
interpret. (It is possible that your mistake is somewhere else, but this is a  
good place to start looking, since this is where the Solver got stuck.) The  
ALPHA-Edit menu appears so you can make changes.  
Check to be sure you’ve made no typing mistakes, and that you’ve  
followed the rules for writing equations given on page 166 under  
“What Can Appear in an Equation.”  
An entry that is not an equation will be stored when you press  
,
I
but it cannot be verified when you press .  
Calculating Using Solver Menus (CALC)  
If pressing creates a Solver menu for your equation, then the  
equation is good (that is, mathematically valid).  
If the equation contains more than six variables, the Solver uses the label  
to switch between sets of menu labels.  
Calculator line  
Solver menu  
To test whether your equation is in fact correct, test it out by entering  
some values for which you already know the result, and see if the  
Solver’s result is correct.  
To do a calculation using a Solver menu:  
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1. Store values in all but one of the variables (for example, 2000  
etc.). Remember that you can verify stored values by pressing  
,
menu label.  
R
2. To start the calculation, press the menu key for the variable you want  
to calculate.  
In most cases, this is all you need to know about how the Solver works.  
However, certain types of equations are more difficult to solve.  
If, during the calculation, the display temporarily shows two lines of  
changing numbers, such as  
  
  
  
  
then the Solver is searching for a result for the variable A. Read the  
section, “How the Solver Works,” starting on page 179.  
Example: Return on Equity. The Return on Equity of a business can be  
defined as:  
Operating income Interest Taxes  
ROE=  
Common equity  
Find the ROE of a small firm with $2,000 in assets. The assets earned  
10% while its debt cost it 8%. The assets were financed using $500 of  
common equity and $1,500 of debt. The firm paid no taxes.  
Operating incomeassets × percentage earnings on assets  
  
Interestdebt × percentage interest paid on debt  
  
Common equityamount of common equity used for financing  
  
The Solver equation would be:  
  
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Keys:  
Display:  
Description:  
Restores MAIN menu.  
Displays ALPHA menu.  
@A  
   
   
  
ROE  
Entering the equation.  
=
ASSET  
( *  
ERN  
%
DEBT  
- *  
INT  
%
TAX  
- )  
EQTY  
  
  
/
 Stores the equation.  
I
  
Verifies the equation and  
displays the menu labels  
for ROE, ASSET, %ERN,  
DEBT, %INT, and (press  
) TAX and EQTY.  
Stores the values for the  
assets, the percentage  
earnings on assets, the  
amount of debt, the  
percentage interest paid  
on the debt, the taxes  
paid, and the common  
equity.  
2000  
10  
  
  
  
  
  
  
1500  
8
  
  
0
  
  
500  
  
  
   
The return on equity is  
16%.  
  
  
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Editing an Equation (EDIT)  
If you have an  
, the cursor stops over the first  
   
character that the Solver could not logically interpret.  
You can alter the current equation using the ALPHA-Edit menu:  
1. Press to access the ALPHA-Edit menu. (See “Editing  
ALPHAbetic Text,” page 31.) You can use  
(clear), as well.  
(backspace) and  
<
C
2. To insert letters, press and the appropriate letters. Press  
e
to bring back the editing menu.  
3. Press  
to replace the previous version with the edited version.  
I
Editing an equation clears its variables.  
To abort an editing operation without saving any of the changes, press  
.
e
Naming an Equation  
Naming equations helps you identify them later. The name precedes the  
equation, separated by a colon. If you don’t name an equation initially,  
you can name it later using .  
Type the name just as you type the rest of the equation. The calculator  
knows that whatever comes before the colon is not part of the equation.  
The name is for your visual aid only; the calculator cannot recognize it.  
Names can be any length and contain any character except + - x ÷ ( )  
< > ^ : = space  
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Finding an Equation in the Solver List  
To display an entry in the Solver list, display the SOLVE menu and move  
through the list using the  
and  
keys.  
moves to  
.
   
[ ] @[  
and  
moves to  
  
    
@]  
Shared Variables  
If two or more equations contain the same variable, that variable is  
shared among those equations. For example, suppose your Solver list of  
equations includes these two equations labeled RUG, which figures the  
cost of a carpet, and TOTAL, which figures the total cost of buying a  
carpet and installing it:  
   
   
COST is a shared variable. You can calculate a value for COST using  
the RUG equation, then switch to the TOTAL equation and calculate  
CHARGE after entering HOURS. Since the value for COST is shared,  
you do not need to store it again.  
No sharing occurs between variables outside the Solver and those  
within the Solver. For example, this COST variable in the Solver is not  
shared with the COST variable in the MU%C and MU%P menus in BUS.  
To transfer values between built-in variables and Solver variables, store  
them into storage registers. Recall them after switching menus.  
Remember that the value in the calculator line stays there when you  
switch menus.  
Clearing Variables  
You can clear the variables in a Solver equation just as you clear  
variables in other menus: press  
variables is displayed.  
while the menu with those  
@c  
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Make sure that the menu for the variables is in the display. (The  
equation itself should not be in the display. If it is, press .)  
Pressing  
now sets NEXT; OLD, A%, B%, and C% to zero.  
@c  
Variables are also cleared when their equation is edited.  
If the SOLVE menu is displayed (rather than the SOLVE CALC  
menu), then pressing  
will prompt  
   
@c  
. Press , otherwise you will lose the  
variables in all the equations. (See “Deleting All Equations or  
  
Note  
Variables in the Solver,” page 164.)  
Deleting Variables and Equations  
Each equation in the Solver list uses calculator memory to store 1) itself,  
and 2) its variables.*  
Deleting a variable is quite different from clearing it:  
Clearing a variable sets it to zero; the variable retains its storage  
location in memory. This does not save memory space.  
Deleting a variable erases its value and its storage location. This is a  
way to save memory space. If a variable is shared, its value is lost to  
all equations that share it. The memory space for a deleted variable is  
re-created the next time you use that equation.  
An equation that has not been verified (  
pressed) does not have any  
*
variables allocated to it. Therefore, it has no variables to be cleared or  
deleted.  
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Deleting One Equation or Its Variables (DELET)  
To delete an equation or its variables:  
1. Display the equation.  
2. Press in the SOLVE menu.  
3. To delete the equation, respond to both questions:  
    
    
(If the entry has no variables allocated, then only the second question  
appears.)  
4. To delete just the variables, respond to  
. This preserves the equation.  
    
Deleting All Equations or All Variables in the Solver  
(
)
@c  
To delete all the equations in the Solver, or just all the variables in all the  
equations:  
1. Display the SOLVE menu. It doesn’t matter which equation is  
displayed.  
2. Press  
. To delete all equations, respond to both  
@c  
questions:  
    
    
3. To delete just the variables, respond to  
. This preserves all equations.  
    
Writing Equations  
An equation in a book looks different from an equation in the Solver. A  
numerator and denominator might be separated by a bar, such as  
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a +b +c  
d e×f  
Since a Solver equation appears all on one line, you must group the  
numerator and denominator separately by using parentheses, such as  
  
Order of Calculations. Operations occur from left to right but do:  
Exponentiation first. For example,  
is interpreted as A ×  
  
B3 = C. B is raised to the 3rd power and then multiplied by A. To  
raise A × B to the 3rd power, write the equation as  
.
  
Multiplication and division before addition and subtraction. For  
example, is interpreted as A + ( B/C ) = 12. To divide  
  
the sum of A + B by C, enter the equation as  
.
  
Parentheses. Parentheses override the above rules of priority. When in  
doubt, use parentheses. It never hurts to use parentheseseven multiple  
parentheses. (Do not use brackets or braces.)  
For example, earlier (page 154) we used the equation  
A% + B% +C% × Old Forecast   
(
)
Next ForecastOld Forecast +  
,
100  
which was entered into the calculator as  
.
  
A
B × C  
would be entered as  
  
B × C  
D × E  
A +  
could be entered as  
  
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B × C  
(D + 5) × E  
A +  
could be entered as  
  
What Can Appear in an Equation  
Long Equations. There is no limit on the length of an equation (or the  
number of variables it has) if there is enough memory to store it. An  
equation longer than one display line (22 characters) moves to the left  
and adds an ellipsis (...).  
To view a long equation, move the cursor using the arrow keys on the  
ALPHA-Edit menu. For example:  
  
looks like  
  
when it is stored. Press   to view successive  
portions of the equation:  
  
Spaces. You can use as many spaces as you like between variables,  
operators, and numbers.  
Names of Variables. A variable’s name can be up to 10 characters  
long, but cannot contain the characters + - x ÷ ^ ( ) < > = : space  
The first three to five characters (depending on their widths) become the  
variable’s menu label. Therefore, make sure no two variables in the  
same equation have the same first three to five characters.  
Do not use AND, NOT, OR, XOR, or PI as variable names because they  
will be interpreted as functions.  
Numbers (Constants). Do not put commas or other characters in  
numbers. For instance, type  
for ten thousand (not  
).  
  
  
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Parentheses. Do not use brackets or braces. Parentheses determine  
order, but do not imply multiplication. For example, the equation Psn =  
Ps (1F) would be typed into the Solver as  
. The ×  
  
sign must be inserted between  
and the parenthesis.  
  
Functions and Conditional Expressions. An equation can contain any  
of the functions and conditional expressions given in the table on pages  
168-171. Some of these functions also have typing aids.  
Math Operators (“Typing Aids”). All of the math operators are located  
either on the keyboard (  
, etc.). Any of these operators except  
,
, etc.) or in the MATH menu ( ,  
/@t  
can be included in an  
%
equation. (In the Solver,  
is just a character.) You can call up the  
MATH menu from the Solver.  
Many of these operators look different in an equation: pressing  
@v  
produces  
, for example. You then supply a number or variable  
  
followed by a closing parenthesis. The list of Solver functions on pages  
168-171 shows the spelling of each function. Note that you supply the  
number after supplying the function.  
You can also type these functions letter by letter using the ALPHA menu.  
However, it is faster to select math operators directly on the keyboard or  
in the MATH menu. This is called a typing aid.  
For instance, these two methods of placing 25! (factorial) into an  
equation are equivalent. Starting after  :  
1. Using the ALPHA Menu  
Keys:  
Display:  
Description:  
  
  
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  
  
25  
( )=  
  
This calculates 25!  
(factorial).  
  
2. Using a Typing Aid  
Keys:  
Display:  
Description:  
MATH menu labels  
appear.  
@m  
   
  
The ALPHA menu  
automatically returns after  
one MATH selection.  
25  
  
)=  
This also calculates 25!,  
and with fewer  
  
keystrokes.  
Solver Functions  
Here is a complete list of functions that you can include in Solver  
equations. The items inside parentheses must be replaced by specific  
numbers, variables, or algebraic expressions.  
In addition, you can use the arithmetic operators (, , x, ÷ , yx), but  
not  
. (In the Solver, is just a character, not an operator.)  
%
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Table 12-2. Solver Functions for Equations  
Function Description  
ABS(x)  
Absolute value of x.  
ALOG(x)  
Common (base 10) antilogarithm;  
10x.  
CDATE  
CTIME  
DATE(d1:n)  
Current date.  
Current time.  
The date n days after (when n is  
positive) or before (when n is  
negative) date d1. The format for d1  
is set in the TIME/SET menu.  
Number of days between dates d1  
and d2. Formats for d1 and d2 are  
set in the TIME menu; cal designates  
the calendar:  
DDAYS(d1:d2:cal)  
cal 1 for the actual calendar,  
which recognizes leap years.  
cal 2 for the 365-day  
calendar, which ignores leap  
years.  
cal 3 for the 360-day  
calendar, which uses 12, 30-day  
months.  
EXP(x)  
EXPM1(x)  
FACT(x)  
Natural antilogarithm; ex.  
ex1.  
x!; factorial of a positive integer.  
FLOW(CFLO-listname:flow#) Value of the specified cash flow.  
FP(x)  
G(x)  
Fractional part of x.  
Returns (Get) the value of the variable.  
The variable will not appear in the  
SOLVE menu if it is only used in L and  
G functions. See L function on page  
170.  
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Table 12-2. Solver Functions for Equations (Continued)  
Function  
HMS(time)  
Description  
Converts time in decimal hours to  
HH.MMSS format.  
Converts time in HH.MMSS format to  
decimal hours.  
HRS(time)  
IDIV(x:y)  
IF(cond:expr1:expr2)  
Integer part of the quotient of x/y.  
Conditional expression: if cond is true, use  
expr1; if cond is false, use expr2. See page  
174.  
Greatest integer less than or equal to x.  
INT(x)  
INV(x)  
IP(x)  
Inverse of x; 1/x.  
Integer part of x.  
ITEM(SUM-listname:item#) Value of the specified SUM-list item.  
Store the value of expr in the variable x.  
The variable will not appear in the SOLVE  
menu if it is only used in L and G functions.  
This is useful if you have a complex  
L(x:expr)  
expression that uses the same sub  
expression multiples times for example:  
(1+i)^N x PV+((1–(1+i)^N)/(1–(1+i))) x PMT+FV  
It can be written:  
  
  
.
  
LN(x)  
Natural (base e) log of x.  
In (1 + x)  
LNP1(x)  
LOG(x)  
MAX(x:y)  
Common (base 10) log of x.  
Compares x and y, and returns the larger  
of the two.  
Compares x and y, and returns the smaller  
of the two.  
MIN(x:y)  
Remainder of the division x/y. MOD(x,y) =  
MOD(x:y)  
xy x INT(x/y)  
PI  
π ; 3.14159265359 (12 digits).  
Rounds x to y decimal places if 0 y 11,  
or rounds x to y significant digits if 12 ≤  
y 1. y must be an integer.  
RND(x:y)  
Used in an IF function to test if solving for  
the variable named. Used to combine  
related equations into one Solver menu.  
See page 178.  
S(variable name)  
Sign of x (1 if x>0, 0 if x0,1 if x<0.  
SGN(x)  
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Table 12-2. Solver Functions for Equations (Continued)  
Function  
Description  
Σ(cfr:c1:c2:s:expr)  
Summation of the algebraic expression  
expr for values of the counter ctr,  
stepping from c1 to c2 at increments of s.  
See page 176.  
SIZEC(CFLO-listname)  
SIZES(SUM-listname)  
SPFV(i%:n)  
The number of the last flow in specified  
CFLO list.  
The number of items in specified SUM  
list.  
Future value of a single $1.00 payment;  
equivalent to (1 + i% ÷ 100)n. n is the  
number of compounding periods. i% is  
the interest rate per compounding  
period, expressed as a percentage.  
Present value of a single $1.00  
payment; equivalent to 1 ÷ SPFV(i%:n).  
n is the number of compounding  
periods. i% is the interest rate per  
compounding period, expressed as a  
percentage.  
SPPV(i%:n)  
SQ(x)  
Square of x ; x2.  
SQRT(x)  
#T(CFLO-listname:flow#)  
Square root of x ;  
.
X
The number of times that specified cash  
flow occurs.  
Truncates x to y decimal places if 0 y  
11, or truncates x to y significant digits  
if 12 y 1. y must be an integer.  
Future value of a uniform series of  
$1.00 payments; equivalent to  
(SPFV(i%:n)1) ÷ (i% ÷100). n is  
number of payments. i% is periodic  
interest rate, expressed as a  
TRN(x:y)  
USFV(i%:n)  
percentage.  
Present value of a uniform series of  
$1.00 payments; equivalent to  
USFV(i%:n) ÷ SPFV(i%:n). n is number of  
payments. i% is periodic interest rate,  
expressed as a percentage.  
USPV(i%:n)  
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Example Using a Solver Function (USPV): Calculations for a Loan  
with an Odd First Period. Suppose an auto purchase is financed with a  
$6,000 loan at 13.5% annual interest. There are 36 monthly payments  
starting in one month and five days. What is the payment amount?  
Use the following formula when the time until the first payment is more  
than one month but less than two months. Interest for this odd  
(non-integer) period is calculated by multiplying the monthly interest by  
the number of days and dividing by 30.  
The formula for this loan is:  
N  
ANNI  
1200  
ANNI  
1200  
1 1 +  
ANNI  
1200  
DAYS  
30  
PV 1 +  
×
+ PMT  
= 0  
where:  
ANNIthe annual percentage interest rate.  
Nthe number of payment periods.  
DAYSthe number of leftover, odd days (an integer from 0 through  
30).  
PVthe amount of the loan.  
PMTthe monthly payment.  
The formula can be rearranged and simplified using USPV, the Solver  
function for returning the present value of a uniform series of payments:  
  
  
The keystrokes are:  
PV  
1
ANNI  
1200  
DAYS  
30  
*( + / * / )  
PMT  
+ * ( / )=  
USPV  
ANNI  
12:N  
0
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Keys:  
Display:  
Description:  
   Displays SOLVE menu and  
@]  
bottom of Solver list.  
   
Displays ALPHA menu.  
  
(type in  
Remember that the colon is  
equation as  
located after.   
shown above)  (Press   )  
  
  
Enters equation, verifies  
it, and creates menu.  
Stores loan amount in  
PV.  
I
6000   
  
13.5  
  
  
  
Stores annual percent interest  
in ANNI.  
5   
36   
Stores number of odd days in  
DAYS.  
Stores number of payments in  
N.  
  
Calculates monthly PMT of  
$203.99.  
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Conditional Expressions with IF  
Equations can include conditional expressions using the function IF. The  
syntax of the IF function is:  
IF conditional expression algebraic expression algebraic expression  
then  
or else  
For example, the solver accepts the equation:  
      
According to this equation, if SALES is greater than 3000, then the  
BONUS equals .02 × SALES; otherwise (“or else”), BONUS equals  
.01 × SALES.  
Logical Operators. Four logical operators can be used in conditional  
expressions: AND, OR, XOR, and NOT.  
Relational Operators. Six relational operators are available for  
conditional expressions.  
Operator  
Keys  
(ALPHA menu)  
(ALPHA menu)  
=
=
=
   
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Examples of Conditional Equations.  
=
     
Means: If A is greater than 7 and is less than or equal to 15, then  
B2 x A ÷ 6C. Otherwise, B3 x A10C.  
    
Means: If FIRST is not equal to 0, then  
VALUEFIRST1 ÷ FIRST. If FIRST0, then VALUEFIRST.  
      
Means: If A or B, but not both, equals 0, then TW x (A + B).  
Otherwise, T = W x A x B. In other words,  
When A0 and B0, TW x B.  
When A0 and B0, TW x A  
When A0 and B0, T0.  
When A0 and B0, TW x A x B.  
Example: Nested IF Functions. An IF function can be used as the  
argument of another IF function. This is called nesting. Suppose a  
corporation uses a rating system to determine salary. Employees are  
rated on a scale from 1 through 3, and are given the following annual  
percent raise based on their rating:  
Rating  
Percent Salary Increase  
1
2
3
3%  
6%  
10%  
The Solver equation to calculate an employee’s new salary is based on  
his or her rating and old salary. What would be the new annual salary  
for an employee with a rating of 2 who currently earns $27,500  
annually?  
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Press  , then enter the equation:  
  
To do the calculation:  
Keys:  
Display:  
Description:  
Stores, verifies, and  
creates menu labels for  
the equation.  
I
27500   
2   
  
  
Stores old salary.  
Stores rating.  
  
Calculates new salary.  
The Summation Function ()  
The Σ function does summation calculations in an equation:  
counter variable  
algebraic expression  
starting value  
ending value  
step size  
  
The counter variable takes on a series of values, beginning with the  
starting value, and incrementing according to the step size, until it  
passes the ending value. For each value of the counter, the algebraic  
expression is evaluated, and the value is added to the previous value.  
The Σ function returns the final summation.  
For example, when the equation:  
  
is solved for SERIES, the counter I runs from 1 through 6 in steps of one─  
that is, 1, 2, 3, 4, 5, 6. For each value I, the expression  
is  
  
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calculated and added to the sum. Thus the stored value of X is used to  
calculate X + 2X2 + 3X3 + 4X4 + 5X5 + 6X6.  
The following equation uses a variable as the ending value, 0 as the  
beginning value, and a step size of 2.  
  
If 8 is stored in LAST, I takes on values of 0, 2, 4, 6, and 8. Then the  
stored value of X will calculate 2X2 + 4X4 + 6X6 + 8X8.  
Accessing CFLO and SUM Lists from the Solver  
You can use a Solver equation to perform calculations other than those  
in the CFLO and SUM menus using data stored in CFLO and SUM lists.  
The following Solver functions gain access to these lists.  
CFLO-listname returns the number of the last flow in the  
  
specified CFLO list. For example, if the last flow in the list INV were  
, then  
would equal 6.00.  
  
  
CFLO-listname  
specified flow.  
flow number returns the value of the  
  
CFLO-listname  
flow number returns the number of times the  
  
specified flow occurs.  
SUM-listname returns the number of items in the specified  
  
SUM list.  
SUM-listname  
item number returns the value of the  
  
specified item.  
Summation of List Data. The Σ function can be used to sum calculations  
done with numbers in lists. For example, the following equation  
calculates Σxi2yi2 for values stored in two SUM lists named XVAR and  
YVAR, which must have the same number of items:  
  
  
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“Chi-Squared Statistics” in chapter 14 illustrates another use of the Σ  
function with SUM lists.  
Creating Menus for Multiple Equations (S Function)  
The S (solving for) function is used in conjunction with the IF function  
to group related equations together and to specify the criteria for  
choosing one of them to solve.  
S(variable name)  
The advantage over two separate equations is that the single equation  
gives you a single menu with all possible variables. That way, if you are  
working with two different but related problems, you can keep the same  
Solver menu labels in the display all the timeyou don’t have to switch  
equations.  
For example, consider these two equations for conversions:  
and  
  
  
The following, rearranged single equation can do either conversion:  
    
This means: if you are solving for either KG or LB, then use  
KG × 2.21LB0. Otherwise (that is, if you are solving for M or FT),  
use M × 3.28FT = 0. The two conversion equations are rewritten so  
that all the variables appear on one side of each equation, and the  
other side is set equal to zero.  
The S function appears as part of the conditional expression of the IF  
function. You can leave out the “0” and it will be understood that the  
whole equation is set equal to zero.  
Example: Unit Conversions. Use the above equation to convert  
between kilograms and pounds and between meters and feet.  
Press   then enter the equation:  
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    
Press  
to store it, then to verify it and create its menu:  
I
1. Convert 225 pounds to kilograms.  
  
  
Press 225  
Result is  
.
  
2. How many feet equal 100 meters?  
  
  
Press 100  
Result is  
  
Note that you do not have to clear variables between steps 1 and 2.  
The S function considers only those values in the part of the equation  
that it is solving.  
How the Solver Works  
The Solver has two ways of finding an answer. First, it tries to find a  
direct solution by rearranging the equation and then solving for the  
variable. If the Solver finds a direct solution, the calculator displays the  
result.  
If the Solver is unable to find a direct solution, it tries to find the answer  
indirectly by iteration. It estimates a set of answers, sees how close they  
are to a solution, and then makes another set of estimates. The  
calculator displays the Solver’s current estimates as the Solver searches  
for an answer. You should keep in mind that there might be more than  
one solution to an equation, and that it might be necessary for you to  
enter guesses to influence which solution the Solver finds. If the  
displayed estimates don’t appear to be proceeding towards a number  
you judge to be a reasonable answer, you can stop this iterative process,  
enter your own guesses, and restart the search. (See “Halting and  
Restarting the Iterative Search” and “Entering Guesses,” below.)  
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The process of finding a solution iteratively is very complex. There are  
four possible outcomes. Refer to “Solver Calculations” in appendix B for  
additional descriptions of these outcomes.  
Case 1: The calculator displays a result. It is very likely that this is a  
solution to the equation. To check how good this result is, you can  
repeat the calculation by pressing the menu key for the variable you  
solved for. If the two sides of the equation have not been calculated to  
be exactly equal, the calculator displays a message with the values  
for the left and right sides of the equation. Read “Solver Calculations”  
in appendix B for an explanation of the meaning of this display.  
Case 2: The calculator displays a message with the calculated,  
unequal values of the left and right sides of the equation. The Solver  
has found a possible solution, but you must interpret its validity. To see  
the questionable solution, press  
or  
. Refer to “Solver  
< C  
Calculations” in appendix B for more information.  
Case 3: The calculator displays  
    
. The Solver cannot begin the search with the  
    
current guesses. Press  
or  
to view the starting guesses. To  
< C  
supply new guesses, see “Entering Guesses,” below.  
Case 4: The calculator displays  
. Check  
    
to see if your equation and stored values are correct. If the equation is  
correct, you might be able to find a solution by entering very good  
guesses.  
Halting and Restarting the Iterative Search  
When the Solver is iteratively searching for a solution (in other words,  
when the Solver is displaying sets of estimates), you can halt the  
calculation by pressing any key except . The calculator displays the  
@
message  
found so far, press or  
. To see the best estimate the Solver has  
. You can restart the search from where  
  
C <  
it left off by pressing the menu key for the variable you are solving for.  
Or, you can restart the search using your own guesses (see “Entering  
Guesses,” below).  
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Entering Guesses  
Entering your own guesses serves two purposes. First, it can save time  
by telling the Solver where to start searching. Second, if more than one  
solution exists, entering guesses may lead the Solver to a solution in a  
specified range. The closer your guesses are to the desired solution, the  
better chance the Solver has of finding it.  
You can enter guesses at these times:  
Before beginning the calculation, after you’ve stored a value for every  
variable except the unknown variable. If you enter one guess, the  
Solver generates a second guess.  
After you’ve halted the iterative search.  
After the Solver has returned an answer, and you wish to begin  
searching for another answer.  
You can enter one or two guesses. If you enter one guess, the Solver  
makes a second guess. If you enter two guesses, the Solver uses those  
two guesses to start searching for a solution. The Solver works most  
efficiently when the answer is between your two guesses. For example,  
if you know the answer is between 5 and 12, you should enter 5 and  
12 as the starting guesses.  
To enter one guess, key in the value and press the menu key twice.  
For example, 4.5   enters 4.5 as a guess for a Solver  
variable named A and starts the calculation.  
To enter two guesses, key in the first guess and press the menu key. Then  
key in the second guess and press the menu key twice. For example, 0  
100   causes the Solver to search for A using 0  
and 100.  
Example: Using Guesses to Find a Solution Iteratively. One equation  
for calculating the profit from a manufacturing operation is:  
12: The Equation Solver 181  
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Profit (Price × Quantity) (Variable costs × Quantity)  
Fixed Costs  
The C-Sharp Piano Corporation sells pianos for $6,000. Variable costs  
are $4,100; fixed costs per year are $112,000. How many pianos  
must C-Sharp sell this year in order to earn a profit of $130,000? (In  
past years, C-Sharp has had to sell between 100 and 200 pianos to  
make an acceptable profit. You can use this information as initial  
guesses.)  
Press   , then enter the equation:  
      
Keys:  
Display:  
Description:  
Stores, verifies, and  
creates labels for the  
equation.  
I
6000   
  
  
Stores price.  
4100  
  
  
  
Stores variable cost,  
fixed cost, and profit.  
  
112000  
130000  
  
The following steps enter guesses for QTY. If the Solver must search  
iteratively to solve for QTY, it will begin by using the estimates 100 and  
200.  
Keys:  
Display:  
Description:  
100  
200  
  
  
  
The first guess for QTY.  
The second guess for  
QTY.  
  
182 12: The Equation Solver  
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  
Solves for QTY iteratively.  
  
  
  
  
  
12: The Equation Solver 183  
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13  
Printing  
The calculator can print information using the hp 82240 Infrared Printer,  
which accepts the infrared signal from the printer port. This chapter  
describes information you can print. Operation of the printer is covered  
in the printer owner’s manual.*  
Port  
The print annunciator (  
)appears in the display whenever the  
calculator sends information through its printer port.  
Because communication goes only one way—from calculator to  
printer—the calculator cannot determine whether the printer is receiving  
information. If a printing operation involves many lines of information,  
the calculator slows its transmission rate to allow the printer time to print.  
To preserve battery power, the calculator will not transmit data to the  
printer when the low-power annunciator (  
condition occurs after you’ve started a printing operation, printing stops  
and the calculator displays the message  
) is on. If a low-power  
.
      
Since the hp-17bII+ cannot send control characters to the printer, portions of  
the printer’s manual pertaining to control codes and graphics characters do  
not apply.  
*
184 13: Printing  
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The Printer’s Power Source  
The speed of the printer depends on whether it is using its optional ac  
adapter. To optimize printing performance, set the printing speed mode  
in the calculator appropriately. To view or change the printing speed  
mode:  
1. Press  
.
@>  
2. Press to change and display the new mode. If necessary,  
press again to set the desired mode:  
    
     
3. Press  
.
e
For long printing operations, printing will be faster using the printer’s ac  
adapter and the calculator’s appropriate printing speed mode. When  
the printer is powered by batteries alone, be sure to change the mode to  
so that the calculator will not transmit  
     
data too rapidly.  
Double-Space Printing  
Press  
press  
to turn double-space printing on or off. Then  
@>  
.
e
Printing the Display(  
)
P
To print whatever is in the calculator line, press  
. This prints  
P
numbers, expressions, single Solver equations, and messages. Menus  
cannot be printed.  
13: Printing 185  
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Printing Other Information (  
)
@p  
PRINTER  
LIST  
STK  
REGS  
TIME  
MSG  
TRACE  
The PRINTER menu provides the ability to print most of the information  
you’ve stored, including the contents of variables, lists, appointments,  
the history stack, registers, and the current date and time. You can also  
transmit descriptive notes to label the output. (To print amortization  
schedules, see “Printing an Amortization Table,” page 82.)  
From within any menu you can press  
to bring up the PRINTER  
@p  
menu. This table summarizes those printing activities.  
Table 13-1. The PRINTER Menu Labels  
Menu Label  
Description  
Prints data stored or calculated in the current menu.  
See “Printing Variables and Lists,” below.  
Prints the contents of the history stack.  
Prints the contents of registers 0 through 9.  
Prints the current date and time.  
Displays the ALPHA menu for typing a message up to  
22 characters long. See page 188.  
Switches between Trace On and Trace Off modes.  
See “Trace Printing,” page 188.  
Upon completion, all of these functions except return the  
previous menu to the display.  
Printing Variables, Lists, and Appointments (LIST)  
You can list specific sets of information stored in menus by pressing  
while the relevant menu labels are displayed.  
@p  
186 13: Printing  
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Printing the Values Stored in Variables. You can print a listing giving  
the values of all variables whose menu labels are displayed.  
For example, if the calculator is in the FIN TVM menu, it displays the  
labels      .  
Pressing  
now produces a print-out like this:  
@p  
  
  
  
  
  
  
  
  
  
  
  
   
  
Printing Number Lists. To print out the contents of a particular SUM or  
CFLO list, that list must be the current list. Pressing  
@p  
while a SUM list named SALES is the current list produces labeled output  
like this:  
   
  
  
  
  
  
  
  
  
  
  
  
  
Printing Solver Equations. To print one or all Solver equations, display  
the main SOLVE menu (press ).  
To print just the current equation, press  
.
P
To print out the entire list of equations, press  
.  
@p  
13: Printing 187  
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Printing Appointments. To print all stored appointments, display the  
menu (press then press . This  
@p  
produces a listing like this for each appointment:  
     
    
  
Menus Not Associated with Stored Data. Remember that many menu  
labels do not represent data, but rather activities, such as ,  
, and . They contain no information for printing.  
The calculator beeps if there is nothing to print when you press  
.  
@p  
Printing Descriptive Messages (MSG)  
You can include descriptive messages with your printed output by using  
. For example, suppose you wanted to print a number that  
represents the balance for September. You could start the output with the  
label “SEPTEMBER BALANCE”.  
1. Press  
, then . This brings up the ALPHA menu.  
@p  
2. Type (and edit) the label or message.  
3. Press to print out the label or message.  
I
Now print out the number itself (if it’s in the calculator line, press  
).  
P
Trace Printing (TRACE)  
Trace printing produces a record of all the keys you’ve pressed and of  
calculated results. When tracing is off, use and to print  
P @p  
what you want. When tracing is on, the calculator uses more power and  
operates more slowly.  
To switch trace printing on and off:  
1. Press  
.
@p  
188 13: Printing  
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2. Press to change the setting. A message informs you that  
tracing is on or off. If necessary, press again to display the  
desired message.  
3. Press  
.
e
Example: Trace-Printing an Arithmetic Calculation. Produce a record  
of the keystrokes you use to do the following calculation and store the  
result in the TVM variable PMT.  
1/12× 4,800 + 125  
Press  
see  
to set  
     
. If you  
     
@p  
, press again.  
Keys:  
Print-out:  
e
12  
  
  
  
   
   
@t  
*
v
4800  
   
+
v
125  
  
  
=
v
  
  
@p  
e
  
  
How to Interrupt the Printer  
Pressing a calculator key during a printing operation will interrupt  
transmission, but not immediately stop the printing.  
To stop the printer immediately, turn it off.  
13: Printing 189  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
14  
Additional Examples  
Loans  
Simple Annual Interest  
See appendix F for RPN keystrokes for this example.  
Example: Simple Interest at an Annual Rate. Your good friend needs  
a loan to start her latest enterprise and has requested that you lend her  
$450 for 60 days. You lend her the money at 7% simple annual interest,  
to be calculated on a 365-day basis. How much interest will she owe  
you in 60 days, and what is the total amount owed?  
60 days  
The interest is: (7% of $450) ×  
365 days  
Keys:  
Display:  
Description:  
v
450  
7
* %  
   
Annual interest.  
Actual interest for 60  
days.  
60  
* /  
365  
  
  
+
450  
Add principal to get total  
debt  
=
A Solver Equation for Simple Annual Interest:  
  
DEBT = the total owed at the end of the loan period.  
LOAN = the original amount (principal) lent.  
I% = the annual interest rate as a percent.  
DAYS = the number of days in the loan.  
190 14: Additional Examples  
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For instructions on entering Solver equations, see “Solving Your Own  
Equations,” on page 29.  
If you know the dates for the course of the loan, rather than the number  
of days, use this for an actual-calendar basis:  
  
or use this for a 360-day basis:  
  
DATE1 = the date the loan commences.  
DATE2 = the date the loan ends.  
Yield of a Discounted (or Premium) Mortgage  
The annual yield of a mortgage bought at a discount or premium can be  
calculated given the original mortgage amount (PV), interest rate (I%YR),  
periodic payment (PMT), balloon payment amount (if any) (FV), and the  
price paid for the mortgage (new PV).  
Remember the cash-flow sign convention: money paid out is negative,  
money received is positive.  
Example: Discounted Mortgage. An investor wishes to purchase a  
$100,000 mortgage taken out at 9% for 20 years. Since the mortgage  
was issued, 42 monthly payments have been made. The loan is to be  
paid in full (a balloon payment) at the end of its fifth year. What is the  
yield if the purchase price of the mortgage is $79,000?  
1. Since the payment amount (PMT) is not given, calculate it first. To  
do this, first assume 20 years’ amortization on the original mortgage  
with no balloon payment (so N = 20 × 12, FV = 0, PV =100,000,  
and I%YR = 9).  
2. Since the balloon amount is not given, calculate it (FV) next. Use PMT  
from step 1, but change N to 5 years (N = 5 × 12).  
14: Additional Examples 191  
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3. Finally enter current values for N (less number of payment periods  
already passed, or 5 × 1242) and PV (proposed purchase price,  
$79,000); then calculate I%YR for the annual yield.  
Step 1: Calculate PMT. Make sure FV = 0.  
Keys:  
Display:  
Description:  
   
Selects menu; sets 12  
payments per year and  
End mode.  
@c  
e
     
  
20  
Figures and stores total  
number of payments for a  
full 20-year loan with  
monthly payments.  
Stores interest rate and  
amount of original loan.  
(Money paid out is  
negative.)  
@
9   
100000  
&
  
0   
  
Sets FV to zero.  
  
Calculates monthly  
payment received.  
Step 2: Enter the new value for N given a balloon in 5 years, then find  
FV, the amount of the balloon.  
Keys:  
Display:  
Description:  
5
  
Stores number of  
payments for 5 years.  
Calculates balloon due in  
5 years.  
@
  
192 14: Additional Examples  
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Step 3: Enter actual, current values for N and PV; then find new I%YR  
for discounted mortgage with balloon.  
Keys:  
Display:  
Description:  
Stores number of  
payments remaining in  
5-year loan.  
R
42   
  
-
v
79000  
Stores proposed,  
discounted purchase price  
(new present value).  
Calculates percent annual  
yield.  
&
  
  
Annual Percentage Rate for a Loan with Fees  
See appendix F for RPN keystrokes for the next two examples.  
The annual percentage rate, APR, incorporates fees usually charged  
when a mortgage is issued, which effectively raises the interest rate. The  
actual amount received (the PV) by the borrower is reduced, while the  
periodic payments remain the same. The APR can be calculated given  
the term of the mortgage (N periods), the annual interest rate (I%YR), the  
mortgage amount (new PV), and the basis of the fee charged (how the  
fee is calculated).  
Remember the cash-flow sign convention: money paid out is negative,  
money received is positive.  
Example: APR for a Loan with Fees. A borrower is charged two points  
for the issuance of a mortgage. (One point is equal to 1% of the  
mortgage amount.) If the mortgage amount is $60,000 for 30 years  
and the interest rate is 11½% annually with monthly payments, what  
APR is the borrower paying?  
14: Additional Examples 193  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
1. Since the payment amount is not given, calculate it (PMT) first. Use the  
given mortgage amount (PV = $60,000) and interest rate (I%YR =  
111/2%).  
2. To find the APR (the new I%YR), use the PMT calculated in step 1 and  
adjust the mortgage amount to reflect the points paid (PV = $60,000  
2%). All other values remain the same (term is 30 years; no future  
value).  
Keys:  
Display:  
Description:  
If necessary, sets 12  
payments per year and  
End mode.  
@c  
e
     
30  
Figures and stores number  
of payments.  
@
  
11.5   
Stores interest rate and  
amount of loan.  
60000   
  
0   
No balloon payment, so  
future value is zero.  
Borrower’s monthly  
payment.  
  
  
Stores actual amount of  
money received by  
borrower into PV.  
R
2
- %  
v
  
Calculates APR.  
  
Example: Loan from the Lender’s Point of View. A $1,000,000,  
10-year, 12% (annual interest) interest-only loan has an origination fee  
of 3 points. What is the yield to the lender? Assume that monthly  
payments of interest are made. (Before figuring the yield, you must  
194 14: Additional Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
calculate the monthly PMT = (loan x 12%) ÷ 12 mos.) When calculating  
the I%YR, the FV (a balloon payment) is the entire loan amount, or  
$1,000,000, while the PV is the loan amount minus the points.  
Keys:  
Display:  
Description:  
   
If necessary, sets 12  
payments per year and  
End mode.  
@ce  
     
  
10  
Stores total number of  
payments.  
@
1000000  
Calculates annual interest  
on $1,000,000 ...  
*
v
12  
  
%/  
v
12   
  
...and calculates, then  
stores monthly payment.  
Stores entire loan amount  
1000000  
 as balloon payment.  
3
- %=  
Calculates, then stores  
amount borrowed (total —  
points).  
v
  
&
  
Calculates APR—the yield  
to lender.  
Loan with an Odd (Partial) First Period  
The TVM menu deals with financial transactions in which each payment  
period is the same length. However, situations exist in which the first  
payment period is not the same length as the remaining periods. This  
first period is sometimes called an odd or partial first period.  
The following Solver equation calculates N, I%, PV, PMT, or FV for  
transactions involving an odd first period, using simple interest for the  
odd period. The formula is valid for 0 to 59 days from inception to  
14: Additional Examples 195  
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first payment, and a 30-day month is assumed.*  
A Solver Equation for Odd-Period Calculations:  
   
  
(For the character, press  .)  
PV = the loan amount.  
I% = the periodic interest rate.  
DAYS = the actual number of days until the first payment is made.  
PMT = the periodic payment.  
N = the total number of payment periods.  
FV = the balloon payment. A balloon payment occurs at the end of the  
last (Nth) period and is in addition to any periodic payment.  
The following examples assume that you have entered the equation  
named ODD, above, into the Solver. For instructions on entering Solver  
equations, see “Solving Your Own Equations,” on page 29.  
Example: Loan with an Odd First Period. A 36-month loan for $4,500  
has an annual interest rate of 15%. If the first payment is made in 46  
days, what is the monthly payment amount?  
Select equation ODD in the Solver.  
Keys:  
Display:  
Description:  
Creates menu.  
36   
4500   
36 payment periods.  
Stores loan amount.  
Stores periodic, monthly  
  
  
15  
12  
/
v
You do not need to specify Begin or End mode. If the number of days until the  
first payment is less than 30, Begin mode is assumed. If the number of days  
until the first payment is between 30 and 59, inclusive, End mode is assumed.  
*
196 14: Additional Examples  
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  
interest rate.  
46   
  
Stores days until first  
payment.  
0   
  
No balloon payment.  
Calculates payment.  
  
Example: Loan with an Odd First Period Plus Balloon. A $10,000  
loan has 24 monthly payments of $400, plus a balloon payment of  
$3,000 at the end of the 24th month. If the payments begin in 8 days,  
what annual interest rate is being charged?  
Select equation ODD.  
Keys:  
Display:  
Description:  
Creates menu.  
10000   
  
  
  
Stores known values.  
24   
400  
&
3000  
&
8   
  
  
  
Calculates periodic  
(monthly) interest rate.  
Annual interest rate.  
  
12  
* =  
v
Canadian Mortgages  
In Canadian mortgages, the compounding and payment periods are not  
the same. Interest is compounded semi-annually while payments are  
made monthly. To use the TVM menu in the hp 17bII+, you need to  
calculate a Canadian mortgage factor to store as I%YR.  
1. Set End mode and store 12 .  
14: Additional Examples 197  
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2. Store 0 , 6 , and 200 .  
3. Add 200 to the annual interest rate, make the number negative, and  
store it in .  
4. Press to calculate the Canadian mortgage factor.  
5. Continue the problem by supplying the other mortgage values and  
solving for the unknown item. Do not change I%YR from step 4.  
Example: Canadian Mortgage. What is the monthly payment required  
to fully amortize a 30-year, $30,000 Canadian mortgage if the interest  
rate is 12%?  
Keys:  
Display:  
Description:  
   
Displays TVM menu; sets  
12 payments per year  
@c  
    with End mode.  
e
0   
  
  
  
6   
200   
12  
+ =&  
v
  
  
Calculates I%YR for  
Canadian mortgage  
factor.  
30  
  
Stores other values.  
@
30000   
0   
  
  
  
Monthly payment.  
A Solver Equation for Canadian Mortgages:  
   
  
198 14: Additional Examples  
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(For the operator press  
.)  
@u  
PV = loan amount, or present value.  
PMT = monthly payment amount.  
I%YR = annual (Canadian) interest rate as a percent.  
N = total number of payment periods for the life of the loan.  
FV = remaining balance, or future value.  
For instructions on entering Solver equations, see “Solving Your Own  
Equations,” on page 29.  
Advance Payments (Leasing)  
Occasionally payments are made in advance, such as in leasing.  
Leasing agreements sometimes call for the extra payments to be made  
when the transaction is closed. A residual value (salvage value) can also  
exist at the end of the normal term.  
The following equation calculates the monthly payment and the annual  
yield when one or more payments are made in advance. It can be  
modified to accommodate periods other than monthly by changing the  
number 12 to the appropriate number of payment periods per year.  
Remember the cash-flow sign convention: money paid out is negative,  
money received is positive.  
A Solver Equation for Advance Payments:  
   
  
(For the character press   .)  
PMT = the monthly payment amount.  
PV = the value of the equipment.  
FV = the residual value.  
14: Additional Examples 199  
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I%YR = the annual interest rate as a percent.  
N = the total number of payments.  
#ADV = the number of advance payments.  
The following example assumes that you have entered the equation ADV,  
above, into the Solver. For instructions on entering Solver equations, see  
“Solving Your Own Equations,” on page 29.  
Example: Leasing with Advance Payments. Equipment worth $750 is  
leased to you for 12 months. The equipment is assumed to have no  
salvage value at the end of the lease. You agree to make three  
payments at the time of closing. What is the monthly payment if the  
annual interest rate is 10%?  
Select the ADV equation in the Solver.  
Keys:  
Display:  
Description:  
Creates menu.  
750  
Stores known values.  
12  
0
  
3
10  
  
  
Calculates payment.  
Savings  
Value of a Fund with Regular Withdrawals  
Example: A Fund with Regular Withdrawals. What are the balances  
after 1, 10, and 20 years of a fund that starts at $750,000, has  
$20,000 withdrawn at the beginning of each quarter, and earns 10%  
annual interest compounded monthly?  
200 14: Additional Examples  
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1. Because the compounding periods and the withdrawal periods are  
not coincident, you must first convert the nominal interest rate to one in  
terms of the withdrawal periods. You can do this using the ICNV  
menu, as explained on page 87, “Compounding Periods Different  
from Payment Periods.”  
2. The rest of the calculation is a straightforward TVM problem.  
Remember that money deposited is paid out and therefore negative;  
money withdrawn is received and therefore positive.  
Step 1: Find the adjusted nominal interest rate.  
Keys:  
Display:  
Description:  
   
Displays periodic  
interest-rate conversion  
menu.  
   
  
  
12   
10   
Stores number of  
compounding periods.  
Stores nominal interest  
rate.  
  
  
  
Calculates effective  
interest rate.  
4   
Stores number of  
withdrawal periods.  
Calculates adjusted  
nominal interest rate.  
  
Step 2: Calculate the future values.  
Keys:  
Display:  
Description:  
Switches to TVM menu.  
ee  
14: Additional Examples 201  
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  
Clears message to show  
NOM% value still in  
calculator line.  
<
  
Stores adjusted nominal  
interest rate in I%YR.  
Sets 4 payments  
s
4   
(withdrawals) per year  
    and  
Begin mode.  
e
750000  
Stores present (initial)  
value of fund.  
&
  
  
20000   
4   
Stores withdrawal  
amount.  
  
Stores number of  
withdrawals in 1 year.  
Value of fund at end of  
year 1.  
  
  
40   
Stores number of  
withdrawals over 10  
years.  
  
  
Calculates value of fund at  
end of year 10.  
Stores number of  
withdrawals after 20  
years.  
20  
@
  
Calculates value of fund  
at end of year 20.  
Deposits Needed for a Child’s College Account  
See appendix F for RPN keystrokes for this example.  
202 14: Additional Examples  
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Suppose you want to start saving now to accommodate a future series of  
cash outflows. An example of this is saving money for college. To  
determine how much you need to save each period, you must know  
when you’ll need the money, how much you’ll need, and at what interest  
rate you can invest your deposits.  
Use a CFLO list to calculate the net uniform series (NUS) of the future  
withdrawals:  
1. Store zero for all cash flows except the withdrawals. For those cash  
flows, store the amounts you will need to withdraw (since this is cash  
received, these cash flows will be positive).  
2. Store the periodic interest rate in I% and calculate NUS. The NUS  
equals the amount of the monthly deposit you will need to make.  
You can also calculate the equivalent present value of all the monthly  
deposits combined by calculating the net present value, NPV.  
Example: Savings for College. Your daughter will be going to college  
in 12 years and you are starting a fund for her education. She will need  
$15,000 at the beginning of each year for four years. The fund earns  
9% annually, compounded monthly, and you plan to make monthly  
deposits, starting at the end of the current month. How much should you  
deposit each month to meet her educational expenses?  
The cash-flow diagram looks like this:  
14: Additional Examples 203  
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$0 $0 $0  
$0  
$0  
$0  
$0  
$0  
$0  
$0  
0
1
2
144  
156  
168  
180  
Figure 14-1. Flow of Withdrawals  
9.00  
0
1
2
3
178  
179  
180  
Figure 14-2. Flow of Deposits  
Keys:  
Display:  
Description:  
Displays current cash-flow  
list and CFLO  
menu keys.  
  
Clears current list or gets a  
new one.  
@c  
or  
   
  
204 14: Additional Examples  
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Step 1: Set up a CFLO list.  
0
0
  
Sets initial cash flow,  
FLOW(0), to zero.  
I
I
  
Stores zero in FLOW(1)  
and prompts for the  
number of times it occurs.  
Stores 143 (for 11 years,  
11 months) in #TIMES(1)  
for FLOW(1).  
12  
12  
1
v * -  
  
I
15000  
  
Stores amount of first  
withdrawal, at end of  
12th year.  
I
  
I
0
  
Stores cash flows of  
zero...  
I
11  
  
...for the next 11 months.  
Stores second withdrawal,  
for sophomore year.  
Stores cash flows of zero  
for the next 11 months.  
Stores third withdrawal,  
for junior year.  
I
15000  
I
  
I
0
I
11  
  
I
15000  
I
  
I
0
Stores cash flows of zero  
for the next 11 months.  
Stores fourth withdrawal,  
for senior year.  
I
11  
  
I
15000  
I
  
    
   
I
Done entering cash flows;  
gets CALC menu.  
e
14: Additional Examples 205  
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Step 2: Calculate NUS for the monthly deposit.  
Keys:  
Display:  
Description:  
9
12  
Figures the periodic  
(monthly) interest rate and  
stores it in I%.  
/
v
  
  
Amount of monthly deposit  
needed to meet  
planned withdrawals.  
Calculates the net present  
value of the monthly  
deposits, which is the  
same as the NPV of the  
four future withdrawals.  
  
Value of a Tax-Free Account  
See appendix F for RPN keystrokes for this example.  
You can use the TVM menu to calculate the future value of a tax-free or  
tax-deferred account, such as an IRA or Keogh account. Remember that  
for calculations with cash flows, money paid out is negative and money  
received is positive. (Current tax law and your current income will  
determine whether just interest or also principal are tax-free, and for  
how long. You can solve for either case.)  
N = the number of payments until retirement.  
I%YR = the annual dividend rate.  
PV = the present value of the retirement account.  
PMT = the amount of your deposit. (It must be constant for the duration  
of the account.)  
FV = the future value of the retirement account.  
The purchasing power of that future value depends on the inflation rate  
and the duration of the account.  
206 14: Additional Examples  
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Example: Tax-Free Account. Consider opening an IRA account with a  
dividend rate of 8.175%. 1) If you invest $2,000 at the beginning of  
each year for 35 years, how much will you have at retirement? 2) How  
much will you have paid into the IRA? 3) How much interest will you  
have earned? 4) If your post-retirement tax rate is 15%, what is the  
after-tax future value of the account? Assume only the interest will be  
taxed. (Assume the principal was taxed before deposit.) 5) What is the  
purchasing power of that amount, in today’s dollars, assuming an 8%  
annual inflation rate?  
Keys:  
Display:  
Description:  
   
Sets 1 payment per year  
and Begin mode.  
1   
     
e
35   
Stores number of payment  
periods until retirement (1  
× 35).  
  
8.175   
Stores dividend rate.  
  
  
0   
Present value of account  
(before first payment).  
Annual payment  
(deposit).  
2000  
&
  
Calculates amount in  
account at retirement.  
Calculates total amount  
paid into IRA by  
  
R
*R  
v
retirement.  
=
  
v
Calculates interest you  
will earn.  
+R  
v
=
  
v
14: Additional Examples 207  
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15  
* %=  
Taxes at 15% of interest.  
  
v
Subtracts taxes from total  
FV to calculate after-tax  
FV.  
&+R  
v
=
  
v
Stores after-tax future  
value in FV.  
  
8   
0   
Calculates present-value  
purchasing power of the  
above after-tax FV at 8%  
inflation rate.  
  
Value of a Taxable Retirement Account  
See appendix F for RPN keystrokes for this example.  
This problem uses the TVM menu to calculate the future value of a  
taxable retirement account that receives regular, annual payments  
beginning today (Begin mode). The annual tax on the interest is paid out  
of the account. (Assume the deposits have been taxed already.)  
N = the number of years until retirement.  
I%YR = the annual interest rate diminished by the tax rate:  
interest rate × (1tax rate).  
PV = the current amount in the retirement account.  
PMT = the amount of the annual payment.  
FV = the future value of the retirement account.  
Example: Taxable Retirement Account. If you invest $3,000 each year  
for 35 years, with dividends taxed as ordinary income, how much will  
you have in the account at retirement? Assume an annual dividend rate  
of 8.175% and a tax rate of 28%, and that payments begin today.  
What will be the purchasing power of that amount in today’s dollars,  
assuming 8% annual inflation?  
208 14: Additional Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Keys:  
Display:  
Description:  
   
Displays TVM menu.  
1   
Sets 1 payment per year  
    and Begin mode.  
e
35   
  
Stores years until  
retirement.  
8.175 28  
  
  
Calculates and stores  
interest rate diminished by  
tax rate.  
- %  
v
v
0   
Stores no present value.  
  
3000  
Stores annual payment.  
Calculates future value.  
&
  
  
8   
0   
Calculates present-value  
purchasing power of the  
above FV at 8%  
  
inflation.  
Modified Internal Rate of Return  
When there is more than one sign change (positive to negative or  
negative to positive) in a series of cash flows, there is a potential for  
more than one IRR%. For example, the cash-flow sequence in the  
following example has three sign changes and hence up to three  
potential internal rates of return. (This particular example has three  
positive real answers: 1.86, 14.35, and 29.02% monthly.)  
The Modified Internal Rate of Return (MIRR) procedure is an alternative  
that can be used when your cash-flow situation has multiple sign  
changes. The procedure eliminates the sign change problem by utilizing  
reinvestment and borrowing rates that you specify. Negative cash flows  
are discounted at a safe rate that reflects the return on an investment in  
14: Additional Examples 209  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
a liquid account. The figure generally used is a short-term security (T-bill)  
or bank passbook rate. Positive cash flows are reinvested at a  
reinvestment rate that reflects the return on an investment of comparable  
risk. An average return rate on recent market investments might be used.  
1. In the CFLO menu, calculate the present value of the negative cash  
flows (NPV) at the safe rate and store the result in register 0. Enter  
zero for any cash flow that is positive.  
2. Calculate the future value of the positive cash flows (NFV) at the  
reinvestment rate and store the result in register 1. Enter zero for any  
cash flow that is negative.  
3. In the TVM menu, store the total number of periods in N, the NPV  
result in PV, and the NFV result in FV.  
4. Press to calculate the periodic interest rate. This is the  
modified internal rate of return, MIRR.  
Example: Modified IRR. An investor has an investment opportunity with  
the following cash flows:  
Group  
(FLOW no.)  
No. of Months  
(#TIMES)  
Cash Flow, $  
0
1
2
3
4
1
5
5
9
1
180,000  
100,000  
100,000  
0
200,000  
Calculate the MIRR using a safe rate of 8% and a reinvestment (risk) rate  
of 13%.  
Keys:  
Display:  
Description:  
   
Displays current cash-flow  
list.  
  
@c  
Clears current list or gets a  
210 14: Additional Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
or  
   
new one.  
  
180000  
Stores initial cash flow,  
FLOW(0).  
&
  
I
0
Stores FLOW(1) as zero  
since the flow amount is  
positive.  
I
  
5
Stores 5 for #TIMES(1).  
I
  
100000  
Stores FLOW(2).  
&
  
I
5
Stores FLOW(2) 5 times.  
You can skip FLOW(3)  
and FLOW(4) because  
they are equal to zero for  
this part.  
I
  
    
   
e
8 12  
Stores monthly safe  
interest rate.  
/
v
  
 Calculates NPV of  
negative cash flows.  
0
 Stores NPV in register 0.  
s
  
  
  
Returns to CFLO menu.  
Clears list.  
e
@c  
0
Stores zero as FLOW(0).  
(Skip negative flows; store  
positive flows.)  
I
100000  
Stores FLOW(1) 5 times.  
I
5
0
  
I
Stores zero for FLOW(2),  
I
14: Additional Examples 211  
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5
0
9
  
5 times.  
I
I
I
Stores zero for FLOW(3),  
9 times.  
  
200000  
Stores FLOW(4), 1 time.  
I
  
    
   
I
  
e
13  
12  
Stores monthly  
/
v
  
  
reinvestment rate.  
Calculates NFV of positive  
cash flows.  
  
1
  
Stores NFV in register 1.  
Switches to TVM menu;  
sets 12 periods per year  
s
@A  
   
@ce  
20   
with  
End  
mode,  
if  
     
necessary.  
  
Stores total number of  
investment periods.  
Recalls present value of  
negative cash flows and  
stores in PV.  
0   
  
R
1   
  
Recalls future value of  
positive cash flows and  
stores in FV.  
R
0   
  
Stores zero in PMT (no  
payments).  
  
Calculates annual MIRR.  
212 14: Additional Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Price of an Insurance Policy  
The price of an insurance policy, other than term life insurance, is rarely  
apparent at first glance. The price should include not only the premium  
payments, but also the interest that could have been earned on the cash  
value or savings portion of the policy.  
The following equation calculates the price per $1,000 of protection for  
one policy year and the interest rate earned on the savings portion of  
the policy.  
To calculate the price, assume some value for interest—for example, the  
interest rate you could earn on a one-year savings certificate after tax.  
Similarly, to calculate interest, assume a price per $1,000 per year for  
alternative insurance; for example, a low-cost term policy of the  
one-year renewable type.  
Even complex policies like minimum-deposit plans can be analyzed with  
this procedure. Use policy surrender values for cash values and the  
actual (after-tax) amounts for payments (premiums) and dividends.  
A Solver Equation for Insurance Price:  
  
  
INS = the price per $1,000 of protection in one policy year.  
PREM = the annual premium amount.  
LVAL = the value of the policy at the end of last year.  
I% = the rate of return, as a percent, on a savings account.  
VAL = the value of the policy at the end of the current year.  
DIV = the dollar value of the dividend for one year.  
FACE = the face value of the policy for one year.  
The following example assumes that you have entered the above  
equation into the Solver. For instructions on entering Solver equations,  
see “Solving Your Own Equations,” on page 30.  
14: Additional Examples 213  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Example: Insurance Policy. You are evaluating your $50,000  
insurance policy. The premium of $1,010 is due at the beginning of the  
year, and a dividend of $165 is received at the end of the policy year.  
The cash value of the policy is $3,302 at the beginning of the year; it  
will grow to $4,104 by the end of the year. You can earn 6% on a  
savings account. What is the annual price per $1,000 protection?  
Select the correct equation in the Solver.  
Keys:  
Display:  
Description:  
1010  
Creates menu.  
  
  
  
Stores annual premium.  
Stores value of policy at  
end of last year.  
3302  
  
6   
  
Stores interest rate you  
could get elsewhere.  
Stores value of policy at  
end of this year.  
4104  
  
  
165  
Stores annual dividend.  
  
  
50000  
  
  
Stores face value of  
policy.  
  
  
Your protection cost  
$6.57 per $1,000 face  
(protection) value.  
Insurance protection could be purchased for $3 per $1,000 face value.  
Calculate the rate of return on your savings.  
Keys:  
Display:  
Description:  
3
  
  
Stores price of alternate  
insurance.  
  
Calculates rate of return.  
214 14: Additional Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Reference: Joseph M. Belth, Life Insurance—A Consumer’s Handbook,  
Indiana University Press, 1973, p. 234.  
Bonds  
Example: Yield to Maturity and Yield to Call. On March 16, 2003  
you consider the purchase of a $1,000 bond that was issued on  
January 1, 2001. It has a 10.5% semiannual coupon using a 30/360  
calendar, and matures on January 1, 2031. The bond is callable on  
January 1, 2006 at 110 (that is, $1,100). The bond is now selling at  
115.174 (that is, $1,151.74). Determine both the yield to maturity and  
the yield to call for this bond.  
First, calculate the yield to maturity:  
Keys:  
Display:  
Description:  
   
   
Displays BOND menu.  
Sets semiannual bond  
  on 30/360 calendar.  
  Clears variables; sets  
CALL to 100.  
e
@c  
3.162003  
   
Stores today as  
purchase date.  
1.012031  Stores maturity date.  
10.5   
  
Stores coupon rate.  
Stores price. Displays  
only two decimal  
places, but stores all  
three.  
115.174   
  
  
Calculates yield to  
maturity.  
14: Additional Examples 215  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Second, calculate the yield to call:  
Keys:  
Display:  
Description:  
  
Returns to first BOND  
menu.  
1.012006  
Changes maturity date  
  to the call date.  
110   
  
  
Stores call value.  
Calculates a yield to  
call.  
  
Discounted Notes  
A note is a written agreement to pay to the buyer of the note a sum of  
money plus interest. Notes do not have periodic coupons, since all  
interest is paid at maturity. A discounted note is a note that is purchased  
below its face value. The following equations find the price or yield of a  
discounted note. The calendar basis is actual/360.  
Solver Equations for Discounted Notes: To find the price given the  
discount rate:  
  
To find the yield given the price (or to find the price given the yield):  
  
  
PRICE = the purchase price per $100 face value.  
YIELD = the yield as an annual percentage.  
RV = the redemption value per $100.  
DISC = the discount rate as a percent.  
SETT = the settlement date (in current date format).  
MAT = the maturity date (in current date format).  
216 14: Additional Examples  
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The following example assumes that you have entered the NOTE  
equations into the Solver. For instructions on entering Solver equations,  
see “Solving Your Own Equations,” on page 30.  
Example:Price and Yield of a Discounted Note. What are the price  
and yield of the following U.S. Treasury Bill: settlement date October 14,  
2003; maturity date March 17, 2004; discount rate 8.7%? (Assume  
month/day/year format.)  
Select the NOTE:PRICE equation in the Solver.  
Keys:  
Display:  
Description:  
Creates menu.  
10.142003  
Stores known values.  
  
3.172004  
  
  
  
  
  
  
  
8.7  
  
100  
  
Calculates price.  
Displays NOTE:YIELD  
equation, then its menu.  
Calculates yield.  
e]  
  
Statistics  
Moving Average  
Moving averages are often useful in predicting trends in data taken over  
a period of time. In moving-average calculations, a specified number of  
points is averaged. Each time a new point is acquired, the oldest point  
is discarded. Thus, the same number of points is used in each  
calculation.  
14: Additional Examples 217  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
A Solver Equation for Moving Averages:  
name  
  
  
  
N = the number of values averaged in each calculation.  
LAST = the item number of the most recent value to be averaged.  
name = the name of the SUM list whose data will be averaged. When  
you create and name the SUM list, make sure its name matches  
the name in the Solver equation.  
The following example assumes that you have entered the equation  
MAVG into the Solver, using VOL for the SUM list’s name. For  
instructions on entering Solver equations, see “Solving Your Own  
Equations,” on page 30.  
Example: A Moving Average in Manufacturing. Calculate a three-  
month moving average for the number of units manufactured during the  
first half of the year. Manufacturing volumes are:  
January February March  
4400 5360 2900  
April  
3670  
May  
4040  
June  
3200  
Keys:  
Display:  
Description:  
Displays SUM menu  
and  
current list.  
Clears current list or  
gets  
  
@c  
or  
    
a new one.  
Enters data.  
4400  
5360  
2900  
3670  
I
I
I
I
218 14: Additional Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
4040  
3200  
I
I
  
  
Names the list VOL.  
e
VOL  
  
I
Displays the MAVG  
equation. Make sure  
name is VOL.  
e
(use  
and  
] [  
if necessary)  
Displays menu.  
3   
  
Stores number of  
points.  
3   
  
Calculates average for  
months 1, 2, and 3.  
Calculates average for  
months 2, 3, and 4.  
Calculates average for  
months 3, 4, and 5.  
Calculates average for  
months 4, 5, and 6.  
  
4   
  
  
5   
  
  
6   
  
  
Chi-Squared ( χ2 ) Statistics  
The χ2 statistic is a measure of the goodness of fit between data and an  
assumed distribution.* It is used to test whether a set of observed  
frequencies differs from a set of expected frequencies sufficiently to  
reject the hypothesis under which the expected frequencies were  
obtained.  
* The statistic can be assumed to be χ2 distributed with n–1 degrees of freedom  
if n or some of the Ei values are large.  
14: Additional Examples 219  
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In other words, it tests whether discrepancies between the observed  
frequencies (Oi) and the expected frequencies (Ei) are significant, or  
whether they might reasonably result from chance. The equation is:  
(Oi Ei )2  
n
χ2 =  
Ei  
i=1  
If there is a close agreement between the observed and expected  
frequencies, χ2 will be small. If the agreement is poor, χ2 will be large.  
Solver Equations for χ2 Calculations:  
If the expected value is a constant:  
name1  
  
name1  
  
  
  
If the expected values vary:  
name1  
  
name1  
  
  
  
name2  
name2  
  
  
(To enter the Σ character, press   .)  
CHI2 = the final χ2 value for your data.  
name1 = the name of the SUM list that contains the observed values.  
name2 = the name of the SUM list that contains the expected values.  
EXP = the expected value when it is a constant.  
When you create and name the SUM list(s), make sure the name(s)  
match name1 (and name2, if applicable) in the Solver equation.  
To solve the equation, press once or twice (until you see the  
message  
).  
  
The following example assumes that you have entered the CHI equation  
into the Solver, using OBS for name1. For instructions on entering Solver  
equations, see “Solving Your Own Equations,” on page 30.  
Example: Expected Throws of a Die. To determine whether a suspect  
die is biased, you toss it 120 times and observe the following results.  
(The expected frequency is the same for each number, 120 ÷ 6, or 20.)  
220 14: Additional Examples  
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Number  
1
2
3
4
5
6
Frequency Observed  
25  
17  
15  
23  
24  
16  
Keystroke:  
Display:  
Description:  
Displays SUM menu and  
current list.  
  
Clears current list or gets a  
new one.  
@c  
or  
   
  
25  
Enters observed values.  
I
17  
I
15  
I
23  
I
24  
I
16  
  
I
  
Names the list OBS.  
e
OBS  
  
I
Displays the CHI  
equation. Make sure  
name1 is OBS.  
e
(use  
and  
[ ]  
if necessary )  
Displays menu.  
20   
  
  
Stores expected value.  
Calculates χ2.  
  
The number of degrees of freedom is (n–1)5. Consult statistical tables  
to find χ2 to a significance level of 0.05 with 5 degrees of freedom. The  
table shows that χ02.05,5 11.07. Since the computed value (5.00) is less  
than 11.07, you can conclude that, to a 0.05 significance level (95%  
probability), the die is fair.  
14: Additional Examples 221  
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A
Assistance, Batteries,  
Memory, and Service  
Obtaining Help in Operating the Calculator  
Hewlett-Packard is committed to supporting users of HP calculators. You  
can obtain answers to your questions about using the calculator from  
our Calculator Support department.  
We suggest reading “Answers to Common questions,” below, before  
contacting us. Past experience has shown that many of our customers  
have similar questions.  
Answers to Common Questions  
Q: I’m not sure if the calculator is malfunctioning or if I’m doing  
something incorrectly. How can I determine if the calculator is operating  
properly?  
A: Refer to page 232, which describes the diagnostic self-test.  
Q: My arithmetic keys don’t work like I expect. I press 12  
3
+ =  
and  
get 3.00.  
A: You may be in the wrong mode. Press  
to set  
@>  
Algebraic mode.  
Q: My numbers contain commas as decimal points. How do I restore  
the periods?  
A: Press  
.  
D
222 A: Assistance, Batteries, Memory, and Service  
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Q: How do I change the number of decimal places the calculator  
displays?  
A: The procedure is described in “Decimal Places” on page 34.  
Q: How do I clear all or portions of memory?  
A:  
clears the calculator line.  
clears the data lists or  
C
@c  
variables accessible from the current menu. Erasing the entire contents  
of memory is covered in “Erasing Continuous Memory” on page 229.  
Q: Why am I getting the wrong answer using the TVM menu?  
A: Be sure to enter a value for all five TVM variables, even if a value is  
zero (as FV is for a loan without a balloon). Clearing the variables  
before starting (  
) accomplishes the same thing. Check the  
@c  
appropriate payment mode (mortgages and loans are typically End  
mode calculations), and specify the number of payments per year  
( ). Also check that all figures for money paid out are negative  
(the cash-flow sign convention).  
Q: Can I access the TVM menu functions from the Solver?  
A: No, but you can do the same functions by copying the appropriate  
financial formulas into the Solver. The formulas are given starting on  
page 168.  
Q: Can I access the data stored in my CFLO and SUM lists from the  
Solver?  
A: Yes. See “Accessing CFLO and SUM Lists from the Solver,” page  
177.  
Q: How do I indicate multiplication in an equation typed into the  
Solver?  
A: Use the multiplication key ( ). You cannot use the letter in  
*
the ALPHA menu.  
Q: What does an “E” in a number (for example, 2.51E13) mean?  
A: Exponent of ten (for example, 2.51 x 10-13). Refer to “Scientific  
Notation” on page 47.  
Q: The calculator has displayed the message  
. What should I do?  
   
A: Assistance, Batteries, Memory, and Service 223  
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A: Refer to “Managing Calculator Memory” on page 227 for  
instructions on how to reclaim memory for your use.  
Q: The calculator is operating slowly, and the  
blinking. Why?  
annunciator is  
to turn  
A: The calculator is trace printing. Press  
@p e  
off tracing.  
Q: How can I change the sign of a number in a list without keying in the  
number again?  
A: Press  
.
RI&I  
Q: The beeper is not working.  
A: Check the beeper mode by pressing  
. See also  
@>  
page 36.  
Q: The messages and the menu labels in the display are not in English.  
How do I restore the English?  
A: Models of the hp 17bII+ sold in many countries outside of the United  
States include a menu to select the language for messages and labels.  
To select the English language, press  
  .  
@>  
Power and Batteries  
The calculator is power by two 3-volt lithium coin batteries.  
When changing batteries, use only fresh button-cell batteries. Both  
batteries must be changed at the same time.  
Do not use rechargeable batteries.  
Low-Power Indications  
When the low-battery annunciator (  
) comes on, the calculator  
can continue normal operation for several hours. If the calculator is  
turned off. Continuous Memory will be preserved for approximately two  
weeks. To conserve battery power, printing does not function when the  
battery annunciator is on. Printing might halt during a printing operation  
224 A: Assistance, Batteries, Memory, and Service  
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due to a borderline low-battery condition. The calculator can detect that  
there is insufficient power for printing before the battery annunciator  
comes on.  
If you continue to use the calculator after the battery annunciator comes  
on, power can eventually drop to a level at which the calculator stops  
powering the display and keyboard. The calculator will require fresh  
batteries before it can be turned back on. When you turn the calculator  
on after fresh batteries have been installed, the calculator returns to the  
previous display if your stored data is intact. If data has been lost, the  
calculator displays  
. Please see page 18 for  
  
information about the language setting. After selecting a language, the  
display will show . Pressing any key will clear this  
  
message from the display. In either case, the clock’s time might be  
incorrect.  
Installing Batteries  
Once the batteries are removed, you must replace the batteries  
within 30 seconds to prevent loss of Continuous Memory.  
To install batteries:  
1. Have two fresh CR2032 batteries at hand. Hold batteries by the  
edges. Do not touch the contacts. Wipe each battery with a clean,  
lint-free cloth to remove dirt and oil.  
2. Make sure the calculator is off. Do not press  
again until the  
C
entire procedure for changing batteries is completed. Changing  
batteries with the calculator on can erase the contents of  
Continuous Memory. If you have set any appointments, make sure  
they will not come due while the batteries are out.  
3. Turn the calculator over and prize off the battery cover.  
A: Assistance, Batteries, Memory, and Service 225  
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4. Never remove two old batteries at the same time, in case memory  
lost. Remove one of the two batteries once. Insert a new battery,  
making sure that the positive sign (+) is facing outward.  
Do not mutilate, puncture, or dispose of batteries in fire.  
The batteries can burst or explode, releasing hazardous  
chemicals.  
Warning  
5. Remove and insert the other battery as step 4. Make sure that the  
positive sign (+) on each battery is facing outward.  
6. Replace the battery compartment cover.  
7. Press on.  
Now turn the calculator back on. If it does not function, you might have  
taken too long to change the batteries or inadvertently turned the  
calculator on while the batteries were out. Remove the batteries again  
and lightly press a coin against both battery contacts in the calculator  
for a few seconds. Put the batteries back in and turn the calculator on.  
You should see  
.
   
226 A: Assistance, Batteries, Memory, and Service  
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Managing Calculator Memory  
The calculator has approximately 30,740 units (or “bytes”) of user  
memory available. (This is separate from the system memory that stores  
all the unerasable information with which the calculator is manufactured.)  
The calculator displays  
if you attempt an  
   
operation that uses more memory than is currently available. If you see  
this message:  
1. Complete any calculations in the calculator line (press  
or  
).  
= C  
This frees the memory that was being used to store each of the  
numbers and operators.  
2. To further increase the amount of available memory:  
Rename the named SUM and CFLO lists with shorter names (see  
page 98), and clear any lists you no longer need (see page 99).  
Shorten or delete any messages with appointments (see page  
146).  
Delete any Solver variables or equations you no longer need (see  
page 164).  
A: Assistance, Batteries, Memory, and Service 227  
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Resetting the Calculator  
If the calculator doesn’t respond to keystrokes or is behaving unusually,  
attempt to reset it. Resetting the calculator halts the current calculation,  
clears the calculator line, and displays the MAIN menu. Stored data  
remains intact.  
To reset the calculator, hold down  
while pressing the third menu  
C
key from the left. Repeat if necessary. The calculator displays  
to confirm that reset has occurred.  
   
The calculator can reset itself if it is dropped or if power is interrupted.  
If the calculator still does not respond to keystrokes, use a thin, pointed  
object to press the reset hole near of the battery compartment.  
Reset hole  
Resetting the calculator halts the current calculation, clears the calculator  
line, and displays the MAIN menu. Stored data remains intact except  
setting those conditions: double-space printing off, printer tracing off,  
printer without the ac adapter, and beeper on.  
228 A: Assistance, Batteries, Memory, and Service  
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Erasing Continuous Memory  
Erasing Continuous Memory is a way of freeing a large amount of  
memory so that you can use it for other things. In addition, the calculator  
is set to certain “default” settings.  
Clears the calculator line and history stack.  
Deletes all Solver equations and their variables, and clears all other  
variables in menus.  
Clears all CFLO and SUM lists and their names.  
Clears all appointments.  
Returns U.S Dollars and EURO Dollars currencies and the rate equals  
1.0000.  
Sets those conditions:  
For English language:  
Month/day/year date format, 12-hour clock, 2 decimal places,  
double-space printing off, printer tracing off, printer without the ac  
adapter, and beeper on.  
For the other languages:  
Day/month/year date format, 24-hour clock, 2 decimal places,  
double-space printing off, printer tracing off, printer without the ac  
adapter, and beeper on.  
Maintains the selected mode  
ALG or RPN  
Period (.) or comma (,) decimal point.  
Erasing Continuous Memory does not affect the current time and date,  
date and the selected language.  
To erase Continuous Memory, press and hold down  
, the leftmost  
C
menu key, and the rightmost menu key. (Press three keys simultaneously).  
When the three keys are released, the calculator displays  
  
.
  
Continuous Memory can inadvertently be erased if the calculator is  
dropped or if power is interrupted.  
A: Assistance, Batteries, Memory, and Service 229  
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Clock Accuracy  
The clock is regulated by a quartz crystal accurate to within 1.5 minutes  
per month under normal conditions. The accuracy of the clock crystal is  
affected by temperature, physical shock, humidity, and aging. Optimum  
accuracy is maintained at 25°C (77°F).  
Environmental Limits  
In order to maintain product reliability, observe the following limits:  
Operating temperature: 0° to 45°C (32° to 113°F).  
Storage temperature: 20° to 65°C (4° to 149°F).  
Operating and storage humidity: 90% relative humidity at 40°C  
(104°F) maximum.  
Determining If the Calculator Requires  
Service  
Use these guidelines to determine if the calculator requires service. If it  
does, read “Service” on page 235.  
If the calculator won’t turn on:  
1. Attempt to reset the calculator (see page 228).  
2. If the calculator fails to respond after step 1, replace the batteries  
(see page 225). If you have just replaced the batteries, see page  
227.  
If these steps do not help, the calculator requires service.  
If the calculator doesn’t respond to keystrokes:  
1. Attempt to reset the calculator (see page 228).  
2. If the calculator still fails to respond, attempt to erase Continuous  
Memory (see page 229). This will erase all the information you’ve  
stored.  
If these steps do not help, the calculator requires service.  
230 A: Assistance, Batteries, Memory, and Service  
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If the calculator responds to keystrokes but you suspect that it is  
malfunctioning:  
1. Do the self-test (described below). If the calculator fails the self test,  
it requires service.  
2. If the calculator passes the self-test, it is quite likely you’ve made a  
mistake in operating the calculator. Try rereading portions of the  
manual, and check Answers to Common Questions” on page  
222.  
3. Contact the Calculator Support department.  
A: Assistance, Batteries, Memory, and Service 231  
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Confirming Calculator Operation:  
Self-Test  
If the display can be turned on, but it appears that the calculator is not  
operating properly, you can do a diagnostic self-test. The self-test runs  
continuously, repeating until you halt it.  
To run the self-test:  
1. Turn the calculator on.  
2. If you have the optional infrared printer, turn it on. Certain diagnostic  
information is printed during the test.  
3. If possible, return to the MAIN menu (press  
).  
@A  
4. To start the self-test, hold down  
while you press the fifth menu  
C
key from the left. Once the self-test has begun, do not press any keys  
until you are ready to halt the test.  
5. During the test, the calculator beeps periodically and displays various  
patterns and characters. Watch for one of two messages that are  
displayed before the test automatically repeats:  
If the calculator passes the self-test, the calculator displays  
  
If the calculator displays  
  
the calculator requires service.  
followed by a five-digit number,  
6. To halt the self-test, hold down  
while you press the third menu  
C
key from the left. The calculator displays  
. If you  
   
press any other key instead, the test halts and the calculator displays  
a
message. This results from an incorrect key being pressed,  
  
and does not mean that the calculator requires service.  
7. If the calculator failed the self-test, repeat steps 4 through 6 to verify  
the results. If you do not have a printer, write down the messages that  
are displayed in step 5.  
232 A: Assistance, Batteries, Memory, and Service  
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Warranty  
hp 17bII+ Financial Calculator; Warranty period: 12 months  
1. HP warrants to you, the end-user customer, that HP hardware,  
accessories and supplies will be free from defects in materials  
and workmanship after the date of purchase, for the period  
specified above. If HP receives notice of such defects during the  
warranty period, HP will, at its option, either repair or replace  
products which prove to be defective. Replacement products may  
be either new or like-new.  
2. HP warrants to you that HP software will not fail to execute its  
programming instructions after the date of purchase, for the  
period specified above, due to defects in material and  
workmanship when properly installed and used. If HP receives  
notice of such defects during the warranty period, HP will  
replace software media which does not execute its programming  
instructions due to such defects.  
3. HP does not warrant that the operation of HP products will be  
uninterrupted or error free. If HP is unable, within a reasonable  
time, to repair or replace any product to a condition as  
warranted, you will be entitled to a refund of the purchase price  
upon prompt return of the product.  
4. HP products may contain remanufactured parts equivalent to new  
in performance or may have been subject to incidental use.  
5. Warranty does not apply to defects resulting from (a) improper  
or inadequate maintenance or calibration, (b) software,  
interfacing, parts or supplies not supplied by HP, (c)  
unauthorized modification or misuse, (d) operation outside of the  
published environmental specifications for the product, or (e)  
improper site preparation or maintenance.  
6. HP MAKES NO OTHER EXPRESS WARRANTY OR CONDITION  
WHETHER WRITTEN OR ORAL. TO THE EXTENT ALLOWED BY  
LOCAL LAW, ANY IMPLIED WARRANTY OR CONDITION OF  
MERCHANTABILITY, SATISFACTORY QUALITY, OR FITNESS  
FOR A PARTICULAR PURPOSE IS LIMITED TO THE DURATION  
OF THE EXPRESS WARRANTY SET FORTH ABOVE. Some  
countries, states or provinces do not allow limitations on the  
duration of an implied warranty, so the above limitation or  
A: Assistance, Batteries, Memory, and Service 233  
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exclusion might not apply to you. This warranty gives you  
specific legal rights and you might also have other rights that  
vary from country to country, state to state, or province to  
province.  
7. TO THE EXTENT ALLOWED BY LOCAL LAW, THE REMEDIES IN  
THIS WARRANTY STATEMENT ARE YOUR SOLE AND  
EXCLUSIVE REMEDIES. EXCEPT AS INDICATED ABOVE, IN NO  
EVENT WILL HP OR ITS SUPPLIERS BE LIABLE FOR LOSS OF  
DATA  
OR  
FOR  
DIRECT,  
SPECIAL,  
INCIDENTAL,  
CONSEQUENTIAL (INCLUDING LOST PROFIT OR DATA), OR  
OTHER DAMAGE, WHETHER BASED IN CONTRACT, TORT, OR  
OTHERWISE. Some countries, States or provinces do not allow  
the exclusion or limitation of incidental or consequential damages,  
so the above limitation or exclusion may not apply to you.  
8. The only warranties for HP products and services are set forth in  
the express warranty statements accompanying such products  
and services . Nothing herein should be construed as constituting  
an additional warranty.HP shall not be liable for technical or  
editorial errors or omissions contained herein.  
FOR CONSUMER TRANSACTIONS IN AUSTRALIA AND NEW  
ZEALAND: THE WARRANTY TERMS CONTAINED IN THIS STATEMENT,  
EXCEPT TO THE EXTENT LAWFULLY PERMITTED, DO NOT EXCLUDE,  
RESTRICT OR MODIFY AND ARE IN ADDITION TO THE MANDATORY  
STATUTORY RIGHTS APPLICABLE TO THE SALE OF THIS PRODUCT TO  
YOU.  
234 A: Assistance, Batteries, Memory, and Service  
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Service  
Europe  
Country :  
Austria  
Belgium  
Denmark  
Eastern Europe  
countries  
Finland  
Telephone numbers  
+43-1-3602771203  
+32-2-7126219  
+45-8-2332844  
+420-5-41422523  
+35-89640009  
France  
Germany  
Greece  
Holland  
Italy  
Norway  
Portugal  
Spain  
+33-1-49939006  
+49-69-95307103  
+420-5-41422523  
+31-2-06545301  
+39-02-75419782  
+47-63849309  
+351-22 9570200  
+34-915-642095  
+46-851992065  
+41-1-4395358 (German)  
+41-22-8278780 (French)  
+39-02-75419782 (Italian)  
+420-5-41422523  
+44-207-4580161  
+420-5-41422523  
+27-11-2376200  
+32-2-7126219  
Sweden  
Switzerland  
Turkey  
UK  
Czech Republic  
South Africa  
Luxembourg  
Other European  
countries  
+420-5-41422523  
Asia Pacific Country :  
Telephone numbers  
Australia  
Singapore  
+61-3-9841-5211  
+61-3-9841-5211  
L.America  
Country :  
Telephone numbers  
Argentina  
Brazil  
0-810-555-5520  
Sao Paulo 3747-7799;  
ROTC 0-800-157751  
A: Assistance, Batteries, Memory, and Service 235  
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Mexico  
Mx City 5258-9922;  
ROTC 01-800-472-6684  
0800-4746-8368  
800-360999  
Venezuela  
Chile  
Columbia  
Peru  
9-800-114726  
0-800-10111  
Central America  
& Caribbean  
Guatemala  
Puerto Rico  
Costa Rica  
1-800-711-2884  
1-800-999-5105  
1-877-232-0589  
0-800-011-0524  
N.America Country :  
Telephone numbers  
U.S.  
Canada  
1800-HP INVENT  
(905)206-4663 or 800-HP INVENT  
ROTC = Rest of the country  
Please logon to http://www.hp.com for the latest service and support  
information.  
236 A: Assistance, Batteries, Memory, and Service  
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Regulatory information  
This section contains information that shows how the hp 17bII+  
Financial calculator complies with regulations in certain regions. Any  
modifications to the calculator not expressly approved by  
Hewlett-Packard could void the authority to operate the 17bII+ in these  
regions.  
USA  
This calculator generates, uses, and can radiate radio frequency energy  
and may interfere with radio and television reception. The calculator  
complies with the limits for a Class B digital device, pursuant to Part 15  
of the FCC Rules. These limits are designed to provide reasonable  
protection against harmful interference in a residential installation.  
However, there is no guarantee that interference will not occur in a  
particular installation. In the unlikely event that there is interference to  
radio or television reception(which can be determined by turning the  
calculator off and on), the user is encouraged to try to correct the  
interference by one or more of the following measures:  
Reorient or relocate the receiving antenna.  
Relocate the calculator, with respect to the receiver.  
Canada  
This Class B digital apparatus complies with Canadian ICES-003.  
Cet appareil numerique de la classe B est conforme a la norme  
NMB-003 du Canada.  
Japan  
この装置は、情報処理装置等電波障害自主規制協議会(VCCI)の基準  
に基づく第二情報技術装置です。この装置は、家庭環境で使用することを  
目的としていますが、この装置がラジオやテレビジョン受信機に近接して使  
用されると、受信障害を引き起こすことがあります。  
取扱説明書に従って正しい取り扱いをしてください。  
Noise Declaration  
In the operator position under normal operation (per ISO 7779): LpA <  
70dB.  
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B
More About Calculations  
IRR% Calculations  
The calculator determines IRR% for a set of cash flows using  
mathematical formulas that “search” for the answer. The process finds a  
solution by estimating an answer and then using that estimate to do  
another calculation—in mathematical terms, this is called an iterative  
process.  
In most cases, the calculator finds the desired answer, since there is  
usually only one solution to the calculation. However, calculating IRR%  
for certain sets of cash flows is more complex. There may be more than  
one mathematical solution to the problem, or there may be no solution.  
In these cases, the calculator displays a message to help you interpret  
what has happened.  
Possible Outcomes of Calculating IRR%  
These are the possible outcomes of an IRR% calculation for which you  
have not stored a guess.  
Case 1: The calculator displays a positive answer. This is the only  
positive answer. However, one or more negative answers may exist.  
Case 2: The calculator finds a negative answer but a single positive  
solution also exists. It displays:  
    
     
To see the negative answer, press  
. To search for that positive  
<
answer, you must input a guess. (Refer to “Storing a Guess for IRR%”;  
below). There might also be additional negative answers.  
Case 3: The calculator displays a negative answer and no message.  
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This is the only answer.  
Case 4: The calculator displays the message:  
    
     
The calculation is very complex. It might involve more than one  
positive or negative answer, or there may be no solution. To continue  
the calculation, you must store a guess.  
Case 5: The calculator displays:  
   
There is no answer. This situation might be the result of an error, such  
as a mistake in keying in the cash flows. A common mistake is to put  
the wrong sign for a cash flow. A valid cash flow series must have at  
least one positive and one negative cash flow.  
Halting and Restarting the IRR% Calculation  
The search for IRR% may take a relatively long time. You can halt the  
calculation at any time by pressing any key. The calculator then displays  
the current estimate for IRR%. You can resume the calculation by:  
Pressing  
while the current estimate is displayed in the  
s
calculator line. This continues the calculation from where it left off.  
Storing a guess for IRR%, discussed below.  
Storing a Guess for IRR%  
To enter a guess, key in an estimate of IRR% and then press  
s
.  
You can enter a guess for IRR% at these times:  
Before beginning the calculation. This can reduce the time required to  
calculate an answer.  
After you’ve halted the calculation.  
After the calculator has halted the calculation due to any of the above  
cases. For cases 3 and 5, however, no (other) solutions will be found.  
When calculating IRR% using a guess, the calculator displays the current  
estimate of IRR% and the calculated value of NPV for each iteration. The  
calculation halts when the calculator finds an answer. However, there  
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may be additional positive or negative answers, or no true solution at all.  
You can continue searching for other solutions by halting the calculation  
and entering a different guess.  
One way to obtain a good guess for IRR% is to calculate NPV for  
various interest rates (I%). Since IRR% is the interest rate at which NPV  
equals zero, the best estimate of IRR% is the interest rate that yields the  
value for NPV closest to zero.  
To find a good estimate for IRR%, key in a guess for IRR% and press  
Then, press to calculate NPV for that value. Repeat the  
calculation of NPV for several values of I%, and look for trends in the  
results. Choose as your guess for IRR% a value of I% that produces an  
NPV close to zero.  
Solver Calculations  
As noted in chapter12, the Solver uses two methods to find solutions,  
depending on the complexity of the equation: direct and iterative (an  
indirect). To use all the calculating power included in the Solver, it  
would help to understand, in a general way, how it works.  
Direct Solutions  
When you start a calculation (by pressing a menu key), the Solver first  
tries to find a direct solution by “isolating” the variable you are solving  
for (the unknown). Isolating a variable involves rearranging the equation  
so that the unknown variable is by itself on the left-hand side of the  
equation. For example, suppose you enter the equation:  
P R O F I T = P R I C E C O S T  
If you’ve stored values for PROFIT and PRICE, pressing causes  
the Solver to internally rearrange the equation algebraically to solve for  
COST (COST is the unknown):  
C O S T = P R I C E  
P R O F I T  
Answers calculated this way are called direct solutions.  
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For certain equations, the unknown can be isolated, but an answer  
cannot be calculated with the values stored. Then the calculator displays:  
    
For example, if you enter an equation:  
A R E A L x W  
and then enter values for AREA and W, the Solver rearranges the  
equation to:  
L
A R E A ÷ W  
in order to calculate L. However, if you enter the value zero for W, the  
Solver cannot find an answer because division by zero is not allowed.  
The Solver can isolate the unknown variable if the equation meets these  
conditions:  
The unknown variable occurs only once in the equation.*  
The only functions in which the unknown variable appears are ALOG,  
DATE, DDAYS (actual calendar only), EXP, EXPM1, IF (in then and else  
clauses only), INV, LN, LNP1, LOG, S, SQ, and SQRT.  
The only operators involving the unknown variable are,,x, ÷ , and  
^ (power). If you are solving for a variable raised to a positive, even  
power (for example, A ^ 24), there may be more than one solution.  
However, if the Solver can isolate the variable, it will find one of the  
solutions using the positive root. For example, the Solver rearranges A  
^ 2 4 to A4 and calculates the answer2.†  
The unknown variable does not appear as an exponent.  
Exceptions: (1) Occurrences of the unknown variable as the argument of the S  
*
function are ignored. (2) The unknown variable can appear twice within an IF  
function: once in the then clause and once in the else clause.  
The Solver’s ability to find a solution iteratively can often be enhanced by  
rewriting the equation so that the unknown variable does not appear as a  
divisor. For example, the Solver may more easily solve for A if the equation 1  
÷
× =  
(A ^ 2–A) B is rewritten as (A ^ 2–A) B 1.  
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Iterative Solutions  
If the Solver is not able to isolate the unknown variable, it cannot  
provide a direct solution. In these cases, the Solver searches iteratively  
for a solution.*  
In its iterative search for a solution, the Solver looks for a value that sets  
the left side of the equation equal to the right side. To do this, the Solver  
starts with two initial estimates of the answer, which we’ll call estimate  
#1 and estimate #2. Using estimate #1, the Solver calculates values for  
the left and right side of the equation (LEFT and RIGHT) and calculates  
LEFT minus RIGHT (LEFTRIGHT). Then, the Solver does the same  
calculations for estimate #2. If neither estimate produces a value of zero  
for LEFTRIGHT, the Solver analyzes the results and produces two new  
estimates that it judges to be closer to the answer. By repeating this  
process many times, the Solver narrows in on the answer. During this  
search, the calculator displays the two current estimates and the sign of  
(LEFTRIGHT) for each estimate, as shown.  
Sign of LEFTRIGHT for each estimate  
Since calculators cannot do calculations with infinite precision (the hp  
17bII+ uses 12 digits in its calculations), sometimes the Solver will be  
unable to find an estimate where LEFTRIGHT is exactly zero. However,  
the Solver can distinguish between situations where the current estimate  
could be a solution, and situations where no solution is found.  
Exceptions: (1) Occurrences of the unknown variable as the argument of the S  
*
function are ignored. (2) The unknown variable can appear twice within an IF  
function: once in the then clause and once in the else clause.  
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The iterative search for a solution sometimes takes several minutes. (You  
can halt the search at any time by pressing any key except  
are four possible outcomes:  
) There  
@
Case 1: The calculator displays an answer. This is very likely the true  
solution for the unknown variable.  
There are two situations in which the Solver returns a case 1 answer:  
Case la: LEFTRIGHT is exactly zero.  
Case lb: LEFTRIGHT is not zero for either estimate. However,  
the Solver has found two estimates that cannot get any closer  
together. (Numbers that are as close together as possible are  
called neighbors.) Furthermore, LEFTRIGHT is a positive value  
for one estimate and a negative value for the other estimate.  
Case 1a:  
Case 1b:  
and  
is exactly 0.  
is not exactly 0.  
are relatively  
close together. The two estim-  
ates are "neighbors".  
If you want to know whether LEFTRIGHT is exactly zero, press the  
menu key for the unknown variable. If LEFTRIGHT is not equal to  
zero, the calculator displays the values of LEFT and RIGHT.  
The equation could have more than one iterative solution. If the  
answer does not seem reasonable, enter one or two guesses and  
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restart the search.  
Case 2: The calculator displays the values of LEFT and RIGHT, which  
are unequal. To see the calculator’s result, press  
or  
. If LEFT  
< C  
and RIGHT are relatively close to one another in value, the result is  
probably a true solution. Otherwise, the result is probably not a true  
solution.  
If the result seems unreasonable, it could be because the equation has  
more than one solution. You might want to enter one or two guesses  
and restart the search.  
If you want to obtain additional information about the answer, press  
and hold down the menu key for the unknown variable until the numbers  
in the display stop changing. At this point, the Solver is displaying the  
final estimates and the signs of LEFTRIGHT for each estimate.  
This information can be helpful:  
Case 2a: If the signs of LEFTRIGHT are opposite, and the two  
estimates are as close together as two 12-digit numbers can get  
(neighbors), the Solver found two estimates that “bracket” an  
ideal solution (a solution where LEFTRIGHT equals zero). If LEFT  
and RIGHT are relatively close together, the answer is probably a  
solution.  
Case 2b: If the signs of LEFTRIGHT are opposite, and the two  
estimates are not neighbors, be very cautious about accepting the  
answer as a solution. If LEFT and RIGHT are relatively close  
together, the answer is probably a solution.  
Case 2c: If LEFTRIGHT for the two estimates have the same sign,  
the Solver has halted because it could find no estimates that  
further reduced the magnitude of LEFTRIGHT. Be very cautious  
about accepting the answer. If the values of LEFT and RIGHT are  
not relatively close to one another, you should reject the answer.  
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Case 2a:  
Case 2b:  
have opposite  
have opposite  
signs. The two estimates are  
far apart.  
signs. The two estimates are  
"neighbors".  
Case 2c:  
have the same  
sign..  
Case 3: The calculator displays:  
   
     
The Solver is unable to begin its iterative search for a solution using  
the current initial estimates (guesses). You might find a solution by  
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entering different estimates. The closer you can estimate the answer,  
the more likely that the Solver will find a solution.  
Case 4: The calculator displays:  
    
The Solver is unable to find a solution. Check your equation to make  
sure you have made no errors in entering it. Also check the value of  
each known variable. If your equation and variables are correct, you  
might be able to find a solution by entering very good guesses.  
Equations Used by Built-in Menus  
Actuarial Functions  
nnumber of compounding periods.  
i%periodic interest rate, expressed as a percentage.  
Single Payment Present Value Function  
(Present value of a single $1.00 payment made after n periods.)  
n  
i%  
100  
SPPV (i% : n) 1    
Single Payment Future Value Function  
(Future value after n periods of a single $1.00 payment.)  
n  
i%  
100  
SPFV (i% : n) 1 +  
Uniform Series Present Value Function  
(Present value of a $1.00 payment that occurs n times.)  
n  
i%  
100  
1
 
 1  
 
+   
USPV (i% : n) =  
i%  
100  
Uniform Series Future Value Function  
(Future value of a $1.00 payment that occurs n times.)  
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n  
i%  
100  
i%  
1
 
+   
 
 1  
USFV (i% : n) =  
100  
Percentage Calculations in Business (BUS)  
NEW OLD  
%CHANGE =  
× 100  
OLD  
PART  
TOTAL  
%TOTAL =  
× 100  
PRICE COST  
COST  
MARKUP%C =  
× 100  
PRICE COST  
PRICE  
MARKUP%P =  
× 100  
Time Value of Money (TVM)  
S = payment mode factor (0 for End mode; 1 for Begin mode).  
I%YR  
i% =  
P/YR  
i% × S  
100  
0 PV + 1 +  
× PMT × USPV(i%:n) FV × SPPV(i% : n)  
Amortization  
INTaccumulated interest  
PRINaccumulated principal  
iperiodic interest rate  
BAL is initially PV rounded to the current display setting.  
PMT is initially PMT rounded to the current display setting.  
I%YR  
i =  
P /YR × 100  
For each payment amortized:  
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INT’ BAL x i (INT’ is rounded to the current display setting;  
INT’ 0 for period 0 in Begin mode)  
INT INT’ (with sign of PMT )  
PRIN PMT + INT’  
PRIN PMT + INT’  
BALnew BALold + PRIN  
INTnew INTold + INT  
PRINnew PRIN old + PRIN  
Interest Rate Conversions  
Periodic compounding  
P  
NOM%  
100 × P  
EFF% 1 +  
1 × 100  
Continuous compounding  
NOM%  
100  
EFF% =  
e
1 × 100  
Cash-Flow Calculations  
j the group number of the cash flow.  
CFj amount of the cash flow for group j.  
nj #TIMES the cash flow occurs for group j.  
k the group number of the last group of cash flows.  
Nj =  
n
= total number of cash flows prior to group j  
l
1l <j  
k
NPV CF + (CF x USPV(i% : n ) x SPPV(i% : N ))  
0
j
j
j
j=1  
When NPV = 0, the solution for i% is IRR%.  
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k
NFV NPV × SPFV(i% : N) where N =  
n
j
j=1  
NPV  
NUS =  
USPV(i% : N)  
k
TOTAL (n × CF )  
j
j
j=0  
Bond Calculations  
Reference: Lynch, John J., Jr. and Jan H. Mayle, Standard Securities  
Calculation Methods, Securities Industry Association, New York, 1986.  
Aaccrued days, the number of days from beginning of coupon period  
to settlement date.  
Enumber of days in coupon period bracketing settlement date. By  
convention, E is 180 (or 360) if calendar basis is 30/360.  
DSCnumber of days from settlement date to next coupon date. (DSC=  
EA).  
Mcoupon periods per year ( 1 annual, 2 semiannual),  
Nnumber of coupon periods between settlement and redemption dates.  
If N has a fractional part (settlement not on coupon date), then  
round it to the next higher whole number.  
Yannual yield as a decimal fraction, YLD% / 100.  
For one or fewer coupon period to redemption:  
CPN%  
M
CALL +  
A
E
CPN%  
M
PRICE =  
×
DSC  
Y
1 +  
×
E
M
For more than one coupon period to redemption:  
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CALL  
PRICE =  
DSC  
E
1 +  
Y
N  
1 +  
M
CPN%  
M
N
A
E
CPN%  
M
×
DSC  
E
K  
1 +  
K =1  
Y
1 +  
M
The “end-of-month” convention is used to determine coupon dates in the  
following exceptional situations. (This affects calculations for YLD%,  
PRICE, and ACCRU.)  
If the maturity date falls on the last day of the month, then the coupon  
payments will also fall on the last day of the month. For example, a  
semiannual bond that matures on September 30 will have coupon  
payment dates on March 31 and September 30.  
If the maturity date of a semiannual bond falls on August 29 or 30,  
then the February coupon payment dates will fall on the last day of  
February (28, or 29 in leap years).  
Depreciation Calculations  
For the given year, YR#:  
ACRS%  
ACRS =  
× BASIS  
100  
BASIS SALV  
SL =  
LIFE  
BASIS SALV  
SOYD =  
× (LIFE YR # + 1)  
(LIFE + 1)  
LIFE ×  
2
1)  
BASIS × FACT %/100  
(FACT %/100)(YR #  
DB =  
×
1 −  
LIFE  
LIFE  
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For the last year of depreciation, DB equals the remaining depreciable  
value for the prior year.  
Sum and Statistics  
nnumber of items in the list.  
x’an element of the sorted list.  
Σxi  
n
TOTAL = Σxi  
MEAN = x =  
n + 1  
MEDIAN = xj  
for odd n, where j =  
2
(xj + xj  
)
n
2
+ 1  
MEDIAN =  
for even n, where j =  
2
Σ(xi x)2  
n 1  
STDEV =  
Σ (yi - xi )  
Σyi xi2 (Σyi ) x2  
W.MN =  
G.SD =  
Σyi  
RANGE  
(Σyi ) 1  
MAX  
MIN  
Forecasting  
Model  
Transformation  
Xi  
Yi  
LIN  
EXP  
LOG  
PWR  
y = B + Mx  
y = BeMx  
y = B + Mx  
xi  
xi  
ln xi  
ln xi  
yi  
ln yi  
yi  
In y = ln B + Mx  
y = B + M ln x  
ln y = ln B + M ln x  
y = B + M ln x  
y = BxM  
ln yi  
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ΣXi  
n
ΣY  
n
i
Let:  
X =  
Y =  
SX2 = Σ (Xi X)2  
SX2 = Σ (Y Y )2  
i
SXY = Σ (Xi X) (Y Y )  
i
SXY  
SX2  
Then:  
M =  
B = b for LIN and LOG models, and  
B = eb for EXP and PWR models,  
where b = Y M X  
SXY  
SX2 × SY2  
CORR =  
Equations Used in Chapter 14  
Canadian Mortgages  
N   
1 (1 + r)  
PV = − PMT  
FV (1 + r)N  
r
1
6
CI%YR  
200  
where: r = 1 +  
1  
N = total number of monthly payments  
CI%YR = annual interest rate (as a percent)  
PV = loan amount  
PMT = monthly payment  
FV = balloon payment  
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Odd-Period Calculations  
DAYS  
30  
PV 1 + i ×  
=
N   
1 (1 + i)  
(1 + i × S) × PMT ×  
FV(1 + i)N  
i
Where:  
PV = loan amount  
i = periodic interest rate as a decimal  
DAYS = actual number of days until the first payment  
PMT = periodic payment amount  
N = total number of payments  
FV = balloon payment amount  
S = 1 if DAYS < 30  
S = 0 if DAYS 30  
Advance Payments  
PV FV (1 + i)N  
PMT =  
(N  
# ADV )  
1 (1 + i)  
+ #ADV  
i
where: PMT = payment amount  
PV = loan amount  
FV = balloon payment amount  
i = periodic interest rate (as a decimal)  
N = total number of payments  
#ADV = number of payments made in advance  
Modified Internal Rate of Return  
1n  
NFVP  
NPVN  
MIRR = 100  
1  
where:  
n = total number of compounding periods  
NFVP = net future value of positive cash flows  
NPVN = net present value of negative cash flows  
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C
Menu Maps  
The following maps show how to display each of the menus. There is a  
map for each menu label in the MAIN menu and for each menu found  
on the keyboard. The menu labels for variables are enclosed in boxes to  
illustrate how they are used:  
Variable used to store and calculate values.  
Variable used to calculate or display values; cannot be  
used to store values.  
Variable used to store values; cannot be used to calculate  
values.  
BUS  
%CHG  
NEW  
%TOTL  
PART  
MU%C  
MU%P  
OLD  
%CH  
COST PRICE  
M%C  
TOTAL  
COST PRICE  
%T  
M%P  
Figure C-1. BUS Menu  
254 C: Menu Maps  
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CURRX  
RATE  
CURR1  
CURR2  
C.STO C.RCL  
SELCT  
Currencies  
Figure C-2. CURRX Menu  
C: Menu Maps 255  
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FIN  
TVM  
ICNV  
CFLO  
NOM%  
EFF%  
CALC  
P
NOM%  
EFF%  
INSR DELET NAME GET  
NEW  
Names of Lists  
IRR%  
PMT  
TOTAL  
NPV  
NUS  
NFV  
I%  
N
I%YR  
PV  
FV  
OTHER  
P/YR  
BEG  
END  
AMRT  
#P  
INT  
PRIN  
FIRST  
NEXT TABLE  
BAL  
LAST  
INCR  
GO  
Figure C-3. FIN Menu  
256 C: Menu Maps  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
FIN  
BOND  
DEPRC  
BASIS  
SALV  
MAT  
LIFE  
ACRS  
MORE  
MORE  
YR#  
DB  
SOYD  
SL  
TYPE  
SETT  
MORE  
YLD% PRICE  
360  
A/A  
SEMI  
ANN  
Figure C-3 (continued). FIN Menu  
C: Menu Maps 257  
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SUM  
CALC  
INSR  
DELET NAME GET  
TOTAL  
ALPHA-Edit menu*  
ALPHA menu*  
Names of lists  
MORE  
RANG  
TOTAL MEAN MEDN  
SORT FRCST MORE  
(Select x and y)  
MIN  
y-list  
MAX  
**  
x-list  
CORR  
M
B
MORE  
MODL W.MN  
G.SD  
SIZE MORE  
LIN  
LOG  
EXP  
PWR  
MORE  
Figure C-4. SUM Menu  
For the complete menu, see pages 30-31.  
*
258 C: Menu Maps  
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TIME  
APPT  
SET  
CALC  
APT1 APT2 ...MORE ...  
A/PM MSG  
RPT  
HELP  
TIME  
MIN  
A/PM M/D 12/24 HELP  
360D 365D  
DATE1  
DAYS  
Figure C-5. TIME Menu*  
For the complete menu, see pages 30-31.  
*
C: Menu Maps 259  
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SOLVE  
NEW  
CALC  
EDIT  
*
ALPHA-Edit menu*  
ALPHA menu*  
Figure C-6. SOLVE Menu  
DISP  
.
,
FIX  
ALL  
MATH  
LOG  
LN  
EXP  
N!  
PI  
MODES  
BEEP  
PRNT  
STK  
DBL  
ALG  
RPN  
INTL  
PRINTER  
LIST  
REGS  
TIME  
MSG  
TRACE  
Figure C-7. DSP, MATH, MODES, and PRINTER Menus  
For the complete menu, see pages 30-31.  
*
260 C: Menu Maps  
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D
RPN: Summary  
About RPN  
The RPN appendixes (D, E, and F) are especially for those of you who  
want to use or learn RPN—Hewlett-Packard’s original Reverse Polish  
Notation for operating calculators. This calculator can use either RPN or  
algebraic logic for calculations—you choose which.  
HP’s RPN operating logic is based on an unambiguous,  
parentheses-free mathematical logic known as “Polish Notation,”  
developed by the Polish logician Jan Łukasiewicz (18781956).  
While conventional algebraic notation places the operators between the  
relevant numbers or variables, Łukasiewicz’s notation places them  
before the numbers or variables. For optimal efficiency of the stack, we  
have modified that notation to specify the operators after the numbers.  
Hence the term Reverse Polish Notation, or RPN.  
Except for the RPN appendixes, the examples and keystrokes in this  
manual are written entirely using Algebraic (ALG) mode.  
About RPN on the hp 17bII+  
This appendix replaces much of chapter 2, “Arithmetic.” It assumes that  
you already understand calculator operation as covered in chapter 1,  
“Getting Started.” Only those features unique to RPN mode are  
summarized here:  
RPN mode.  
RPN functions.  
RPN arithmetic, including percentages and  
arithmetic.  
and  
s R  
D: RPN: Summary 261  
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All other operationsincluding the Solverwork the same in RPN and  
ALG modes. (The Solver uses algebraic logic only.)  
For more information about how RPN works, see appendix E, “RPN: The  
Stack.” For RPN keystrokes of selected examples from chapter 14, see  
appendix F, “RPN: Selected Examples.” Continue reading in chapter 2  
to learn about the other functionality of your calculator.  
Watch for this symbol in the margin earlier in the manual.  
It identifies keystrokes that are shown in ALG mode and  
must be performed differently in RPN mode. Appendixes D,  
E, and F explain how to use your calculator in RPN mode.  
v
The mode affects only arithmetic calculationsall other  
operations, including the Solver, work the same in RPN and ALG  
modes.  
Setting RPN Mode  
The calculator operates in either RPN (Reverse Polish Notation) or ALG  
(Algebraic) mode. This mode determines the operating logic used for  
arithmetic calculations.  
To select RPN mode: Press  
.  
@>  
The calculator responds by displaying  
. This mode remains  
   
until you change it. The display shows the X register from the stack.  
To select ALG mode: Press  
. The calculator displays  
@>  
.
   
262 D: RPN: Summary  
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Where the RPN Functions Are  
Function  
Name  
Definition  
Key to Use  
ENTER  
Enters and separates one  
number from the next.  
=
LASTX  
Recalls last number in  
X-register.  
@L  
R↓  
Rolls down stack contents.  
(same as  
~ (  
)
R↑  
Rolls up stack contents.  
(except in lists)  
[
X < > Y  
X-register exchanges with  
Y-register.  
(same as  
x )  
)
CHS  
Changes sign.  
&
D: RPN: Summary 263  
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Using INPUT for ENTER and for R. Except in CFLO and SUM lists,  
the  
key also performs the  
function and the  
key also  
I
E
]
performs the  
function.  
~
In lists:  
stores numbers. Use  
to enter numbers into the  
I
=
stack during arithmetic calculations.  
In lists: and move through lists. Use  
to roll through stack  
[ ]  
~
contents.  
Doing Calculations in RPN  
Arithmetic Topics Affected by RPN Mode  
This discussion of arithmetic using RPN replaces those parts of chapter 2  
that are affected by RPN mode. These operations are affected by RPN  
mode:  
Two-number arithmetic (  
,
,
,
,
+*-/u  
).  
The percent function ( ).  
%
The LAST X function ( ). See appendix E.  
@L  
RPN mode does not affect the MATH menu, recalling and storing  
numbers, arithmetic done inside registers, scientific notation, numeric  
precision, or the range of numbers available on the calculator, all of  
which are covered in chapter 2.  
Simple Arithmetic  
Here are some examples of simple arithmetic. Notice that  
separates numbers that you key in.  
E
The operator (  
,
, etc.) completes the calculation.  
+-  
One-number functions (such as  
) work the same in ALG and RPN  
v
modes.  
264 D: RPN: Summary  
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To select RPN mode, press  
.  
@>  
To Calculate:  
Press:  
Display:  
12 + 3  
12 – 3  
12 x 3  
12 ÷ 3  
122  
12  
12  
3
E +  
  
  
3
E -  
12  
12  
12  
12  
12  
3
E *  
  
  
3
E /  
  
  
@w  
@v  
@t  
12  
1/12  
  
You do not need to use  
before an operator, only between  
E
keyed-in numbers. Key in both numbers (separated by  
) before  
E
pressing the operator key.  
The Power Function (Exponentiation). The power function uses the  
keys.  
@u  
To Calculate:  
Press:  
Display:  
123  
12  
3
E @u  
  
  
121/3 (cube root)  
12  
3
E @t@u  
The Percent Function. The  
key calculates percentages without using  
%
the  
key. Combined with  
or  
+ -  
, it adds or subtracts percentages.  
*
To Calculate:  
Press:  
Display:  
27% of 200  
200  
200  
25  
27  
E %  
  
  
  
200 less 27%  
27  
E %-  
12% greater than 25  
12  
E %+  
Compare these keystrokes in RPN and ALG modes:  
D: RPN: Summary 265  
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RPN Mode  
ALG Mode  
27% of 200  
200  
200  
27  
E %  
200  
200  
27  
* %=  
200 less 27%  
27  
27  
E %- - %=  
Calculations with STO and RCL  
The store (  
) and recall (  
) operations work identically in ALG  
s
R
and RPN modes (see “Storing and Recalling Numbers” and “Doing  
Arithmetic Inside Registers and Variables” in chapter 2). The keystrokes  
are the same for simple storing and recalling and for doing arithmetic  
inside registers and variables.  
When doing arithmetic in the display with values from storage registers  
and variables, remember to use RPN. Compare these keystrokes in RPN  
and ALG modes:  
RPN Mode  
ALG Mode  
Store2 x 3 in  
register 5  
2
3
&E *s &* =s  
2
3
5
5
Find PV2  
   
   
R
R
R
R
2  
2
-
- =  
   
Find PV less 2%  
   
R
2  
2
- %=  
%-  
Find PMT x N  
   
   
R
R
*R  
=
*
Chain CalculationsNo Parentheses!  
The speed and simplicity of calculating using RPN are apparent during  
chain calculationslonger calculations with more than one operation.  
The RPN memory stack (refer to appendix E) stores intermediate results  
until you need them, then inserts them into the calculation.  
266 D: RPN: Summary  
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The cube root example and the percentage addition example (previous  
topics) are two simple examples of chain calculations.  
For another example, calculate  
7 x (12 + 3)  
Start the calculation inside the parentheses by finding 12 + 3. Notice  
that you don’t need to press  
to save this intermediate result (15)  
E
before proceeding. Since it is a calculated result, it is saved  
automaticallywithout using parentheses.  
Keys:  
Display:  
Description:  
12  
3
E +  
  
Intermediate result.  
7
  
Pressing the function key  
produces the answer.  
*
Now study these examples. Note the automatic storage and retrieval of  
intermediate results.  
To Calculate:  
Press:  
Display:  
  
  
(750 x 12) ÷ 360  
360 ÷ (750 x 12)  
750  
12  
360  
E * /  
360  
or  
750  
E E */  
12  
750  
456  
12  
E * x/  
360  
{(45675) ÷ 18.5}  
x (68 ÷ 1.9)  
75  
18.5  
E - /  
68  
1.9  
E /*  
  
  
(34) x (56)  
3
4
E + E +*  
5
6
D: RPN: Summary 267  
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E
RPN: The Stack  
This appendix explains how calculations take place in the automatic  
memory stack and how this method minimizes keystrokes in complicated  
calculations.  
What the Stack Is  
Automatic storage of intermediate results is the reason that RPN mode  
easily processes complicated calculationswithout using parentheses.  
The key to automatic storage is the automatic RPN memory stack.  
The memory stack consists of up to four storage locations, called  
registers, which are “stacked” on top of each other. It is a work area for  
calculations. These registerslabeled X, Y, Z, and Tstore and  
manipulate four current numbers. The “oldest” number is the one in the  
T-(top) register.  
T
Z
Y
X
0.00 “Oldest” number  
0.00  
0.00  
0.00 Displayed (most “recent” number)  
The most “recent” number is in the X-register: This is the number you see  
in the display.  
268 E: RPN: The Stack  
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Reviewing the Stack (Roll Down)  
The  
(roll down) function (on the  
key) lets you review the entire  
(
~
contents of the stack by “rolling” the contents downward, one register at  
a time. While in RPN mode you don’t need to press the shift key for  
.
~
The  
key has the same effect as  
. except in a CFLO or SUM list,  
~
]
when  
affects the list and not the stack. Likewise, the  
key rolls the  
]
[
contents of the stack upward, except in lists.  
Rolling a Full Stack. Suppose the stack is filled with 1, 2, 3, 4 (press 1  
4). Pressing four times rolls the numbers all  
2
3
E E E  
~
the way around and back to where they started:  
T
Z
Y
X
1
2
3
4
4
1
2
3
3
4
1
2
2
3
4
1
1
2
3
4
~ ~ ~ ~  
When you press  
, the value in the X-register rotates around into the  
~
T-register. Notice that the contents of the registers are rolled, while the  
registers themselves maintain their positions. The calculator displays  
only the X-register.  
Variable Stack Size. Clearing the stack by pressing  
reduces  
@c  
the stack to one register (X) with a zero in it. As you enter numbers, the  
stack builds up again. The and functions roll through as many  
~ [  
registers as currently exist (one, two, three, or four).  
Exchanging the X- and Y-Registers in the Stack  
Another function that manipulates the stack contents is  
(x exchange  
x
y), located on the  
without affecting the rest of the stack. Pressing  
key. It swaps the contents of the X- and Y-registers  
)
again restores the  
x
original order of the contents. While in RPN mode you don’t need to  
press the shift key for  
.
x
E: RPN: The Stack 269  
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The  
function is used primarily to swap the order of numbers in a  
x
calculation. For example, an easy way to calculate 9 ÷ (13x8) is to  
press 13  
8
E * x/  
9
.
ArithmeticHow the Stack Does It  
The contents of the stack move up and down automatically as new  
numbers enter the X-register (lifting the stack), and as operators combine  
two numbers to produce one new number in the X-register (dropping the  
stack). See how a full stack drops, lifts, and drops its contents while  
calculating  
3
4
9
a (lost)  
T
a
b
3
4
a
a
b
7
9
a
a
b
Z
Y
X
a
b
7
3
E
4
2  
+ 9 -  
Drop  
Lift  
Drop  
(a and b represent values already on the stack.)  
Notice that when the stack drops, it replicates the contents of the  
T-register and overwrites the X-register.  
When the stack lifts, it pushes the top contents out of the T-register,  
and that number is lost. This shows that the stack’s memory is limited  
to four numbers for calculations.  
Because of the automatic movement of the stack, you do not need to  
clear the display before doing a new calculation.  
Most functions (except  
and  
) prepare the stack to lift its  
E C  
contents when the next number enters the X-register.  
270 E: RPN: The Stack  
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How ENTER Works  
You know that  
separates two numbers keyed in one after the  
E
other. In terms of the stack, how does it do this? Suppose the stack is  
filled with a, b, c, and d. Now enter and add two new numbers:  
5
6
a (lost)  
b (lost)  
T
a
b
c
b
c
c
d
5
6
c
c
Z
Y
X
c
d
5
d
5
5
d
d
11  
5 E 6 +  
Lift  
Lift  
No lift  
Drop  
replicates the contents of the X-register into the Y-register. The  
E
next number you key in (or recall) writes over (instead of lifting) the copy  
of the first number left in the X-register. The effect is simply to separate  
two sequentially entered numbers.  
Using a Number Twice in a Row. You can use the replicating feature of  
to other advantages. To add a number to itself, key in the number  
E
and press  
.
E+  
Filling the Stack with a Constant. The replicating effect of  
,
E
together with the replicating effect (from T into Z) of stack drop, allows  
you to fill the stack with a numeric constant for calculations.  
Example: Constant, Cumulative Growth. The annual sales of a small  
hardware company are projected to double each year for the next 3  
years. If the current sales are $84,000, what are the annual sales for  
each of the next 3 years?  
1. Fill the stack with the growth rate (2  
).  
EEE  
2. Key in the current sales in thousands (84).  
E: RPN: The Stack 271  
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3. Calculate future sales by pressing  
for each of the next 3 years.  
*
2
2
2
2
2
2
2
2
2
2
2
2
2
2
E
E
2
2
2
84  
168  
336  
672  
E 84 * * *  
Sales for the next 3 years are projected to be $168,000; $336,000;  
and $672,000.  
Clearing Numbers  
Clearing One Number. Clearing the X-register puts a zero in it. The  
next number you key in (or recall) writes over this zero.  
There are two ways to clear the number in the X-register:  
Press  
.
<
Press  
.
C
For example, if you wanted to enter 1 and 3 but mistakenly entered 1  
and 2, these keystrokes would correct it:  
1
1
1
2
1
0
1
3
1
1 E 2 < 3  
Clearing the Entire Stack. Pressing  
clears the X-register to  
@c  
zero and eliminates the Y-, Z-, and T-registers (reducing the size of the  
stack to one register). The stack expands again when you enter more  
numbers.  
272 E: RPN: The Stack  
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T
a
b
c
Z
Y
X
d
0.00  
@c  
Because of the automatic movement of the stack, it is not necessary to  
clear the stack before starting a calculation. Note that if an application  
menu is currently displayed, pressing  
application’s variables.  
also clears the  
@c  
The LAST X Register  
Retrieving Numbers from LAST X  
The LAST X register is a companion to the stack: It stores the number that  
had been in the X-register just before the last numeric operation (such as  
a
operation). Pressing  
returns this value to the X-register.  
*
@L  
This ability to recall the “last x” value has two main uses:  
Correcting errors: retrieving a number that was in the X-register just  
before an incorrect calculation.  
Reusing a number in a calculation.  
Reusing Numbers  
You can use  
to reuse a number (such as a constant) in a  
@L  
calculation. Remember to enter the constant second, just before  
executing the arithmetic operation, so that the constant is the last  
number in the X-register, and therefore can be saved and retrieved with  
.
@L  
96.74+ 52.39  
Example: Calculate  
52.39  
E: RPN: The Stack 273  
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Keys:  
Display:  
Description:  
96.74  
52.39  
  
  
  
E
+
Intermediate result.  
Retrieves the number  
@L  
before the  
operation,  
+
saved in LAST X.  
Final result.  
  
/
Chain Calculations  
The automatic lifting and dropping of the stack’s contents let you retain  
intermediate results without storing or reentering them, and without  
using parentheses. This is an advantage the RPN stack has over  
algebraic calculator logic. Other features of RPN include the following:  
You never work with more than two numbers at a time.  
separates two numbers keyed in sequentially.  
E
Pressing an operator key executes that operation immediately.  
Intermediate results appear as they are calculated, so you can check  
each step as you go.  
Intermediate results are automatically stored. They reappear  
automatically as they are needed for the calculationthe last result  
stored is the first to come back out.  
You can calculate in the same order as you would with pencil and  
paperthat is, from the innermost parentheses outward:  
4 ÷ [ 1 4 ( 7 x 3 ) 2 ] 0 . 1 2  
can be solved as 7  
3
14  
2
4
E * + - x/  
274 E: RPN: The Stack  
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Exercises  
Here are some extra problems that you can do to practice using RPN.  
Calculate: (14 + 12) x (18 – 12) ÷ (9 – 7)78.00  
A Solution: 14  
12  
E + E -* E -/  
18  
12  
9
7
Calculate: 232 (13 x 9) + 1/7412.14  
A Solution: 23 13  
9
@w E *- @t+  
7
Calculate:  
(5.4×0.8)÷(12.5- 0.73 ) = 0.60  
A
x-/@v  
Solution: 5.4 .8 .7  
3
E * E @u  
12.5  
or  
5.4  
.8  
E * E E @u-/@v  
12.5  
.7  
3
8.33×(4- 5.2) ÷[(8.33-7.46)×0.32]  
Calculate:  
= 4.57  
4.3×(3.15-2.75)-(1.71×2.01)  
A Solution: 4  
5.2 8.33  
7.46  
2.01  
.32  
E - *@L - */  
3.15  
2.75  
E - * E *-/@v  
4.3  
1.71  
E: RPN: The Stack 275  
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F
RPN: Selected Examples  
The following examples selected from chapter 14 (“Additional  
Examples”) have been converted to RPN keystrokes. These examples  
illustrate how to convert algebraic to RPN keystrokes in less common  
situations: with  
, with  
% R  
, and in a CFLO list.  
Example: Simple Interest at an Annual Rate. Your good friend needs a  
loan to start her latest enterprise and has requested that you lend her  
$450 for 60 days. You lend her the money at 7% simple annual interest,  
to be calculated on a 365-day basis. How much interest will she owe  
you in 60 days, and what is the total amount owed?  
Keys:  
Display:  
Description:  
450  
7
E %  
  
  
Annual interest.  
Actual interest for 60  
days.  
60  
365  
* /  
450  
Adds principal to get  
total debt.  
  
+
Example: APR for a Loan with Fees. A borrower is charged two points  
for the issuance of a mortgage. (One point is equal to 1% of the  
mortgage amount.) If the mortgage amount is $60,000 for 30 years  
and the interest rate is 11½% annually with monthly payments, what  
APR is the borrower paying?  
1. Since the payment amount is not given, calculate it (PMT) first. Use the  
given mortgage amount (PV = $60,000) and interest rate (I%YR =  
11½%).  
2. To find the APR (the new I%YR), use the PMT calculated in step 1 and  
276 F: RPN: Selected Examples  
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adjust the mortgage amount to reflect the points paid (PV = $60,000  
2%). All other values remain the same (term is 30 years; no future  
value).  
Keys:  
Display:  
Description:  
   
If necessary, sets 12  
payments per year and  
End mode.  
@c  
e
    
  
30  
  
Figures and stores number  
of payments.  
@
11.5   
Stores interest rate and  
amount of loan.  
60000   
  
0   
No balloon payment, so  
future value is zero.  
Borrower’s monthly  
payment.  
  
  
Stores actual amount of  
money received by  
borrower into PV.  
Calculates APR.  
R
2
%-  
  
  
Example: Loan from the Lender’s Point of View. A $1,000,000  
10-year, 12% (annual interest) interest-only loan has an origination fee  
of 3 points. What is the yield to the lender? Assume that monthly  
payments of interest are made. (Before figuring the yield, you must  
calculate the monthly PMT = (loan x 12%) ÷ 12 mos.) When calculating  
the I%YR, the FV (a balloon payment) is the entire loan amount, or  
$1,000,000, while the PV is the loan amount minus the points.  
F: RPN: Selected Examples 277  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Keys:  
Display:  
Description:  
   
If necessary, sets 12  
payments per year and  
End mode.  
@c  
e
    
  
10  
  
Stores total number of  
payments.  
@
1000000  
Calculates annual interest  
on $1,000,000.  
E
12  
  
%
12  
  
Calculates, then stores,  
monthly payment.  
/
1000000  Stores entire loan amount  
as balloon payment.  
3
Calculates, then stores,  
amount borrowed (total -  
points).  
%-&  
  
  
Calculates APR—the yield  
to lender.  
Example: Savings for College. Your daughter will be going to college  
in 12 years and you are starting a fund for her education. She will need  
$15,000 at the beginning of each year for four years. The fund earns  
9% annually, compounded monthly. You plan to make monthly deposits,  
starting at the end of the current month. How much should you deposit  
each month to meet her educational expenses?  
See figures 14-1 and 14-2 (chapter 14) for the cash-flow diagrams.  
Remember to press the  
key for  
= E  
while working in a list.  
(Pressing  
will add data to the list, not perform an ENTER.)  
I
278 F: RPN: Selected Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Keys:  
Display:  
Description:  
   
Displays current cash-flow  
list and CFLO menu keys.  
Clears current list or gets a  
new one.  
@c  
or  
   
  
Step 1: Set up a CFLO list.  
Keys:  
Display:  
Description:  
0
  
Sets initial cash flow,  
I
FLOW(0), to zero.  
0
 Stores zero in FLOW(1)  
and prompts for the  
I
number of times it occurs.  
12  
12  
1
E * -  
For  
, press , not  
E =  
  
. Stores 143 (for  
I
I
11 years, 11 months) in  
#TIMES(1) for FLOW(1).  
15000  
 Stores amount of first  
withdrawal, at end of  
12th year.  
I
  
I
0
 Stores cash flows of  
zero ...  
I
... for the next 11 months.  
11  
  
I
15000  
  
Stores second withdrawal,  
for sophomore year.  
II  
F: RPN: Selected Examples 279  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
0
11  
I I  
  
  
Stores cash flows of zero  
for the next 11 months.  
Stores third withdrawal,  
15000  
0
II  
for junior year.  
Stores cash flows of zero  
for the next 11 months.  
11  
  
  
I I  
15000  
Stores fourth withdrawal,  
for senior year.  
II  
   Done entering cash flows;  
   
gets CALC menu.  
e
Step 2: Calculate NUS for the monthly deposit. Then calculate net  
present value.  
Keys:  
Display:  
Description:  
9 12  
E /  
Figures the periodic  
(monthly) interest rate and  
stores it in I%.  
  
  
Amount of monthly deposit  
needed to meet planned  
withdrawals.  
 Calculates the net present  
value of the monthly  
deposits, which is the  
same as the NPV of the  
four future withdrawals.  
Example: Tax-Free Account. Consider opening an IRA account with a  
dividend rate of 8.175%. 1) If you invest $2,000 at the beginning of  
each year for 35 years, how much will you have at retirement? 2) How  
much will you have paid into the IRA? 3) How much interest will you  
have earned? 4) If your post-retirement tax rate is 15%, what is the  
280 F: RPN: Selected Examples  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
after-tax future value of the account? Assume only the interest will be  
taxed (the principal was taxed before deposit). 5) What is the  
purchasing power of that amount, in today’s dollars, assuming an 8%  
annual inflation rate?  
Keys:  
Display:  
Description:  
   
Sets 1 payment per year  
and Begin mode.  
1   
    
  
e
35   
  
Stores number of payment  
periods until retirement (1  
x 35).  
8.175   
  
  
Stores dividend rate.  
Present value of account  
(before first payment).  
Annual payment (deposit).  
Calculates amount in  
account at retirement.  
Calculates total amount  
paid into IRA by  
0   
2000  
  
  
&
R R  
  
*
retirement.  
R +  
  
Calculates interest you will  
earn.  
15  
Taxes at 15% of interest.  
%
  
Subtracts taxes from total  
FV to calculate after-tax  
FV.  
&R  
  
+
Stores after-tax future  
value in FV.  
  
F: RPN: Selected Examples 281  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
8 0   
Calculates present-value  
purchasing power of the  
above after-tax FV at 8%  
inflation rate.  
  
Example: Taxable Retirement Account. If you invest $3,000 each year  
for 35 years, with dividends taxed as ordinary income, how much will  
you have in the account at retirement? Assume an annual dividend rate  
of 8.175% and a tax rate of 28%, and that payments begin today.  
What will be the purchasing power of that amount in today’s dollars,  
assuming 8% annual inflation?  
Keys:  
Display:  
Description:  
   
Displays TVM menu.  
Sets 1 payment per year  
and Begin mode.  
1   
    
  
e
35   
  
Stores years until  
retirement.  
8.175  
28  
E %  
Calculates interest rate  
diminished by tax rate.  
Stores interest rate.  
  
-
  
  
  
  
0   
Stores no present value.  
Stores annual payment.  
Calculates future value.  
Calculates present-value  
purchasing power of the  
above FV at 8% inflation.  
3000  
&
8 0   
  
282 F: RPN: Selected Examples  
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Error Messages  
The calculator beeps and displays an error message under certain  
circumstancesfor example, when you attempt an operation that is not  
allowed.  
The calculator distinguishes between math errors that occur on the  
calculator line and other types of messages by preceding math-error  
messages with the word  
.
  
Press  
or  
C <  
to erase the message and restore the previous  
display.  
   
     
The Solver cannot begin a numerical search using the initial estimates.  
See pages 180 and 239.  
      
To conserve battery power, the calculator will not transmit data to the  
printer until fresh batteries have been installed.  
    
      
Attempted to get another list without first clearing or naming the current  
list. Press  
to clear it or to name it.  
@c  
   
Attempted a calculation using an empty CFLO or SUM list.  
   
   
Error Messages 283  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Attempted to take the base 10 or natural log of a negative number or  
zero. This can happen during curve-fitting calculations if you attempt to  
calculate:  
A logarithmic forecasting model with a negative or zero x-value.  
An exponential model with a negative or zero y-value.  
A power model with a negative or zero x- or y-value.  
   
Attempted to raise a negative number to a non-integer power.  
   
An internal result in a calculation was too large for the calculator to  
handle.  
   
Attempted to take the square root of a negative number or calculate  
G.SD given any negative frequencies.  
   
An internal result in a calculation was too small for the calculator to  
handle.  
   
Attempted to raise zero to a negative power.  
   
Attempted to divide zero by zero.  
   
Attempted to raise zero to the zero power.  
   
Attempted to divide by zero.  
    
284 Error Messages  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
The numbers stored into built-in variables caused a division by zero in  
the calculation. You must change one or more stored values. (Refer to  
the equations in appendix B to see which variables appear in the  
divisor.)  
   
Attempted to calculate standard deviation with only one value in the  
list.  
Attempted to do curve fitting using an x-variable list in which all the  
values are equal.  
Attempted to do curve fitting using the logarithmic or power models  
with a list for which the transformed values of x (ln x) are equal.  
   
The calculator has insufficient memory available to do the operation  
you’ve specified. Refer to “Managing Calculator Memory” on page  
227 for additional information.  
    
One of the following values for interest is less than or equal to100:  
TVM menu: I%YR ÷ P/YR.  
PER menu: NOM% ÷ P (calculating EFF%); EFF% (calculating  
NOM%).  
CONT menu: EFF%.  
CFLO menu: I% (calculating NPV, NUS, or NFV) or estimate of IRR%.  
  
Calculation of I%YR, IRR%, amortization results, a Solver variable, or  
a SUM-list sort was interrupted.  
   
Error Messages 285  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
The number entered cannot be interpreted as a proper date. Check its  
format (page 143).  
Attempted to set a date outside the range 1/1/2000 through  
12/31/2099, or attempted date arithmetic outside the range  
10/15/1582 through 12/31/9999.  
   
The Solver cannot interpret the equation due to a syntax error. Refer to  
“What Can Appear in an Equation,” page 166.  
A variable’s name is invalid. Refer to “Names of Variables,” page  
166.  
   
Attempted to store into a built-in variable a number that is outside the  
range of values permitted for that variable.  
The number entered cannot be interpreted as a proper time.  
The appointment’s repeat interval is out of range.  
Attempted to enter a non-integer, negative number when specifying  
the number of displayed decimal places (in DSP).  
   
Attempted to calculate I%YR with N 0.99999 or N 1010.  
      
     
Calculation of IRR% produced a negative answer, but the calculator has  
determined that there is also a unique positive answer. (Refer to page  
238.)  
   
The calculator has been reset (page 224, 228).  
286 Error Messages  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
     
The calculator is unable to calculate I%YR. Check the values stored in PV,  
PMT, and FV. Make sure the signs of the numbers are correct. If the  
values of PV, PMT, and FV are correct, the calculation is too complex for  
the TVM menu. You may be able to perform the calculation using the  
CFLO menu to calculate IRR%.  
    
     
The calculation of IRR% is complex, and requires you to store a guess.  
(Refer to page 238.)  
   
Continuous Memory has been erased (page 224, 229).  
    
     
The list name you’ve attempted to enter is already in use; type in a new  
name and press  
.
I
   
No solution is possible using the values stored in the current built-in  
menu or list. This most commonly results from an incorrect sign for a  
cash flow or other monetary value. (Review page 64.)  
      
Attempted to calculate the factorial of a negative or non-integer value.  
  
A warningnot an errorthat the magnitude of a result is too large for  
the calculator to handle, so it returns ±9.99999999999E499 rounded  
to the current display format. See page 47 for limits.  
    
Error Messages 287  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
No solution was found for a Solver equation using the current values  
stored in its variables. Refer to page 246 in appendix B.  
  
A warningnot an errorthat the magnitude of a result is too small for  
the calculator to handle, so it returns the value zero. See page 47 for  
limits.  
    
Attempted a two-list SUM calculation using lists of unequal lengths.  
288 Error Messages  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Index  
, 143  
, 42  
, 150  
, 150  
Special Characters  
-, 47  
low-battery annunciator,  
17, 184, 224  
(
) alarm annunciator, 147  
shift annunciator, 19  
menu  
formula, 247  
using, 50  
%, 40  
%TOTL menu  
formula, 247  
using, 51  
or , 174  
, , ,  
, 32  
&, 22  
@, 19  
Σ, 139, 171, 17677, 220  
, 35  
]or [, 43, 269  
editing a list, 98  
in a list, 96, 162  
with history stack, 43  
, 35  
, 78  
, 92, 95, 96–97  
, 127  
<, 20, 32, 272  
=, 174  
, 49, 50  
, 49, 51  
, 51  
t, 41  
v, 16, 17, 262  
print annunciator, 184  
#TIMES, 9697  
, 132, 139  
, 132, 139  
, 132, 139  
, 132, 139  
, 132, 139  
, 144  
A
  
, , 56  
, 115  
, 115  
, 144  
Index 289  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
schedule, printing, 8283  
AMRT menu, 78  
, 36, 262  
, 109  
AND operator, 166, 174  
key, 34  
Annual percentage interest rate  
in TVM, 63  
with fees, 193  
through , 145  
, appointment-setting  
menu, 145  
with fees, RPN, 276  
ABS (absolute value) function,  
Annunciators, 18  
definition, 18  
printer, 184  
169  
Accrued interest, on bond, 109,  
111  
Antilogarithms, 42, 169  
Accuracy of the clock, 230  
Appointment  
menus, 142, 145  
messages, 147  
repeat interval, 147, 148  
-setting menu, 146  
Acknowledging appointments,  
147  
Actual calendar  
actuarial equations, 246  
for arithmetic, 149  
for bonds, 110  
Appointments  
acknowledging, 147  
clearing, 148  
Addition, 21  
messages, 145  
past due, 146  
printing, 188  
setting, 14647  
unacknowledged, 146, 148  
ADJST menu, 144  
Advance payments, 7477,  
199–200, 253. See also  
Leasing  
Algebraic  
mode, 36, 262  
rules in equations, 16466  
APPT menu, 145  
APR for, with fees, RPN, 276  
calculations, 6771  
interest-only, 194  
interest-only, RPN, 276  
odd-period, 195, 196–97  
ALOG, 169  
Alphabetic keys, 3032  
ALPHAbetic menu, 30  
AM/PM format, 143  
Arithmetic, 21–22, 38  
in registers and variables, 46  
in RPN, 264–67, 270  
in RPN stack, 270  
Amortization  
calculations, 7781  
equations, 247  
schedule, 78  
RPN examples, 275  
290 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
price, 111  
Arithmetic priority, 154  
type, 109, 110  
yield, 111  
Arrow keys  
for changing current equation,  
156  
BOND menu, 1089  
for editing, 32  
Bonds, 21516  
for finding an equation, 162  
for rolling the history stack,  
43  
for viewing long equations,  
166  
Bottom  
of the current list, in CFLO,  
95  
of the Solver list, 162  
Braces in equations, 167  
Brackets in equations, 167  
Brightness of the display, 17  
B
, 56  
Built-in variables. See Variables,  
, 132  
built-in  
, 78  
BUS menu, 49, 254  
, 64  
Business variables, clearing, 50  
Buy option, for a lease, 7577  
B-value, in curve fitting, 132  
, 115  
, 56  
Backspace key, 20  
Balance of loan, 8081  
Balloon payment, 6971  
Batteries, changing, 22526  
C
%CHG menu, 50  
Battery life, 224  
annunciator, 224  
in CFLO menu, 92  
in SOLVE menu, 157  
in SUM menu, 122  
in TIME menu, 142  
Beeper, 147  
Beeper on and off, 36  
Begin payment mode, 64, 66  
, 109  
, 109  
, 132  
, 55  
, 55  
, 56  
Beginning of list  
in CFLO list, 98  
in SUM list, 124  
Bond calculations, 110–13  
equations, 249  
fractional values for, 111  
Index 291  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
, 56  
Capitalized value, lease,  
7475  
key, 53  
Cash flow  
, , 56  
@c, 20, 2829  
C, 17, 20, 32  
v, 16, 17, 262  
calculations, 91107  
equations, 248  
list. See CFLO list  
Cash flow diagrams  
in cash flow calculations,  
9294  
CALC menu  
in CFLO menu, 101  
in SOLVE menu, 15859  
in SUM menu, 128  
in TIME menu, 150  
in TVM calculations, 6466  
Cash flows  
equal. See Cash flows,  
grouped  
grouped, 94, 104  
initial, 94, 95  
Calculations, RPN  
order of, 274  
parenthesis in, 266, 274  
Calculator  
maximum number of, 91  
sum of, 101  
ungrouped, 93  
zero, 94, 95  
not functioning, 23031  
resetting, 225, 228  
Support, 222  
CDATE, 169  
Calculator line  
arithmetic in, 3848  
definition, 18  
displaying alphabetic  
information, 3132  
editing, 20  
CFLO list  
CALC menu, 101  
clearing, 99  
copying from, 98  
correcting, 97  
creating, 94  
definition, 91  
deleting numbers, 98  
editing, 92, 97  
Calendar. See also Date  
360-day, 150  
365-day, 150  
actual, 150  
entering numbers in, 9597  
GETting a new list, 99  
inserting numbers, 98  
name, clearing, 99  
naming, 9899  
printing, 187  
range of, 149  
Calendar basis, 1089  
Call, 110, 112  
Canadian mortgage, 19799,  
252  
signs of numbers, 92  
292 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
starting a new list, 99  
viewing name of current list,  
99  
the RPN stack, 269, 272  
TIME CALC variables, 150  
TVM variables, 64  
viewing numbers, 97  
variables, 2829  
Chain calculations, 21, 3839,  
Clock. See Time  
38  
Commas, in numbers, 35  
in RPN, 266, 274  
Compound interest calculations,  
Changing  
61  
batteries, 22526  
the sign of a number, 22  
Compounding  
annual, 71  
monthly, 67, 68, 74, 75  
periods, 61, 62, 63, 64  
periods, vs. payment periods,  
8790, 200  
Characters  
for CFLO list, 9899  
for equation names, 161  
for SUM list, 126  
in equations, 16667  
inserting and deleting,  
3132  
rates, 84  
semimonthly, 72  
Conditional expressions,  
Chi-squared, 21920  
17476  
Clearing, 20  
%CHG variables, 50  
%T variables, 50  
Constant numbers, RPN, 271,  
272  
Constants in equations, 166  
AMRT variables, 80  
appointments, 146, 148  
BOND variables, 109  
BUS variables, 50  
calculator memory, 2829  
CFLO lists, 95, 99  
ICNV variables, 86  
menu variables, 28  
menus, 28  
MU%C variables, 50  
MU%P variables, 50  
numbers in RPN, 272  
Solver variables, 163  
SUM lists, 123  
CONT menu, 86  
Continuous compounding,  
calculating interest for, 85  
Continuous Memory, 37  
erasing, 225, 229  
using, 17  
Contrast of display, changing,  
17  
Conventional investments,  
definition, 101  
Converting interest rates,  
8587  
the history stack, 44  
Correlation coefficient, 132  
Index 293  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Cost  
markup on, 49, 52  
Customer Support, 222  
of capital, 101  
D
Counter variable,in summation  
function, 176  
in CFLO menu, 92  
in Solver menu, 157, 164  
in SUM menu, 122, 127  
Coupon  
basis, 1089  
payments, 108  
, 115  
, 32  
, 150  
, 150  
, 150  
Creating  
a CFLO list, 9496, 99  
a new equation, in the Solver,  
15758  
a SUM list, 12324, 127  
CTIME, 169  
in appointment-setting menu,  
145  
in SET menu, 143  
Cube root, 41  
in RPN, 265  
Currency  
, 56  
, 185  
, 18  
D, 3435  
clearing variables, 60  
converting, 59  
entering a rate, 57  
exchange, 57, 58  
selecting, 55  
Date  
storing and recalling, 59  
in the past or future, 151  
setting, 14344  
viewing, 141, 169  
currency#1, 55  
currency#2, 55  
Current equation, 156  
deleting, 16264  
printing, 187  
Date arithmetic, 14952  
Date format, 143, 144  
for appointments, 144  
CURRX menu, 55, 255  
DATE, Solver, 169  
Cursor, 19  
movement keys, 32  
Day of the week, determining,  
149  
Curve fitting, 121, 13234  
calculations, 13437  
equations, 251  
Day.month.year format, 143,  
144  
294 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
clearing, 20  
contrast, 17  
format, 34  
in RPN, 268–73  
DDAYS, 169  
Decimal places, 34, 47  
Decimal point, 35  
Declining balance depreciation.  
messages, 36  
See Depreciation  
organization, 19, 43  
printing the contents of, 185  
turning on and off, 17  
Deleting  
all information, 225,  
22829  
Displayed messages, 283  
characters, 32  
Displaying  
the contents of registers,  
4346  
values assigned to variables,  
equations, 16264  
from a CFLO list, 98, 100  
from a SUM list, 125, 127  
variables in the Solver,  
16264  
28  
Division, 3840  
Dependent variable, 134  
Doublespace printing, 36, 185  
DSP menu, 3435, 260  
DEPRC menu, 114  
Depreciation  
ACRS method, 114, 11819  
calculations, 11417  
declining balance method,  
114, 11617  
E
\key, 47  
, 64  
, 42  
, 157, 161  
, 56  
equations, 250  
partial year, 11819  
straight line, 114, 116  
sum of the years’ digits, 114,  
116  
, 18  
Diagnostic self-test, 232  
, 18  
Diagrams, cash flow, 6466,  
key, 88  
92–94  
e, 25, 28, 92, 96, 123, 147,  
Digit separator, 35  
161  
Direct solutions in Solver, 179,  
E, 263, 26465, 271,  
240–41  
274  
Discount rate, 101  
E, in numbers, 47  
Display  
Editing  
Index 295  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
alphabetic information,  
3132  
equations, 161  
keys, 3132  
erasing, 163  
for built-in menus, 24653  
invalid, 158  
length of, 153  
long, viewing, 166  
naming, 161  
verifying, 15758  
Effective interest rate, 8487,  
100  
End payment mode, 64, 65  
writing, 164  
Ending value, in summation  
Erasing. See also Clearing;  
function, 176  
Deleting  
English language, setting, 224  
Erasing calculator memory, 225,  
Entering  
229  
equations, 15758  
guesses in the Solver,  
18183  
Error messages, 36, 283  
Estimates, entering in the Solver,  
18183  
Entering numbers  
in a SUM list, 12324  
in RPN, 264, 271  
Examples, 190  
in RPN, 276–82  
into CFLO lists, 9597  
Exchanging registers, RPN, 269  
EXP, 169  
Environmental limits, 230  
Equals sign, used to complete  
EXPM, 169  
calculations, 21, 38  
Exponential model, 130, 132,  
Equation list. See Solver list  
133  
Equation Solver, 15383,  
240–46  
clearing, 163  
Exponential numbers, 47  
Exponentiation, 4142, 265  
in equations, 165  
introduction, 29  
Equations  
F
algebraic rules, 164  
characters in, 16667  
clearing, 163  
deleting, 16264  
displaying, 162  
editing, 161  
, 115  
, 128  
, 18  
key, 63  
key, 34  
entering, 157  
296 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Face value, bond, 110  
FACT, 169  
Guesses  
entering in the Solver,  
18183  
IRR%, entering, 23840  
Solver, 245  
Factorial, 42, 169  
FIN menu, 25657  
FLOW, Solver, 169  
Forecasting  
calculations, 13037  
equations, 251  
H
in the appointment-setting  
menu, 145  
in the SET menu, 143  
values, 121, 13234  
Foreign language, 224  
Formatting number, 34  
FP, 169  
, 56  
Halting a numerical search,  
Fractional part, 169  
FRCST menu, 130, 132  
180  
Hierarchy of menus, 24  
Functions in equations, 167,  
Hierarchy of operations, in  
16871  
equations, 165  
Future date, calculating, 151  
History stack, 43. See also  
Stack, RPN  
printing, 186  
Future value of a series of  
payments  
equation, 246  
Solver function, 171  
HMS, 170  
HP Solve. See Solver  
HRS, 170  
G
Humidity requirements, 230  
, 82  
, 132  
I
, in CFLO, 99  
, in SUM, 127  
G, 169  
, 78  
in CFLO list, 92, 98  
in SUM list, 122, 124  
General business  
calculations, 4953  
equations, 247  
, 101  
Grouped standard deviation,  
, 101  
13839  
Index 297  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
simple, 61  
, 18  
Interest rate conversions,  
8490, 201, 248  
effective and nominal, 84  
key, 63  
, , 56  
I, 98  
for storing equations, 30  
in CFLO menu, 92  
in RPN, 264  
Intermediate results, RPN, 268,  
274  
Internal rate of return. See also  
IRR%  
calculations, 91, 97,  
100101  
in the Solver list, 15758  
in SUM list, 123  
I%, 101  
ICNV  
Interrupting an IRR% calculation,  
equations, 248  
menu, 8485  
variables, clearing, 86  
239  
Interrupting the Solver, 180  
INV, 170  
IDIV, 170  
Invalid equation, 158  
Inverse, 265  
IF, 170, 17476  
nested, 175  
Investments  
calculating IRR% and NPV of,  
1013  
with grouped cash flows,  
1045  
Independent variable, 134  
Individual Retirement Account,  
7273  
Inserting characters, 32  
IP, 170  
Installing batteries, 22526  
Insufficient memory, 37, 227  
IRA, 72–73, 206  
IRR%, 100, 101, 209  
Insurance policy, price,  
21315  
IRR% calculations, 23840  
halting, 239  
INT, 170  
IRR% estimate  
INT, rounded in amortization  
making, 23940  
seeing current, 239  
calculations, 78  
Interest  
compound, 61, 84  
equation, 248  
IRR% solutions, types of,  
23839  
on loan, amount of PMT  
applied toward, 8081  
ITEM, 170  
298 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Iteration in Solver, 17983,  
LN, 170  
240, 24246  
LNP1, 170  
Loan  
L
amortizing, 7783  
APR for, with fees, 193  
, 115  
, 132  
, 186  
, 42  
, 42  
LOG, 170  
Logarithmic model, 130, 132,  
133  
Logarithms, 42, 170  
Logical operators, 174  
Low memory, 227  
Low power, 224  
L, 44  
in RPN, 273  
L, 170  
and printing, 184  
Language, setting, 224  
annunciator, 184  
Large number  
available, 47  
in a list, 128  
M
, 132  
, 109  
, 49, 53  
., 52, 128  
, 128  
, 128  
, 128  
, 132  
Large numbers, keying in and  
displaying, 47  
Last result, copying, 44  
LAST X register, RPN, 273  
Leasing, 7477, 199–200  
LEFT-RIGHT, interpreting,  
24246  
Letter keys, 30  
Linear estimation, 121,  
in appointment setting menu,  
145  
in printer men, 186  
13234  
Linear model, 130, 133  
Linear regression, 121  
, 143  
, 56  
List. See CFLO list; SUM list;  
Solver list  
key, 25  
@A, 2226  
@M, 37  
List, RPN, 264  
rolling the stack, 269  
Index 299  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
MAIN menu, 19  
MOD, 170  
Manual, organization of, 16  
Mode of payments (Begin and  
End), 64  
Markup  
on cost, 49, 52  
on price, 49, 52  
Models, curve-fitting, 132, 133  
Modes  
Math in equations, 165, 167  
MATH menu, 42, 260  
MAX, 170  
, 36, 261–62, 265  
, 36, 261, 262  
, 185  
beeper, 36  
double-space printing, 36,  
@>  
Mean, 251  
calculating, 12830  
weighted, 13839  
185  
menu map, 260  
printer ac adapter, 36  
Median, 251  
calculating, 12830  
Modified IRR, 20912, 253  
Memory. See also Continuous  
Memory  
freeing, 227  
insufficient, 227  
losing, 229  
Month/day/year format,  
14344  
Mortgage, 68, 69. See also  
Loan  
calculations, 67–71, 7780  
discounted or premium, 191  
using and reusing, 37  
Menu  
labels, 19  
maps, 25, 25460  
Moving average, 21719  
MU%C, 50  
equation, 247  
Menus  
calculations with, 2728  
changing, 25, 28  
MU%P, 50  
equation, 247  
, 28  
names of, 161  
printing values stored in,  
18688  
sharing variables, 53  
Multiple equations, linking, 178  
exiting  
Multiplication  
in arithmetic, 21, 3840  
in equations, 165  
Messages for appointments,  
N
147  
, 56  
Messages, error, 283  
, 78  
MIN, Solver, 170  
300 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
equation, 249  
, 63  
Noise Declaration, 237  
in CFLO list, 9899  
in SUM list, 126  
Nominal interest rate, 8487,  
100  
, 101  
, 101  
Non-integer period, 172  
NOT, 174  
, 101  
, 157  
, 56  
Notes, discounted, 21617  
NPV  
calculating, 100101  
equation, 100, 248  
, 56  
Number  
, 56  
lists. See CFLO list; SUM list;  
Solver list  
of days between dates,  
14951  
of decimal points, 47  
of payments, in TVM, 62  
range, 48  
, 42  
, 8586  
@, 63  
N, non-integer, 63, 72  
Names  
of equations, 161  
of lists, clearing, 99  
of variables, 166  
Numbers. See also Value  
entering, RPN, 264, 271  
with exponents, 47  
Negative numbers  
Numerical solutions, 17981  
in arithmetic calculations, 22  
in cash-flow calculations,  
9294  
NUS, 100, 249  
in TVM calculations, 64  
O
Neighbors in Solver, 243  
, 50  
@o, 17  
O, 17  
Nested IF function, in the Solver,  
175  
Net future value, 91, 101  
Net present value, 91, 101  
Net uniform series, 91, 101  
Odd-period calculations,  
17273, 195, 253  
Operators, in equations,  
16467  
in RPN, 266, 268, 274  
NFV  
calculating, 91, 101  
Index 301  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
Option to buy, for a lease,  
Past dates, calculating, 151  
7475  
Past due appointments  
acknowledging, 148  
definition, 146  
OR, 174  
Order of calculation, in the  
Payment mode, 62  
changing, 62  
definition, 6566  
Solver, 165  
OTHER menu, 14647  
Overdue appointments. See  
resetting, 62  
Past- due appointment  
Payment periods, 62  
compounding, 6164  
in cash flow calculations, 93  
vs. compounding periods,  
8790, 200  
Overview, 3  
P
, 56, 63  
, 78  
Payments  
amortization, 7781  
lease, 7477  
, 63  
, 62  
number per year, in TVM, 63  
, 78, 82, 85  
, 52, 109  
, 51  
TVM, 62  
Percent, 40  
change, 4951  
key for simple interest, 40,  
61  
of cost, 49, 52  
of total, 49, 51  
, 121, 132  
, 56  
, 42  
, 18  
Percentage calculations, 4953  
@p, 186  
P, 186  
in RPN, 265  
Periodic compounding,  
calculating interest rates for,  
8586  
Parentheses  
in arithmetic calculations,  
3940  
in equations, 165, 167  
in RPN, 266, 268, 274  
Periodic interest rate, 101  
Periodic rate of return, 100  
Periods, 35. See also Payment  
periods in numbers  
in numbers, 35  
Partial period. See also Odd  
period  
payments, 62  
302 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
PI, 42, 170  
Printer port, 184  
PMT. See also Payments  
in TVM, 63  
rounded amortization  
calculations, 78  
Printing  
amortization table, 8283  
appointments, 188  
display, 185  
double space, 36, 185  
equations, 187  
history stack, 186  
interrupting, 189  
messages, 188  
number lists, 187  
slow, 184  
Solver list, 187  
speed, 185  
statistical values, 186  
time and date, 186  
variables, 187  
Positive numbers  
in cash flow calculations,  
9294  
in TVM, 64  
Power. See also Low power;  
Batteries  
function, 41, 265  
raising a number to, 41  
Power curve, 130, 132, 133  
Power on and of, 17  
Precision of numbers, internal,  
with tracings, 188  
34  
Prompting for #TIMES, 96  
Present value  
definition, 63  
of a lease, 7477  
of a series of payments, 171,  
246  
of a single payment, 171,  
246  
Purchase date, bond, 109  
Purchase price, in mortgage  
calculation, 6869  
PV, rounded in amortization  
calculations, 78  
Previous menu, displaying, 28  
PRICE, as a shared variable, 53  
Price, markup on, 49, 52  
Q
Questions, common, 22224  
Principal of loan, amount of  
PMT applied toward,  
8081  
R
, 128  
, 145  
, 55  
, 56  
Printer  
power for, 185  
using, 184  
PRINTER menu, 186, 260  
Index 303  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
, 56  
, 36  
, 186  
, 56  
@r, 35  
Replacing batteries, 22526  
Required rate of return, 101  
Resetting the calculator, 228  
Reusing  
a number, RPN, 271, 273  
calculator memory, 37, 229  
~, 43, 263  
Reverse Polish Notation, 261  
RND, 170  
R, 4546, 98  
in RPN calculations, 266  
with variables, 28  
Rounding a PMT, 71  
Rounding numbers, 35  
R, 263  
Radix (decimal point), 34  
RPN. See appendixes D, E, and  
F, or individual entries  
Range  
calculating, 128  
of numbers, 48  
Running total, 12324  
Rate of return, periodic, 100  
S
Recalling numbers, 4546  
from variables, 28  
, 115  
, 109  
, 115  
, 115  
, 128  
, 128  
, 142  
, 55  
, 56  
, 56  
, 56  
, 186  
, 132  
@S, 34  
in RPN, 264, 266  
with  
, 44  
@L  
Reciprocal key, 41  
Register storage, 4546  
Registers  
arithmetic in, 46  
in RPN, 268–73  
printing the contents of, 186  
Relational operators, 174  
Remaining depreciable value,  
115, 116  
Renaming lists. See CFLO list;  
SUM list; the Solver list  
Repeating appointments  
past-due, 148  
setting, 147  
s, 4546  
calculations with, RPN, 266  
304 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
with annual rate, RPN, 276  
S (function), 170  
Slope, in curve-fitting, 132,  
Sample standard deviation,  
134  
128  
Small numbers, keying in and  
Saving numbers, 43  
displaying, 47  
Savings account, 71–72  
college, 2026  
college, RPN, 278  
regular, 200202  
retirement, 208  
retirement, RPN, 282  
tax free, 2069  
tax free, RPN, 280  
Smallest number  
available, 47  
in a list, 128  
SOLVE menu, 260  
Solver, 15383. See also  
Equations  
Solver calculations, 155,  
15859  
creating custom menus,  
15354  
Savings calculations, 7173  
Scientific notation, 47  
Self-test, 232  
Service, 23536  
how it works, 17983  
multiple solutions in, 179  
technical discussion of,  
24046  
SET menu, 143  
Setting a language, 18, 37  
Setting an appointments,  
using, 15368  
14647  
Solver estimates, seeing curren,  
Settings, default start-up, 229  
Settlement date, 109  
SGN, 170  
24046  
Solver functions, 16871  
Solver list  
Shared variables  
in BUS, 53  
in equations, 162  
clearing, 16264  
current equation, 156  
definition, 153  
deleting equations, 157,  
16264  
deleting variables from,  
16264  
editing an equation, 157  
in ICNV, 86  
Shift, 19  
Sign of numbers  
in cash-flow calculations, 92  
in TVM calculations, 64  
empty, 156  
entering equations, 15758  
printing, 187  
Simple interest, 40  
with annual rate, 190  
Index 305  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
calculating, 12830  
grouped, 13839  
Solver menu, 15657  
for multiple equations, 178  
Starting value, in summation  
Solver solutions, types of,  
function, 176  
24346  
Statistical calculations, 12740  
Solver variables. See Variables,  
Solver  
Statistical equations, 25052  
Sorting numbers, 128  
Statistical variables, 128,  
130–34  
Spaces in equations, 166  
Statistics, x and y, 13034  
Specifying the number of  
decimal places, 34  
Step size, in summation function,  
176  
SPFV, 171, 246  
SPPV, 171, 246  
SQ, 171  
Storage registers, 4546  
arithmetic in, RPN, 46  
printing the contents of, 186  
SQRT, 171  
Storing numbers, 44, 4546  
in built-in variables, 28  
in RPN, 264, 266  
Square root  
calculating, 41, 265  
Solver, 171  
Subtraction, 21, 38–40  
Square, Solver, 171  
SUM equations, 251  
Squaring a number, 41, 265  
Stack. See History stack  
SUM items, maximum number  
of, 121  
Stack, RPN, 268–73  
automatic movement of, 270,  
274  
clearing, 269, 273  
dropping, 270  
lifting, 270  
losing contents off the top,  
270  
replicating contents in, 269,  
270  
rolling contents, 270, 271  
size, 269  
SUM list  
CALC menu, 128  
clearing, 127  
clearing numbers, 124  
copying a number from, 126  
correcting, 124  
creating, 12324  
definition, 12122  
deleting numbers, 125  
editing, 122, 12425  
entering numbers in, 12324  
FRCST menu, 132  
Standard deviation, 12830  
GETting a new list, 127  
306 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
inserting numbers, 124  
largest number in, 128  
name, deleting, 127  
naming, 126  
, 150  
, 186  
, sum of cash flows, 101  
Text, printing (MSG), 186  
printing, 187  
smallest number in, 128  
sorting, 121, 128  
Time  
accuracy, 230  
starting a new list, 127  
viewing numbers, 124  
viewing the name of the  
current list, 126  
and date, printing, 186  
changing, 14344  
format, 144, 14546  
of day, viewing, 141  
setting, 14344  
SUM menu, 12223, 258  
TIME menus, 14142  
Sum of cash flows, 101  
Time value of money  
calculations, 6183  
equations, 247  
Summation, 132, 139, 171,  
176–77  
function, in the Solver,  
17678, 220  
Top of the equation list, in the  
of lists, 177  
values, 132, 139  
Solver, 162  
Total, percent of, 51  
Trace-printing, 188  
TRN, 171  
Switching menus, 2526  
T
Troubleshooting, 222–24  
#T, 171  
True population standard  
#TIMES, prompting, 9697  
%TOTL, 49, 51  
deviation, 128  
Truncating function, in Solver,  
171  
in appointment-setting menu,  
145  
Turning calculator on and off,  
17  
in PRINTER menu, 186  
in SET menu, 143  
TVM  
calculations, 6183  
equation, 247  
, 78  
instructions, 6667  
menu, 6164, 66  
variables, clearing, 64  
, 51  
of a SUM list, 122, 128  
, 109  
Index 307  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
statistical, 128  
Typing aids, 167  
Variables, Solver, 154  
clearing, 163  
deleting, 163  
Typing alphabetic characters,  
30  
names of, 166  
shared, 162  
U
, 56  
Variables,shared, 53  
, 56  
Verifying equations, 15758  
Unacknowledged appointments,  
Viewing lists. See CFLO list;  
148  
SUM list; Solver list  
Unit conversions, in the Solver,  
178  
W
Unknown variables in Solver,  
, 132  
240, 241  
, 56  
Up-arrow key, 43  
USFV, 171, 246  
USPV, 171, 246  
Warranty, 23334  
Weighted mean, 132, 13839  
X
V
v, 41  
Values  
x, 43  
clearing, 2829. See also  
@c  
in RPN, 269  
recalling, 28, 4546  
storing, 28, 4546  
transferring between menus,  
28  
XOR, 174  
x-values, in forecasting,  
13334  
Variable,  
dependent, 134  
independent, 134  
Y
, 109  
, 115  
, 56  
u, 41, 265  
Yield  
Variables  
statistical, 13034  
Variables,  
built-in, 27  
printing, 187  
308 Index  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
of lease, 7475  
y-values, in forecasting,  
to call, bonds, 108  
to maturity, bond, 108  
13334  
y-intercept, in curve-fitting, 132,  
Z
134  
Zero-coupon bond, 113  
Index 309  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  
This regulation applies only to The Netherlands  
Batteries are delivered with this  
product, when empty do not throw  
them away but collect as small  
chemical waste.  
Bij dit produkt zijn batterijen  
geleverd. Wanneer deze leeg zijn,  
moet u ze niet weggooien maar  
inleveren als KCA.  
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9  

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