O U T L I N E
Examples (using the HP10B):
Access to the double or triple level functions differs among calculators. For the HP10B, the alternate function of a key is accessed by using the orange-colored key, n. In other models the alternative function may be accessed through, for example, a 2nd key or a g key. You need to refer to the manual that came with your financial calculator to see how to access these second or third level functions.
In addition to access to different levels through a single key, some calculators, such as the HP17B and HP19B, have a set of unidentified keys (just below the display) that perform a function assigned to them based on the "screen" shown in the display. For example, if you select the time value of money screen (by striking the n key below the "FIN" in the display and then the n below the "TVM" in the display), these keys are assigned to represent "PV" , "N", "FV", and so on.
In the examples that follow, the keys are described by the label corresponding to the function you are using. For example, to calculate 34 on the HP10B, the key strokes are indicated as:
3 n yx 4 n yx
putting the key's label in the box representing the key to indicate which key to hit. In the case of keys identified by a display screen, such as for the HP19B, we indicate the keystroke in a like manner.
The basic math calculations (such as addition, subtraction, multiplication, and division) are similar among the different brands and models. With the exception of the HP12C, the math is performed much like you would if you were doing it without the calculator. Consider the problem of multiplying 3 by 4:
All models except HP12C: 3 x 4 =Division, addition, and subtraction are performed in a like manner.
The HP12C uses reverse-Polish notation, which is tough to get used to but becomes a time-saver in complex calculations.
HP12C: 3 ENTER 4 x
Let's look closely at an example using the HP10B calculator to solve a future value problem: If an investor deposits $1,000 today in an account that pays 5% interest each year, how much will be in the account at the end of 10 years? The following are given in the problem description:
Present value (PV) = $1,000and we want to solve for FV. The first thing we need to do is tell the computer the present value. However, in the HP10B (like most financial calculators), we have to change the sign on the present value in order for the calculator's program to work. We input $1,000 as the present value and change its sign,
Interest rate per period (r) = 5% per year
Number of periods (t) = 10 years
1 0 0 0 +/- PVWe then need to tell the computer the interest rate, in whole numbers (that is, 5% is "5"):
5 I/YRThe number of compounding periods is next,
1 0 NAnd we solve for the future value by striking the FV key, FV. The future value, $1,628.90, will then be displayed.
HP10B n DISP 4
HP12C f 4
HP17B DSP FIX 4 INPUT
HP10B 1 nP/YR
HP12C frequency of payments within a period is not programmed
HP17B FIN TVM OTHER P/YR 1 INPUT
1 g CFj 6 g Njwhere the sequence " 6 g Nj" tells the calculator's program that the one dollar cash flow is repeated six times. In the case of the HP17B and the HP19B, the shortcut for cash flows is the prompt "#TIMES" that corresponds to a period's cash flow.
HP10B Clear All
HP12C f REG
HP17B CLEAR DATA
In the case of the HP17B, which allows storage of individual cash flow data, you need to clear the cash flow information separately: n CLEAR DATA YES
To change the setting from end-of-period to beginning-of-period,
HP10B n BEG/END
HP12C g BEG
HP17B FIN TVM OTHER BEG EXIT