Hp 20B Business Consultant Financial Calculator Quick Start Guide ÿþM

HP 20b Calculator Quick Start Guide c01720653

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HP 20b Business Consultant

Financial Calculator Quick Start Guide

For free training, visit www.hp.com/go/calctraining

HP part number: F2219-90001

First edition: January 2008

Basic Features

Legal Notices

This manual and any examples contained herein are provided “as is”and are subject to

change without notice. Hewlett-Packard Company makes no warranty of any kind with regard

to this manual, including, but not limited to, the implied warranties of merchantability, non-

infringement and fitness for a particular purpose.

Hewlett-Packard Company shall not be liable for any errors or for incidental or consequential

damages in connection with the furnishing, performance, or use of this manual or the

examples contained herein.

Reproduction, adaptation, or translation of this manual is prohibited without prior written

permission of Hewlett-Packard Company, except as allowed under the copyright laws.

Hewlett-Packard Company

16399 West Bernardo Drive

MS 8-600

San Diego, CA 92127-1899

USA

Contents

Legal Notices 2

HP 20b Business Consultant 4

1 Basic Features 6

2 Mathematical Calculations 20

3 Statistical Operations 34

4 Time Value of Money 40

5 Cash Flows 50

6 Business Problems 62

7 Bonds 68

8 Depreciation 74

9 Break-even 81

10 Warranty, Regulatory, and Contact Information 84

HP 20b Business Consultant

Keyboard Map Legend

No. Feature Chapter(s) No. Feature Chapter(s)

1Time Value of

Money keys 416 Annunciator

display area 1

2Cash Flows, IRR,

and NPV menus 515 Amortization and

Depreciation

menus

4,8

3Data and Statistics

menus 314 % key and

Percent

Calculation menu

2,6

4Input 113 Store and Recall 1

5Memory 112 Break-even menu 9

6Up/Insert and

Down/Delete keys 111 Backspace key

and Reset menu 1

7Shift key 110 Math Menu 2

8On/Off 19Mathematical

functions (rows) 2

Basic Features

1 Basic Features

Welcome to the HP 20b Financial Calculator

This guidebook is designed to get you started with your new 20b Financial

Calculator. If you require more detailed information about calculator operation

and features, please refer to the training materials available at:

www.hp.com/go/calctraining.

Turning the Calculator On and Off

To turn on your calculator, press O. To turn it off, press :a.

Turning the calculator off does not erase any data you have stored. The

calculator automatically turns itself off after approximately five minutes to

conserve energy. If you see the low battery symbol () in the display, replace

the batteries. See

Chapter 10, Warranty and Contact Information

for instructions

on replacing the batteries.

Selecting a Language

English is stored as the default language. To select a language other than

English for messages on the display:

1. Press :u to access the Mode menu.

FIX=

displays on the top

line of the screen.

Basic Features

2. Press >repeatedly until English displays on the screen.

3. Press Iuntil the desired language is displayed. The displayed

language is the active setting.

4. Press Oto return to the default calculator screen.

For more information on accessing menus and changing calculator settings, refer

to the section below titled,

Accessing Menus

Adjusting the Display Contrast

To adjust the brightness of the display, press and hold Owhile pressing the

+or -keys. Each press of the +or -keys slightly increases or

decreases the brightness of the display.

Cursor

When you enter a number, the cursor (-) blinks in the display and indicates you

are in

number entry

mode.

Two Line Display

There are two lines in the display screen as shown in Figure 1-1:

Figure 1-1 Display Screen

Basic Features

The top line of the screen displays operation status, operator symbols,

annunciators, and abbreviations of the registers, variables, and menus.

Throughout this manual, this line is referred to as the

top line

. In Figure 1-1,

SIN

and

RPN

on the far right are on the top line.

The bottom line displays numbers you have entered, or results. Throughout this

manual, this line is referred to as the

bottom line

When no operations have been entered and no operations are pending, the

bottom line of the screen displays

. This state of the calculator is referred to as

the

default calculator screen

The Mode Menu: Setting Preferences

The Mode menu allows you to customize the calculator. To access the Mode

menu, press :u. Press >or <repeatedly to scroll through the

menu starting with

FIX=2

(the number of digits displayed to the right of the

decimal point). Once an item is displayed, press Ito cycle through the

other options for that setting. To exit the Mode menu, press O. Table 1-1

below lists the items in the Mode menu

Basic Features

Table 1-1 Mode Menu Settings

Setting Display Description

FIX= 2 The current number of digits displayed to the right of the

decimal point. Default is

Key in the number of digits you want and press I, or

press =until the number of digits you want is displayed.

Degree or

Radian

The current angular mode in degrees or radians.

Default is

Degree

Pressing Itoggles between these options.

Date:

mm dd yyyy

dd mm yyyy

The current format for dates entered into menus:

mm dd yyyy

dd mm yyyy

. December 3, 2010 is entered as

12.032010

mm dd yyyy

format, or

3.122010

dd mm yyyy

format. Note

the (.) in both formats separating the first and second groups.

Default is

mm dd yyyy

format.

Pressing Itoggles between these options.

1.23 or 1,23 The current decimal separator as a decimal point or comma.

Default is decimal point,

1.23

Pressing Itoggles between these options.

Basic Features

Table 1-1 Mode Menu Settings

Setting Display Description

Decimal or

Comma

The current thousands separator. Decimal (1000.00 or

1,000.00); Comma (1000,00 or 1.000,00).

Default is decimal. Pressing Icycles through these

options.

Chain,

Algebraic, or

RPN

The current operation mode.

Default is

Chain

Pressing Icycles through these options.

English,

Français,

Deutsch,

Español

The current language option.

Default is

English

Pressing Icycles through these options.

Actual or

Cal.360

The current calendar options for bonds and date calculations.

Default is

Actual

Pressing Itoggles between these options.

Annual or

Semiannual

The current bond type.

Default is

Annual

Pressing Itoggles between these options.

Basic Features

Changing the Operating Mode

After viewing the default settings, suppose you want to change the operating

mode from Chain to RPN. See Table 1-2.

Table 1-2 Changing the Operating Mode

Keys Display Description

:u Opens the Mode menu, starting

with first setting option,

FIX=

, the

number of digits displayed to the

right of the decimal point.

<<<<

(Press five times)

Scrolls to the current setting for

the operating mode,

Chain

(Press two times)

Selects

RPN

as the active

setting. Note the

RPN

annunciator to the right.

>or <Pressed repeatedly, scrolls

through other settings in the

menu. The displayed settings

are the active settings.

Basic Features

Table 1-2 Changing the Operating Mode

Keys Display Description

OExits the Mode menu and returns

you to the default calculator

screen.

Key Presses and the Shift :Key

To activate a key, press and release the desired key.

Most of the 20b's keys have two functions: the primary function and the shifted, or

secondary

function. The primary function is printed on the top of the key. The

secondary function is printed on the bevel of the key.

To activate the secondary function of a key, press and release :followed by

the key with the secondary function printed on the bevel. Unlike the shift key on a

typewriter or computer keyboard, it is not necessary to press and hold :while

pressing another key.

In this manual, commands with secondary key functions are represented by the

shift key symbol, :, followed by the key with the secondary function. For

example, to activate sine

press :p.

Basic Features

When :is active, the down arrow annunciator appears on screen, indicating

that the next key pressed will execute the secondary function of the key. To

cancel an accidental press of :, simply press :a second time.

Key commands for example problems are provided throughout the text and in

tables. Key symbols are placed in the order they are to be pressed, from left to

right.

Annunciators

Annunciators are symbols that appear in the display as messages, or after certain

keys or key combinations have been pressed. Annunciators are special symbols

indicating a specific status in the calculator. Table 1-3 lists the annunciators.

Table 1-3 Annunciator Symbols

Annunciator Symbol Status

(•)The shift key has been pressed. When

another key is pressed with this symbol

displayed, the secondary function printed on

the bevel of the key is activated.

Big (=)symbol When displayed with an item, for example,

Price =

, it indicates the value assigned to that

variable.

Basic Features

Table 1-3 Annunciator Symbols

Annunciator Symbol Status

Small (=) symbol Indicates an item for which the =key is

valid. This symbol appears on the upper right

of the display screen.

Battery power is low.

BEG Begin mode is activated.

STO Stores a number in memory.

RCL Recalls stored numbers.

RAD Radians setting is active.

RPN RPN mode is active.

360 The 360-day calendar option is active.

INPUT Input mode is activated.

The IKey

The Ikey is used to input values for variables and execute menu items.

Basic Features

The Ikey is also used in Reverse Polish Notation (RPN) mode to enter a

number on the stack or duplicate it.

The =Key

The =key is used at the end of a mathematical operation to calculate the final

result. For example, 1+2= returns a final result of

The =key also allows you to request a calculation for the value of an item.

This request only applies to items that can be calculated.

For example, when you select the nominal interest rate (

Nom. %=

) in the Interest

Conversion (Iconv) menu, pressing =outside of a mathematical operation

calculates and displays the nominal interest rate based on the stored data in the

other variables in the menu.

To open the Iconv menu, press :&.

Nom %=

displays on the top line, and

the current value assigned to the nominal interest rate is displayed on the bottom

line. At this screen, press 12I to enter a new current value for the

nominal rate. Press <followed by =to calculate the current value for the

effective rate. See Figure 1-2.

Figure 1-2

Basic Features

When an item for which the =key is valid displays, the small indicator (=) is

displayed on the top line at the right of the screen. Do not confuse this small

annunciator (=) with the larger annunciator (=) found to the right of a variable.

Editing Entries and Clearing

The On/CE OKey

Pressing Oone time cancels current number entries, mathematical operations,

or a menu selection, in that order.

Pressing Orepeatedly while performing multiple actions or operations, or with

multiple operations pending, cancels one operation at a time, from the latest to the

earliest.

The Reset :x Menu

The Reset menu allows you to reset some, or all, of the menu items, variables,

and registers to their default values.

To open the Reset menu, press :x.

TVM

displays on the top line. Press

<repeatedly to scroll to a specific item. If you select the command to reset all

values,

All

, you will be prompted to confirm your choice. To reset, press I.

At the

All Reset

message, press Oor Ito exit.

Pressing :x while working within a particular menu takes you directly to the

item of the Reset menu that allows you to reset that menu. Say, for example, you

Basic Features

are working in the Bond menu and you wish to reset all your entries in the Bond

menu. From anywhere in the Bond menu, press :x.

Bond

displays on

screen. At this prompt, pressing Iresets the Bond menu and returns you

to the last item you were working with in the Bond menu.

Notes about Special Menus

The Mode, Memory, Math and Reset menus are special menus, because when

you exit them by pressing O,you return to the previous menu (if any). This

feature allows you to work in two or more menus simultaneously without having to

exit a menu and lose your work.

Memory

The Cash Flow and Statistics menus share the same memory and are limited to a

combined total of 50 memory slots.

Macros can record up to 120 keys.

Since entering data in menus can represent a significant amount of work, when

the reset commands for the macro, cash flows, statistics and delete all (

Del.All?

)

functions are used, you will be asked to confirm your choice. At the prompt, press

Ito confirm, or Oto cancel.

Basic Features

Accessing Menus and Menu Maps

Many of the 20b's functions are located within menus. To access a menu, press

the key, or shift key combination for the menu in which you wish to work. To exit a

menu, press O.

For example, to access the Break-even menu, press :!. Once opened,

you can scroll through the items in the menu by pressing >< repeatedly.

When you arrive at the last item in a menu, pressing <returns you to the first

item. Similarly, pressing >one time on the first menu item scrolls to the last

item in the menu.

In this manual, diagrams called

Menu Maps

are included at the beginning of each

section to assist you in navigating through the menus used for that section. For

an example of a menu map, see Figure 1-3 below.

Figure 1-3 The Menu Map for the Break-even Menu

Basic Features

There are four types of menu items:

1. Read/write. Read/write menu items, such as

Price=

in the Break-

even menu shown above, are easily recognizable, because when they

are selected, both the

INPUT

and small (=) annunciators are lit. When

lit, these annunciators indicate that entering a number and pressing

Iwill store the entered number in the displayed menu item. By

pressing =(outside of a mathematical operation) you will then

calculate the value for that item based on data entered elsewhere in the

menu.

2. Read-only. Read-only items such as Internal Rate of Return (

IRR%=

)

in the IRR menu are display-only; they are calculated values computed

internally by the calculator.

3. Write-only. Write-only items, such as investment interest rate (

Inv.

I%=

) in the Net Present Value (NPV) menu, are similar to read/write

items in that the

INPUT

annunciator is lit when these items are

selected, indicating that entering a number and pressing Istores

that number in that menu item.

4. Special items. Special items, such as the

Degree/Radian

option in

the Mode menu, the items of the Reset menu, and the items of the

Percent Calculation (%calc ) menu perform an action when Iis

pressed. Depending on the menu, this action can be the selection of a

sub-menu in the %calc menu, changing a mode or setting in the Mode

menu, or erasing data with the Reset menu.

Mathematical Calculations

2 Mathematical Calculations

Mathematical Functions

Mathematical functions are located:

On keys, such as, +-*/ etc.

On shifted, or secondary functions, such as, :p

In the Math menu :s

Number Entry and Display

Numbers are entered by pressing:

Numbered keys, 0-9

The decimal point .

The }key

The :w keys

To correct a number entry, press {. Each press of {erases the last digit or

symbol you entered.

Change how numbers are displayed on screen with the options in the Mode

menu. For more information on calculator display settings, see the section titled,

The Mode Menu: Setting Preferences.

Mathematical Calculations

To enter a number in the display, press the digits successively. A number can

have up to 12 digits.

To change the sign of a number from positive to negative, press }.

Use scientific notation to enter very large and very small numbers. For example,

to enter the number 12345.12123 in scientific notation, first enter the mantissa,

12345,

then press :w and enter the number representing the exponent,

123.

The exponent must have a value between -499 and +499.

Chain Mode

By default, calculations are performed in Chain mode. To change the calculating

mode, refer to the section titled,

The Mode Menu: Setting Preferences.

Calculations in Chain mode are interpreted in the order in which they are entered.

For example, enter the following numbers and operations as written from left to

right: 1+2*3. See Figure 2-1. Note how if you press an

operator key, +-*/, after =, the calculation is continued using

the currently displayed value.

Figure 2-1 Calculation in Chain Mode

In Chain mode, if you wish to override the left to right order of entry, use

parentheses () to prioritize operations.

Mathematical Calculations

For example, to calculate 1+ (2 x 3), you may enter the problem as written from

left to right, with parentheses to prioritize the multiplication operation. See Table

2-1 below.

Table 2-1 Simple Arithmetic Calculations in Chain Mode

Keys Display Description

(2*3)

Sets operational priority, inputs

numbers, and multiplies 2 and

=Adds 1 to 6 and returns

7.00

on the bottom line as the final

result.

Algebraic Mode

To set the calculator in Algebraic mode, refer to the section titled,

The Mode

Menu: Setting Preferences.

In Algebraic mode, multiplication and division have a higher priority than addition

and subtraction. For example, in Algebraic mode, pressing 1+2*3

returns a result of

7.00

. In Chain mode, the same key presses return a result of

9.00.

In Algebraic mode, operations have the following priority:

Mathematical Calculations

First priority: the power function (y x)

Second priority: combinations and permutations

Third priority: multiplication and division

Fourth priority: addition and subtraction

For example, key in 1+2 x 5 nPr 22in Algebraic mode by pressing:

1+2*5:b2:m=. The result is 241.

Reverse Polish Notation (RPN) Mode

To set the calculator in RPN mode, refer to the section titled,

The Mode Menu:

Setting Preferences.

In RPN mode, numbers are entered first, separated by pressing I, followed

by an operation key.

Note: pressing Iis optional after entering a number if the next key pressed

is an operation.

Each time you press an operation or function key, the answer is calculated

immediately and displayed. For example, suppose you wanted to add two

numbers in RPN, 1 and 2. Press 1I2+. The result,

3.00

, is

calculated and displayed immediately on the bottom line along with the (+) symbol

on the top line.

Mathematical Calculations

You do not need to enter parentheses to set the priority of your operations in

RPN. Key in numbers and operations inside the parentheses first, followed by

those outside of the parentheses. If a problem has more than one set of

parentheses, start by working with the operations and numbers in the innermost

parentheses and work out. For example, calculate: (3 + 4) x (5 + 6).

One way to calculate this problem is to key in the numbers and operations within

the parentheses first, followed by the operations outside of the parentheses. See

Table 2-2 below.

Table 2-2 Simple Arithmetic Calculations in RPN Mode

Keys Display Description

3I4+ Inputs the numbers and the

operation in the first set of

parentheses. Intermediate results

are displayed. Note the (+) and

(RPN) annunciators.

5I6+ Inputs the numbers and the

operation in the second set of

parentheses. Intermediate results

are displayed. Note the (+)

annunciator.

Mathematical Calculations

Table 2-2 Simple Arithmetic Calculations in RPN Mode

Keys Display Description

*Continues the operation with the

displayed results.

=Validates the final result of 77.

Note the absence of the (*)

annunciator.

One-Number Functions and the Math Menu

The key presses for the one-number mathematical functions listed in Table 2-3

below apply to all modes, Chain, Algebraic, and RPN. To execute one-number

functions:

1. Key in a number,

, into the display.

2. Press the key or key combination corresponding to the operation you

wish to execute. The results are displayed on the bottom line.

For example, to calculate 6, press 6:n.A result of

2.45

calculated immediately and displays on the bottom line. The symbol appears

on the top line.

Mathematical Calculations

Note: before doing any trigonometric calculations in the Math menu, check

whether the angle mode is set for degrees (

Degrees

) or radians (

Radians

You can change the setting if the active mode is not what your problem

requires. For more information on the Mode menu and calculator settings,

refer to the section titled,

The Mode Menu: Setting Preferences.

Table 2-3 lists one-number functions along with their corresponding keys.

Table 2-3 Shifted Function Mathematical Operations

Keys Description

:w Keys in numbers with explicit powers of 10.

:p Calculates sine.

:q Calculates cosine.

:r Calculates tangent.

:k Natural log.

:l ex. Calculates natural exponent to the power of

:m X2. Returns square of

:n Calculates square root.

Mathematical Calculations

Table 2-3 Shifted Function Mathematical Operations

Keys Description

:f Executes the

Random

function. Returns a random

number in the range 0 < x <1.

:g Calculates factorial of

(where 0 ≤

≤253).

:h yx. Returns

to the

power.

:i Reciprocal.

:e Rounds

internally to the number specified by the

display format. Default is two digits to the right of the

decimal point.

The Math :s Menu

There are additional one-number functions available in the Math menu. To open

the Math menu, press :s.See Figure 2-2 for the menu map of the Math

menu.

Mathematical Calculations

Figure 2-2 The Menu Map for the Math Menu

Mathematical Calculations

Press <to scroll through the menu items, starting with

Trigonometry

. The

Trigonometry

Hyperbolic

, and

Probability

items have sub-menus. Press I

with an item displayed to access the functions within the sub menus.

Press Oto cancel the Math menu and return to current work.

Press :s to return to the top of the Math menu.

Using the Math menu, calculate Sin -1 (0.5). See Table 2-4.

Table 2-4 Math Menu Example

Keys Display Description

.5I

Enters 0.5 and opens the Math

menu starting with

Trigonometry

I< Selects the

Trigonometry

menu item

and scrolls to ASIN. Note the value

for Sin -1 is calculated immediately

and displayed.

Ior =Validates the result.

Note: in the Math menu,

does not perform calculations; it overrides the current

number by

. You may start an operation, use the Math menu to execute a

Mathematical Calculations

function, and continue calculating with your original operation without losing your

work.

Two-Number Functions

Apart from +-*/, the three additional two-number functions

accessible on the keyboard are:

Yx

nCr

nPr

is the power function;

nCr

stands for the number of combinations of elements,

, among

, and

nPr

stands for the number of permutations of elements,

, among

nCr=n!/(r!(n-r)!)

nPr=n!/(n-r)!

Perform calculations with these functions in the same way you would perform

calculations with +-/ and *, but press :to access the

secondary function key. For example, to calculate 15 3:

1. Press 15.

2. Press :h.

Mathematical Calculations

3. Press 3=.The results are shown Figure 2-3.

Figure 2-3

In RPN mode, key in the numbers first, followed by I, then press the

function key. For example, for the power function example above, in RPN press:

15I3:h.

Storing and Recalling Numbers

EURO has ten calculation memories available for use during calculations. These

memories are numbered from 0-9. To store numbers, press :$; to recall

them, press L. You can use the store and recall functions for these memories

any time a number is displayed, or when you wish to enter a number. To store a

number in a memory:

1. Key in a number,

2. Press :$.

3. With

STO

displayed on the top line, key in a number, 0-9, to identify the

number of the memory register where you wish to store

Mathematical Calculations

4. To recall a number, press L. With

RCL

displayed in the top line, key

in the number of the memory you used.

You can also perform operations to stored numbers. For example, press

5:$2 to store

in memory 2. To add 12 to the value of memory 2,

press 12:$+2. Later on, during a calculation, you can

press L2 to recall memory 2. Note how the new current value is

, (5

+12). +-* and /are valid mathematical operations in the storage

memories.

Recalling Stored Numbers

In RPN, typing 12L+2= adds the value of memory 2 to 12,

but it will not modify the stored value of memory 2. You can also use -*

and /after L.

In Algebraic and Chain modes, press 12+L2=.

Rounding Numbers

The 20b performs all calculations internally with 15-digit precision and rounds to

12 digits when returning the results.

When displayed, a number is rounded to the number of digits after the decimal

point set by the

FIX=

item in the Mode menu. The default setting is two digits to

the right of the decimal point. For more information, refer to the section titled,

The

Mode Menu: Setting Preferences.

Mathematical Calculations

Note: the

FIX=

setting only affects the display; it does not affect the actual

numbers.

Simple Percentages

In Algebraic or Chain modes, pressing %divides a number by 100. For

example, pressing 25% returns

0.25.

To find a percentage of a given number, enter the number and multiply it by the

desired percentage, followed by =to return the result. For example, to find

25% of 200, press 200*25%= to return a result of

To add or subtract a percentage of a number, enter the first number, followed by

+or -the percentage, followed by %.Finish your calculation with

=, if desired. For example, to add 10% to 50, press

50+10%= to return a result of

In RPN mode, the %key calculates

percent of the number on level two of the

stack, when

is the number on level one of the stack. It does not modify the

number on level two of the stack, allowing you to perform an addition or a

subtraction after pressing %to add or subtract

%from the number.

For example, 200I25% returns

, but

200

is still on

level two of the stack, and pressing -returns

150

, or 200-25%, with the (-)

annunciator displayed on the top line.

Statistical Operations

3 Statistical Operations

Figure 3-1 The Menu Map for the Data and Statistics Menus

Statistical Operations

Statistics operations require the use of two secondary function keys: :y

and :z. See Figure 3-1 for assistance with navigating through the menus.

Press :y to open the Data menu. In this menu, enter a list of x values for

one-variable statistics, a list of pairs, (x, w) for weighted, one-variable statistics, or

a list of paired values (x, y) for two-variable statistics. To enter data, key in a

number and press I.

Press :z to analyze the data. If you attempt to open the Statistics (Stats)

menu before entering data, you will be redirected to the Data menu. When

opened, the menu displays

2 Vars

. Press Irepeatedly to scroll through

the menu items, two-variable, (

2 Vars

)

one-variable,

(1 Var

), and one-variable

weighted, (

1 Weight

). Press <with an item displayed to open the first sub-

menu. To return from the sub-menu to the menu above it, press >.

To reset the Stats and Data menus, press :x. At the prompt,

Stats=

confirm your choice by pressing I.

The first sub-menu contains the following items:

Descriptions, Predictions

(

2 Vars

only) and

Sums

. Press >or <repeatedly to scroll through the items. With

an item displayed, press Ito open its sub-menu. Press >or <

repeatedly to view the results.

Note: in one-variable and one-weight items, there are no items for

. For an

example using the Stats menu, see Tables 3-1 and 3-2. The example is shown

with RPN as the active operating mode.

Statistical Operations

Sales for the last five months are represented by the pairs of values shown

below, with the month number as

, and the sales values as

. Enter these

into the Data menu. Using the Stats menu for

Predictions

, predict sales for

month seven. What is the slope and y-intercept of the linear regression line?

What is the sum of all the y values?

Table 3-1 Months and Sales Numbers

Month Sales Values

1 150

2 165

3 160

4 175

5 170

Table 3-2 Statistics Example

Keys Display Description

:y Opens Data menu starting

with the current value for

X(1).

Statistical Operations

Table 3-2 Statistics Example

Keys Display Description

1I1

50I

Inputs current values for X(1)

and Y(1). Displays current

value for X(2).

2I1

65I

Inputs current values for X(2)

and Y(2). Displays current

value for X(3).

3I1

60I

Inputs current values for X(3)

and Y(3). Displays current

value for X(4).

4I1

75I

Inputs current values for X(4)

and Y(4). Displays current

value for X(5).

5I1

70I

Inputs current values for X(5)

and Y(5). Displays current

value for X(6).

:z Opens Stats menu.

Statistical Operations

Table 3-2 Statistics Example

Keys Display Description

<Opens Descriptive sub-

menu.

I<< Displays current value for y

average.

:z<<

Opens Predictions sub-menu

starting with

Linear

<Scrolls to current value of

Prediction X.

7I Inputs current value for

Prediction X (month).

<= Calculates predicted Y value

(sales).

<Displays current value for

slope.

<Displays current value for y-

intercept.

Statistical Operations

Table 3-2 Statistics Example

Keys Display Description

<Displays current value for

Correlation.

:z<<

<I<

Opens Sums sub-menu.

Displays current value for the

sum of all y values (Sigma

Y).

Time Value of Money

4 Time Value of Money

The examples in the following sections are calculated with the Mode menu

preferences in their default settings, unless otherwise noted. For more

information about basic features and setting preferences, see

Chapter 1, Basic

Features

DWN

NOM%= EFF%= P/YR=

DWN

Figure 4-1 The Menu Map for the Interest Conversion Menu

Interest Conversion Menu

To open the Interest Conversion menu (Iconv) press :&.

To reset the variables to their default values, from anywhere inside the menu,

press :x. With

Iconv

displayed, press Ito reset, or Oto

cancel.To exit the menu, press Oonce again. See Figure 4-1. Table 4-1

describes the items of the Iconv menu.

Time Value of Money

Table 4-1 Interest Conversion Menu Items

Item Description

Nom%=

The stated annual interest rate compounded periodically,

such as 18% compounded monthly.

Eff%=

The rate, that compounded only once, that is, annually,

would produce the same final value as the nominal rate.

P/YR=

Payments or compounding periods per year. Default is

Using the Iconv menu, find the effective rate of a 36.5% nominal rate

compounded daily. See Figure 3-1 for help with navigating through the

menu. This example is calculated with RPN as the active operating mode.

See Table 4-2.

Table 4-2 Interest Rate Conversion Example

Keys Display Description

:& Opens the Iconv menu, starting with

the current value of the nominal

percentage rate.

36.

Inputs

36.5

as the current nominal

percentage rate.

Time Value of Money

Table 4-2 Interest Rate Conversion Example

Keys Display Description

>Scrolls to payments per year,

P/YR

Default value is

365

IInputs

365

as the current value for the

number of compounding periods or

payments per year.

>= Scrolls to the variable for the effective

rate,

Eff%=

Returns the effective rate.

A 36.5% nominal rate compounded

daily equals an effective rate of

44.03%.

TVM Keys and Entering Values

For a list of keys used for TVM problems along with their descriptions, see Table

4-3.

To reset the TVM variables to their default values, with any TVM variable

displayed, press :x. With

TVM

displayed, press I. At the

TVM

Reset

prompt, press Ior O.

Time Value of Money

To input current data, enter a number followed by the TVM key for the required

item. To calculate an unknown value, enter all known values and press the key of

the item you want solved. For a TVM example, see Table 4-4.

Table 4-3 TVM Keys

Keys Description

NStores or calculates the number of payments or

compounding periods (N).

^Multiplies a value by the number of payments per year and

stores as N

YStores or calculates the nominal annual interest rate as a

percentage.

VStores or calculates the present value (PV). To a lender or

borrower, PV is the amount of a loan; to an investor, PV is

the initial investment. PV always occurs at the beginning of

the first period.

MStores or calculates the dollar amount of each periodic

payment (PMT). Payments can occur at the beginning or

end of each compounding period.

[Stores or calculates the number of payments or

compounding periods per year.

Time Value of Money

Table 4-3 TVM Keys

Keys Description

FStores or calculates the future value (FV), a final cash flow.

FV always occurs at the end of the last compounding period.

?Sets Begin mode (Beg). Payments occur at the beginning of

each compounding period.

]Sets End mode (End). Payments occur at the end of each

compounding period.

You borrow $140,000.00 from a credit union for 30 years (360 months) at

6.5% annual interest, compounded monthly. What is your monthly payment

to the credit union? Note: at the end of the 30 years, you expect to have a

zero balance (

FV=0

). The example below in Table 4-4 is shown with RPN

as the active operating mode.

Table 4-4 TVM Example

Keys Display Description

12:[Inputs

as the current value for the

number of payments, or compounding

periods.

Time Value of Money

Table 4-4 TVM Example

Keys Display Description

360

Inputs

360

as the current value for the

number of payments over 30 years.

6.5

Inputs

6.5

as the current value for the

interest rate percentage per year.

1400

00VInputs the present value of the loan at

the time of the first payment. This

value is positive (+); it is money you

receive.

0FInputs the future value of the loan (or

remaining balance) as

MReturns the monthly payment. This

result is negative (-); it is money you

pay out.

Amortization

Refer to Figure 4-2 for a menu map of the Amortization menu. Table 4-5 lists the

keys and variables of the Amortization menu. To open the menu, press A.

Time Value of Money

The Amortization menu calculations are based on values stored in the following

TVM keys: N,Y,V,Mand [.

To enter current data for the TVM keys, enter a number followed by the key for the

required item.

To reset the variables to their default values, from anywhere in the Amenu,

press :x. With

TVM

displayed, press I. At the

TVM Reset

prompt, press Ior O.

For an amortization example, see Table 4-6.

Figure 4-2 The Menu Map for the Amortization Menu

Table 4-5 Amortization Menu Items

Menu Item/Key Description

AOpens the Amortization (amrt) menu starting with

Nb Per=

Time Value of Money

Table 4-5 Amortization Menu Items

Menu Item/Key Description

Nb Per=

Number of periods to group together in the amortization

calculation. The default value is the number of

payments per year defined by the [key.

Start=

Period on which to start amortization. Default is

. If

you want to amortize for the 2nd year, enter

(the

second year starts at the 13th payment).

Balance=

The loan balance at the end of the assigned amortized

period.

Principle=

Amount of the loan payment applied to the principle at

the end of the amortized period.

Interest=

Amount of the loan payment applied to the interest at

the end of the amortized period.

Enter the values for the TVM keys from the example below. Press Afollowed

by >or <to view the amortization schedule.

You borrow $140,000.00 for 360 months at 10% interest from a credit union.

Create an amortization schedule for the loan. How much interest did you pay

for the first year? What is the balance of your loan after the first year? See

Time Value of Money

Table 4-6. The example below is shown with RPN as the active operating

mode.

Table 4-6 Amortization Example

Keys Display Description

12:

[Inputs current value of payments per

year as

30:

^Inputs

360

(30 times 12 payments per

year) as the current value for the

number of payments for the 30-year

loan.

10YInputs

as the current interest rate

percentage per year.

1400

00VInputs the current present value of the

loan at the time of the first payment.

0F Inputs the current future value of the

loan as

(zero balance).

MReturns the result for the monthly

payment.

Time Value of Money

Table 4-6 Amortization Example

Keys Display Description

ADisplays the current period of

amortization in months. Default is

<Displays the number of the starting

payment in first period to amortize.

<Displays the current balance remaining

after the first year.

<Displays the current amount of principle

applied towards the loan for the first

year.

<Displays the amount of interest paid on

the loan for the first year. The amount

of your payments applied towards

interest for the first year is about

$14,000.00.

<Displays the first payment in the next

period to amortize (the 2nd year).

Cash Flows

5 Cash Flows

Figure 5-1 Cash Flow Diagram

A cash flow list is a set of numbered pairs,

CF(n)

and

#CF(n)

, where

is the

index of the cash flow list. Each pair represents a single cash flow.

CF(n)

represents the monetary value of the cash flow;

#CF(n)

is the number of

consecutive occurrences of that cash flow. By default,

#CF(n)

is equal to

, as

most cash flows occur only once. However, in cases where a cash flow is

Cash Flows

repeated multiple times in a list, using

#CF(n)

instead of entering the cash flow

value multiple times can save you time and memory space in the calculator.

To enter a cash flow list, press Cto open the cash flow menu.

For each cash flow item, enter the cash flow followed by I;then enter the

number of occurrences followed by I.

If a cash flow occurs once, you do not need to type 1I;you can simply

press I, as

is the default.

To reset a cash flow list to its default values, with any cash flow displayed, press

:x.The number of cash flows in the list, along with

Cash Flow=

, displays.

At this prompt, press I.You will be asked to confirm your choice. Either

press Ito confirm and Oto return to the cash flow list, or press O

to cancel. Pressing Oonce again after you cancel the reset command also

returns you to the cash flow list.

Table 5-1 lists the keys used for cash flow problems. For a cash flow example,

see Table 5-2.

Table 5-1 Cash Flow Keys

Key Description

COpens the cash flow list.

Cash Flows

Table 5-1 Cash Flow Keys

Key Description

IInputs current values to variables in the cash flow list

as well as the Net Present Value (NPV) and Internal

Rate of Return (IRR) menus.

>< Scrolls up and down.

oInserts cash flows into a cash flow list.

jRemoves cash flows from a cash flow list.

RP Opens internal rate of return (IRR) and Net Present

Value (NPV) menus.

After an initial investment of $80,000.00, you expect returns over the next

five years as follows: cash flow 1, $5,000.00, cash flow 2, $4,500.00, cash

flow 3, $0.00, cash flow 4, $4,000.00, cash flow 5, $5,000.00, 5 times, cash

flow 6, $115,000.00.

Given this information, calculate the total of the cash flows and the internal rate of

return (IRR) of the investment. Calculate net present value (NPV) and net future

value (NFV), assuming an annual investment interest rate of 10.5%. See Figure

5-1 and Table 5-2. The example below is shown with RPN as the active operating

mode.

Cash Flows

Table 5-2 Cash Flow Example

Keys Display Description

COpens the cash flow list starting

with the current value of the

initial cash flow,

CF(0)

8000

Keys in

-80000

as the value of

the initial cash flow. Note: the

sign of the cash outflow is

negative.

IInputs the current value

-80000

for CF(0). Displays

the current value,

, for the

frequency of CF(0).

IInputs the current value of

for

the frequency of CF(0). Displays

the current value of CF(1).

5000 Keys in

5000

as the value of

CF(1).

Cash Flows

Table 5-2 Cash Flow Example

Keys Display Description

IInputs the current value of CF(1)

5000

. Displays the current

value,

, for the frequency of

CF(1).

IInputs the current value of

for

the frequency of CF(1). Displays

current value of CF(2).

4500 Keys in

4500

as the current

value of CF(2).

IInputs the current value of CF(2)

4500

. Displays the current

value,

, for the frequency of

CF(2).

IInputs the current value of

for

frequency of CF(2). Displays the

current value of CF(3).

Cash Flows

Table 5-2 Cash Flow Example

Keys Display Description

IInputs the current value of CF(3)

. Displays the current value,

, for the frequency of CF(3).

IInputs the current value of

for

the frequency of CF(3). Displays

the current value of CF(4).

4000 Keys in

4000

as the current

value of CF(4).

IInputs the current value of CF(4)

4000

. Displays the current

value,

, for the frequency of

CF(4).

IInputs the current value of

for

the frequency of CF(4). Displays

the current value of CF(5).

5000 Keys in

5000

as the current

value of CF(5).

Cash Flows

Table 5-2 Cash Flow Example

Keys Display Description

IAssigns the current value of

CF(5) as

5000

. Displays the

current value,

, for the

frequency of CF(5).

5Keys in

as the current value

for the frequency of CF(5).

IInputs the current value of

for

the frequency of CF(5). Displays

the current value of CF(6).

11500

0Keys in

115000

as the current

value of CF(6).

IInputs the current value of CF(6)

115000

. Displays the current

value,

, for the frequency of

CF(6).

IInputs the current value of

for

frequency of CF(6). Ends list.

Cash Flows

Analyzing Cash Flows

The various functions used to analyze cash flows are located in the NPV Pand

IRR Rmenus.

If you press Ror Pbefore entering cash flows, you will be redirected to the

cash flow menu to enter values into the cash flow list.

The menu maps for the IRR and NPV menus are shown in Figure 5-2. Table 5-3

describes the items within these menus.

Cash Flows

Figure 5-2 The Menu Map for the NPV and IRR Menus

Cash Flows

Table 5-3 NPV and IRR Menu Items

Item Description

Inv. I%=

Investment or discount rate. Enter the investment rate

or discount rate for the cash flow followed by I.

Net PV=

Net present value. Returns the value of the cash flows

at the time of the initial cash flow, discounting the future

cash flows by the value set for

Inv. I%.

Net FV=

Net future value. Returns the value of the cash flows at

the time of the last cash flow, discounting the earlier

cash flows by the value set for

Inv. I%.

Net US=

Net uniform series. The per-period payment of a

regular, periodic cash flow of equivalent present value

to the cash flow list.

Payback=

Payback. The number of periods for the investment to

return value.

Discounted Payback=

Discounted Payback. The number of periods required

for the investment to return value if the cash flows are

discounted using the value set in

Inv. I%.

Cash Flows

Table 5-3 NPV and IRR Menu Items

Item Description

Total=

The sum of all the cash flows, equivalent to NPV if Inv.

I% is

IRR%=

Internal rate of return. This is the discount rate for the

cash flow that returns a Net Present Value of

See Table 5-4 for an example of the NPV and IRR functions using the cash flow

example in Table 5-2. Press Pand Rto open the menus. At

Inv. I%

, key in

a number followed by I. Scroll through the menus by pressing >or

<repeatedly. The example below is shown with RPN as the active operating

mode.

Table 5-4 NPV and IRR Example

Keys Display Description

POpens NPV menu starting with current

value of

Inv. I%

10.

5IInputs

10.5

as current Inv. I%.

<Scrolls to current value for NPV.

Cash Flows

Table 5-4 NPV and IRR Example

Keys Display Description

<Scrolls to current value for NFV.

<Scrolls to current value for Net US.

<Scrolls to current value for Payback.

<< Scrolls to current value of cash flow

total.

RReturns current value for IRR.

Editing Cash Flows

In the cash flow list, you can view and modify the current values of a specific cash

flow, or cash flows. Press >or <repeatedly to scroll through the list. To

modify an entry, type a new number and press Iwith a cash flow displayed.

For example, to change the current value of CF(7) in the example in Table 5-2

from

200

, with

CF(7)=

displayed, press 200 and press I.

You can also modify the frequency of a cash flow in the same manner with the

frequency,

#CF(n) =,

displayed. Pressing :j with a cash flow displayed

erases the displayed cash flow. Pressing :o inserts a cash flow into the

list before the displayed cash flow.

Business Problems

6 Business Problems

Figure 6-1 The Menu Map for the Percent Calculation (%calc) Menu

Press :# to open the menu. There are four items in this menu: markup as

a percentage of cost (

Mkup. %C

), markup as a percentage of price (

Mkup. %P

)

percent change (

%Change

)

and part as a percentage of total (

Part%Tot.

These items allow you to access sub-menus. Press >or <repeatedly to

Business Problems

scroll to the item you require. Press Iwith a menu item displayed to

access its-sub menu. To enter data in the sub-menus, select the appropriate

menu item, key in the number, and press I. Press >or <to select

the menu item you need solved and press =to calculate it.

To return to the menu items from within a sub-menu, press O.

Note: for business problems using 20b, margin is based on price; markup is based

on cost.

To reset the menu items to their default values, from anywhere in the %calc menu

press :x. With

TVM

displayed, press >or <to scroll until

%Calc

displays and press I. Press Oto exit the menu. See Tables 6-1

through 6-3 for examples of calculations in the %calc menu. The examples below

are shown with RPN as the active operating mode.

1. Find the markup on an item if the cost price is $15.00 and the

selling price is $22.00. See Table 6-1.

Table 6-1 Markup Example

Keys Display Description

:# Opens the %calc menu starting

with

Mkup.%C.

IDisplays the current value of

Cost=

Business Problems

Table 6-1 Markup Example

Keys Display Description

15IInputs

as the current value for

cost.

<Scrolls to

Price=

and displays the

current value.

22IInputs

as the current value for

price.

<Scrolls to

Mkup.%C

variable. Note

the (=) symbol. Displays the

current value of markup.

=Returns result of

46.67

for markup.

2. Find the percent change between 20 and 35 with no

compounding.

Business Problems

Table 6-2 Percent Change Example

Keys Display Description

:# Opens the %calc menu starting

with

Mkup.%C.

<<< Scrolls to

%Change

IDisplays the current value for

Old=

20I Inputs

as the current value for

Old=

<Displays the current value for

New=

35I Inputs

as the current value for

New=

<Displays the current value for

%Change=

. Note: the (=) symbol.

=Calculates the current value for

%Change=

Business Problems

3. What is 30% of 80?

Table 6-3 Part % of Total Example

Keys Display Description

:# Opens the %calc menu starting

with

Mkup.%C.

<< Scrolls to the

Part %Tot.

item.

IDisplays the current value for

Total=

80I Inputs

as the current value for

Total=

<Scrolls to the current value of

Part

30I Inputs

as the current value for

Part=.

<Scrolls to the current value for

Part

% Tot.=

. Note the (=) symbol.

Business Problems

Table 6-3 Part % of Total Example

Keys Display Description

=Calculates the current value of

Part

% Tot.=.

30 is 37.50% of 80.

Bonds

7 Bonds

Figure 7-1 The Menu Map for the Bond Menu

Before you enter the Bond menu, be sure to check that the date format is set in

the format required for your problem. The default setting is

mm.dd yyyy

, but it

can be set for

dd.mm yyyy

. Bond day counts (360/365) and annual or semiannual

coupon payment schedules may be set from either the Mode menu or the Bond

menu. For more information on setting the preferences in the Mode Menu, see

the section titled,

The Mode Menu: Setting Preferences

To open the Bond menu, press B.

Bonds

Press >or <repeatedly to scroll through the items shown in Figure 7-1.

To input current data, with an item displayed, key in a number and press I.

Press >or <repeatedly to scroll to an unknown item, and press =to

calculate it.

To reset the values to their default values, from anywhere in the Bond menu,

press :x. With

Bond

displayed, press Ito reset the menu or O

to cancel. Press Oagain to exit the menu.

Table 7-1 lists the items in the Bond menu. For an example of calculating price

and yield in the Bond menu, see Table 7-2.

Table 7-1 Bond Menu

Variable Description

Settlement Date=

Settlement date. Displays the current settlement

date in either

mm.ddyyyy

dd.mmyyyy

format.

Note: input only.

Maturity Date=

Maturity date or call date. The call date must

coincide with a coupon date. Displays the current

maturity date in either

mm.ddyyyy

dd.mmyyyy

format. Note: Input only.

CPN%=

Coupon rate stored as an annual %. Note: Input

only.

Bonds

Table 7-1 Bond Menu

Variable Description

Call=

Call value. Default is set for a call price per

$100.00 face value. A bond at maturity has a call

value of 100% of its face value. Note: Input only.

Yield%=

Yield% to maturity or yield% to call date for given

price. Note: Input/Output.

Price=

Price per $100.00 face value for a given yield.

Note: Input/Output.

Accrued=

Interest accrued from the last coupon or payment

date until the settlement date for a given yield.

Note: Input/Output.

Actual/Cal.360

Actual (365-day calendar) or Cal.360 (30-day

month/360-day year calendar).

Annual/Semiannual

Bond coupon (payment) frequency.

What price should you pay on April 28, 2010 for a 6.75% U.S. Treasury bond

maturing on June 4, 2020, if you want a yield of 4.75%? Assume the bond is

calculated on a semiannual coupon payment on an actual/actual basis. See

Bonds

Table 7-2. The example below is shown with RPN as the active operating

mode.

Table 7-2 Bond Calculation Example

Key Display Description

BOpens the Bond menu starting with

the current settlement date.

>Scrolls to bond coupon (payment)

frequency.

ISelects semiannual coupon

payment, as required by the

example.

<Inputs semiannual coupon

payment and returns to the current

settlement date.

4.28

2010

Inputs the current settlement date

mm.ddyyyy

format. Note:

the display represents the day of

the week.

Bonds

Table 7-2 Bond Calculation Example

Key Display Description

<Displays the current maturity date

mm.ddyyy

format.

6.04

2020

Inputs the current maturity date.

Note:

in the display represents

the day of the week.

<Displays the current value for

CPN%=

6.75

IInputs

6.75

as current value for

CPN%=

<Displays current call value. Default

100

. Note: if

Call=

requires

another value, key in the number

followed by I.

<Displays the current value of

Yield%=

4.75

IInputs

4.75

as the current value for

Yield%=

Bonds

Table 7-2 Bond Calculation Example

Key Display Description

<Displays the current value for

Price=

=Calculates the current value for

Price=

:$1 Stores

115.89

in memory 1.

<Displays the current value for

accrued interest.

:$2 Stores

2.69

in memory 2.

OL1+

L2= Returns the result for total price

(value of price + value of accrued

interest). The net price you should

pay for the bond is $118.58.

Depreciation

8 Depreciation

Figure 8-1 The Menu Map for the Depreciation Menu

Press :\ to open the Depreciation menu. Press Ito cycle through

the depreciation methods. With a depreciation method displayed, press >or

<repeatedly to view the items of the sub-menu. To enter current data, key in

a number and press I.

To reset the Depreciation menu, press :x. With

Depreciation

displayed,

press Ito reset the menu or Oto cancel. Press Oagain to exit the

menu.

Depreciation

Brief descriptions of the methods used to calculate depreciation are provided in

Table 8-1. Table 8-2 describes the items found in the depreciation sub-menus.

For an example calculating depreciation using the straight-line method, see Table

8-3.

Table 8-1 Depreciation Methods

Depreciation

Method Description

Sline Straight line is a method of calculating depreciation

presuming an asset loses a certain percentage of its value

annually at an amount evenly distributed throughout its

useful life.

SOYD Sum-of-the-years' digits is an accelerated depreciation

method based on the idea that the years of an asset's

useful life are divided by the sum of the years counting

backwards. For example, a five year useful life would be

shown as 5 + 4 + 3 + 2 + 1= 15. Press 4 /15, then

press =to return a 27% depreciation for the first year.

In RPN, press 4 I15 /.

Depreciation

Table 8-1 Depreciation Methods

Depreciation

Method Description

DecBal Declining balance is an accelerated depreciation method

that presumes an asset will lose the majority of its value

during the first few years of its useful life.

DBXover Declining balance crossover is an accelerated

depreciation method that presumes an asset will lose the

majority of its value in the first few years of its useful life,

but that it will revert to a consistent depreciation during the

latter part of its life, which is then calculated using the

straight line method.

ACRS Accelerated Cost Recovery System calculates the amount

of tax deduction under U.S. Accelerated Cost Recovery

System.

Sl Fr Straight line French. This method of depreciation is similar

to the Straight line method, except an actual calendar date

mm.dd

format is entered in for

Start=

to indicate when

the asset was first placed into service.

Depreciation

Table 8-2 Depreciation Menu Items

Item Description

Life=

The expected useful life of the asset in whole years.

Start=

Start refers to the date or month in which the asset

is first placed into service. Depending on the type

of depreciation, this can be the month, or the actual

date in

mm.dd

format.

Cost=

The depreciable cost of the asset at acquisition.

Salvage=

The salvage value of the asset at the end of its

useful life.

Year=

Assigns the value of the year for which you want the

depreciation.

Depreciation=

Depreciation calculation used for straight line,

SOYD, and declining balance methods only.

R.Book Value=

Remaining book value.

R.Depreciable Value=

Remaining depreciable value.

Depreciation

Table 8-2 Depreciation Menu Items

Item Description

Factor=

The declining balance factor as a percentage. This

is used for declining balance and declining balance

crossover methods only.

A metalworking machine, purchased for $10,000.00, is to be depreciated

over five years. Its salvage value is estimated at $500.00. Using the

straight-line method, find the depreciation and remaining depreciable value

for each of the first two years of the machine's life. See Table 8-3.

Table 8-3 Straight Line Depreciation Example

Key Display Description

:\ Opens the Depreciation menu

starting with the straight line

method.

<Displays the current value of the

useful life.

is the default value.

5I Inputs

as the current value for

the useful life.

Depreciation

Table 8-3 Straight Line Depreciation Example

Key Display Description

<Displays the current value of

Start=

is the default value.

<Displays the current value for

Cost=

1000

0I Inputs the current value for cost as

10,000.00.

<Displays the current value for

Salvage=

500I Inputs the current value for salvage

500

00.

<Displays the current year of the

depreciation.

is the default value.

<Displays the current depreciation

amount after year 1.

<Displays the current remaining

book value after year 1.

Depreciation

Table 8-3 Straight Line Depreciation Example

Key Display Description

<Displays the current remaining

depreciable value after year 1.

<Displays the current year of the

depreciation.

<Displays the current depreciation

amount after year 2.

<Displays the current remaining

book value after year 2.

<Displays the remaining depreciable

value after year 2.

Break-even

9 Break-even

Figure 9-1 The Menu Map for the Break-even Menu

Press :! to open the Break-even menu. Starting with

Fixed=

, input known

data by entering a number and pressing I. Scroll to the unknown variable

by pressing >or <repeatedly. Press =to calculate it.

To reset the Break-even menu, from anywhere in the menu press :x. With

BrkEven

displayed, press Ito reset the menu or Oto cancel. Press

Oagain to exit the menu.

The sale price of an item is $300.00, the variable cost price is $250.00, and

the fixed costs are $150,000.00. How many units would have to be sold to

break even (profit = 0%)? This example is shown in Table 9-1 with RPN as

the active operating mode.

Break-even

Table 9-1 Break-even Example

Keys Display Description

:! Opens the Break-even menu

starting with the current value for

fixed costs.

1500

00I Inputs the current value for fixed

costs as

150,000

00.

<Displays the current vale for

Cost=

250I Inputs the current value for cost as

250.00.

<Displays the current value for

Price=

300I Inputs the current value for price as

300

00.

<Displays the current value for

Profit=

IInputs the current value for profit as

Break-even

Table 9-1 Break-even Example

Keys Display Description

<Displays the current value for

Quantity=

=Calculates the current value for the

unknown item. 3000 units would

have to be sold to return a 0%

profit.

Warranty, Regulatory, and Contact

Information

10 Warranty, Regulatory, and Contact Information

Replacing the Batteries

Use only fresh batteries. Do not use rechargeable batteries. EURO takes two, 3-

volt CR2032 lithium batteries. To install a new battery:

1. With the calculator turned off, slide the back cover off.

2. Remove the old batteries.

3. Insert new batteries, with the positive polarity symbol facing outward.

4. Replace the back cover.

Warning! There is danger of explosion if the battery is incorrectly replaced.

Replace only with the same or equivalent type recommended by the

manufacturer. Dispose of used batteries according to the manufacturer's

instructions. Do not mutilate, puncture, or dispose of batteries in fire. The

batteries can burst or explode, releasing hazardous chemicals.

HP Limited Hardware Warranty and Customer Care

This HP Limited Warranty gives you, the end-user customer, express limited

warranty rights from HP, the manufacturer. Please refer to HP’s Web site for an

extensive description of your limited warranty entitlements. In addition, you may

also have other legal rights under applicable local law or special written

agreement with HP.

Limited Hardware Warranty Period

Duration: 12 months total (may vary by region, please visit www.hp.com/support

for latest information)

General Terms

Warranty, Regulatory, and Contact

Information

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.

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.

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 with proof of purchase.

HP products may contain remanufactured parts equivalent to new in performance

or may have been subject to incidental use.

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.

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 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.

Warranty, Regulatory, and Contact

Information

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.

The only warranties for HP products and services are set forth in the express

warranty statements accompanying such products and services. 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.

Customer Care

In addition to the one year hardware warranty your HP calculator also comes with

one year of technical support. If you need assistance, HP customer care can be

reached by either email or telephone. Before calling please locate the call center

nearest you from the list below. Have your proof of purchase and calculator serial

number ready when you call.

Telephone numbers are subject to change, and local and national telephone rates

may apply. A complete list is available on the web at: www.hp.com/support.

Warranty, Regulatory, and Contact

Information

Regulatory Information

Federal Communications Commission Notice

This equipment has been tested and found to comply 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. This equipment generates, uses, and can radiate radio frequency

energy and, if not installed and used in accordance with the instructions, may cause

harmful interference to radio communications. However, there is no guarantee that

interference will not occur in a particular installation. If this equipment does cause

harmful interference to radio or television reception, which can be determined by

turning the equipment 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.

• Increase the separation between the equipment and the receiver.

• Connect the equipment into an outlet on a circuit different from that to

which the receiver is connected.

• Consult the dealer or an experienced radio or television technician for

help.

Modifications

The FCC requires the user to be notified that any changes or modifications made to

this device that are not expressly approved by Hewlett-Packard Company may void

the user’s authority to operate the equipment.

Warranty, Regulatory, and Contact

Information

Declaration of Conformity for

Products Marked with FCC Logo,

United States Only

This device complies with Part 15 of the FCC Rules. Operation is subject to the

following two conditions: (1) this device may not cause harmful interference, and

(2) this device must accept any interference received, including interference that

may cause undesired operation.

If you have questions about the product that are not related to this declaration, write

Hewlett-Packard Company

P. O. Box 692000, Mail Stop 530113

Houston, TX 77269-2000

For questions regarding this FCC declaration, write to

Hewlett-Packard Company

P. O. Box 692000, Mail Stop 510101

Houston, TX 77269-2000

or call HP at 281-514-3333

To identify your product, refer to the part, series, or model number located on the

product.

Canadian Notice

This Class B digital apparatus meets all requirements of the Canadian Interference-

Causing Equipment Regulations.

Avis Canadien

Cet appareil numérique de la classe B respecte toutes les exigences du Règlement

sur le matériel brouilleur du Canada.

Warranty, Regulatory, and Contact

Information

European Union Regulatory Notice

This product complies with the following EU Directives:

•Low Voltage Directive 2006/95/EC

•EMC Directive 2004/108/EC

Compliance with these directives implies conformity to applicable harmonized

European standards (European Norms) which are listed on the EU Declaration of

Conformity issued by Hewlett-Packard for this product or product family.

This compliance is indicated by the following conformity marking placed on the

product:

This marking is valid for non-Telecom products

and EU harmonized Telecom products (e.g.

Bluetooth).

xxxx*

This marking is valid for EU non-harmonized

Telecom products .

*Notified body number (used only if

applicable - refer to the product label)

Hewlett-Packard GmbH, HQ-TRE, Herrenberger Srasse 140, 71034 Boeblingen,

Germany

Warranty, Regulatory, and Contact

Information

Japanese Notice

Disposal of Waste Equipment by Users in

Private Household in the European Union

This symbol on the product or on its packaging

indicates that this product must not be disposed of

with your other household waste. Instead, it is your

responsibility to dispose of your waste equipment by

handing it over to a designated collection point for

the recycling of waste electrical and electronic

equipment. The separate collection and recycling of your waste equipment at the

time of disposal will help to conserve natural resources and ensure that it is

recycled in a manner that protects human health and the environment. For more

information about where you can drop off your waste equipment for recycling,

please contact your local city office, your household waste disposal service or the

shop where you purchased the product.

Perchlorate Material - special handling may apply

This calculator's Memory Backup battery may contain perchlorate and

may require special handling when recycled or disposed in California.

Warranty, Regulatory, and Contact

Information

Table 10-1 Contact Information

Country/Region Contact

Africa (English) www.hp.com/support

Africa (French) www.hp.com/support

Argentina 0-800-555-5000

Australia 1300-551-664

Austria 01 360 277 1203

Belgium (French) 02 620 00 85

Belgium (English) 02 620 00 86

Bolivia 800-100-193

Brasil 0-800-709-7751

Canada 800-HP-INVENT

Caribbean 1-800-711-2884

Chile 800-360-999

China 010-68002397

Warranty, Regulatory, and Contact

Information

Table 10-1 Contact Information

Country/Region Contact

Colombia 01-8000-51-4746-8368

Costa Rica 0-800-011-0524

Czech Republic 296 335 612

Denmark 82 33 28 44

Ecuador 800-711-2884

El Salvador 800-6160

Finland 09 8171 0281

France 01 4993 9006

Germany 069 9530 7103

Greece 210 969 6421

Guatemala 1-800-999-5105

Honduras 800-711-2884

Hong Kong 852 2833-1111

Hungary www.hp.com/support

Warranty, Regulatory, and Contact

Information

Table 10-1 Contact Information

Country/Region Contact

India www.hp.com/support/india

Indonesia +65 6100 6682

Ireland 01 605 0356

Italy 02 754 19 782

Japan 81-3-6666-9925

Korea www.hp.com/support/korea

Malaysia +65 6100 6682

Mexico 01-800-474-68368

Middle East International www.hp.com/support

Netherlands 020 654 5301

New Zealand 0800-551-664

Nicaragua 1-800-711-2884

Norway 23500027

Panama 001-800-711-2884

Warranty, Regulatory, and Contact

Information

Table 10-1 Contact Information

Country/Region Contact

Paraguay (009) 800-541-0006

Peru 0-800-10111

Philippines +65 6100 6682

Poland www.hp.com/support

Portugal 021 318 0093

Puerto Rico 1-877 232 0589

Russia 495 228 3050

Singapore 6100 6682

South Africa 0800980410

South Korea 2-561-2700

Spain 913753382

Sweden 08 5199 2065

Switzerland (French) 022 827 8780

Switzerland (German) 01 439 5358

Warranty, Regulatory, and Contact

Information

Table 10-1 Contact Information

Country/Region Contact

Switzerland (Italian) 022 567 5308

Taiwan +852 2805-2563

Thailand +65 6100 6682

Turkey www.hp.com/support

United Kingdom 0207 458 0161

Uruguay 0004-054-177

United States 800-HP INVENT

Venezuela 0-800-474-68368

Vietnam +65 6100 6682

Hp 20B Business Consultant Financial Calculator Quick Start Guide ÿþM

HP 20b Calculator Quick Start Guide c01720653

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