HP 12C Financial Programmable Calculator User's Guide download pdf (Page 50)

50 Section 3: Basic Financial Functions

File name: hp 12c_user's guide_English_HDPMBF12E44 Page: 50 of 209

Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cm

Keystrokes Display

2Þ¼

–2.00

Stores i (with minus sign for a

“negative interest rate”).

32000Þ $

–32,000.00

Stores PV (with minus sign for cash

paid out).

28,346.96

Property value after 6 years.

Odd-Period Calculations

The cash flow diagrams and examples presented so far have dealt with financial

transactions in which interest begins to accrue at the beginning of the first regular

payment period. However, interest often begins to accrue prior to the beginning of

the first regular payment period. The period from the date interest begins accruing

to the date of the first payment, being not equal to the regular payment periods is

sometimes referred to as an “odd first period”. For simplicity, in using the hp 12c

we will always regard the first period as equal to the remaining periods, and we

will refer to the period between the date interest begins accruing and the

beginning of the first payment period as simply the “odd period” or the “odd

days”. (Note that the odd period is always assumed by the calculator to occur

before the first full payment period.) The following two cash flow diagrams

represent transactions including an odd period for payments in advance (Begin)

and for payments in arrears (End).

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HP 12C Financial Programmable Calculator User's Guide Page 50