HP 20b Business Consultant Financial Calculator User Manual Page 42
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Time Value of Money34
Using the Interest Conversion Menu
Find the effective rate of a 36.5% nominal rate compounded daily. See Table 3-6. See
Figure 3 for help with navigating through the menu.
Note: in TVM Standard, C/YR is the same number as P/YR in TVM calculations, since most
interest calculations are based on the same number of payments and compounding periods
per year, and interest rate conversions are commonly linked to a subsequent TVM calculation.
This feature is provided for your convenience, but this means modifying one number also
modifies the other when you are calculating in TVM Standard.
The IConv menu permits you to solve for C/YR, but the result is not always a positive integer.
TVM calculations, however, require C/YR to be an integer larger than zero. If you attempt to
perform a TVM calculation without a valid value for C/YR or P/YR, an invalid P/YR error (ER:
Invalid P/YR) will occur.
If you set C/YR to 0, the resulting interest conversions are calculated assuming a continuous
compounding. As stated above, 0 is not a valid value for P/YR or C/YR when used in TVM
calculations, and you will have to reset it to a valid value before performing TVM calculations.
To reset the menu items to their default values, with any item of the Interest Conversion menu
displayed press
:x. With IConv displayed, press I to reset, or O to
cancel. To exit the menu, press
O once again.
Table 3-6 Interest Rate Conversion Example
Keys Display Description
:&
Opens the IConv menu, starting with the current
value of the nominal percentage rate
36.
5I
Inputs 36.5 as the nominal percentage rate.
>
Scrolls to compounding periods per year, C/YR.
Default value is 12.
360
I
Inputs 360 as the value for the number of
compounding periods per year.
>=
Scrolls to the variable for the effective rate and
calculates it. A 36.5% nominal rate
compounded daily equals an effective rate of
44.02%.
- HP 20b Business Consultant 1
- HP 30b Business Professional 1
- Legal Notice 2
- Keyboard Map Legend 5
- Table of Contents 7
- Selecting a Language 9
- Two Line Display 10
- until the 11
- <<< 12
- << 12
- Basic Features 13
- Annunciators 14
- The Input Key 14
- The Equals Key 14
- Editing and Clearing Entries 15
- The On/CE Key 15
- The Reset Menu 15
- Notes about Special Menus 16
- Memory and the Memory Menu 16
- Accessing Menus and Menu Maps 16
- or > 17
- returns 17
- with that 17
- Basic Features10 18
- Mathematical Functions 19
- Number Entry and Display 19
- Chain Mode 20
- Algebraic Mode 20
- I or = are valid 21
- I, this 22
- + changes the 22
- <<<< 23
- Mathematical Calculations 25
- Mathematical Calculations18 26
- Random number 27
- The Math Menu 27
- I on any of these items to 28
- The Probability Sub-menu 29
- Binomial Functions 31
- Two-Number Functions 31
- Storing and Recalling Numbers 32
- Recall Arithmetic 32
- returns 0.25 33
- % to add or subtract x % 34
- - returns 150, or 200-25% 34
- 3 Time Value of Money 35
- :x. Press < or > 37
- A. The Amortization 37
- V, M and [ 37
- A followed by < or 38
- I to reset, or O to cancel 40
- :& 41
- O once again 42
- Canadian Mortgage Example 44
- as 1 is the default 45
- Cash Flow Example 46
- P and IRR R 49
- Cash Flows42 50
- Editing Cash Flows 52
- Sample Cash Flow Diagrams 54
- = to calculate it 56
- Bond Calculation Example 57
- O again to exit the menu 58
- :(HOLD)B 59
- The Black-Scholes Menu 60
- (the Black-Sholes key) 60
- = in the 61
- to scroll through the menu 62
- :(HOLD) B 63
- to scroll to the 64
- 8 Date Calculation 65
- 9Break-even 67
- The Percent Calculation Menu 69
- repeatedly to scroll to the 69
- Percent Calculation Examples 70
- to reset the menu, or O to 72
- 11 D e p r e c i a t i o n 73
- The Depreciation Menu 74
- Depreciation Example 75
- 12 Statistical Operations 77
- The Data and Stats Menus 78
- Statistics Example 80
- :z<< 82
- 13 Programming 83
- : and simultaneously 83
- : >or< 84
- Programming Example 85
- Program Step 0 86
- : and the < 87
- Programming80 88
- Figure 2 88
- (HOLD) 89
- Sub-Function Call 90
- and (HOLD) functions 90
- .05003:$1 91
- Messages 92
- (HOLD) . If you want to 93
- Programming86 94
- Table 13-4 94
- Digit Description 94
- Programming88 96
- 14 E rro r M e s s a g e s 97
- Replacing the Batteries 99
- Regulatory Information 100
- Modifications 101
- Canadian Notice 101
- Avis Canadien 101
- Japanese Notice 102
- Korean Notice 102
- Contact Information 103
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