HP 12C Platinum Financial Calculator User Manual download pdf (Page 158)

158 Appendix B

Savings

Compounding Periods Different From Payment Periods

C = number of compounding periods per year.

P = number of payment periods per year.

i = periodic interest rate, expressed as a percentage.

r = i / 100, periodic interest rate expressed as a decimal.

PMT

= ((1 + r / C)

C/P

− 1)100

Investment Analysis

Lease vs. Purchase

PMT

= loan payment for purchase.

PMT

= lease payment.

= interest portion of PMT

for period n.

= depreciation for period n.

= maintenance for period n.

T = marginal tax rate.

Net purchase advantage =

()

∑

−

)(owning ofcost )(leasing ofcost

Cost of leasing(n) = (1 − T) PMT

Cost of owning(n) = PMT

− T(I

+ D

) + (1 − T)M

Break-Even Analysis and Operating Leverage

GP = Gross Profit.

P = Price per unit.

V = Variable costs per unit.

F = Fixed costs.

U = number of Units.

OL = Operating Leverage.

GP = U(P − V) − F

()

FVPU

VPU

−−

−

Profit and Loss Analysis

Net income = (1 − tax) (net sales price − manufacturing expense − operating expense)

Net sales price = list price(1 − discount rate)

where operating expense represents a percentage of net sales price.

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HP 12C Platinum Financial Calculator User Manual Page 158

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