HP (Hewlett-Packard) F1902-90001 manuel d'utilisation

檔名: title _English- 050105. doc 頁碼: 第 1/2 頁 hp 10BII financial calculator user ’s guide Edition 1 HP part number F1902-90 001[...]

檔名: 10BII _English( MP02-2)- 040917( Print) 頁碼: 第 2/2 頁 Notice REGISTER YOUR PR ODUCT AT: www. register.hp.com THIS MANUAL AND A NY EXAMPLES CONTAINED HEREIN ARE PROVIDED “A S IS” AND ARE SUBJ ECT TO CH ANGE WITHOUT NOTICE. HEWLETT-PACKARD COMPANY MAKES NO WARRANT Y OF ANY K IND WITH REGARD TO TH IS MANUAL , INCLUDI NG, BUT NOT LIM [...]

Welcome to the HP 10BII 3 W elcome to the HP 10BII < RXU+3%,,  UHI OHFWVWKHV XSHULRUTXDOLWDQGDWWHQ WLRQWRGHWDLOLQ HQJLQHHULQ JDQGPDQXIDFWXULQ JWKDWKDYHGLVWLQJXLVKHG+HZOHWW3DFN DUG SURGXFWVIRU  HDUV  +HZOHWW3DFNDUG VWDQ GV EH KLQG WKLV FDOFXODW[...]

4 Welcome to the HP 10BII Features 7KH IHDWXUHVR IWKH+3%,, DQGWKHPDQXDOUHI OHFWWKHQHHGVDQG ZLVKHVRI PDQFXV WRPHUV $ODUJH FKDUDFWHUGLVS OD  $Q $WD*ODQFH VHFWLRQ LQWKHPDQXDOIR UTXLFNUHIHUHQFH $SSOLFDWLRQ VWRVR OYHEXVLQHVVDQG[...]

Contents 5 Contents 11 At a Glance. . . 11 %DVLFV³$WD* ODQFH 12 3HUFHQ WDJHV³$WD*ODQ FH 13 0HPRU .HV³ $WD*ODQFH« 14 7LPH9DOXHRI 0RQH 790³$WD*ODQFH« 15 790:KDWLI«³ $WD*ODQFH« 16 $PRUWL]DWLR Q³$WD*ODQ FH« 17 ,QWHUHV W5DWH&RQYHUV LRQ³$WD*ODQ[...]

6C o n t e n t s 2 33 Busi ness P er centa ges 33 3HUFHQW.H 33 )LQGLQJD3 HUFHQW 34 $GGLQJRU6XEWUDF WLQJD3HUFH QW 34 3HUFHQ W&KDQJH 35 0DUJLQDQG0DU NXS&DOFXODWLRQV 35 0DUJLQ&DOFXODWLR QV 35 0DUNXSRQ &RVW&DOFXODWLR QV 36 8VLQJ0D UJLQDQ G0DUNXS7RJHWKHU 3 37 Numb er Sto r age[...]

Contents 7 5 53 Time Val ue of M on ey Calcu latio ns 53 8VLQJWK H790$SS OLFDWLRQ 54 &OHDULQJ790 55 %HJLQDQG(Q G0RGHV 55 /RDQ&D OFXODWLRQV 60 6DYLQJV&DOFXODWLRQ V 63 /HDVH&DOFXODWLR QV 67 $PRUWL]DWLR Q 72 ,QWHUHV W5DWH&RQYHUV LRQV 72 ,QYHVWPHQ WV:LWK'LI IHUHQW&RP SRXQ GLQJ[...]

8C o n t e n t s 8 95 Ad diti onal Exa mple s 95 %XVLQHVV$SS OLFDWLRQV 95 6HWWLQJD6DOHV3ULFH 96 )RUHF DVWLQJ%DVHGR Q+LVWRU 97 &RVW RI 1RW7D NLQ J D &DV K' LVF RXQW 98 /RDQVDQ G0RUWJDJHV 98 6LPSOH$QQ XDO,QWHUH VW 98 &RQWLQXR XV&RPS RXQGLQJ 99 <LHOGRID'LVF RX[...]

Contents 9 123 ,IWKH&DOFXODWRU5HTXLU HV6HUYLFH 123 2EWDLQLQJ6HUYLFH 124 6HUYLFH&KDUJH 124 6KLSSLQJ,Q VWUXFWLRQ V 124 :D UUDQ W RQ 6 HUY LFH 125 6HUYLFH$JUHHPHQWV 125 5HJXODWRU,QI RUPDWLR Q 126 (QG X VHU WHUPVD QG F RQGL W LRQV B 129 More Ab out Cal cul ation s 129 ,55<5&DOFXODWLRQV[...]

TOC.fm Page 1 0 Thursday, June 22, 2000 12:31 PM[...]

11 At a Glance... At a Glance... 7KLV VHFWLRQLV GHVLJQHGIRURXLIRX·UHDOUHDGIDPLOLDUZLWKFDOFXODWRU  RSHUDWLR QRUI LQDQFLDOFRQ FH SWV < RXFDQXVHLWIRUTXLFNUHIHUHQ FH7KH UHVWRIWKHP DQXDOLVILOOHGZLWKH[SODQ DWLRQVDQ GH[DPSOHVR IWKH FRQF[...]

12 At a Glance... P ercentages—At a Gl ance... $GGWR )LQGWKHPDU JLQLIWKHFR VWLVDQGVHOOLQJSU LFHLV ,IWKHFRV WLVDQGWKHPDU NXSLVZKDWLVWKHVHOOLQ JSULFH" 3HUFHQW?[...]

At a Glance... 1 3 Memory K e ys—At a Glance… 0XOWLSODQGEVWRULQJ´ïµDVDFR QVWDQ WRSHUDWLRQ  6WRUHLQUHJLVWHUWK HQUHFDOOLW 6WRUHVDFRQ VWDQWRS HUDWLRQ 6WRUHVDYDOXHLQWKH0UHJLVWHUPH PRU OR FDWL[...]

14 At a Glance... Time V alue of Mone y (TVM)—At a G lance… (QWHUDQIR XURI WKHILYHY DOXHVDQ GVROYHIRUWKHI LIWK $QHJD WLY HVLJQLQWKHGLVSODUH SUHV HQWVPRQ HSDLGRXW PRQHU HFHLY HGLVSRVLWLYH  ,IRXERU U RZ39IRU?[...]

At a Glance... 1 5 TVM What i f…—At a Glance… ,WLV QRWQHFHVVDU WR UHHQWHU790Y DOXHVIRUHDFK H[DPSOH 8VLQJWKHYDOXHVRXMXVWHQWHUHGSDJ H KRZPXFKFDQ RXERU URZLIRXZDQWDSDPHQWRI " +RZPXFKFDQRXERU URZ[...]

16 At a Glance... Amor tization—At a Glance… $IWHUFDOFXODWLQJDSDPHQ WXVLQJ7LPH9 DOXHR I0RQH  790HQWHUWKHSHU LRGVWRDPR UWL]HD QGSUHV V  7KHQS UHVV  WRFRQWLQXDOOFFOHWKU RXJKWKHSU LQFLSDO LQWHUHVWDQGEDOD QFHYDOXHVLQGLFDWHGEWKH?[...]

At a Glance... 1 7 Interest Rate Con ver sion—At a Glance… 7 RFRQYHUWEHWZHHQQR PLQDODQ GHIIHFWLY HLQWHUHVWUDWHV HQWHUWKHNQRZQ UDWHDQGWKHQXPE HURISHU LRGVSHU HDU WKHQVROYHIRUWK HXQNQRZQU DWH )LQGWKHDQQXDOHII HFWLY HLQWHUHVWUDWHRI QR[...]

18 At a Glance... IRR/Y R an d NPV—At a Glance… ,IRXKDYHDQLQLWLDOFDVKRXWI ORZRIIR OORZHGEPRQWKOFDVK LQI ORZVRIDQGZKDWLVWK H ,55<5 " :K D WLV  W[...]

At a Glance... 1 9 Statis tic s—At a Glance… 8VLQJWKHI ROORZLQJGDWDILQ GWKHPHDQVRI  [ DQG WKHVDPSOHV WDQGDUG GHYLDWLRQVRI  [ DQG DQGWKH LQWHU FHSWDQGWK HVORSH RIWKHOLQHDU  UHJ UHVVLR QIRUHFDVWOLQH7KHQ XVHVXPPDWLRQVWDWLVW[...]

20 At a Glance... Ke ys: Display: D escription: 0.00 &OHDU VVWDWLVWLFVUHJLV WHUV  1.00 (QWHU VILUVW [ SDLU  2.00 (QWHU VVHFR QG [ SDLU 3.00 (QWHU VWKLUG [ S DLU  4.00 'LV SODVPHDQR I [  100.00 'LVSODVPHDQRI  2.00 'LV SODVVDPS OHVWDQ GDU[...]

At a Glance... 2 1 Key bo a rd Ma p 1. Time value of money (page 53) 2. Separate two numbers (page 28) 3. Per cent (page 33) 4. Constant (page 37) 5. Store and recal l (page 40) 6. Change sign (page 24) 7. Statistics key (page 27) 8. Shift key (page 27) 9. Clear display , cancel operation (page 25) 10. Clear all memor y (page 25) 11. On (page 87) 1[...]

fm Page 22 Sunday, June 25, 2000 2:21 PM[...]

1: Getting S tarted 23 1 Getting Star ted P ower On and Of f 7 R WXU QRQRXU+3 %,,SU HVV 7 RWXU QWKHFD OFXODWRU RIISUHVVWK HRUDQ JHVKLI WNH WKHQ DOVRZULWWHQ  6LQFHWKHFDOFXODWRUK DVFRQ WLQXRXVPHPRU WXUQLQ JLWRII GRHV[...]

24 1: Getting Started :KHQD FDOFXODWLRQK DVEHHQFR PSOHWHGESUHV VLQJ SU HVVLQJD QXPEHUNHVWDU WVDQHZFDOFXODWLR Q ,IRXSUHVVD QRS HUDWRUNHDIWHUFRP SOHWLQJDFDOFXODWLR QWKH FDOFXODWLRQLVFR QWLQXHG < RXFDQGRFKDLQFDOFXODWLR QVZLWKR[...]

1: Getting S tarted 25 Understa nding the Displa y and Ke yboard Cursor 7KHFXU VRUBLVYLVLEOH ZKHQRXDUHHQWHULQ JDQXPEHU Clearing the Calculator :KHQ WKHFXUVRULVRQ HUDVH VWKHODVWGLJLW RXHQWHUHG 2WKHUZLVH FOHDUVWKHGLVS ODDQGFDQFHOV WKH [...]

26 1: Getting Started Annunciators $QQXQFLDWRUVDU HVPE ROVLQWKHGLVS ODWKDWLQGLFDWHWKHVWDWXVRI WKH FDOFXODWRU Annunciator S tatus SHIFT 7 KHVK LIWNH KDVEHHQ SUHVVHG: KHQDQ RWKHU NH LV  SUHVVHGW KH IXQFWLRQODEHOHG LQ RUDQJHRQ WKH NHLV?[...]

1: Getting S tarted 27 Shift K e y 0RVWRI WKH+3%, ,NHVKDY HDVHFRQGR U´VKLIWHGµ IXQFWLRQ SULQWHGLQ RUDQJ HRQWK HNH 7K HRUDQ JHV KLIW NH LVXVHGWRDFFHVVWKHVHIXQ FWLRQV :KHQ RXSUHVV WKHV KLIWDQQXQFLDWRU  SHIF T LV[...]

28 1: Getting Started INPUT K ey 7KH  NHLVXVHGWRVHSD UDWHWZ RQXPEHUVZKH QXVLQJ WZ RQXPEH UIXQFWLRQV RUWZRYDULDEOHVWDWLVWLFV 7KH  NHFDQDOVREHXVHGWRHYDOXDWHDQSHQ GLQJDULWK PHWLF RSHUDWLR QVLQZKLFKFDVHWKHUHVXOWLVWKHV DPHDVSU[...]

1: Getting S tarted 29 T wo-Number Functions. :KHQDIXQ FWLRQUHTXLUHVWZR QXPEHUVWKHQXPEHUVDUHHQ WHUHGOLNHWKLV QXPEHU  QXPEHU IROORZHGE WKHRSHU DWLRQ3U HVVLQ J HYDOXDWHV WKHFXU UHQ WH[SUHVVLR QDQGGLVS ODVWKH INPUT  DQQXQFLDWRU) R UH[DPS OH[...]

30 1: Getting Started Speci fying Disp layed Decimal Pl ac es 7 R VSHFLI WKHQXPEHURI GLVSODHGGHFLPDOSODF HV  3UHVV   (QWHUWKHQXPE HURIGLJLWVWKUR XJKWKDWRXZLVKWRDSS HDU DIWHUWKHGHFLP DOSRLQ W :KHQDQXPEHULVWRR ODUJH  RUWRR?[...]

1: Getting S tarted 31 Displaying the Full Precision of Number s 7 RVHWRXUFDOFXODWRUWRGLVS ODQXPEHUVDVS UHFLVHODV SRVV LEOHSUHVV WUDLOLQ J]HURVDUHQ RWGLVSODHG 7 RWHPSRU DULOYLHZDOOGLJLWVRIWK HQXPEHULQ WKHGLVSODUHJ DUGOHVVR IWKH[...]

32 1: Getting Started Rounding Numbers 7K HFDOFXODWRUV WRUHVDQGFDOFXODWHVXV LQJGLJLW QXPEHUV:KHQGLJLWDFFXUDFLVQR WGHVLUDEOHXVH WRURXQGWKHQXPEH UWRWKHGLVS ODHGIRU PD W EHIR UHXVLQJLWLQDFD OFXODWLRQ5RXQGLQJQXPEHUV LVXVHIXO?[...]

2: Business Percentages 3 3 2 Business P er c entages < RXFDQXVHWKH+3 %,,WRFDOF XODWHVLPSOHSHUF HQWSHU FHQWFKDQJH FRVWSULFHPDUJLQ DQGPDU NXS  P e r cent Ke y 7KH  NHKDVWZ RIXQFWLRQ VILQGLQJDS HUFHQWDQ G DGGLQJRUVXE WUDFWLQJDSHU F[...]

34 2: Business Percentages Adding or Subtracting a P er cent < RXFDQDGGRUVXE WUDFWDSHUF HQWLQRQHFDOF XODWLRQ Example . 'HFUHDV HE Example . < RX ERU URZ  IURPD UHODWLY H DQG RXDJUHH  WR UHSD  WKH ORDQLQDHD U?[...]

2: Business Percentages 3 5 Mar gin and Markup Calculations 7KH+ 3%,,FD QFDOFXODWHFRVWVHOOLQ JSULFHPDUJLQ RUPDU NXS  7 R VHHDQ YDOXHXVHGE WKH0DUJLQ DQG0DUNXSDSS OLFDWLRQS UHVV  DQGWKHQWKHNHRXZLVKWRVHH)RUH[DPSOHWRVHH?[...]

36 2: Business Percentages Using Margin and Markup T og ether Example . $IR RGFRRSHUDWLYH EXVFDVHVRI FDQQHGVRXSZLWKDQLQYRLFH FRVWRI SH UFDVH  ,IW KHFRRSURXWLQHOXVHV D  PD U NXS IRUZKDW SULFHVKR XOGLWVHOODFDVHRI VRXS&[...]

3: Number Storag e and Arithmetic 37 3 Number Storage and Arithmetic Using S tored Num bers in Calc ulation s < RXFDQVWRUHQXPE HUVIRUUHXVHLQVHYHUDOGLIIHUH QWZD V 8VH &RQVWDQWWRVWRUHDQXPE HUDQGLWVR SHUDWRUI RUUH SHWLWLYH RSHUD WL RQV  8VH.H0HPR U ?[...]

38 3: Number Storage and Arithmetic Example . &DOFXODWHDQG Example . &DOFXODWHDQG Example . &DOFXODWH DQG  Keys Operation QXPEHU 6WRUHV´ QXPEHU µDV[...]

3: Number Storag e and Arithmetic 39 Using t he M Register 7KH   DQG NHVSHUIRU P PHPRU RSHU DWLRQV  RQ DVLQJOHVWRU DJH UHJLVWHUFDOOHGWKH0UHJLVWHU ,QPR VW FDVHVLWLVXQQHFHVVDU WRFOHDUWKH0 UHJLVWHUVLQFH UHSODF HVWKHSU HYLRXVFRQWHQ WV ?[...]

40 3: Number Storage and Arithmetic Using Numbered Registers 7KH  DQG NHVDFFHVVWKHXVHU UHJLVWHUV 7KH NHLVXVHGWRFRSWKHGLVS ODHGQXPEHUWRD GHVLJQDWHGUHJLVWHU7KH NHLVXVHGWRFRSDQXPEHU IURP DUHJLVWHUWR WKHGLVSOD  7 R [...]

3: Number Storag e and Arithmetic 41 Doing Arithmetic Inside Registers < RXFDQGRDULWKP HWLFLQVLGHVWR UDJHUHJLV WHUV5 WKU RXJK5 7K HUHVXOW LVVWRUHGLQWKHU HJLVWHU  Examp le. 6WRUHLQ 5 PXOWLSOEDQGVWRUHWK HUHVXOWLQ5  Keys New [...]

42 3: Number Storage and Arithmetic Doing Arithmetic 0DWKIXQF WLRQVR SHUDWHRQWK HQXPEHULQ WKHGLVSOD  Example . &DOFXODWH  WKHQ FDOFXODWH   Example . &DOFXODWHQD WXUDOORJDU LWKPH 7 KHQFDOFXODWH Keys: Disp[...]

3: Number Storag e and Arithmetic 43 P ower Operator 7K HSRZHURSHUD WRU UDLVHVWKHSUHFHGLQJQXPE HU  Y DOXHWRWKHSRZHURIWKHI ROORZLQJQXPEHU [ YDOXH Examp le. &DOFXODWH WKHQ ILQGWKHF XEHURRWRI  Using P arentheses in Calculati[...]

44 3: Number Storage and Arithmetic 7 R GHOD  WKH GLYLVLRQXQWLO RX·YH VXEWUDFWHG IURP XVHSDUHQWKHV HV  &ORVLQJSD UHQWKH VHVDWWKHHQGRI WKHH[SUHV VLRQ FDQEHRP LWWHG) R U H[DPSOHHQWHULQJ´ ÷ ï ?[...]

4: Pi cturing Fina ncia l Pro blems 45 4 Picturing Financi al Pr oblems How to approac h a Financial Prob le m 7KHI LQDQF LDOYRFDEXODU RIWKH+ 3%,,LV VLPSOLILHGWRDS SOWRDOO ILQDQFLDOI LHOGV ) RUH[DPSOHRXUSURIH VVLRQ PDXVHWKHWHU P  EDODQFH  EDOORRQSDPHQW ?[...]

46 4: P ict ur i ng F in a nc ial Prob le ms $QFDVKI ORZH[DP SOHFDQEHU HS UHVHQ WHGEDFDVKIORZGLDJ U DP$V RXGUDZDFDVKIORZGLDJ UD PLGHQWLIZKDWLVNQ RZQDQGXQNQRZQ  DERXWWKHWUDQ VDFWLRQ 7LPHLV UH SU HVHQWHG E D KRUL]R QWDO OLQH GLYLGHG [...]

4: Pi cturing Fina ncia l Pro blems 47 P eriods and Cash Flows ,QD GG LW LRQWR WK H VLJ Q FRQ Y HQW LRQ FDVK IORZ LQ J RXW  LV QHJDW L Y HF DVK IORZLQJLQ LVSRV LWLY HRQFDVKI ORZGLDJ UDPVWKHUHDUHVHYHUDOPRU H FRQVLGHUDWLR QV 7K H WLPH OLQH LV GLYLGHG[...]

48 4: P ict ur i ng F in a nc ial Prob le ms Compound Interest $FRPSR XQGLQWHU HVWFRQWUDFWLVOLNHDVHULHVR IVLPS OHLQWHUH VWFRQWUDFWV WKDW DUH FR QQH FWHG 7 K H OHQ JWK RI HDFK VLPS OHLQ WHUHVW FRQWUDFW LV HTXDOW R RQHFRP SRXQ GLQJSHULRG$WWKHHQ GRIHD[...]

4: Pi cturing Fina ncia l Pro blems 49 Inte rest Rat es :KHQRXDSSURDFKD ILQDQFLDOSURE OHPLW LV LPSRU WDQWWRUHFRJQL]HWKDW WKHLQWHUHVWUDWHR UUDWHRI UHWXUQ FDQE HGHVFULEH GLQDWOHDVWWKUHH GLIIHUHQWZDV $V D S HULRGLFUDWH 7KLVLV WKHUDWH WKD[...]

50 4: P ict ur i ng F in a nc ial Prob le ms < RXFDQFDOFXODWHDQYDOXHDIWHUHQ WHULQJWKHR WKHUIRXU&DVKIORZ GLDJU DPVIR UORDQVPRU WJ DJHVOHDVHV VDYLQJVDFFRXQWVRUDQFR QWUDFW ZLWKUHJXODU FDVKIORZVRIWKH V DPHDPRXQWDUH QRU P DOOW UHDWHG?[...]

4: Pi cturing Fina ncia l Pro blems 51 Recognizing a Cash Flow Pr ob lem $ILQDQFLDOS URE OHPWKDWGRHVQR WKDY HUHJXODUXQLIRU PSDPHQ WV VRPHWLPHVFDOOHG XQHY HQ  FDVKI ORZVLVDFDVKIORZSUR EOHP UDWKHUWKDQD 790SURE OHP $FDVKI ORZGLDJ UDPIRU DQLQYHVWPHQW?[...]

ook Page 52 Wednesday, June 21, 2000 5:19 PM[...]

5: Time V alue of Money Calculations 53 5 Time V alue of Money Calculati ons Using the TVM Application 7K HWLPHYDOXHRIPRQ H790DSSOLFDWLRQ LVXVHGIRU  FRPSR XQGLQWHUH VWFDOFXODWLRQVWKDWLQYROYHUHJXODU  XQLIRU P  FDV K IORZV² FDOOHG SDPHQWV  2Q FH WKH Y DOXHV DU H[...]

54 5: Time Value of Money Calculations 7 R YHULIYDOXHV S UHVV    DQ G  3UHVVLQ J UHFDOOVWK HWRWDOQXPEHURIS DPHQWVLQH DUVDQG VKRZVRXWKHQXPEHUR ISDPHQ WVSHUHDU5 HF DOOLQJWKHVH QXPEHUVGRHV QRWFKDQJ HWKHFRQ WHQWRI[...]

5: Time V alue of Money Calculations 55 Begin and End Modes %HIRU HRXVWDU WD790FDOFXODWLRQLGHQWLIZK HWKHUWK H ILUVWSHU LRGLFSDPHQ WRFFXUVDWWKHEHJLQ QLQJR UHQGRI  WKHILUVWS HULRG,I WKHILUVWSDPHQWR FFXUVDWWKHHQ GRI WKHILUVWS HULRGVHW[...]

56 5: Time Value of Money Calculations Pa r t 2 . $W DSULFH RI  ZKDW LQWHUHVW UDWH LV QH FHVVDU WR ORZHU RXU SDPHQWEWR" Pa r t 3 . ,ILQWHUHVWLV ZKDWLVWKHPD [LPXPRXFDQVSHQG[...]

5: Time V alue of Money Calculations 57 Example: A Home Mor tgage. < RXGHFLGHWKDWWKHPD[LPXPPRQ WKO PRU WJ DJHSDPHQ WRXFDQDIIR UGLV< RXFDQPDNHD GRZQ SDPHQW DQ G DQQXDO LQ WHUHVW UDWHV DUH FXUU HQWO ?[...]

58 5: Time Value of Money Calculations Example: A Mortgage With a Balloon Pa yment. < RX·YHREWDLQHGD HDUPRUWJ DJ HDWDQQXDOLQWHUHVW< RXDQWLFLS DWHWKDW RXZLOORZQWKHKRXVHIR UIR XUHDUVDQGWKHQ VHOOLWUH SDLQJWKH?[...]

5: Time V alue of Money Calculations 59 Step 2 . 6LQFHWKHSDPHQ WLVDWWKHHQGRI WKHPRQWK WKHSDVWS D PHQW DQGW KH EDOORR Q SDPHQW RFFXUDW WKHVDPH WLPH 7 KHILQDO S DPHQW LV WKH VXPRI 30 7 DQG )9  7K HYDOXHLQ 307 VKRXOGDOZDVEHUR[...]

60 5: Time Value of Money Calculations Savings Calculat ions Example: A Savings Accoun t. ,I  RXGHS RVLWLQDVDYLQJV DFFRXQWWKDWSDVDQ QXDOLQWHUHVWFRP SRXQGHGDQQXDOO DQGPDNH QRRWKHUGH SRVLWV WRWKHDFFRXQWKRZORQJZLOOLW WDNH IRUWK[...]

5: Time V alue of Money Calculations 61 6LQFHWKHFDOFXODWHG YDOXH RI 1 LV EHWZHHQ DQG LWZLOO WDNHVL[ HDUVRI DQQXDOFRPSRXQ GLQJWRDFKLHY HD EDODQFHRIDW OHDVW  &DOFXODWHWKH DFWXDOEDODQFHDWWKHHQ GRIVL[HDU V  [...]

62 5: Time Value of Money Calculations Exa m pl e: An Ann ui ty A ccou nt . < RX RSW IRU DQ HDUO UHWLUHPHQ W DIWHU D VXFFHVVIXOE XVLQHVV FDUHHU< RXKDYHDFFXPXODWHGDVDYL QJVRI  WKDWHDUQVDQDY HUDJHRIDQQXDO LQ WHUHVWFRPSR XQGHGPRQ[...]

5: Time V alue of Money Calculations 63 Lease Calculat ions $OHDVHLVDORDQR IYDOXDEOHSURS HU WOLNHUHDOHVWDWHDXWRPRELOHVRU HTXLSPHQWIR UDVSHFLI LFDPRXQWRI WLPHLQH[ FKDQJHI RUU HJXODU SDPHQWV6RPHOHDVHVDUHZULWWHQDVS XUFKDVHDJ UHHPH QWV[...]

64 5: Time Value of Money Calculations 6HWWR%HJLQPRGH3UHVV LIDQ QXQFLDWRULV QRWGLVSODHG 1RWLFHWKDWHYHQLIWKHFXVWRP HUFKRR VHVQRWWRE XWKHFDUWKHOHVVRU VWLOOLQFOXGHVDFDVKI ORZFRPLQJLQ DWWKHHQGRIWKHOHDV HHTXDOWRWKH UHVLGXDO?[...]

5: Time V alue of Money Calculations 65 Example: L ease Wit h Advance Pa y ments. < RX U FRPS DQ  4XLF N.L W  3 ROH %D U QV  S ODQVW R OHDVH D IRU NOLIW I RUW KH ZDUHK RXVH 7KH OHDVH LV ZULWWHQ IRUD WHU P RI HDUV ZLWK PRQWK O SDPHQWVRI ?[...]

66 5: Time Value of Money Calculations Step 2. $GGW KHDGGLWLRQDODGYDQFHSDPHQ WWR39 6WRUHWKHDQ VZHU  Step 3. )LQGWKHSUHVH QWYDOXHRIWKHEXRSWLRQ  Step 4. $GGW KHUHVXOWVR IVWH SVDQG Keys: Display: Description : 12.0 0 6HWVSDPHQWV SHUHDU  47.0 0 6WRUHV[...]

5: Time V alue of Money Calculations 67 Amor tization $PRU WL]DWLRQ  LV WKH S URFH VVRI GLYLGLQJ D SDPHQWLQWR WKH DPRXQWWKD WDSSOLHVWR LQWHUHVWDQGWKHDP RXQWWKDW DSSOLHVWR SULQFLS DO 3 DPHQWV QHDU WKH EHJLQQLQ J RID ORDQ FRQWULE XWH PRUH LQWHUHVW [...]

68 5: Time Value of Money Calculations 7KH  QXPEHUV GLVSODHG IRULQWHUHVW S ULQFLS DO DQG E DODQFHDUH UR XQGHG WR WKHFXU UHQ WGLVSODVHWWLQJ  T o Amortiz e. 7 RDP RU WL]HDVLQJOHS DPHQWHQWHUWKHSHU LRGQXPEHU  DQGSUHVV  7 KH+3%,, GLVSODV[...]

5: Time V alue of Money Calculations 69 ,I RX DOUHDG NQRZ WKH PR U WJDJ H SDPHQW RX FDQ HQWHU D QG VWRUH LW MXVW OLNHRXVWRUHWKHRWKHUIR XUYDOXHV 1 H[WDPRU WL]HWKHILU VWHDU  7KHDP RXQWS DLGWRZDUGLQWHUHVWDQGSULQFLSD O[...]

70 5: Time Value of Money Calculations $PRU WL]HWKHVH FRQGHDU  7KH DPRXQWS DLGWRZDUGLQWHUHVWDQGSULQFLSD O  HTXDOVWKHWRWDORIPR QWKOSDPHQ WVï ?[...]

5: Time V alue of Money Calculations 71 $PRU WL]HWKH  D QG SD P HQ WV 1.00 (QWHU VILUV WSDPHQW 1– 1 'LVSODV3(5DQGWKH  DPRU WL]HGSDPHQWS HULRG –310.42 'LVSODV 35,1 DQ G WKH ILU VW SULQFLSDOS DPHQW 0.00 'LV SODV,17DQGWKHL[...]

72 5: Time Value of Money Calculations Inte r est R ate C o nversion s 7K H,QWHUH VW&RQYHUVLRQDSSOLFDWLR QXVHVWKU HHNHV   DQ G  7 K H FRQYHU W EHWZHHQ QRPLQDO DQGDQQXDOHII HFWLY HLQWHUHVWUDWHV 1RPLQ DODQGHII HFWLY H LQWHUHVWUDWHV DUHGHVFULE HGRQ[...]

5: Time V alue of Money Calculations 73 First Bank Second Bank Third Bank )LUVW%DQNR IIHUV DVOLJKWOEHWWHUGHDOVLQ FHLVJ UHDWHUWK DQDQG  Compounding and P a yment P eriods Differ 7K H790DSS OLFDWLRQDVVXPH VWKDWWKHFR PSR XQGLQJ SHULRGV DQGWKH?[...]

74 5: Time Value of Money Calculations 7 R DGMXVW DQLQWHUHVWUDWHZKHQWKH FRPSR XQGLQJSHULR G GLIIHUVIURP WKH SDPHQWSHULR GFRPS OHWHWKHIROORZLQJVWH SV  (QWHUWKHQ RPLQ DOUDWHDQGSUHVV  (QWHUWK HQXPEHUR I FRPSRXQGLQJ SHULRGV  LQD HDU DQGSU[...]

6: Cash Fl ow Calculations 75 6 Cash Flow Calculations How to Use the Cash Flo w Application 7KH FDVK IOR Z DSSOL FD WLR Q LV XV HG  WR VRO Y H SUREOH PV ZKHUH FDVKI ORZVRFF XURY HUUHJXODULQ WHU YDOVEXWDUHRI Y DU LQJ DPRXQWV< RXFDQ DOVRXVHFD VKI ORZFDOFXODWLRQV?[...]

76 6: Cash Flow Calculations XXX Keys: Display: Description : 0.00 &OHDU VDOOUHJLVWHU V  12.0 0 6WRUHVS HULRGVSHU HDU  –5,0 00. 00 (QWHUV LQLWLDO FDVKIORZ  'LVSODVFDVK I ORZ JU RXSQXPE HUZKLOH RXKROGGRZQ  –2,0 00. 00 (QWHUVQH[WFDV KI ORZ  –4,0 00. 00 (QW[...]

6: Cash Fl ow Calculations 77 NPV and IRR/YR: Discontinuing Cash Flows &KDSWHUGHPRQVWUDWHVWKHXVHRIFDVKIORZGLDJ UDPVWRFODULIILQDQ FLDO SUREOH PV 7KLV VHFWLRQ GHVFULEHVGLVFR XQWHGFDVKI ORZV 7KH 139 DQG ,55<5 IXQFWLRQ VDUHIUHTXHQWOUHIHU UHGWRDV [...]

78 6: Cash Flow Calculations :KHQH YHU RXHQWHUDV HULHVRI FDVKI ORZVL WLVLPSRU WDQWWRDF FRXQWIR U HYHUSH ULRGRQ WKHFDVKI ORZGLDJ UDP HY HQSHULR GVZLWKFDVK IORZVR I ]HUR  Entering Cash Flo ws 7KH +3%,,F DQVWRUHDQ LQLWLDOFDVKI ORZ?[...]

6: Cash Fl ow Calculations 79 Examp le. (Q WHUWKHFDV KI ORZVIURP WKHSUHFHGLQJGLDJ U DPDQG FDOFXODWHWKH ,55 <5 7KHQFDOFXODWHWK HHIIHFWLYHLQWHUHVWUDWH$VVXPH WKHUHDUHSHU LRGVSHU HDU  Viewing and Replacing Cash Flows 7 R YLHZDFDVKI ORZ SUH[...]

80 6: Cash Flow Calculations 7 R UH SODFHDFDVKI ORZDPRXQWSU HVV WR WRVWR UHWKHQ HZDPRXQWLQFDV KI ORZVWR WR WRV WRUHWKHQ HZDPRXQWLQFD VKI ORZVWR WRVWRUHWKHDP RXQWLQWK HQH[WFDVKI ORZ WRVWRUHWKHDP RXQWLQWK [...]

6: Cash Fl ow Calculations 81 +RZPXFKVKRXOGRXSDIRUWKHFRQ WUDFWLIRXZLVKWR LHOGDHDUO UDWHRIRQ RXULQY HVWPHQW" Ke ys: Display: Des cription: 0.00 &OHDU VUHJLVWHUV 12.00 6HWVSDPHQ WVSHUH DU  0.00 (QWHU VLQLWLDOFDVK IORZ RI]HUR7K[...]

82 6: Cash Flow Calculations 7KH FDVKI ORZVWKDWGHVFULE HRXUSUR VSHFWLYHLQ YHVWPHQWDUHQRZLQWKH FDOFXODWRU< RXFDQS UHVV IR OORZHGE DQG  UHSH DWHGOWRYLHZWKHFDVK IORZVDQ GQXPEHURI WLPHVHDFKRFF XUV  1RZWKDWRXKDYHHQWHUHGWKH[...]

6: Cash Fl ow Calculations 83 Calcula ting Intern al Rate of Ret urn  3UHVV VWRU HQXPEHUR ISHULRGV SHUHDU LQ 3<5   (QWHUWKHFDV KI ORZVXVLQJ DQG   3UHVV  :KHQRXFDOFXODWH ,55<5 RXJHWWKHDQ QXDOQRPLQ DOUDWHWKDWJLYHV DQ?[...]

84 6: Cash Flow Calculations A utomatic Storage of IRR/YR and NPV :KHQRXFDOFXODWH 139 WKH UHVXOWLVVWRU HGLQ 39 IRURXU FRQYHQLHQFH7 RUH FDOOWKDWUHVXOWSU HVV ,I RX KD Y HQ ·W F KD QJHG WKH790YDOXHVIURPWKHODV WH[DPSOHXVLQ J 139 SDJH ?[...]

7: Statistical Calculation s 8 5 7 Statistical Calculations 7KH  DQG NHVDUHXVHGWRHQWHUDQ GGHOHWHGDWD IRUR QHDQ GWZ RYDULDEOHVWDWLVWLFV 6XPPDWLRQ GDWDLV VWRUHGLQP HPRU 7 KHODEHOV DERY HWKH WR NHV LQGLFDWH ZKDW VXPP DWLRQ GDWD LV?[...]

86 7: Statistical Calculations Entering Statisti cal Data 7KH UHLVQR OLPLWWRWKHQXPEHURI YDOXHVRXFDQDFFXPXODWHLQWKH VWDWLVWLFDOUHJLVWHUV  One-V a riable Statistic s 7 R HQWHU [ GDWDIR URQ HYDULDEOHVWDWLVWLFVFRPS OHWHWKHIR OORZLQJVWHSV  &OHDUWKHVWD[...]

7: Statistical Calculation s 8 7 Correcting St atistic al Data ,QFRU UHFWHQWULHVFDQEHGHOHWHGX VLQJ ,IHLWKHUYDOXH RIDQ [  SD L U  LVLQFRU U HFWRXPXVWGHOHWHDQGUHHQWHUERWK YDOXHV  Correcting One-V a riable Data 7 R GHOHWHDQGUHHQ WHUVWDWLVWLFDOGDWD [...]

88 7: Statistical Calculations Mean, Standar d Dev iations, and Summation Statist ics < RX FDQ FDOFXODWH WKH P HDQ   VDPS OH VWDQ GDUG GHYLDWL RQ 6 DQGSRSXODWLRQ VWDQGDUGGHYLDWLRQ  σ  DQ G VXPPDWLRQ  VWDWLVWLFV  Q  Σ [  DQ G Σ [ R I  [ [...]

7: Statistical Calculation s 8 9 Example 1. $DFKWFDSWDLQZDQWVWRGHWHU P LQHKRZORQJLWWDNHVWR FKDQJHDVD LO6KHUDQGR POFKRRVHV VL[PHPE HUVRI KHUFUHZ RE VHU YHV WKHPDVWKHFDU U RXWWKHV DLOFKDQJHDQGUH FRUGVWKHQXPEHU VRI PLQXWHVUHTXLUH[...]

90 7: Statistical Calculations Linear Regression and Estimation /LQHDUUHJ UHVVLR QLV DVWDWLVWLFDO PHWKRG IRUHVWLPDWLRQDQG IRUHF DVWLQJ ,WLVXVHGWRILQGDVWUDLJK WOLQHWKDWEHV WILWVD VHW RI [  GDWD7 KHU HPXVWEHDWOHDVWWZRGLIIHUHQW [   SDL[...]

7: Statistical Calculation s 9 1 Linear Estimation. 7KHVWUDLJK WOLQHFDOFXODWHGEOLQHDUU HJU HVVLRQ FDQ EHXVHGWRHVWLPDWHD YDOXHIRUDJLY HQ [ Y DOXH  RU Y LFH Y HUVD  (QWHUWKH [  GDWDXVLQJWKHLQVWU XFWLRQVRQ SDJ H   (QWHUWKH[...]

92 7: Statistical Calculations (VWLPDWHZKDW WK H OHYHO RIVDOHVZ R XOG EH LI WKH EXVLQHVVSXUFKDVHG RU  PLQXWHVRIDGYHUWLVLQ J  +RZPDQPLQXWHVRI DGYHUWLVLQJV KRXOG$OL· VEXWRDWWDLQVDOHVR I " Keys: Display: Description: 0.00 &OHDU[...]

7: Statistical Calculation s 9 3 W eighted Mean 7KHI ROORZLQJSUR FHGXUHFDOFXODWHVWKHZHLJKWHGPHDQRI GDWDSRLQWV [  [ « [ RFFXU ULQJZLWK Z HLJKWV  «   8VH DQG WRHQWHU [  SDLUV  7KH Y DOXHVDUHWKHZHLJKWVR I?[...]

10B.book Page 94 Wednesday, June 21, 2000 5:19 PM[...]

8: Additional Examples 95 8 Addi tional Examples Business Applications Setti ng a Sale s Price 2QHPHWKRG IR U VHWWLQJ WK H SHU XQLW VDOHV  S ULFH LV WR GHWHU PLQH WKH FRVW RI SURGXFWLRQ SHUXQLWDQ GWKHQPXOWLSOEWKHGHVLUHGUDWHRI UHWXU Q)RU WKLVPHWKRG WR?[...]

96 8: Additional Exam ples Forecasting Based on Histor y 2QHPHWKR GRII RUHFDVWLQJVD OHV PDQXIDFWXULQJUD WHV RUH[SHQ VHVLV UHYLHZLQJKLVWRU LFDOWUHQGV 2QFHRXKDY HKLVWRULFDOGDWDWKHGDWDDUHILW WRDFXU YHWKDWKDVWLPH RQWKH [  D[LVDQGTXDQWLWRQ[...]

8: Additional Examples 97 Cost of Not T aking a Cash Discount $FDVKGLVFRXQWJLY HV DEXHUD UHGXFWLRQLQSULFHLIWKHSDPHQWLV PDGH ZLWKLQ D VS HFLILHG WLPH SHULRG ) R U H[DPSOH ´ 1(7µ PHDQV WKDW WKHEXHUFDQ GHGXFWSHUFHQWLI?[...]

98 8: Additional Exam ples Loans and Mor tgages Simple Ann ual Intere st Example . < RX U J RRG IULH QG QH HGV D ORDQ WR VW DUW KLV ODW HVW  HQWHUSU LVH  DQG KDVDVNHGRXWROHQGKLPIR UGDV < RXOHQ GKLPWKHP RQHDW VLPSOHDQ QXDO[...]

8: Additional Examples 99 Examp le . < RXFXU UHQ WOKDY HLQDQDFFRXQWDW'U HDP: RUOG ,QYHVWPHQWVWKDWHDU QVDQ QXDOLQWHUHVWFRPS RXQGHGFRQ WLQXRXVO  $WWKHHQG RIHDFKPRQWKRXG HSR VLW LQWKHDFFRXQW?[...]

100 8: Additional Exam ples Example . $QLQYHVWRUZLVKHVWRS XUFKDVHDPRU WJ DJ HWDNHQ RXWDWIRUHDU V 6LQFHWKHPRU WJ DJH ZDVLVVXHGPRQWK O SDPHQWVKDYHEHHQPDGH7KHOR DQLVWRE HSDLGLQIXOODE DOORRQ ?[...]

8: Additional Examples 101 Step 3 . (QWHUDFWXDOFXU UH QWY DOXHVIRU 1 DQG 39 WKHQILQ GWKHQHZ ,<5 IR UWKHGLVFR XQWHGPRU WJ DJHZLWKE DOORRQ  Ann ual P er cent a ge Rate f or a Loan Wi th Fees 7KHDQQXDO SHUFHQ WDJH UDWH $35  LQF RUS RUDWHV IHHV XVXDOO FK[...]

102 8: Additional Exam ples Example: Interest -Only Loa n With Fee. $ HDU DQQXDOLQWHUHV W LQWHU HVWRQO ORDQK DVDQRULJLQ DWLRQI HHRIWKUHHS RLQWV :KDWLVWKHLH OGWRWKHOHQGHU" $VVXPHWKDWPRQ WKOSDPHQ WV[...]

8: Additional Examples 103 Loan With a P artial (Odd) Fir st P e riod 790FDOFXODWLRQVDS SOWRI LQDQFLDOWUDQV DFWLRQV ZKHUHHDFKS DPHQW SHULRGLVWKHV DPHOHQJWK +RZHY HU VLWXDWLRQVH[LVWZK HUHWKHILUV W SDPHQWSHULRG LVQRW WKH VD PH OHQJWK DV WK H UHPDLQLQJSH[...]

104 8: Additional Exam ples A utom o bi le Lo a n Example . < RXDUHEXLQJDQ HZVHGDQ< RXUGRZQS DPHQW LVDQGRXDUHJ RLQJWR ILQDQFHWKH UHPDLQLQ J7K HFDU GHDOHULVRII HULQJWZRFKRLFHVIRU I[...]

8: Additional Examples 105 &DOFXODWHWKHVHFR QGRSWLRQ  7KHI LUVWRS WLRQFRVWVVOLJK WOOHVV  Canadian Mor tgag es ,Q&DQ DGLDQPRU WJ DJHVWKHFRPS RXQGLQJDQ GSDPHQWSHULR GVDUHQR W WKHVDPH,QWHUHVWLVFR PSR XQGHGVHPLDQ QXDOOZKLOHSDPHQWVDU H PDGHPRQW[...]

106 8: Additional Exam ples What if … TVM Calculations 2QHRI WKHPRV WY DOXDEOHDVS HFWVRIWKH+3 %,,· V790DSSOLFDWLR QLV WKHHDVHZLWKZKLFKLWKDQ GOHVWKHTXHVWLR Q´ZKDWLI«µLQI LQDQFLD O FDOFXODWLRQV) RU H[DPSOHRQH RIWKHPRV WSRS XODU´ZKD[...]

8: Additional Examples 107 Pa r t 2 . < RXUFRPS DQ· VUHJXODUSDUROOLVJ HQ HUDWHGHYHUR WKHU)ULGD  7KHEDQN DJUH HV W R DXWRPDWLFDOO GUDZ SDPHQWVRI  RXW RI HD FK SDFKHFNDSSUR[LPDWHOKDOIR IZKDWDPR QWKOSDPHQ WZ RXOGEH?[...]

108 8: Additional Exam ples Sa vings Sav ing f or College Costs 6XSSRVHRXVWDU WVDYLQJQ RZWRDFFRPPRGDWHDI XWXUHVHULHVR IFDVK  RXWI ORZV $QH[DPSOHRIWK LVLVVDYLQJPRQ HIRUFR OOHJH7 RGHWHU PLQ H KRZPXFKRXQHHGWRVDY HHDFKSHULRGRXPXVWNQRZZK[...]

8: Additional Examples 109 :KHQFRP SRXQ GLQJRFFXUVRQORQFHSHUHDUWKHHIIHFWLY HUDWHDQGWKH QRPLQD OUDWHDUHWKHV DPH 6HWWR%HJLQPR GH3UHVV LI BEGIN DQQXQFLDWRULVQ RWGLVSODHG 7KHQ XVHWKDW 39 DVWKH )9 RQ WKHIROORZLQJFDVK I ORZ?[...]

110 8: Additional Exam ples 6HWWR(QGPRGH3UHVV LI  BEGIN DQQXQFLD WRULVGLVSODHG Gains That Go Untaxed Until Withdra wal < RXFDQXVHWKH790 DSSOLFDWLRQWR FDOFXODWHWKHIXWXUHYDOXHRIDWD[ IUHHRUWD[ GHIHU UHGDFFR XQW&XU UHQ WWD[ODZVDQGRXU?[...]

8: Additional Examples 111 6HWWR%HJLQPR GH3UHVV LI BEGIN DQQXQFLDWRULVQ RWGLVSODHG Ke ys: Display: Description: 1.00 6HWVSDPHQ WSHU HDU  35.00 8.18 6WRUH VQ X PEHU RI SHULRGVDQ GLQWHUHVW UDWH 0.00 6WRU HVDPR XQWRX VWDU WZLWK –2,00 0. 00 6WRUHVDPR X[...]

112 8: Additional Exam ples V alue of a T axable Retirement Account 7KLV SUREOHP XVHVWKH790 DSSOLFDWLRQ WRFDOFXODWH WKHIXWXUHY DOXH RID WD[DEOHUHWLUHPH QWDFFRXQ WWKDWUHFHLY HVUHJXODUDQQXDOSDPHQWV EHJLQQLQ JWRGD%HJLQPR GH7 KHDQQXDOWD[RQWKHLQ WHUHV[...]

8: Additional Examples 113 Cash Flow Exampl es Wrap-Around Mortgages $ Z UDS DURXQG PRU WJ DJHLV D FRPELQ DWLRQRI UHI LQDQ FLQJ D PR U WJDJ H DQG ERU U RZLQJDJDLQV WUHDOHVWDWHHTXLW 8VXDOOWKHWZ RXQNQRZQTXDQ WLWLHV LQWKHZUDSS HGPRU WJ DJ HDUHWKHQ HZSDPHQWD[...]

114 8: Additional Exam ples 7KH QWRFDOFXODWHWKHOHQ GHU· VUHWXU QHQWHU FDVKI ORZVWKDW UH SUHV HQWWKH FRPSOHWH SLFWXUHRIWKH ZUDS DURXQGPRU WJD JHIUR PWKHOHQ GHU· V SRLQ WRI YLHZ :KHQRXJ U RXSWKHDERYHFDVKI ORZV RX·OOILQGWKDW &) ?[...]

8: Additional Examples 115 Net Future V alue 7KHQH WIXWXUHY DOXHFDQEHFDOFXODWHGEXVLQJWKH790N HVWR VOL GH WKH QHWSUHVHQ WYDOXH 139 IR UZDUGRQWKH FDVKI ORZGLDJ UDP Example: V alue of a Fund. < RXKDY HPDGH WKH I ROORZLQJ GHSR VLWV RY HU WKHSDV[...]

116 8: Additional Exam ples CF6 –2,0 00. 00 (QW HUV FDVK IORZ JURXS  8.80 6WRU HVDQQXDOLQWHU HVW UDWH –29,203. 14 &DOFXODWHVQHWSUH VHQW YDO X H   139  DXWRPDWLFDOOVWRU HGDV 39  24.0 0 6WRUHVNQ RZQY DOXHV  0.00 34,8 00. 58 &DOFXODWHVQHWIXWXUH YDO X H [...]

A: Assistance, Batteries, and Service 117 A Assistance , Batteries, and Ser vice +HZOHWW3DFNDUGLVFRPPLWWHGWRSURYLGLQJRXZLWKRQJ R LQJVXSSR U W < RXFDQREWDLQ DQVZHUVWRTXHV WLRQVDER XWXVLQJRXUFDOFXODWRUI URP RXU&DOFXODWRU6XSS RU WGHS DU WPHQW 3OHDVHUHDG´ $QVZ[...]

118 A: Assistance, Batteries, and Service Q: :KDWGRHVDQ´(µLQD QXPEHUIR UH[DPS OH (²PHDQ" A: ([SRQHQ WRIWHQIRU H[DPSOHï 5 HIHUWR´6FLHQ WLILF 1RWDWLRQµR QSDJ H  Q: :KGR,JHWDZURQJ DQVZHU?[...]

A: Assistance, Batteries, and Service 119 P ower and Bat teries 7KHFD OFXODWRULVS RZHUHGEWZ R YROWOLWKLXPEXWWRQFHOO EDW WH ULH V  :KHQFKDQ JLQJEDWWHULH V XVHRQOIU HVKEXWWRQ FHOOEDWWHULHV %RWKEDWWHULHV PXVWEHFKDQJ HGDWWKHVDPHWLPH 'RQRWXVH?[...]

120 A: Assistance, Batteries, and Service  5HPRY HERWKEDWWHU LHV   ,QVHU WWKH QHZEDWWHULHVPDNLQJVXUHWKDWWKHSR VLWLY HVLJQ RQHDFKEDWWHU LVIDFLQ JRXWZDUG  5HSODFHWKHEDWWHU FRP SDU WPHQWOLG  3UHVV  ,IWKHFDOFXODWRU GRHVQR W[...]

A: Assistance, Batteries, and Service 121 Determ ining if the Ca lculator Require s Ser vic e 8VHWKHVHJXLGHOLQ HVWRGHWHU P LQHLIWKH FDOFXODWRUUHTXLU HVVHU YLFH,I WKHVHSUR FHGXUHVFR QILU PWKDWWKHFDOFXODWR ULVQRWIXQ FWLRQLQ JSURSHU O  UHDGWKHVHFWLRQ ´,IWKH&DOFXO[...]

122 A: Assistance, Batteries, and Service The calculator r esponds to keystro kes but you suspect that it is malfunctioning:  ,WLVOLNHOWKDWRX·Y HPDGHDPLVWDNHLQRSHU DWLQJWKH FDOFXODWRU7 U UHU HDGLQJSRU WLRQ VRIWKHP DQXDODQG FKHFN´ $QVZHUVWR&R PPR Q4XHVWLRQ Vµ?[...]

A: Assistance, Batteries, and Service 123 6RPHVWDWHV SURYLQFHV  RU FRXQWULHVGR QR W DOORZ OLP LWDWLRQV RQ KRZ ORQJ DQLPSOLHGZDU UDQ WODVWV VRWKHDE RY HOLPLWDWLRQPDQRWDSS OWRRX ,QQRHYHQWVKDOO+HZOHWW 3DFNDUG&RPSDQEHOLDEOHIRU F[...]

124 A: Assistance, Batteries, and Service ,IORFDOVH U YLFHLVXQ DY DLODEOHRXFDQVKLSWKHFD OFXODWRUWRDQ  DXWKRUL]HG+3 VHU YLFHFHQWHUI RUUH SDLU $OOVKLSS LQJUHLPS RU WDWLRQDU UDQJ HPHQWVDQGFXVWRPVFR VWVDUH RXUUHVSR QVLE LOLW  Service Cha r ge 7KH UHLVD[...]

A: Assistance, Batteries, and Service 125 Service A greement s ,QWKH8 6 DVXS SRU WDJ UHHPHQ WLVDY DLODEOHIRU UH SDLUDQG VHU YLFH5 HIHUWRWKHIRU PLQWK HIURQ WRIWKHPDQXDO)RU DGGLWLRQDOLQIR U PDWLR QFRQ WDFWD+36HU YLFH&HQWHUVHH WKH L[...]

126 A: Assistance, Batteries, and Service Japan Disposal of W aste Equipment by User s in Private Household in the Euro pean Uni on This symbol on the product or on its pac kaging indicates that this pr oduct m ust not be disp osed of wit h you r other household w aste . Instead, it is yo ur responsibility to dispose of y our w aste equipm ent by h[...]

A: Assistance, Batteries, and Service 127 during the w arr anty period, HP will replace software media whic h does not execute its program ming instr uctions due to such defects . 3. HP does not wa r rant that the operatio n of HP products will b e uninterr upted or er ror free. If HP is unable , within a reasonable tim e, to re pai r or re plac e [...]

10B.book Page 128 Wednesday, J une 21, 2000 5:19 PM[...]

B: More Ab out Calcula tions 1 29 B More About Calculations IRR/YR Calcula tions 7KHFD OFXODWRUGHWHU P LQHV , 55<5 IRU DVHWRIFDVK I ORZVXVLQJ PDWKHPDWLFDOIR U PXODVWKDWVH DUFKIRU WKHDQVZHU 7K HSURFHVV  ILQGVDVROXWLR QEHVWLPDWLQJDQ DQVZHUDQGWKHQXV LQJ[...]

130 B: More About Calculations Case 5. 7KHF DOFXODWRUGLVS ODV No Solution 7 KHUHLVQ RDQVZHU  7K LVVLWXDWLRQP LJKWEHWKHUHVXOWR IDQHU URUVXFKDVDPLVWDNHLQ NHLQJLQWKHFDVK I ORZV $FR PPR QPLVWDNHWKDWUHVXOWVLQWKLV  PHVVDJ HLVS X[...]

B: More Ab out Calcula tions 1 31 Effect of Using Σ – to Correct Data 7KH+3 %,, VWRUHV WKH V WDWLVWLFDO QXPEHU V LQ DQ ´DFFXPXODWHGµ IDV KLRQ ,WGRHVQ·WVWRUHHYHUQXPEHU WKDWRXHQWHUEXWUDWKHULWSHUI RU P V LQWHU P HGLDWHFDOFXODWLRQVZKH QRXSUHVV WKH?[...]

132 B: More About Calculations Equations Margin and Markup Calculations  Time V alue of Mone y (TVM) 3D PHQW0RGH)DFWRU 6 IRU(QGP RGHIRU %HJLQPRGH Amor tization %$ / LVLQLWLDOO 39 UR XQGHGWRWKHFXU UHQ WGLVSODVHWWLQJ  307 LVLQLWLDOO 307 URXQGHGWR[...]

B: More Ab out Calcula tions 1 33 ) RUHDFKSDPHQWDP RU WL]HG Interest Rate Con versions ,17 %$ / ï L  ,17 LVURXQGHGWRWKHFXU UHQWGLVS ODVHWWLQJ ,17· IRUSHULR GLQ%HJLQPRGH ,17 ,17   ZLWKVLJQRI  307  351 307  ,17 %$ / %$ [...]

134 B: More About Calculations Cash-Flo w Calcula tions :KHQ 139  W KHVROXWLRQ IRU  L LVWKHS HULRGLFLQ WHUQD OUDWHRI UHWXU Q L SHULRGLFLQ WHUHVWUDWH M WKHJ URXS QXPEHURIWK HFDVKI ORZ  &) DPRXQWR IWKHFDVK IORZIR UJ UR XS M  Q QXPEHUR[...]

B: More Ab out Calcula tions 1 35 Stati stics     [ [ ∑ Q ------- = y y ∑ Q ------ - = [ [ ∑ ∑ --------- - = Sx [ ∑ [ ∑ () 2 Q --------- ----- – Q  – ----------- -------- ----------- - = Sy y ∑ y ∑ () 2 Q ---------- --- - – Q  – ----------- -------- ---------- - = σ x [ ∑ [ ∑ () 2 Q ----[...]

.fm Page 136 Thursday, June 22, 2000 12:33 PM[...]

C: Messages 137 C Messages 3UHVV R U W RFOHDUDPH VVDJHI URPWK HGLVSOD  All Clea r 0HPRU KDVE HHQHUDVHGSDJ H  COPR HP 2000 &RSULJK WPHVVDJ H Interrupted $Q ,55<5  ,<5 RUDPR U WL]DWLRQFDOFXODWLRQ ZDVLQWHU U XSWHGE SUHVVLQ J  No[...]

138 C: Messages running 5XQQLQJ$FDOFXODWLRQLVLQSU RFHVV UFLO 8QGHUI ORZ$QLQWHU PHGLDWHUHV XOWLQ790LVWRR VPDOOIRUWK H+3 %,,WRSUR FHVV7KLVPHVV DJHLVDOVR EULHI OGLVS ODHGLIDQFDOFXODWLRQ XQGHUI ORZV ,QWKLVFDVHLWLV[...]

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140 Index  BEGIN  ,  %HJLQP RGH  %RUUR ZLQJHTXLW  %XRXWYDOXH  C   &DQDGL DQPRU WJDJ HV  &DSLWDOL]HGYDOXH  &DVKI ORZ  ,  GLDJUD PV  GLVF RX QW  HQW HU LQ J  HTX DWLRQV  H[DP SOH V  LQLWLDO  SUREOH[...]

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142 Index 139  DWDJODQ FH  D XWR PD WLF V WRU DJ HR I  FDOFXODWLQJ  1XPEH UV GLVS OD IRUP DW  IXOO SUHFLV LRQ  QHJD WLYH  UDQJH RI  URXQGL QJ  VWR ULQ J  O 2GGILUVWSDPHQW    2QHYDU LDEOHVWDWLVWLFV  2SHUDWL QJ FRQGL WL RQV [...]

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10B.book Page 144 Wednesday, J une 21, 2000 5:19 PM[...]