HP 10BII Simple and Compound Interest The time value of money application Simple and compound interest Practice solving simple and compound interest problems...
The time value of money application The time value of money application built into the HP 10BII is used to solve compound interest problems and annuities that involve regular, uniform payments. Compound interest problems require the input of 3 of these 4 values: ABCE.
Compound interest problems can be directly solved using the time value of money application. The nominal annual interest rate is entered and the HP 10BII automatically uses the value for the number of periods per year to compute the interest rate per period. Simple interest problems are solved as basic arithmetic problems.
Rearrange I = PRT so that P is isolated: P = I / R / T. Note that since T will equal 2/12 in this example, it should be enclosed in parentheses as shown below. 26.25/0.035/Us2/12Ut= Answer: $4,500. hp calculators - 4 - HP 10BII Simple and Compound Interest - Version 1.0...