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Victor V12 Owner's Manual

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Owners Guide
V12 Financial Calculator

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  • Page 1 Owners Guide V12 Financial Calculator...
  • Page 2 V I C T O R T E C H N O L O G Y Preface Congratulations on your purchase of the V12 financial calculator from Victor Technology. Victor has been serving customers since 1918. Today, Victor offers a complete line of printing, handheld, desktop, scientific, and financial calculators.
  • Page 3: Table Of Contents

    Table of Contents Chapter 1: Where to Start ... 6 Powering On and Off ... 6 Controlling screen contrast ... 6 Keyboard Dynamics... 6 Entering Digits ... 6 Decimal Placement ... 6 Entering Large Amounts ... 7 Entering Small Amounts ... 7 Changing the Sign of a Number...
  • Page 4 Determining Payment Amount: Solving for PMT 17 Determining Future Value: Solving for FV ... 18 Determining Number of Periods: Solving for n.. 19 Loan With Balloon Payment... 19 Amortization Function ... 20 Chapter 3: Other Financial Calculations... 22 NPV (Net Present Value) ... 22 Grouped Cash Flows ...
  • Page 5 Power Features in RPN method ... 49 Chapter 5: The Basics of Programming ... 50 Creating Your Own Program... 50 Executing Your Own Program ... 53 Program Memory Basics... 54 Determining Program Line Instructions... 54 Program line 000 and the GTO 000 instruction:... 56 Performing a Program One Line at a Time ...
  • Page 6: Chapter 1: Where To Start

    V12 off, touch and hold the decimal point button . , and touch the ON button. Repeat this process again to reset these placements to...
  • Page 7: Entering Large Amounts

    Entering Large Amounts The V12 displays numbers up to 10 digits. Scientific notation allows numbers longer than 10 digits to be entered. To perform this function, enter the number with the decimal point moved to the left. Keep track of how many positions the decimal point moved.
  • Page 8: Using The Clear Function

    Using the Clear Function Clearing replaces the displayed value with zero and replaces the previous instruction with the r GTO 000 instruction when programming. There are many ways of clearing data, outlined here: BUTTONS Storage registers, block and last x register, .b CLEAR REG and display screen .b CLEAR FIN...
  • Page 9: Rpn Method

    V I C T O R T E C H N O L O G Y RPN method To select the RPN method, touch b RPN , and the RPN icon appears. With RPN method enabled, you can perform basic calculations with two numbers and with multiplication, addition, division, or subtraction.
  • Page 10 V I C T O R T E C H N O L O G Y To delete stored values, enter zero, touch STO , and select the register to be deleted, R0 through R9, and R .. 0 through R .. 9. (Note: Designating a new value instead of 0 also replaces the old value set to the register)
  • Page 11: Chapter 2: The First Steps To Financial Functions11

    Chapter 2: The First Steps to Financial Functions Using the Financial Storage Registers Five specialty registers are used for financial calculations only. These are n , i , PV , PMT , and FV and are located along the top row of buttons. Saving data to these storage registers makes it possible to calculate financial problems such as loan payments.
  • Page 12 Example Calculate the simple interest on a 100,000 amount with 12% annual interest for 180 days using the 360 day cycle and the 365 day cycle. ENTRIES -100,000.00 100000 CHS PV Displays the amount. 180.00 Displays the number of days for which interest will be calculated 12.00 Displays the annual interest rate...
  • Page 13 9.68 b INT Displays the simple interest on a 360 day basis 909.68 x ↔ y = Displays the simple interest plus principal due on a 360 day basis ENTRIES (RPN) -900.00 900 CHS Displays the amount. 90.00 Displays the number of days for which interest will be calculated 4.30 Displays the annual interest rate...
  • Page 14: Basic Financial Calculations

    The final cash value received or paid or the future value of a series of payments assuming an interest rate. When using the V12, four of these five variables must be known to perform a calculation. The unknown variable can then be solved. Positive and Negative Cash Flows When performing financial calculations special care must be taken to enter values with the proper sign.
  • Page 15: The Special Relationship Between I. And N

    To select payment type: Touch r END if the payment will be made at the end of the period. Touch r BEG if the payment will be made at the beginning of the period. Most transactions utilize an End of the period payment. Note: This manual will only show examples using End of the period payments.
  • Page 16: Determining Present Value: Solving For Pv

    If interest rate was compounded monthly, n would be 8% ÷ 12 =0.006 Since many financial calculations utilize an annual interest rate compounded monthly, the V12 has two functions to simplify the entry of interest rate and periods. The r 12÷...
  • Page 17: Determining Payment Amount: Solving For Pmt

    -2,398.20 2398.202 CHS PMT Displays the monthly payment ------------ The V12 is calculating the value. 400,000.00 Displays the loan amount or present value. Actual amount may vary slightly due to rounding Determining Payment Amount: Solving for PMT Touch b...
  • Page 18: Determining Future Value: Solving For Fv

    0.50 Displays the interest rate of 6% per year or 0.5% per month. 400.000.00 400000 PV Displays the loan amount or present value. -2,398.20 Displays the monthly payment Determining Future Value: Solving for FV Touch b CLEAR FIN to reset financial registers Use n or r 12x to enter number of periods or payments Use i or r 12÷...
  • Page 19: Determining Number Of Periods: Solving For N

    Determining Number of Periods: Solving for To determine the number of compounding periods and the number of payments: Touch b CLEAR FIN to reset financial registers Use i or r 12÷ to enter periodic interest rate. Enter values for PV(present value), PMT (amount of payment), FV (future value) Select payment function by touching r BEG or Touch n to calculate number of periods or payments...
  • Page 20: Amortization Function

    Such payments must be sufficient to cover both principal and interest. With the Amortization Function the V12 can calculate the total amount of principle (liability) and interest paid after a specified number of installments.
  • Page 21 In other words, after you calculate the interest and principle paid after one year, the V12 resets the present value of the loan to the principle after one year. Calculation of Amortization will start from this point.
  • Page 22: Chapter 3: Other Financial Calculations

    372,217.58 RCL PV Displays the remaining principle after 60 months of payments 60.00 Displays the number of payments amortized (60 months) -22,152.81 Displays the amount of interest paid in the next 12 12 b AMORT months of payments (after the initial 60 months already amortized) -6,625.59 Displays the amount of principle paid in the next 12...
  • Page 23: Grouped Cash Flows

    stored in R . If used again in the same cash flow problem, the contents of the x-register are stored in first R , then R Example You want to buy a yacht for $23,000 and rent it to a skipper for a share of tour revenue.
  • Page 24 when some of the cash flows are repetitive and consecutive. In these situations, the Nj key is invoked by entering the number of repeat cash flows followed by .r Nj . For example, if a cash flow of $1000 occurs 5 times in a row, the entries would be 5000 CHS r CFj 5 r Nj .
  • Page 25: Replacing Current Cash Flow Value Data

    Since the number is positive, this is an investment that exceeds the desired rate of return. Replacing Current Cash Flow Value Data Individual cash flow values stored in the V12 can be replaced. To replace a current cash flow value: Enter the amount...
  • Page 26: Determining Values With Depreciation

    Example Starting from the previous example, the landlord now believes the tenant will rent for 6 years instead of 4 at $110,000 per year (an additional 2 years). ENTRIES (RPN) 4.00 Displays the number of unique cash flows entered. (This number will be required later) 3.00 Displays the storage of 3 in the n register (because it is the 3...
  • Page 27 Touch b SOYD for sum of years number option No matter which depreciation method is used the remaining depreciated value may be displayed by touching x ↔ y . Example Your company purchases a car for $3,500, which depreciates over 6 years. The salvage value is expected to be $900.
  • Page 28: Determining Bond Values

    Determining Bond Values To calculate bond price and the interest accrued since its last interest date, as well as its yield to maturity, use b PRICE and .b Use these methods to calculate bond price and yield for 30/360 day bonds (municipal bonds, corporate bonds, and bonds with annual coupon payments.
  • Page 29 ENTRIES 91.42 PV 4.9 PMT 9.172009 ENTER 11.022017 To Calculate Bond Price and Yield for 30/360 Day Basis Bonds with a semiannual coupon, please reference V12 programming guide at www.VictorV12.com 9.17 Enters purchase date 89.14 Enters maturity date and calculates bond price (as a % of Par) 90.98...
  • Page 30: Percentages

    To Calculate Price and Yield for Bonds with Annual Coupons, please reference V12 programming guide at www.VictorV12.com. Percentages There are three buttons used for solving problems involving percents: Delta Percentage Δ% ,Percentage % and Percent of Total %T. Delta percentage calculates the percent difference between numbers using the first number as a base.
  • Page 31 Example In ALG method, calculate 35% of $1,200: ENTRIES (ALG) 00.00 Clears the display and x register 1200 1200 Displays the base number 0.35 X 35 Displays the percent multiple 420.00 Displays the result To find the percentage % of a value in RPN method: Enter the base value Touch ENTER Enter the percentage...
  • Page 32: Calendar Operations

    Displays the result: 50 is 25% less than 200 Calendar Operations The V12 stores dates using two methods. The first is called Month-Day-Year and is set by touching r. M.DY. To enter a date in Month-Day-Year format: Enter the two digits of the month (01 to 12)
  • Page 33: Determining Number Of Days Between Dates

    Example Invoke the Day-Month-Year mode and enter the date January 5, 2001. ENTRIES 5.01 05.012001 r D.MY Stores the date To calculate a date in the future or past: Enter the start date and touch r D.MY Enter number of days to be added or subtracted from the start date If subtracting days, don’t forget to use CHS Touch r DATE...
  • Page 34 actual amount of days between dates or by the 30-day month date function. You can calculate the amount of days each way. ENTRIES M.DY Puts the calculator in Month-Day-Year mode 1.15 01.152008 ENTER Stores the date January 15, 2008 1,440.00 Stores the date December 25, 2011 and 12.252011 r ∆DYS displays the days between dates.
  • Page 35: Chapter 4: Other Operational Features

    Chapter 4: Other Operational Features Another function of the V12 calculator is continuous memory of storage registers (financial. LSTx, block, and data), and information on the current status of the current function (display format, payment mode, and date format). Continuous memory is in effect even while the unit is off, and for a short amount of time while the batteries are out, to allow for battery replacement without losing data.
  • Page 36 5.77 Displays the figure with two digits to the right of the decimal point The decimal place setting is kept until continuous memory is reset. Turning the unit off and on does not change the decimal place setting. Scientific Notation Display Settings With Scientific notation, the first non-zero digit of a value is moved the immediate left of the decimal point and all other digits are moved to the right.
  • Page 37: Full Figure Display

    Full Figure Display To view all ten digits of a figure without decimal points touch and hold down prefix as long as you wish to view the numbers. Example Convert 567.89 to scientific notation and then view the full figure with no decimal points.
  • Page 38: Lst X

    If an entered value is less than 10 equations. Running Display Some programs and functions need an extended amount of time to complete. During these times --------- will appear in the display. LST X To recall a value entered before an operation was executed, the LST X button is appropriate (RPN method only).
  • Page 39: Statistical Features And Functions

    x ↔ y x ↔ y is the exchange key (RPN method only). It switches the values in the x-register to the y-register and the value in the y-register to the x-register. Example You wish to calculate 2,520 ÷ 30 but you mistakenly enter 30 first and 2520 second which would give you the wrong answer.
  • Page 40: Recovering Incorrectly Entered Statistical Data

    Sum of the square of the x values: ∑x Sum of the y values: ∑y Sum of the square of the y values: ∑y Sum of the multiplication of x and y: ∑xy Clearing the statistical registers before entering new data is necessary. Do this by touching ∑+ (also resets block registers and the display screen).
  • Page 41: Standard Deviation Entries

    ∑ - Touch r Enter new (correct) x and/or y values ∑+ Touch r Standard Deviation Entries The button sequence r s will calculate the standard deviation (a measure of the dispersion around the mean of the X and Y values) for both X and Y values. Mean Values The r x button sequence calculates the mean of the X and Y values.
  • Page 42: Linear Estimates For X And Y

    ENTRIES 48.00 48 ENTER Displays the first y value. 1.00 85 ∑+ Displays which entry has just been entered … the first data pair. 51.00 51 ENTER Displays the second y value. 2.00 76 ∑+ Displays which entry has just been entered … the second data pair.
  • Page 43: Weighted Mean Values

    Enter the new y value Touch r x, r The correlation coefficient, r, can be calculated by touching the x↔y key after calculating the estimate. Example Using the children’s height (y) and weight (x) values from above, estimate the height (y) of a child weighing 64 pounds (x) and determine the correlation coefficient.
  • Page 44: Mathematical Features And Functions

    • Third month: 50 bricks at $0.52 a brick • Fourth month: 100 bricks at $0.61 a brick • Fifth month: 250 bricks at $0.49 a brick Find the weighted mean cost of the bricks. ENTRIES 48.00 ∑- Displays the first x value. 1.00 .68 ENTER 150 ∑+ Displays which entry has just been entered …...
  • Page 45 Touching r FRAC displays the fractional part of the value (all digits to the left of the decimal point are replaced by a 0.) The use of r FRAC also changes the number inside the x register. In RPN method, the original number can be viewed again in the display screen by touching r LSTx .
  • Page 46 To round a number in the display screen to a specified number of decimal places, set the display format to show the exact number of decimal places desired. Each time a calculator function is performed, the value displayed will be rounded automatically. However, the value before rounding is actually stored in the register.
  • Page 47 ENTRIES DISPLAY 20.09 3 r e Displays the exponential value of 3. Logarithm Values When r LN is touched, the natural logarithm (logarithm to the base of e) is calculated. Subsequently touching 10 r LN in ALG method calculates the common logarithm (logarithm to the base of 10 of the number on the display screen).
  • Page 48 Example ENTRIES DISPLAY 81.00 Displays the square of 9. Reciprocal Values When 1/x is touched, the number on the display screen is divided into 1 (giving the reciprocal value). Example ENTRIES DISPLAY 0.20 5 1/x Displays the reciprocal of 5.
  • Page 49: Power Features In Alg Method

    Power Features in ALG method , the power of a value, may be calculated in ALG method as follows: Enter the y value Touch y Enter the x value (exponent value) Touch = to calculate number, the power of the value Example ENTRIES (ALG) DISPLAY...
  • Page 50: Chapter 5: The Basics Of Programming

    Chapter 5: The Basics of Programming Programs are a sequence of button entries that are stored into the calculator. Calculations involving the same sequence of button entries are common, and saving them in a program can save time. Creating Your Own Program To create a program, just write it and store it.
  • Page 51 105.00 Displays the 30% off price plus $10. Displays the shipping and handling fee 115.00 Displays the 30% off price plus $10. In ALG method: ENTRIES (ALG) Displays the regular price of $150 item 150.00 Prepares for number for further activity 45.00 Computes the 30% discount.
  • Page 52 PRGM Clears the program memory To create a program, use the same buttons you used to solve for net cost manually. What is shown on the display screen in the next step will be further explained later. In RPN method: ENTRIES (RPN) ENTER 001,...
  • Page 53: Executing Your Own Program

    006, 007, 007, Executing Your Own Program Touch b P/R to put calculator back in run function. Enter all required input into the calculator the same as if you were calculating manually. (When a program is executed, the data already entered onto the display and into the registers inside the unit are used.) Touch R/S to begin executing the program.
  • Page 54: Program Memory Basics

    Program Memory Basics Program Memory stores a sequence of entries in calculator memory for re-use at a later time. A program line is specific number, function key, or decimal point. For example the ENTER button is a program line. Program lines that start with b , r , RCL, STO, or GTO buttons have two entries because the entry is incomplete without describing what comes after the first button.
  • Page 55 Row 1 Row 2 Row 3 Row 4 Row, 3 = 33 The illustration shows the button for the instruction in program line 001 is in the third row of the keyboard and is the third button within that row, the R↓ When the instruction ÷...
  • Page 56: Program Line 000 And The Gto 000 Instruction

    xxx, 42 15 Displays the program line number, the position of the b IRR first key touched (42) and the position of the second key touched (15) Program line 000 and the GTO 000 instruction: The GTO 000 instruction tells the calculator to go to and execute program line 000.
  • Page 57 To ensure your program runs correctly, use the SST button while in RUN mode to move to the next line in the program and display its key code and line number. In RUN mode, releasing the SST button executes the program line instruction that was just displayed, and then displays the result of the execution of that line.
  • Page 58 001, SST (Hold) Displays the first program line 200.00 Executes the first program line 002, SST (Hold) Displays the second program line Executes the second program line 003, SST (Hold) Displays the third program line Executes the third program line 004, SST (Hold) Displays the fourth program line...
  • Page 59: Setting The Calculator To A Specific Program Line

    Setting the Calculator to a Specific Program Line Storing a second program or adjusting an existing program sometimes requires you to go to a specific line of programming. There are three alternative approaches: 1. Use the SST button to cycle through the program lines. 2.
  • Page 60 002, Decimal point 003, .9 = 90% or 10% off 004, Multiply by 90% 005, 43 31 Pause 006, 45 0 Recall the original entry 007, Decimal point 008, .8 = 80% or 20% off 009, Multiply by 80% To run the program, exit the program mode, press b price, and press R/S.
  • Page 61: Stopping A Program During Execution

    Stopping a Program During Execution Touching R/S during program execution automatically stops execution. To resume running the program from where it was stopped, touch R/S again. A stop can be inserted into a program just like any other function or key. Example Create a program that calculates the sale price of an item at both 10% off and 20% off.
  • Page 62 008, .8 = 80% or 20% off 009, Multiply by 80% To run the program, exit the program mode, press b price, and press R/S. ENTRIES (RPN) DISPLAY Puts the calculator in Run method Displays the regular price of $200 180.00 Displays the 10% off price 160.00...
  • Page 63: Chapter 6: Branch & Loop Programs

    Chapter 6: Branch & Loop Programs Program instructions typically execute sequentially through program line numbers, but it is possible to transfer or ‘branch’ to a program line that is not the next line of program memory. Using the GTO instruction in a program will transfer an execution to any program line by using the designated three digit code of that line within the GTO command.
  • Page 64 Continue program execution sequentially to the next line of program memory (if the tested condition was true when executed.) Skip instruction in the next line of programming and continue with the following line (if the tested condition was false.) Example Create a program that determines the amount owed on a credit card after making $100 payments each month.
  • Page 65 008, 44 0 STO 0 Store the value in register 0 009, 43 31 Pause 010, 43 31 Pause 011, 43 31 Pause 012, 43 31 Pause 013, Digit 0 is the 13th program line 014, ENTER Digit 0 is entered into the x register 015, 45 0 RCL 0 The value in register 0 is recalled into the x register and...
  • Page 66: Storing More Than One Program

    300.00 Displays the initial debt of $300 203.00 Executes the program and displays the amount owed after 1 month of interest at 1% and a $100 payment. 105.03 After a pause, displays the amount owed after the 2 month 6.08 After a pause, displays the amount owed after the next month -93.86...
  • Page 67: Chapter 7: Editing Your Programs

    Chapter 7: Editing Your Programs To change a single instruction in program memory, the following steps are followed: Touch b P/R to enter PROGRAM mode Touch SST , BST or GTO . buttons to find the program line directly before the specific program line that contains the instruction you wish to change.
  • Page 68: Inserting Instructions Into A Program

    Inserting Instructions Into a Program To insert new instructions into a program, a branch must be created because the V12 does not have a mechanism to insert new program lines between existing program lines. Branching will allow you to go to a new instruction added at the end of the program, then branch back and continue with the next program line after the branch.
  • Page 69 line is reserved for the GTO 000 instruction. Therefore if the program ends on the 008 line, start the branch at line 010. Note: The replaced program line in the original program must be replicated at the end of the new branch. Note: The last program line in your new branch must loop back to the original program directly after the point where you wanted to insert the additional instructions.
  • Page 70: Inserting Instructions At The End Of A Program

    Program is now stored 0.00 b P/R Sets calculator to run mode 0.00 b P/R Sets calculator to program mode 004, GTO . 004 Go to and display the fourth program line. As a result, the next key strokes will be recorded on line 005. 005,43,33,010 GTO 010 Replaces and displays the contents of line 005...
  • Page 71 V I C T O R T E C H N O L O G Y Touch b P/R to enter PROGRAM mode. Touch r GTO . and the three-digit line number of the last line in the program. Enter new instructions.
  • Page 72: Chapter 8: Error Messages

    Chapter 8: Error Messages Certain operational procedures prohibit the V12 from completing calculations causing an error message to appear on the display screen, along with a number 0-9 that corresponds with the particular error condition. These errors are summarized below: ERROR The operation included a zero value that prevented calculation.
  • Page 73 Victor Technology V12 Calculator Limited Warranty Thank you for purchasing a product from Victor Technology. This product has been electronically tested. If you have problems using this product, please carefully refer to the instruction manual. This product, except the battery, is warranted by Victor to the original purchaser to be free from defects in material and workmanship under normal use for a period of two years from the date of purchase.