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HP 12C User Manual

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hp 12c platinum financial calculator
user's guide
H
Edition 4
HP part number F2232-90001
File name: hp 12c pt_user's guide_English_HDPMF123E27
Printed Date: 2005/8/1
Page: 1 of 275
Dimension: 14.8 cm x 21 cm

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Table of Contents

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   Summary of Contents for HP 12C

  • Page 1 12c platinum financial calculator user's guide Edition 4 HP part number F2232-90001 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 1 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 2 Hewlett-Packard Company, except as allowed under the copyright laws. Hewlett-Packard Company 4995 Murphy Canyon Rd, Suite 301 San Diego, CA 92123 Printing History Edition 4 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 INCIDENTAL CONSEQUENTIAL WITH FURNISHING, THIS MANUAL...
  • Page 3: Introduction

    About This Handbook This hp 12c platinum user's guide is intended to help you get the most out of your investment in your hp 12c platinum Programmable Financial Calculator. Although the excitement of acquiring this powerful financial tool may prompt you to set this handbook aside and immediately begin “pressing buttons,”...
  • Page 4: Financial Calculations In The United Kingdom

    For More Solutions to Financial Problems In addition to the specialized solutions found in Sections 12 through 16 of this handbook, many more are available in the optional hp 12c platinum Solutions Handbook. Included are solutions to problems in lending, forecasting, pricing, statistics, savings, investment analysis, personal finance, securities, Canadian mortgages, learning curves in manufacturing, options pricing, and queuing theory.
  • Page 5: Table Of Contents

    Net Amount in RPN Mode ...33 Net Amount in ALG Mode ...33 Percent Difference ...34 Percent of Total in RPN Mode...35 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Contents Page: 5 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 6 Bond Price ... 82 Bond Yield ... 83 Depreciation Calculations ... 84 Section 5: Additional Operating Features ...86 Continuous Memory... 86 The Display... 87 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 6 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 7: Contents

    Interrupting Program Execution...117 Pausing During Program Execution ...117 Stopping Program Execution ...122 Section 9: Branching and Looping ...125 Simple Branching ...125 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Contents Page: 7 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 8 Solving for Payment... 202 Solving for Yield ... 206 Advance Payments With Residual ... 209 Solving for Payment... 209 Solving for Yield ... 212 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 8 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 9: Contents

    The Power Function ... 242 Appendix C: More About L... 243 Appendix D: Error Conditions ... 245 Error 0: Mathematics ...245 Error 1: Storage Register Overflow ...246 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Key...229 Key ...230 Key ...234 ) ...238...
  • Page 10 Standard Deviation ...257 Factorial ...257 The Rent or Buy Decision ... 258 Appendix F: Battery, Warranty, and Service Information 259 Battery ...259 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 10 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 11 Mortgages ... 267 Annual Percentage Rate (APR) Calculations...268 Bond Calculations ...268 Function Key Index...269 Programming Key Index ...272 Subject Index ...274 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Contents Page: 11 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 12 To begin, turn the calculator on by pressing the ; key. Then, press the keys shown in the Keystrokes column below. If you are not familiar with the use of an hp calculator keyboard, refer to the description on pages 16 and 17.
  • Page 13 Note: A battery symbol ( when the calculator is on signifies that the available battery power is nearly exhausted. To install new batteries, refer to Appendix F. The calendar functions and nearly all of the financial functions take some time to produce an answer. (This is typically just a few seconds, but the¼, !, L, and S functions could require a half-minute or more.) During...
  • Page 14 5.13 This is only a small sampling of the many financial calculations that can now be done easily with your hp 12c platinum. To begin learning about this powerful financial tool, just turn the page. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Value of policy in 14 years.
  • Page 15: Part I: Problem Solving

    Problem Solving File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Part I Page: 15 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 16: Getting Started

    + or -. The Keyboard Many keys on the hp 12c platinum perform two or even three functions. The primary function of a key is indicated by the characters printed in white on the upper face of the key. The alternate function(s) of a key are indicated by the characters printed in gold above the key and the characters printed in blue on the lower face of the key.
  • Page 17: Keying In Numbers

    (executing an alternate function of that key), another prefix key, or fCLEARX. Keying in Numbers To key a number into the calculator, press the digit keys in sequence, just as if you were writing the number on paper. A decimal point must be keyed in (using the decimal point key) if it is part of the number unless it appears to the right of the last digit.
  • Page 18: Keying In Large Numbers

    Display (RPN mode) 12345gÚgÚ 123.63 .63\ 128.63 gÚ 0.00 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 1,781,400,000,000 entered in scientific notation. Correcting removes the 4 and 5. gÚ clears the most recent digit entered. Clears the calculator line.
  • Page 19: The Clear Keys

    Clearing a register or the display replaces the number in it with zero. Clearing program memory replaces the instructions there with gi000. There are several clearing operations on the hp 12c platinum, as shown in the table below: Key(s) Display and X-register.
  • Page 20: Undo Operation

    When the Undo indicator is turned off no operation can be undone. The RPN and ALG Keys The calculator can be set to perform arithmetic operations in either RPN (Reverse Polish Notation) or ALG (Algebraic) mode. In Reverse Polish Notation (RPN) mode, the intermediate results of calculations are stored automatically, hence you do not have to use parentheses.
  • Page 21: Simple Arithmetic Calculations In Rpn Mode

    In RPN mode, any simple arithmetic calculation involves two numbers and an operation — addition, subtraction, multiplication, or division. To do such a calculation on your hp 12c platinum, you first tell the calculator the two numbers, then tell the calculator the operation to be performed. The answer is calculated when the operation key (+,-,§, or z) is pressed.
  • Page 22: Simple Arithmetic Calculations In Alg Mode

    In ALG mode, any simple arithmetic calculation involves two numbers and an operation — addition, subtraction, multiplication, or division. To do such a calculation on your hp 12c platinum, you tell the calculator the first number, then the operation to be performed, and then tell the calculator the second number. The answer is calculated when the equals key (}) is pressed.
  • Page 23: Chain Calculations In Rpn Mode

    The hp 12c platinum is designed so that each time you press a function key in RPN mode, the calculator performs the operation then — not later — so that you see the results of all intermediate calculations, as well as the “bottom line.”...
  • Page 24 10.14- 1,064.54 1053+ The preceding example demonstrates how the hp 12c platinum calculates just as you would using pencil and paper (except a lot faster!): Let’s see this happening in a different type of calculation — one that involves multiplying groups of two numbers and then adding the results. (This is the type of calculation that would be required to total up an invoice consisting of several items with different quantities and different prices.)
  • Page 25 5 and the 6 in step 2, the calculator was holding two numbers (12 and 5) inside for you, in addition to the 6 in the display. (The hp 12c platinum can hold a total of three numbers inside, in addition to the number in the display.) After step 2, the calculator was still holding the 12 inside for you, in addition to the 30 in the display.
  • Page 26: Chain Calculations In Alg Mode

    Keying 8 ÷ 5 – 1 will calculate 8 ÷ 5 first and then the result (1.6) will have 1 subtracted from it (resulting in 0.6), which is not what is intended. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 you can enter either: −...
  • Page 27: Storage Registers

    ³ Storage Registers Numbers (data) in the hp 12c platinum are stored in memories called “storage registers” or simply “registers.” (The singular term “ memory” is sometimes used in this handbook to refer to the entire collection of storage registers.) Four special registers are used for storing numbers during calculations (these “stack registers”...
  • Page 28 500.00 1,250.00 §6 500.00 ³ 8,000.00 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Stores the cost of the computer in R Stores the cost of the printer in R Turns the calculator off. Turns the calculator back on.
  • Page 29: Clearing Storage Registers

    Suppose you wanted to perform an arithmetic operation with the number in the display and the number in a storage register, then store the result back into the same register without altering the number in the display. The hp 12c platinum enables you to do all this in a single operation: 1.
  • Page 30 13.7?-0 10.14 10.14?-0 1,053.00 1053?+0 1,064.54 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Subtracts the first check from the balance in R . Note that the display continues to show the amount subtracted; the answer is placed only in R Subtracts the second check.
  • Page 31: Percentage And Calendar Functions

    Percentage and Calendar Percentage Functions The hp 12c platinum includes three keys for solving percentage problems: b, à, and Z. You don’t need to convert percentages to their decimal equivalents; this is done automatically when you press any of these keys. Thus, 4% need not be changed to 0.04;...
  • Page 32: Section 2: Percentage And Calendar Functions

    200, press: 200 § 25 b}. (Result is 50.) This is the last time the initial OO will be shown in these Note: examples. Don’t forget to clear the calculator in ALG mode before beginning a new calculation. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Clears any pending operations.
  • Page 33: Net Amount In Rpn Mode

    A net amount — that is, the base amount plus or minus the percentage amount — can be calculated easily with your hp 12c platinum, since the calculator holds the base amount inside after you calculate a percentage amount. To calculate a net amount, simply calculate the percentage amount, then press = or -.
  • Page 34: Percent Difference

    Examples of markup and margin calculations are included in the hp 12c platinum Solutions Handbook. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Amount of discount.
  • Page 35: Percent Of Total In Rpn Mode

    2.36+ 1.67+ 2.36 In RPN mode, the hp 12c platinum holds the total amount inside after a percent of total is calculated. Therefore, to calculate what percentage another amount is of the total: 1. Clear the display by pressing O.
  • Page 36: Percent Of Total In Alg Mode

    7.95 1.67} 2.36 2.36 29.69 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Keys in the total amount and separates it from the next number. Keys in 2.36 to find what % it is of the number in the display.
  • Page 37: Calendar Functions

    2.36 Calendar Functions The calendar functions provided by the hp 12c platinum — gD and gÒ — can handle dates from October 15, 1582 through November 25, 4046. These calendar functions work the same in both RPN and ALG modes.
  • Page 38: Future Or Past Dates

    If D.MY is not lit, the date format is set to month-day-year. The date format remains set to what you last specified until you change it; it is not reset each time the calculator is turned on. However, if Continuous Memory is reset, the date format is set to month-day-year.
  • Page 39 Keystrokes gÔ 14.052004\ 120gD When gD is executed as an instruction in a running program, the calculator pauses for about 1 second to display the result, then resumes program execution. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 2: Percentage and Calendar Functions Display 7.04...
  • Page 40: Number Of Days Between Dates

    (the extra days occurring in leap years), if any. In addition, the hp 12c platinum also calculates the number of days between the two dates on the basis of a 30-day month. This answer is held inside the calculator; to display it, press ~.
  • Page 41: Basic Financial Functions

    Basic Financial Functions The Financial Registers In addition to the data storage registers discussed on page 27, the hp 12c platinum has five special registers in which numbers are stored for financial calculations. These registers are designated n, i, PV, PMT, and FV. The first five...
  • Page 42: Clearing The Financial Registers

    Continuous Memory is reset (as described on page 86). Simple Interest Calculations The hp 12c platinum simultaneously calculates simple interest on both a 360-day basis and a 365-day basis. You can display either one, as described below. Furthermore, with the accrued interest in the display, you can calculate the total amount (principal plus accrued interest) by pressing + in RPN mode or +~} in ALG mode.
  • Page 43 In ALG mode, perform the steps in the RPN listing above, except replace the last step with the step below. Keystrokes (ALG mode) File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display 60.00 Stores the number of days.
  • Page 44: Financial Calculations And The Cash Flow Diagram

    The concepts and examples presented in this section are representative of a wide range of financial calculations. If your specific problem does not appear to be illustrated in the pages that follow, don’t assume that the calculator is not capable of solving it. Every financial calculation involves certain basic elements; but the terminology used to refer to these elements typically differs among the various segments of the business and financial communities.
  • Page 45 In the problem illustrated in the cash flow diagram above, n = 2 × 12. The form in which n is entered determines whether or not the calculator performs financial calculations in Odd-Period mode (as described on pages 63 through 67).
  • Page 46: The Cash Flow Sign Convention

    The Cash Flow Sign Convention When entering the PV, PMT, and FV cash flows, the quantities must be keyed into the calculator with the proper sign, + (plus) or – (minus), in accordance with … The Cash Flow Sign Convention: is entered or displayed as a positive value (+).
  • Page 47: Generalized Cash Flow Diagrams

    End. The payment mode remains set to what you last specified until you change it; it is not reset each time the calculator is turned on. However, if Continuous Memory is reset, the payment mode will be set to End.
  • Page 48 Section 3: Basic Financial Functions File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 48 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 49: Compound Interest Calculations

    5 × 12 = 60 and i would be 6% ÷ 12 = 0.5%. If you use the calculator to multiply the number of years by the number of compounding periods per year, pressing n then stores the result into n. The same is true for i.
  • Page 50 –325.00 325ÞP g –325.00 The calculator will round n down to the next lower integer if the fractional portion of n is less than 0.005. † After calculating n, pressing ¼,$,P, or M will recalculate the value in the corresponding financial register.
  • Page 51 (ALG mode) z12} Because the calculator rounds the calculated value of n up to the next higher integer, in the preceding example it is likely that — while 328 payments will be required to pay off the loan — only 327 full payments of $325 will be required, the next and final payment being less than $325.
  • Page 52 Instead of having a fractional (or balloon) payment at the end of the loan, you might wish to make 327 or 328 equal payments. Refer to “Calculating the Payment Amount” on page 58 for a complete description of this procedure. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Recalls payment amount.
  • Page 53 4000M g Keystrokes (ALG mode) fCLEARG 6.25z24¼ 775Þ$ 50ÞP 4000M File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display 0.26 Calculates and stores i. –775.00 Stores PV (with minus sign for cash paid out).
  • Page 54 FV, as we did using the second method following Example 1. However, this balance would not include the interest accrued during the 58th month. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Sets the payment mode to End.
  • Page 55: Calculating The Periodic And Annual Interest Rates

    8 years on an investment of $6,000 with quarterly compounding ? Keystrokes (RPN mode) fCLEARG 8\4§w 6000Þ$ 10000M File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display Calculates final, fractional, 58 –22.73 deposit required to reach $4,000.
  • Page 56: Calculating The Present Value

    Future value, using M. 5. If a PMT was entered, press g× or g to set the payment mode. 6. Press $ to calculate the present value. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Periodic (quarterly) interest rate.
  • Page 57 In ALG mode, press the keys listed for RPN mode but replace the last step above with the step below. Keystrokes (ALG mode) +1500} File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display 48.00 Calculates and stores n.
  • Page 58: Calculating The Payment Amount

    3. Enter the periodic interest rate, using ¼ or gC. 4. Enter either or both of the following: Present value, using $. Future value, using M. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Stores n. Stores i. Stores PMT. Unlike in the previous problem, here PMT is positive since it represents cash received.
  • Page 59 You open the account with a deposit of $3,200 and intend to make semiannual deposits, beginning six months later, from your profit-sharing bonus paychecks. Calculate how much these deposits should be. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display 348.00...
  • Page 60: Calculating The Future Value

    Payment amount, using P. 5. If a PMT was entered, press g× or g to set the payment mode. 6. Press M to calculate the future value. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Calculates and stores n.
  • Page 61 Example 2: If you deposit $50 a month (at the beginning of each month) into a new account that pays 6.25% annual interest compounded monthly, how much will you have in the account after 2 years ? File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display 60.00...
  • Page 62 6.00 –2.00 2Þ¼ 32000Þ $ –32,000.00 28,346.96 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Calculates and stores n. Calculates and stores i. Stores PMT (with minus sign for cash paid out). Sets payment mode to Begin. Balance after 2 years.
  • Page 63: Odd-period Calculations

    “odd first period”. For simplicity, in using the hp 12c platinum we will always regard the first period as equal to the remaining periods, and we will refer to the period between the date interest begins accruing and the beginning of the first payment period as simply the “odd period”...
  • Page 64 After calculating i, PV, PMT, or FV in Odd-Period mode, you should not try to calculate n. If you do, the calculator will switch out of Odd-Period mode and compute n without taking the odd period into account. The values in the other financial registers will correspond to the new n, but the original assumptions for the problem will be changed.
  • Page 65 3.012004 gÒ 36+n 4500$ Keystrokes (ALG mode) ?Æ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display Clears financial registers. Sets date format to month-day-year. Sets payment mode to End. Turns on the C indicator in the display, so that compound interest will be used for the odd period.
  • Page 66 7.192004\ 8.012004 8.012004 gÒ 13.00 0.43 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Keys in the date interest begins accruing and separates it from the next date entered. Keys in the date of the beginning of the first period.
  • Page 67 8.012004 gÒ z30+ 3950$ 120ÞP ¼ §12} File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display 42.43 Adds the fractional part of n to the number of complete payment periods, then stores the result in n.
  • Page 68 Before leaving this Odd-Period mode example, you may now press ?Æ to turn the C annunciator off, if needed. Note that when the calculator is not in Odd-Period mode, the status of the C annunciator actually has no effect on calculator operation.
  • Page 69: Amortization

    This rounding affects the number inside the calculator as well as how the number appears in the display. The amounts calculated on your hp 12c platinum may differ from those on the statements of lending institutions by a few cents, since different rounding techniques are sometimes used.
  • Page 70 Thus, if you now press 12f!, your hp 12c platinum will calculate the amounts applied to interest and to the principal from the second year’s payments (that is, the second 12 months):...
  • Page 71 Since the interest rate is not being changed, do not press fCLEARG; to calculate PMT, just enter the new value for n, reset PV, then press P. Keystrokes 30gA 250000$ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 3: Basic Financial Functions Display –1,093.75 Portion of first payment applied to interest.
  • Page 72: Additional Financial Functions

    Functions Discounted Cash Flow Analysis: NPV and IRR The hp 12c platinum provides functions for the two most widely-used methods of discounted cash flow analysis: fl (net present value) and fL (internal rate of return). These functions enable you to analyze financial problems involving cash flows (money paid out or received) occurring at regular intervals.
  • Page 73: Section 4: Additional Financial Functions

    When entering cash flow amounts — including the initial investment — remember to observe the cash flow sign convention by pressing Þ after keying in a negative cash flow. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 4: Additional Financial Functions ) can be solved.
  • Page 74 0 gK. 4. Repeat step 3 for each cash flow until all have been entered. With the amounts of the cash flows stored in the calculator’s registers, you can calculate NPV as follows: 1. Enter the interest rate, using ¼ or gC.
  • Page 75 — remember to observe the cash flow sign convention by pressing Þ after keying in the amount for a negative cash flow. If you have stored a program in the calculator, the number of registers available for storing cash flow amounts may be less than 81.
  • Page 76 With the amounts of the cash flows and the number of times they occur consecutively stored in the calculator, NPV can be calculated by entering the interest rate and pressing fl, just as described earlier. Example: An investor has an opportunity to purchase a piece of property for $79,000;...
  • Page 77 4500gK 100000gK 13.5¼ Since NPV is positive, the investment would increase the financial value of the investor’s assets by $907.77. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 4: Additional Financial Functions Display 0.00 Clears financial and storage registers.
  • Page 78: Calculating Internal Rate Of Return (irr)

    Example: The NPV calculated in the preceding example was positive, indicating that the actual rate of return (that is, the IRR) was greater than the 13.5 used in the calculation. Find the IRR. Assuming the cash flows are still stored in the calculator, we need only press Keystrokes Display 13.72...
  • Page 79: Reviewing Cash Flow Entries

    For example, to display the fifth cash flow amount and the number of times that amount occurs consecutively: Keystrokes File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 4: Additional Financial Functions for a CF —...
  • Page 80: Changing Cash Flow Entries

    1. Store the number of that cash flow amount (that is, j) in the n register. 2. Key the number of times the cash flow amount occurs consecutively into the display. 3. Press ga. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Resets the number in the n register to its original value.
  • Page 81 (not including the amount of the initial investment ). If this is not done, NPV and IRR calculations will give incorrect results. Example 1: With the cash flows now stored in the calculator, change CF $11,000 to $9,000, then calculate the new NPV for a 13.5% return.
  • Page 82: Bond Calculations

    Section 4: Additional Financial Functions Bond Calculations The hp 12c platinum enables you to solve for bond price (and the interest accrued since the last interest date) and the yield to maturity. calculations are done assuming a semiannual coupon payment and using an actual/actual basis (such as for U.S.
  • Page 83: Bond Yield

    File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 4: Additional Financial Functions Display 123.07...
  • Page 84: Depreciation Calculations

    Section 4: Additional Financial Functions Depreciation Calculations The hp 12c platinum enables you to calculate depreciation and the remaining depreciable value (book value minus salvage value) using the straight-line, sum-of-the-years-digits, and declining-balance methods. To do so with any of these methods: 1.
  • Page 85 Section 13. That section also includes a procedure for depreciation calculations when changing from the declining-balance method to the straight-line method, and a procedure for calculating excess depreciation. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 4: Additional Financial Functions Display 3,100.00...
  • Page 86: Additional Operating Features

    LAST X registers, program memory, and status information such as display format, date format, and payment mode. All information in Continuous Memory is preserved even while the calculator is turned off. Furthermore, information in Continuous Memory is preserved for a short time when the batteries are removed, so that you can change the batteries without losing your data and programs.
  • Page 87: Section 5: Additional Operating Features

    Keystrokes (ALG mode) 19.8745632- Although you see only two decimal places, all calculations in your hp 12c platinum are performed with full 10-digit numbers. When only two decimal places are displayed, numbers are rounded to two decimal places: if the third digit is 5 through 9, the second digit is increased by one;...
  • Page 88: Scientific Notation Display Format

    The standard display format, plus the specified number of decimal places, remain in effect until you change them; they are not reset each time the calculator is turned on. However, if Continuous Memory is reset, when the calculator is next turned on numbers will be displayed in the standard display format with two decimal places shown.
  • Page 89 10 digits — the full mantissa — of the number inside the calculator. To do so, press fCLEARX and hold down the X key. The display will show all 10 digits of the number as long as you hold down the X key;...
  • Page 90: Special Displays

    Errors. If you attempt an improper operation — such as division by zero — the calculator will display the word Error followed by a digit (0 through 9). To clear the Error display, press any key. This does not execute that key’s function, but does restore the calculator to its condition before the improper operation was attempted.
  • Page 91: The Key In Rpn Mode

    Before pressing the operation key or equals key, however, you should press ~ again to return the second number entered to the display. Regardless of how many times you press ~, the calculator considers the number in the display to be the second number entered.
  • Page 92: Recovering From Errors In Digit Entry

    9987 42.96 9,987.00 429,000.00 429000\ 434.65 987z File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 You haven’t noticed your mistake yet. About 43 products per outlet — but that seems too low! Recalls to the display the number that was there before you press z.
  • Page 93: Statistics Functions

    Statistics Functions Accumulating Statistics The hp 12c platinum can perform one- or two-variable statistical calculations. The data is entered into the calculator using the _ key, which automatically calculates and stores statistics of the data into storage registers R registers are therefore referred to as the “statistics registers.”) Before beginning to accumulate statistics for a new set of data, you should clear the statistics registers by pressing fCLEAR².
  • Page 94: Correcting Accumulated Statistics

    How many hours does the average salesperson work each week ? How much does the average salesperson sell each month ? File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Statistic...
  • Page 95 To find the average workweek and sales of this sample: Keystrokes fCLEAR² 17000_ 25000_ 26000_ 20000_ 21000_ 28000_ 15000_ gÖ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 6: Statistics Functions Hours/Week Sales/Month $17,000 $25,000 $26,000 $20,000 $21,000 $28,000...
  • Page 96: Standard Deviation

    Display 4,820.59 6.03 The formulas used in the hp 12c platinum for calculating s estimates of the population standard deviation based on a sample of the population. Thus, current statistical convention calls them sample standard deviations. So we have assumed that the seven salespersons are a sample of the population of all salespersons, and our formulas derive best estimates of the population from the sample.
  • Page 97: Linear Estimation

    For instance, while the standard deviation of the values 1,999,999; 2,000,000 and 2,000,001 is 1; the standard deviation returned by the hp 12c platinum is 0 due to the effect of roundoff. This will not happen, however, if you normalize the data by keying only the difference between each value and the mean or approximate mean of the values.
  • Page 98 (ALG mode) 15.55 0.001 1gR~d-~} The equation that describes the regression line is: File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 The correlation coefficient is close to 1, so the sales calculated in the preceding example is a good estimate.
  • Page 99: Weighted Mean

    1.18\17_ g A procedure for calculating the standard deviation and standard error (as well as the mean) of weighted or grouped data is included in the hp 12c platinum Solutions Handbook. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1...
  • Page 100: Mathematics And Number-alteration Functions

    Mathematics and Number-Alteration Functions The hp 12c platinum provides several keys for mathematical functions and for altering numbers. These functions are useful for specialized financial calculations as well as for general mathematics calculations. One-Number Functions Most of the mathematics functions require that only one number be in the calculator (that is, the number in the display) before the function key is pressed.
  • Page 101 — that is, it replaces each digit to the right of the decimal point by 0. The number is changed inside the calculator as well as in the display. In RPN mode, the original number can be recalled to the display by pressing gF.
  • Page 102: The Power Function In Rpn Mode

    Keystrokes To Calculate (ALG mode) 2q1.4} –1.4 2q1.4Þ} (–2) 2Þq3} or 2 2q3y} File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 . Like the arithmetic Display 2.64 0.38 –8.00 1.26 , in ALG mode, do the following: Display 2.64 0.38...
  • Page 103: Part Ii: Programming

    Programming File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Part II Page: 103 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 104: Programming Basics

    Programming Basics Why Use Programs? A program is simply a sequence of keystrokes that is stored in the calculator. Whenever you have to calculate with the same sequence of keystrokes several times, you can save a great deal of time by incorporating these keystrokes in a program.
  • Page 105 First, we’ll manually calculate the net cost of an item listing for $200. Keystrokes (RPN mode) Keystrokes (ALG mode) Next, set the calculator to Program mode and erase any program(s) already stored: Keystrokes fCLEARÎ Finally, press the keys that we used above to solve the problem manually. Do not key in 200;...
  • Page 106: Running A Program

    Running a Program To run (sometimes called “execute”) a program: 1. Press fs to set the calculator back to Run mode. If the calculator is already in Run mode (that is, the PRGM status indicator in the display is not lit), skip this step.
  • Page 107 Before you can understand these aspects of programming, we need to briefly discuss how keystrokes are treated by the calculator when they are stored in Program mode and when they are executed in Run mode.
  • Page 108: Program Memory

    000, since no regular instruction is stored there. Identifying Instructions in Program Lines Each key on the hp 12c platinum keyboard — except for the digit keys 0 through 9 — is identified by a two-digit “keycode” that corresponds to the key’s position on the keyboard.
  • Page 109: Displaying Program Lines

    Occasionally you’ll want to check several or all of the instructions stored in program memory. The hp 12c platinum enables you to review program instructions either forward or backward through program memory: Pressing Ê (single step) while the calculator is in Program mode advances the calculator to the next line in program memory, then displays that line number and the keycode of the instruction stored there.
  • Page 110 Keystrokes Display (ALG mode) gÜ 001, gÜ 000, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Sets calculator to Program mode and displays current line of program memory Program line 001: \ Program line 002: digit 2. Sets calculator to Program...
  • Page 111 If either the Ê key or the Ü key is held down, the calculator displays all of the lines in program memory. Press Ê again now, but this time hold it down until program line 007 is displayed. Keystrokes (RPN mode) Ê...
  • Page 112: The 000 Instruction And Program Line 000

    008 after executing the seven instructions you keyed in. This i000 instruction — as its name implies — tells the calculator to “go to” program line 000 and execute the instruction in that line. Although line 000 does not contain a regular instruction, it does contain a “hidden”...
  • Page 113 As in many business and financial decisions, there is a trade off involved; here it is between program lines and data storage registers. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 8: Programming Basics Page: 113 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 114: Setting The Calculator To A Particular Program Line

    — such as when you’re storing a second program in program memory or when you’re modifying an existing program. Although you can set the calculator to any line by using Ç as described above, you can do so more quickly as follows: With the calculator in Program mode, pressing gi.
  • Page 115 (RPN mode) Ç Ç Ç Ç Ç Ç Ç File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 8: Programming Basics Display 124.25 Sets calculator to Run mode and to line 000 in program memory. (Display shown assumes results remain from previous calculation.)
  • Page 116 007, 473.75 Pressing gÜ while the calculator is in Run mode sets the calculator to the previous line in program memory, then displays that line’s number and the keycode of the instruction stored there, just as in Program mode. In Run mode, however, when the Ü...
  • Page 117: Interrupting Program Execution

    Interrupting Program Execution Occasionally you’ll want a program to stop executing so that you can see an intermediate result or enter new data. The hp 12c platinum provides two functions for doing so: gu (pause) and t (run/stop). Pausing During Program Execution When a running program executes a gu instruction, program execution halts for about 1 second, then resumes.
  • Page 118 6.75 6.75?0 fCLEAR² 0.00 13.00 68.5 68.5 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Stores tax rate in R Clears the registers in R through R Keys in quantity of item. Separates quantity of item from cost of item to be keyed in next.
  • Page 119 Keystrokes (RPN mode) § Keystrokes (ALG mode) 6.75?0 fCLEAR² § 68.5 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 8: Programming Basics Display 890.50 AMOUNT. 890.50 Adds AMOUNT to sum of AMOUNT entries in register R 6.75 Recalls tax rate to display.
  • Page 120 005, 44 40 006, 007, 008, 009, 010, 44 40 011, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Sets calculator to Program mode. Clears program memory. Pauses to display AMOUNT. Pauses to display TAX. Sets calculator to Program mode.
  • Page 121 Keystrokes fCLEAR² 6.75?0 13\68.5 18\72.9 24\85 5\345 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 8: Programming Basics Display 012, 44 40 Display 950.61 Sets calculator to Run mode. 0.00 Clears registers R –...
  • Page 122: Stopping Program Execution

    008, 009,44 40 Keystrokes Display (ALG mode) fCLEARÎ 000, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Sum of TAX column. Sum of TOTAL column. Sets calculator to Program mode. Clears program memory. Stops program execution to display AMOUNT.
  • Page 123 Now, to run the program, first set the appropriate mode by pressing f] or f[ and then do the following: Keystrokes fCLEAR² 13\68.5 18\72.9 24\85 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 8: Programming Basics Display 001, 002, 003,...
  • Page 124 After stopping program execution manually, you can determine at which program line execution has halted and/or resume program execution as described above. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 TAX for third item.
  • Page 125: Branching And Looping

    Backward branching is typically done to create loops (as described next); forward branching is typically done in conjunction with a go or gm instruction for conditional branching (as described afterward). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 9 Page: 125 of 275...
  • Page 126: Looping

    Display fCLEARÎ 000, 001, 002, More precisely, the number in the X-register. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Sets calculator to Program mode. Clears program memory Stores the number from the display into register R . This number will be the number of payments to be amortized.
  • Page 127 Keystrokes gi002 fCLEARG 30gA 4.75gC 150000$ gÂ Ê Ê Ê File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 9: Branching and Looping Display 003, Amortizes payment(s). 004, Pauses to display amount of payment(s) applied to interest. 005, Brings amount of payment(s) applied to principal into “display.”*...
  • Page 128 –189.47 Ê 006, –189.47 Ê 007,43, 33, 002 –189.47 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Portion of first month’s payment applied to interest. Line 004: gu. Line 005: ~. Portion of first month’s payment applied to principal.
  • Page 129: Conditional Branching

    The hp 12c platinum provides two conditional test instructions that are used in programs for conditional branching: go tests whether the number in the X-register (represented by the x in the key symbol) is less than or equal to the number in the Y-register (represented by the y in the key symbol).
  • Page 130 (which shows an RPN mode program, although it works in a similar way in ALG mode.). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 130 of 275...
  • Page 131 ~ instruction were not included, the test value 20,000, rather than the income, would be in the Y-register when the b instruction in line 008 is executed. Keystrokes (RPN mode) fCLEARÎ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 9: Branching and Looping Display 007,43, 33, 002 Sets calculator to Program mode.
  • Page 132 Display (ALG mode) 007,43, 33, 002 fCLEARÎ 000, 001, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Tests whether number in X-register (income) is less than or equal to number in Y-register (20,000). If condition is true, branches to program line 007.
  • Page 133 Keystrokes (RPN mode) 20000?0 20?1 25?2 15000 Ê File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 9: Branching and Looping Display 002, Recalls test value into X-register and places income in Y-register. 003, Places income in X-register and test value in Y-register.
  • Page 134 20,000.00 Ê 002, 20,000.00 Ê 003, 20,000.00 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Test value has been recalled to X-register, moving income to Y-register. Line 002: ~ Income has been placed in X-register and test value has been placed in Y-register.
  • Page 135 Ê 25000 Ê Ê Ê Ê Ê Ê File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 9: Branching and Looping Display 004,43, 33, 007 Condition tested by o was true, so program execution continued with line 004: gi007.
  • Page 136 010, 0.20 Ê 011, 3,000.00 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Stores test value in register R Stores 20% tax rate in register R Stores 25% tax rate in register R Keys income less than test value into display and X-register.
  • Page 137 Ê Ê Ê Ê Ê Ê Ê Ê Ê File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 9: Branching and Looping Display 012,43,33,000 Line 012: gi000. 3,000.00 20,000. Keys income equal to test value into display and X-register.
  • Page 138 25.00 Ê 010, 0.25 Ê 011, 6,250.00 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Keys income greater than test value into display and X-register. Line 001: ?9. Stores income into register R Line 002: :0. Test value has been recalled to X-register, moving income to Y-register.
  • Page 139: Program Editing

    To change a single instruction in program memory: 1. Press fs to set the calculator to Program mode. 2. Use Ç, Ü, or i. to set the calculator to the program line preceding the line containing the instruction to be changed.
  • Page 140: Adding Instructions At The End Of A Program

    (that is, the highest numbered line, not necessarily the line most recently keyed in). 3. Key in the new instruction or instructions. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Shows that instruction in program line 006 has not been changed.
  • Page 141 Example: With the last program from the preceding section stored in the calculator, suppose you wanted to calculate the net income after taxes. In the RPN program, you could add a - instruction at the end in order to calculate the net income after taxes.
  • Page 142: Adding Instructions Within A Program

    1. Press fs to set the calculator to Program mode. 2. Press gi. followed by three digits that specify the last program line to be executed before the added instruction(s). This sets the calculator to the proper program line for adding the new instruction(s) in the next step.
  • Page 143 Keystrokes (RPN mode) gi.008 15000t Keystrokes (ALG mode) gi.011 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 10: Program Editing Display Sets calculator to Program mode. 008, Sets calculator to last program line to be executed, which contains the b instruction.
  • Page 144: Adding Instructions By Branching

    — usually, the last program line to be executed before the added instruction(s). This sets the calculator to the proper program line for inserting a i instruction in the next step. This i instruction will replace whatever...
  • Page 145 Keystrokes (RPN mode) gi.000 gi012 gi.010 gi000 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 10: Program Editing and adding the following instructions between lines Display Sets calculator to Program mode. 000,...
  • Page 146 15000t 12,000.00 Keystrokes Display (ALG mode) gi.000 000, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Added instructions. Keys in instruction immediately following point at which new instructions are being added. (This instruction was replaced in line 001 by gi012 instruction.)
  • Page 147 (ALG mode) gi018 gi.016 gi000 gi000 gi002 7500?3 6500t 15000t File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 10: Program Editing Display 001,43, 33, 018 Branches to program line 018, the second line after last line of program. 016,...
  • Page 148 While the actual program in ALG mode is different, the illustration does indicate the method used. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 148 of 275...
  • Page 149: Multiple Programs

    You can run programs after the first one stored in program memory by setting the calculator to the first line of the program using i before pressing t.
  • Page 150 Display (ALG mode) gi.023 023,43, 33, 002 gi000 024,43, 33, 000 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Sets calculator to Program mode. Sets calculator to last line keyed into program memory. Ensures that second program is separated from first by i000.
  • Page 151 034. In the ALG program, since the :0 instruction is now in line 035, we’ll specify that line number with the i instruction in line 041. Keystrokes (RPN mode) gi.027 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 11: Multiple Programs Display 025,...
  • Page 152 034, 035, 036, 037, 038, 039, gi035 040,43, 33, 035 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Keys in program Sets calculator to Program mode. Sets calculator to last line keyed into program memory. Keys in program Page: 152 of 275...
  • Page 153: Running Another Program

    Running Another Program To run a program that does not begin with program line 001: 1. Press fs to set the calculator to Run mode. If the calculator is already in Run mode, skip this step. 2. Press gi followed by three digits that specify the first line of the program.
  • Page 155: Part Iii: Solutions

    File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Part III Solutions Page: 155 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 156: Real Estate And Lending

    (:$); key in the fee (percentage) rate, press b-; key in the fee amount (flat charge); press -$. Positive for cash received; negative for cash paid out. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12 Page: 156 of 275...
  • Page 157 5.5gC 5.5gC 160000$ 160000$ :$2b- :$-2b ¼ ¼ 12§ §12³ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12: Real Estate and Lending Display 360.00 Months (into n) 0.46 % monthly interest rate (into i). 160,000.00 Loan amount (into PV).
  • Page 158 30gA 30gA 5.5gC 5.5gC 160000$ 160000$ :$2b- :$-2b -750$ 750-$ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 360.00 Months (into n) 0.46 Percent monthly interest rate (into i). 160,000.00 Loan amount (into PV). –908.46 Monthly payment (calculated).
  • Page 159: Price Of A Mortgage Traded At A Discount Or Premium

    Keystrokes Keystrokes (RPN mode) (ALG mode) g g fCLEARG Positive for cash received; negative for cash paid out. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12: Real Estate and Lending Display 0.48 Monthly interest rate (calculated). 5.73 Annual percentage rate.
  • Page 160 Note that the payments are positive because this problem is in seen from the viewpoint of the lender who will be receiving payments. The negative PV indicates money that was lent out. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 0.75...
  • Page 161: Yield Of A Mortgage Traded At A Discount Or Premium

    21gA 21gA 300000Þ$ 300000Þ$ Positive for cash received; negative for cash paid out. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12: Real Estate and Lending (If there is no balloon Display Enter the number of periods (into n).
  • Page 162 Keystrokes Keystrokes (RPN mode) (ALG mode) g g fCLEARG fCLEARG 21gA 21gA 300000Þ$ 300000Þ$ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 2,096.57 Payment received (calculated). 252.00 Recall number of periods. 210.00 Number of periods left after mortgage is bought (into n).
  • Page 163: The Rent Or Buy Decision

    The Net Cash Proceeds upon Resale (NCPR = sales price – commission – mortgage balance), is the pre-tax proceeds. The program assumes that the buyer reinvests in like property and is not subject to capital gains tax. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12: Real Estate and Lending Display 60.00...
  • Page 164 015, 016, 017, 018, 019, 020, 021, * FV is repeated in the program twice to ensure that it is computed and not stored. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 000, fCLEARÎ 001,...
  • Page 165 033, 034, 035, 036, 037, 038, 039, 040,45 48 041, 042, 043, 044, 045, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12: Real Estate and Lending KEYSTROKES DISPLAY (ALG mode) 022, 023, 024, Þ 025, 026, 027,...
  • Page 166 058, n: Period i: Apprec. FV: Used : Period : i(Mtg) : Taxes/Mo : % Comm. : Rent : Market V. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 046, 047, 048, 049, 050, Þ...
  • Page 167 † If the calculator displays a negative result or Error 5 when solving for yield then your investment has resulted in a loss. The amount of interest earned on the alternative investment is not taken into account in this calculation.
  • Page 168 165?5 3700?6 3700?6 900?8 900?8 30?.0 30?.0 fCLEARG fCLEARG 5¼ 5¼ 270000$ 270000$ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 0.00 7,000.00 Down payment. 30.00 Life of mortgage. 6.00 Interest rate. 300.00 Property taxes. 165.00 Monthly expenses.
  • Page 169: Deferred Annuities

    “step-up” lease. A “step-down” lease is similar, except that rental payments are decreased periodically according to the lease contract. Lease payments are made at the beginning of the period. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 12: Real Estate and Lending Display 8.57...
  • Page 170 500gJ 500gJ 600gK 600gK 12ga 12ga 750gK 750gK 13.5gC 13.5gC File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 0.00 Initialize. 500.00 First cash flow. 500.00 Second through sixth cash flows. 5.00 600.00 Next twelve cash flows.
  • Page 171: Investment Analysis

    — the amounts of depreciation in the first and last years are computed as fractions of a full year’s depreciation. Straight-Line Depreciation The following hp 12c platinum program calculates the straight-line depreciation for the year desired with the acquisition date occurring at any time during the year. KEYSTROKES (RPN mode) fCLEARÎ...
  • Page 172 025,43, 33, 035 gi035 026, 027, 028, 029, 030, 031, 032,44 40 033,44 40 034,43,33, 026 gi026 035, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 012, 013, § 014, 015, ³ 016, 017, 018,...
  • Page 173 3. Key in the book value then press $. 4. Key in the salvage value then press M. 5. Key in the life in years (an integer) then press n. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis...
  • Page 174 1st, 2nd, 25th, and 26th years. What is the total depreciation after 3 years ? The display will pause showing the year number before showing the amount of depreciation for that year. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 The display Page: 174 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 175 ~:$:3 :3-~³ gi000 gi000 fCLEARG fCLEARG 125000$ 125000$ 25³ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis Display Salvage value = 0 so FV = 0; set to 0 by CLEARG. 125,000.00 Book value. 25.00 Life.
  • Page 176: Declining-balance Depreciation

    6730$ 6730$ 1³ 4.5t 4.5t Declining-Balance Depreciation The following hp 12c platinum program calculates the declining-balance depreciation for the year desired with the acquisition date occurring at any time during the year. KEYSTROKES DISPLAY (RPN mode) fCLEARÎ 000,...
  • Page 177 022, 023, 024, 025, 026, 027, 028,44 40 029,44 40 gi022 030,43,33, 022 031, 032, 033, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis KEYSTROKES DISPLAY (ALG mode) ³ 010, 011, 012, 013, § 014, 015, ³...
  • Page 178 4. Key in the salvage value then press M. 5. Key in the declining-balance factor as a percentage then press ¼. 6. Key in the life in years (an integer) then press n. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES...
  • Page 179 Refer to straight-line depreciation instruction note, page 174. † The display will pause showing the year number before showing the amount of depreciation for that year. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis and press t.
  • Page 180: Sum-of-the-years-digits Depreciation

    180 Section 13: Investment Analysis Keystrokes Keystrokes (RPN mode) (ALG mode) Sum-of-the-Years-Digits Depreciation The following hp 12c platinum program calculates the sum-of-the-years-digits depreciation for the year desired with the acquisition date occurring at any time during the year. KEYSTROKES DISPLAY (RPN mode) fCLEARÎ...
  • Page 181 032,44 40 033,44 40 gi026 034,43,33, 026 035, 036, 037, 038, 039, 040, 041,43,33, 030 gi030 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis KEYSTROKES DISPLAY (ALG mode) 018, 019, 020, 021, 022, 023, 024,...
  • Page 182 3. Key in the book value then press $. 4. Key in the salvage value then press M. 5. Key in the life in years (an integer) then press n. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES...
  • Page 183 Refer to straight-line depreciation instruction note, page 174. † The display will pause showing the year number before showing the amount of depreciation for that year. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis then press t.
  • Page 184: Full- And Partial-year Depreciation With Crossover

    When calculating declining-balance depreciation it is often advantageous for tax purposes to switch from declining balance to straight-line depreciation at some point. This hp 12c platinum program calculates the optimum crossover point and automatically switches to straight-line depreciation at the appropriate time. The crossover point is the end of the year in which the declining-balance depreciation last exceeds or equals the amount of straight-line depreciation.
  • Page 185 018, 019, 020, 021, 022, 023, 024, 025, 026, 027, 028, 029, 030, 031, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis KEYSTROKES DISPLAY (ALG mode) 008, ³ 009, 010, 011, 012, 013, 014, 015,44 30...
  • Page 186 044, 045, 046, 047, 048, 049, 050, 051,43,33, 053 gi053 052,43,33, 065 gi065 053, 054, 055, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 032, 033, 034, 035, gi043 036,43,33, 043 037, 038, 039, 040,...
  • Page 187 070,44 30 071,44 40 072, 073,44 30 074, 075, 076,44 40 077, 078,44 30 079,44 40 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis KEYSTROKES DISPLAY (ALG mode) gi058 056,43,33, 058 gi070 057,43,33, 070 058,...
  • Page 188 085,43,33, 074 086, 087, 088, 089, 090, 091, 092, 093, 094,43,33, 074 gi074 095,43,33, 058 gi058 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 080, 081,44 40 082, 083,44 30 084,44 40 085,44 40 086, 087,...
  • Page 189 Refer to straight-line depreciation note page 174. † The display will pause with the year number before displaying the amount of depreciation for that year. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis REGISTERS i: Factor PV: Dep.
  • Page 190 (RPN mode) (ALG mode) 500M 500M 200¼ 200¼ 1³ By observation the crossover was year 6. Years 7, 8, and 9 use straight-line depreciation. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 500.00 Salvage value. 8.00 Life. 200.00 Declining-balance factor.
  • Page 191: Excess Depreciation

    Keystrokes (RPN mode) (ALG mode) 9429.56\ 9429.56-gØ 10500\ 10500z 8§ 6.5 gÙ 6.5§ ³ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis Display 9,429.56 Total depreciation through seventh year. 10,500.00 Depreciable amount. 1,312.50 Yearly straight-line depreciation.
  • Page 192: Modified Internal Rate Of Return

    2. Calculate the present value of the negative cash flows (NPV) at the safe rate. 3. Knowing n, PV, and FV, solve for i. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 192 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 193 J0gK5g J0gK5g a100000Þ a100000Þ gK5ga6 gK5ga gCfl 6gCfl 20n¼ 20n¼ 12§ §12³ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis # of Months Cash Flow ($) –180,000 100,000 –100,000 200,000 Display 0.00 0.00 First cash flow.
  • Page 194: Black-scholes Formula For Valuing European Options

    Þ 004, g> 005, 006, § 007, 008, 009, 010, 011, 012, 013, 014, 015, 016, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) fCLEARÎ 000, 001, § 002, :¼ 003, 004, 005, Þ 006, g>...
  • Page 195 § 030, 031, 032, 033, 034, Þ 035, g> 036, 037, 038, 039, 040, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis KEYSTROKES DISPLAY (ALG mode) 017, 018, 019, 020, 021, 022, g° 023, 024,...
  • Page 196 052, § 053, 054, 055, 056, § 057, 058, 059, 060, § 061, 062, 063, 064, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 041, Þ 042, g> 043, 044, g¡ 045, 046, 047, 048,...
  • Page 197 079,43,33, 089 g(089 080, 081, 082, § 083, 084, 085, 086, 087, g(028 088,43, 33, 028 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis KEYSTROKES DISPLAY (ALG mode) 065, 066, 067, 068, § 069, 070,...
  • Page 198 (RPN mode) 089, 090, 091, 092,44 30 § 093, 094, 095, 096,44 40 097, 098, 099, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 089,44 30 Þ 090, ?§3 091,44 20 092, 093, 094, g(106...
  • Page 199 Key in the volatility assumption as a percentage and press P. e. Key in the strike price and press M. 3. Press t. The Call value is displayed. Press ~ to see the Put value. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis...
  • Page 200 :¼gC 12grzP 12grP The next example is Example 12.7 from Options, Futures, and Other Derivatives (5th Edition) by John C. Hull (Prentice Hall, 2002). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 6.00 Time to expiry (months). 0.50 Interest rate (% per month).
  • Page 201 20% per annum. Find Call and Put values. Keystrokes Keystrokes (RPN mode) (ALG mode) 10¼ 10¼ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 13: Investment Analysis Display 0.50 Time to expiry (years). 10.00 Interest rate (% per year).
  • Page 202: Leasing

    ¼. 5. Press 1ÞP$+:0³. 6. Key in the initial loan amount then press z~³, to obtain the periodic payment to be received by the lessor. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 14 Leasing Page: 202 of 275...
  • Page 203 3?0-n 3?0n 10gC 10gC 1ÞP 1ÞP $:0+ $+:0³ 750~z 750z~³ If solving for the payment amount will be done repetitively, key in the following hp 12c platinum program. KEYSTROKES (RPN mode) 000, fCLEARÎ g 001, fCLEARG 002, 003, 004,...
  • Page 204 6. For a new case, return to step 2. The values changed from the previous case are the only values which need to be entered. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES...
  • Page 205 Keystrokes Keystrokes (RPN mode) (ALG mode) g× g× fCLEARG fCLEARG 15gC 15gC 750Þ$P 750Þ$P File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 14: Leasing Display 12.00 Duration of lease. 3.00 Number of advance payments. 0.83 0.83 Periodic interest rate.
  • Page 206: Solving For Yield

    60\3 60-3 ?0-n 600P 600P :0§: 25000Þ: P+25000 0:P§ Þ$ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 57.00 Number of periodic payments. 600.00 Monthly payment. -23,200.00 Page: 206 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 207 Keystrokes Keystrokes (RPN mode) (ALG mode) ¼ ¼ §12³ 12§ If solving for yield will be done repetitively, key in the following hp 12c platinum program: KEYSTROKES (RPN mode) fCLEARÎ 000, g 001, 002, fCLEARG 003, 004, 005, 006, 007,...
  • Page 208 1. Then change the payment to $625 and solve for the yield. Keystrokes Keystrokes (RPN mode) (ALG mode) 60?0 60?0 600?2 600?2 25000?3t 25000?3t 625?2t 625?2t File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) REGISTERS PV: Used PMT: Pmt. : Adv. Pmts. : Pmt. Display 60.00 Number of payments.
  • Page 209: Advance Payments With Residual

    004, 005, ¼ 006, 007, 008, 009, 010, 011, 012, 013, 014, 015, 016, 017, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 14: Leasing KEYSTROKES DISPLAY (ALG mode) fCLEARÎ 000, g 001, fCLEARG 002, 003, 004, 005, ¼...
  • Page 210 5. Key in the residual value then press ?3. 6. Key in the total number of payments made in advance then press ?4. Then press t to obtain the payment amount received by the lessor. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES...
  • Page 211 Example 2: Using the information from example 1, what would the monthly payments be if the lessor desired a yield of 18% annually ? Keystrokes Keystrokes (RPN mode) (ALG mode) 18\12z 18z12³ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 14: Leasing Display 48.00 Duration of lease. 15.00 1.25 Monthly interest rate.
  • Page 212: Solving For Yield

    5000Þ\ 145§2= 145\2§= 5000Þ 145gK34g 145gK34g 1500gK 1500gK fL12§ fL§12³ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display Net amount of cash advanced. –4,710.00 34.00 Thirty-four cash flows of $145.00. 0.00 Thirty-fifth cash flow. 1,500.00 Thirty-sixth cash flow.
  • Page 213: Savings

    (RPN mode) (ALG mode) g g fCLEARG fCLEARG 5.25\ 5.25z 4nz¼ 4¼ ÞPM ÞP4nM File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 15 Savings Display 5.25 Nominal rate. 1.31 Percent quarterly interest rate. 5.35 Percent effective interest rate.
  • Page 214 214 Section 15: Savings For repeated calculations, the following hp 12c platinum program can be used: KEYSTROKES DISPLAY (RPN mode) fCLEARÎ 000, g 001, 002, fCLEARG 003, 004, ¼ 005, Þ 006, 007, 008, n: # Periods. i: Nom. Rate/n FV: Eff.
  • Page 215: Effective Rate Converted To Nominal Rate

    ALG Mode: 4. Press +. Key in the effective annual rate as a percentage then press ³ÞM¼. 5. Press §:n³ to obtain the annual nominal rate. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 15: Savings Display 5.25 5.38...
  • Page 216: Continuous Rate Converted To Effective Rate

    Example: What is the effective rate resulting from a 5.25% passbook rate with continuous compounding ? Keystrokes Keystrokes (RPN mode) (ALG mode) 1\5.25b 1³5.25b g> g> à à File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display 100.00 –105.35 1.31 5.25 Percent nominal interest rate. Display 0.05 1.05 5.39...
  • Page 217: Bonds

    002, g× 003, 004, 005, 006, 007, 008, 009, 010, 011, 012, gÒ 013, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 16 Bonds KEYSTROKES DISPLAY (ALG mode) 000, fCLEARÎ 001, fCLEARG 002, g× 003, 004, 005,...
  • Page 218 028,43, 33, 039 g(039 029, 030, 031, ¼ 032, 033, 034, 035, Þ 036, 037, 038,43, 33, 000 g(000 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 KEYSTROKES DISPLAY (ALG mode) 014, 015, 016, 017, 018, 019, 020, 021, 022, 023, §...
  • Page 219 5. Key in the maturity date (MM.DDYYYY)* then press ?4. 6. Key in the redemption value as a percentage of par then press ?5. For information about date format see pages 37 to 38. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 16: Bonds...
  • Page 220 8.282004?3 8.282004?3 6.012008?4 6.012008?4 100?5 100?5 4.75?0 4.75?0 4.5?0 4.5?0 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Display Set compound interest mode if the C indicator is not on. 5.50 Coupon into R 8.28 Settlement date into register R 6.01...
  • Page 221 What yield will that provide ? What would be the yield to maturity if 104% were the quoted price ? Keystrokes Keystrokes (RPN mode) (ALG mode) 105?1t 105?1t 104?1t 104?1t File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 16: Bonds Display 103.41 Price to yield 4.5% (calculated). 1.33 Accrued interest (calculated).
  • Page 222: Annual Coupon Bonds

    222 Section 16: Bonds Annual Coupon Bonds For bonds which have annual coupons, use the following hp 12c platinum program to evaluate price and accrued interest on an Actual/Actual day basis. This program may be modified for annual coupon bonds to be calculated on a 30/360 day basis.
  • Page 223 025, 026, 027, 028, 029, Þ 030, 031, 032, Þ 033, § 034, 035, 036, File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 16: Bonds KEYSTROKES DISPLAY (ALG mode) 019, gÒ 020, 021, 022, 023, gÒ 024, 025,...
  • Page 224 20?0 6.5?2 6.5?2 Positive for cash received; negative for cash paid out. † For information about date format see page 37. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 REGISTERS PV: Used PMT: Cpn. or 0 : Yield : Coupon : Next Cpn.
  • Page 225 Keystrokes Keystrokes (RPN mode) (ALG mode) 100?3 100?3 8.152004?4 8.152004?4 12.012004?5 12.012004?5 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Section 16: Bonds Display 100.00 Redemption value. 8.15 Settlement date. 12.01 Next coupon date. –4.58 Accrued interest. –94.75 Purchase price.
  • Page 227: Appendices

    File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendices Page: 227 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 228: Appendix A: Rpn And The Stack

    RPN and the Stack In RPN mode, four special registers in the hp 12c platinum are used for storing numbers during calculations. To understand how these registers are used, they should be visualized as stacked on top of each other.
  • Page 229: Getting Numbers Into The Stack: The Key

    That’s basically how the stack operates. In the rest of this appendix, we’ll take a more detailed look at how numbers are entered into and rearranged within the stack, and the effect of the various hp 12c platinum functions on the numbers in the stack.
  • Page 230: Termination Of Digit Entry

    T-registers and returns the numbers to their original registers. Note also that although the stack lifts when \ is pressed, it does not lift when a number is entered after \ is pressed. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 , O, _ or ^. If Page: 230 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 231: One-number Functions And The Stack

    X-register. For example, to do each of the four arithmetic calculations shown below, you would put the 8 in the Y-register (using \ and then key the 2 into the displayed X-register.) File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix A: RPN and the Stack Page: 231 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 232: Percentage Functions

    X-register, the number formerly in the X-register is copied into the LAST X register, but the stack does not drop. The numbers in the Y-, Z-, and T-registers are not changed when a percentage function is performed. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 232 of 275...
  • Page 233: Calendar And Financial Functions

    Register DATE Register y (settlement date) x (maturity date) PRICE File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix A: RPN and the Stack n, ¼, $, Ò Ï P, M, l, ∆DYS...
  • Page 234: The Last X Register And The Key

    The diagram on page 229 illustrates how the automatic stack lift and stack drop make chain calculations quick and error-free. Except for \, O, _, ^. For more information, refer to Stack Lift, page 230. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 §...
  • Page 235: Arithmetic Calculations With Constants

    Chain Calculations on page 23 and page 25 — you would have to enter five numbers into the calculator before doing the first operation possible (6 + 7). But since the stack holds only four numbers, this calculation cannot be done left-to-right.
  • Page 236 § 1,095.00 You may want to compare this method of arithmetic calculations with constants to the method using F described on page 91. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Enters base amount into displayed X-register. Annual sales after first year.
  • Page 237: Appendix B: Algebraic Mode (alg)

    Although most of this material is included at the appropriate places throughout this manual, it is collected here for easy reference. To select algebraic mode, press f[. When the calculator is in algebraic mode, the ALG status indicator is lit.
  • Page 238: Keying In Negative Numbers

    Here’s a longer chain calculation: This calculation can be written as: 456 – 75 ÷ 18.5 × 68 ÷ 1.9. Watch what happens in the display as you key it in: File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 } completes the calculation.
  • Page 239: The Key In Alg Mode

    There is an example of its use in the Combinations program in the hp 12c platinum Solutions Handbook. The History Stack in ALG Mode In ALG mode, the stack holds a “history”...
  • Page 240: Parentheses Calculations

    Display (ALG mode) 0.00 5.00 8zgØ5- 4.00 1gÙ ³ 2.00 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 − Clears any pending operations. No calculation is done. Calculates 5 − 1. Calculates − Page: 240 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 241: Percentage Functions

    Example: Yesterday your stock fell from 35.5 to 31.25 per share. What is the percent change ? Keystrokes (ALG mode) 35.5} 31.25 à File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix B: Algebraic Mode (ALG) Display 0.00 Clears any pending operations. 87.50 Interest on the loan is $87.50.
  • Page 242: Percent Of Total

    2q1.4} –1.4 2q1.4Þ} (–2) 2Þq3} or 2 2q3y} File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Clears any pending operations. Keys in the first number. Adds the second number. Adds the third number to get the total. Keys in 2.36 to find out what percentage it is of the number in the display.
  • Page 243: Appendix C: More About L

    IRR answer exists, and what that answer is. For the vast majority of cases, your hp 12c platinum will find the unique IRR answer if it exists. But the IRR computation is so complex that if the cash flow sequence does not meet certain criteria, then sometimes the calculator is unable to determine whether or not an answer or answers exist.
  • Page 244 1. Make a guess for the interest rate and key it in. 2. Press:gt. Your guess will aid the calculator in its search, and if it finds an IRR answer near your guess, that answer will be displayed. Since the calculator cannot tell you the...
  • Page 245: Appendix D: Error Conditions

    = 0). If you attempt such an operation under these conditions, the calculator will display the word Error followed by a digit, 0 through 9. Listed below are operations that cannot be performed under the conditions specified. The symbols x and y represent the number in the X- and Y-registers, respectively, when the operation key is pressed.
  • Page 246: Error 1: Storage Register Overflow

    Attempting to enter more than 400 program lines. Attempting to i to a program line that does not exist. Attempting storage register arithmetic in R Too many open parentheses. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Condition Magnitude of result is greater than 9.999999999×10...
  • Page 247: Error 5: Compound Interest

    Error 5: Compound Interest Operation ¼ Ý File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix D: Error Conditions Condition i = 0 and PMT = 0 PMT is between FV × d and –PV × d, inclusive, where d = , where S=0 for END ×...
  • Page 248: Error 6: Storage Registers

    248 Appendix D: Error Conditions Error 6: Storage Registers Operation Error 7: IRR Refer to Appendix C. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Condition Storage register specified does not exist or has been converted to program lines.
  • Page 249: Error 8: Calendar

    June 1, 2004 (the settlement date) with a maturity date of December 31, 2005, you should change the dates to June 2, 2004 and January 1, 2006 for your calculations. For August 29 and 30, there is no calculator solution that gives the correct answer. File name: hp 12c pt_user's guide_English_HDPMF123E27...
  • Page 250: Appendix E: Formulas Used

    INTG (n) = integer portion of n. FRAC (n) = fractional portion of n. Simple Interest × × × × File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix E ⎞ − Base( ⎟ ⎟ ⎠ Page: 250 of 275...
  • Page 251: Compound Interest

    = PMT – INT = PV = |PV = PMT – INT = PV j –1 ∑ ∑ ∑ ∑ ∑ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix E: Formulas Used ⎡ − ⎤ − − ⋅ ⎢ ⎥...
  • Page 252: Discounted Cash Flow Analysis

    = 30 or 31 then z = 30 if dd = 31 and dd < 30 then z = dd if dd < 31 then z = dd File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 − ⎤ ⎡ −...
  • Page 253: Bonds

    ⎢ ⎝ ⎣ ⎡ ⎢ ⎢ ∑ ⎢ ⎢ ⎛ ⎢ ⎜ ⎢ ⎝ ⎣ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix E: Formulas Used ⎤ ⎥ ⎡ ⎤ − × ⎥ ⎢ ⎥ YIELD ⎣ ⎦...
  • Page 254: Black-scholes Formula For Valuing European Options

    = remaining depreciable value at end of period j = RDV – DPN j–1 = remaining book value = RBV = number of months in partial first year. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 -= d – v , v=s%/100× where RDV = SBV –...
  • Page 255: Straight-line Depreciation

    Keyboard function: FACT ⋅ − Program for partial first year: FACT ⋅ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix E: Formulas Used for j = 1, 2, …, L ⋅ for j = 2, 3, …, L ⋅...
  • Page 256: Modified Internal Rate Of Return

    = the nominal annual interest rate as a decimal. Finite Compounding ⎛ ⎞ − ⎜ ⎟ ⎝ ⎠ Continuous Compounding − File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 for j ≠ 1 ⎤ ⎥ − ⎥ ⎥ ⎦ − ⎤...
  • Page 257: Statistics

    Standard Deviation ∑ ∑ − − Factorial 0! = 1 For n > 1 where n is an integer: ∏ File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix E: Formulas Used ∑ ∑ ∑ ⋅ ∑ − ∑...
  • Page 258: The Rent Or Buy Decision

    = mortgage payment + taxes + maintenance – rent – (% tax) (interest + taxes) = net cash proceeds on resale Annual interest rate = 12 × i File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 258 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 259: Appendix F: Battery, Warranty, And Service Information

    Service Information Battery The hp 12c platinum is shipped with one 3 Volt CR2032 Lithium battery. Battery life depends on how the calculator is used. If the calculator is being used to perform operations other than running programs, it uses much less power.
  • Page 260: Installing A New Battery

    (provided that you turn off the calculator before removing the battery). This allows you ample time to replace the battery without losing data or programs. If the battery is left out of the calculator for an extended period, the contents of Continuous Memory may be lost.
  • Page 261: Verifying Proper Operation (self-tests)

    12c platinum. † If the calculator displays Error 9 as a result of the ; / µ test or the ; / + test but you wish to continue using your calculator, you should reset Continuous Memory as described on page 86.
  • Page 262 If the calculator is operating properly and all the keys are pressed in the proper order , the calculator will display 12 after the last key is pressed. (The \ key should be pressed both with the third-row keys and with the fourth-row keys.) If the calculator is not working properly, or if a key is pressed out of...
  • Page 263: Warranty

    Replacement products may be either new or like-new. 2. HP warrants to you that HP software will not fail to execute its programming instructions after the date of purchase, for the period specified above, due to defects in material and workmanship when properly installed and used.
  • Page 264: Service

    8. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical and editorial errors or omissions contained herein.
  • Page 265: Regulatory Information

    Please logon to http://www.hp.com for the latest service and support information. Regulatory Information This section contains information that shows how the hp 12c platinum financial calculator complies with regulations in certain regions. Any modifications to the calculator not expressly approved by Hewlett-Packard could void the authority to operate the 12c platinum in these regions.
  • Page 266: Temperature Specifications

    In the unlikely event that there is interference to radio or television reception(which can be determined by turning the calculator off and on), the user is encouraged to try to correct the interference by one or more of the following measures: Reorient or relocate the receiving antenna.
  • Page 267: Appendix G: United Kingdom Calculations

    Furthermore, the calculations used by Building Societies are rounded; therefore, to match their scale repayment figures you would have to round your calculations accordingly. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Appendix G Page: 267 of 275...
  • Page 268: Annual Percentage Rate (apr) Calculations

    Application Notes covering such situations may be available in the United Kingdom; check with your local authorized Hewlett-Packard dealer. File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Page: 268 of 275 Dimension: 14.8 cm x 21 cm...
  • Page 269: Function Key Index

    Used to separate numbers (pages 21 and 229). Þ Changes sign of number or exponent of 10 in X-register (page 17). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 É Enter exponent. CLEAR H Clears After pressing, next contents of stack (X,Y,Z...
  • Page 270 (page 41). problem (page 73). P Stores or computes payment amount (page 41). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 V Calculates depreciation using straight-line method. (page 83). E Calculates bond...
  • Page 271 Also computes strength of linear relationship (r) among that set of (x,y) data pairs (page 97). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Function Key Index Modes Number Alteration ] sets calculator to B Rounds mantissa of RPN mode (page 19).
  • Page 272: Programming Key Index

    000 of program memory. Resets N to P008 r20 (page 113) File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Run Mode In Run mode, function keys may be executed as part of a recorded program or individually by pressing from the keyboard.
  • Page 273 If held down, displays line number and contents of all program memory lines, one at a time (page 113). File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Programming Key Index Run Mode Pressed from Executed as a...
  • Page 274: Subject Index

    Battery power, low, 13, 16, 259 Battery, installing, 260 BEGIN status indicator, 47 Black-Scholes formula for valuing European options, 194, 254 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Bonds, 82–83, 217–25, 253, 268 Bonds, 30/360 day basis, 217–21 Bonds, annual coupon, 222...
  • Page 275 184–91 Digit entry, recovering from errors in, Digit entry, termination of, 21, 229 Discounted cashflow analysis, 72 Display, 87 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Subject Index Display format, mantissa, 89 Display format, standard, 88 Display formats, number, 87...
  • Page 276 , 37 , 113 Mantissa, 18, 89 Mantissa Display Format, 89 Mean, 94 Mean, weighted, 99 memory, 27 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Memory, program, 112 Modes alegebraic, 20 RPN, 20 Modified internal rate of return, 192...
  • Page 277 , 106, 117, 122 , 17, 21, 27, 41, 108, 230 , 19, 42 , 88, 100, 231 Reciprocal, 100 registers, 27 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 Subject Index Registers, financial, 41 Registers, statistics, 93 Renting versus Buying, 163...
  • Page 278 , 40, 42, 69, 82, 90, 94, 96, 125, 129, 230 , 100, 231 , 94, 230 , 97, 230 , 99, 125, 129 File name: hp 12c pt_user's guide_English_HDPMF123E27 Printed Date: 2005/8/1 , 13, 82, 83 , 97, 230 , 102, 231 , 230...

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