HP 17bll+ User Manual page 63

Menu Label
Stores (or calculates) the total number of payments or

compounding periods.
monthly payments, N＝12 x 30＝360.)
Shortcut for N: Multiplies the number in the display by
@

P/YR, and stores the result in N. (If P/YR were 12, then
30
Stores (or calculates) the nominal annual interest rate

as a percentage.
Stores (or calculates) the present value—an initial cash

flow or a discounted value of a series of future cash
flows (PMTs + FV). To a lender or borrower, PV is the
amount of the loan; to an investor, PV is the initial
investment. If PV paid out, it is negative. PV always
occurs at the beginning of the first period.
Stores (or calculates) the dollar amount of each periodic

payment. All payments are equal, and no payments are
skipped. (If the payments are unequal, use CFLO, not
TVM.) Payments can occur at the beginning or end of
each period. If PMT represents money paid out, it is
negative.
Stores (or calculates) the future value—a final cash

flow or a compounded value of a series of previous
cash flows (PV + PMTs). FV always occurs at the end of
the last period. If FV is paid out, it is negative.
Specifies the number of payments or compounding

periods per year.† (it must be an integer, 1 through
999.)
*
When a non-integer N (an "odd period") is calculated, the answer must be
interpreted carefully. See the savings account example on page 71.
Calculations using a stored, non-integer N produce a mathematically
correct result, but this result has no simple interpretation. The example on
page 172 uses the Solver to do a partial-period (non-integer) calculation in
which interest begins to accrue prior to the beginning of the first regular
payment period.
†
The number of payment periods must equal the number of compounding periods. If
this is not true, see page 87. For Canadian mortgages, see page 197.
Table 5-1. TVM Menu Labels
 would set N＝360.)
@

Second Level
Description
First Level
*†
(For a 30-year loan with
e
5: Time Value of Money 63