# HP 10bII+ User Manual Page 89

Financial calculator.

Example: Monthly Payments, Daily Compounding
Starting today, you make monthly deposits of 25 to an account paying 5% interest,
compounded daily (using a 365 day year). What will the balance be in seven years?
Step 1
Calculate the equivalent rate with monthly compounding.
Table 6-26 Calculating the equivalent nominal percentage rate
Keys
V\Ó
DSV\Í
JG\Í
Since NOM% and I/YR share the same memory, this value is ready for use in the rest of the
problem.
Step 2
Calculate the future value.
Set to Begin mode. Press
Table 6-27 Calculating the future value
Keys
GVyÌ
j\Ú
É
Display
5.00
365.00
5.13
12.00
5.01
if BEGIN annunciator is not displayed.
Display
0.00
-25.00
84.00
2,519.61
Description
Stores nominal percentage rate.
Stores bank's compounding
periods per year.
Calculates annual effective rate.
Stores monthly periods.
Calculates the equivalent
nominal percentage rate for
monthly compounding.
Description
Stores present value
Stores payment
Stores total number of payments
Calculates the balance after 7
years.
Time Value of Money Calculations
81