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APPENDIX
CALCULATOR SETTINGS
Most calculator errors in introductory nance
courses are the result of inappropriate settings.
Before beginning a calculation, you should ask
yourself the following questions:
1. Did I clear the nancial registers?
2. Is the compounding frequency set to once per
period?
3. Is the calculator in END mode?
4. Did I enter negative numbers using the
key?
Compounding Frequency
Both the HP 10B and the TI BA II Plus are hardwired to assume monthly compounding, that is,
compounding 12 times per period. Because very
few problems in introductory nance courses
make this assumption, you should change this
default setting to once per period. On the HP
{P/YR}. To verify that the de10B, press 1
fault has been changed, press the
key, then
press and briey hold the INPUT key.2 The display should read 1P_Yr.
On the TI BA II Plus, you can specify both
payment frequency and compounding frequency, although they should normally be set
to the same number. To set both to once per
period, press the key sequence 2nd {P/Y}
1 ENTER , then press 1 ENTER . Pressing
2nd {QUIT} returns you to standard calculator mode.
1
The
key is colored orange and serves as a Shift key for
the functions in curly brackets.
2
This is the same keystroke used to clear all registers; pretty
handy, eh?
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APPENDIX D
Sign Changes
HP 10B
Sign changes are used to identify the direction of cash inows and outows. Generally, cash inows are entered as
positive numbers and cash outows are entered as negative
numbers. To enter a negative number on either the HP 10B
or the TI BA II Plus, rst press the appropriate digit keys and
then press the change sign key, . Do not use the minus
sign key, , as its effects are quite unpredictable.
SAMPLE PROBLEMS
This section provides keystroke solutions for selected
problems from the text illustrating the nine basic nancial calculator skills.
PV
-2,250.00
D-1
TI BA II PLUS
-2,250.00
PV
-7,000.00
FV
75,000.00
14.08
30.00
17.00
I/YR
17.00
I/Y
CPT
I/Y 14.08
-12,000.00
CPT
FV
7.00
11.00
PMT
PV
TI BA II PLUS
-20,000.00
7.00
I/YR
4,244.31
11.00
CPT
PMT
PV
PV
I/Y
I/YR
1.40
374.00
PMT
374.00
I/Y
4,244.31
42.90
CPT
PMT
42.90
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-12,000.00
1.40
-20,000.00
PV
TI BA II PLUS
249,895.46
HP 10B
FV
75,000.00
HP 10B
249,895.46
18.00
PV
30.00
FV
PV
-7,000.00
18.00
I/YR
TI BA II PLUS
HP 10B
41.25
1,000.00
20.00
3.55
PV
TI BA II PLUS
PMT
FV
41.25
1,000.00
20.00
I/YR
-1,081.35
3.55
CPT
PV
PMT
FV
N
I/Y
-1,081.35
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CONFIRMING PAGES
D-2
APPENDIX D
HP 10B
-1,145.68
PMT
125.00
1,000.00
FV
N
8.00
-1,300.00
CFj
CF
400.00
CFj
2nd
1.00
300.00
{Nj}
1,200.00
PV
ENTER
400.00
ENTER
1.00
ENTER
300.00
ENTER
1.00
ENTER
1,200.00
ENTER
1.00
ENTER
CPT
17.40
{Nj}
CFj
1.00
{Nj}
{IRR/YR} 17.40
PMT
10.00
FV
I/YR
IRR
{NPV} 213.15
{CLR Work}
-1,300.00
CFj
1.00
TI BA II PLUS
PV
TI BA II PLUS
NPV
I/YR
CPT
9.79
I/Y 9.79
10.00
ENTER
CPT
213.15
8. Loan Amortization
YEAR
CASH FLOW
$1,300
400
300
1,200
HP 10B
-24,000.00
16.00
3.00
PMT
1.00
2.00
INPUT
INPUT
{AMORT}
{AMORT}
TI BA II PLUS
PV
-24,000.00
PV
16.00
I/Y
I/YR
N
3.00
CPT
10,686.19
2nd
PMT
{AMORT}
N
10,686.19
2nd
{CLR Work}
1.00
ENTER
1.00
ENTER
(Continued )
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APPENDIX D
3.00
INPUT
{AMORT}
D-3
2.00
ENTER
ENTER
3.00
ENTER
3.00
ENTER
PMT
1.00
3.00
PV
PV
16.00
I/Y
3.00
CPT
10,686.19
2nd
-24,000.00
I/YR
INPUT
{AMORT}
TI BA II PLUS
PMT 10,686.19
{AMORT} 2nd
1.00
ENTER
3.00
ENTER
{CLR Work}
HP 10B
4.00
{P/YR}
7.00
{NOM%}
TI BA II PLUS
2nd
{IConv}
7.00
{EFF%} 7.19
4.00
ENTER
CPT
ENTER
7.19
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