HP 10bII+ Financial Calculator Quick Start Guide HP Part Number: NW239-90201 Edition 1, April 2010 i
Legal Notice This manual and any examples contained herein are provided “as is” and are subject to change without notice. Hewlett-Packard Company makes no warranty of any kind with regard to this manual, including, but not limited to, the implied warranties of merchantability, non-infringement and fitness for a particular purpose. In this regard, HP shall not be liable for technical or editorial errors or omissions contained in the manual.
Keyboard Legend iii
Number iv Primary Functions (white) \ ] SHIFT Up SHIFT Down (orange functions on (blue functions above key bevel) keys) 1 12 digit, 7-segment LCD display 2 Time Value of Money (TVM) Amortization, payments per year/Interest conversion Bonds 3 Input key/margin, cost, price and markup Date and number of days, IRR per year, NPV, beginning/end of payment period Calendar and coupon payment schedules, settlement and maturity dates (bonds) 4 Memory register, Swap, percent change, percent, cash flow
Table of Contents Legal Notice .........................................................................ii Keyboard Legend.................................................................iii Power On and Off ............................................................... 1 Basics of Key Functions ......................................................... 1 Shift Keys ............................................................................ 2 Boxed Key Functions.............................................
Trigonometric Functions .......................................................32 Replacing the Batteries ........................................................33 Customer Care ...................................................................34 Product Regulatory and Environmental Information ..................37 HP Limited Hardware Warranty and Customer Care ...............38 Limited Hardware Warranty Period .......................................38 General Terms .......................................
Getting Started This guide is intended to get you started with your new 10bII+ financial calculator. It includes basic information about the many features available on the 10II+ along with example problems. If you require more information about the concepts presented here, refer to the HP 10bII+ Financial Calculator User’s Guide on the CD included in the package along with your calculator. For more information about HP calculators, please refer to the training materials available at: www.hp.com/calculators.
Table 1-1 Basics of key functions Keys \ [orange] Display 0.00 Description Displays shift annunciator JGD| M \t \N ]Oj ]OY ]OJ ]O: \> . 12_ Erases last character. 0.00 Clears display. STAT CLR (message flashes, then Clears statistics disappears) memory. 12 P_Yr (message flashes, then disappears) BOND CLR (message flashes, then disappears) Clears all memory. Clears bond memory. BR EV CLR (message flashes, then Clears break-even disappears) memory. TVM CLR (message flashes, then Clears tvm memory.
Figure 1 When you press \ or ], a shift annunciator or indicate that the shifted functions are active. For example, press is displayed to \ followed 2 to multiply a number in the display by itself. To turn the shift annunciators off, simply press \ or ] again. by In this guide, key symbols are used to indicate the key presses used in the example problems. These symbols vary in appearance according to whether they indicate the primary, secondary, or tertiary functions required for the problem.
Boxed Key Functions There are three shifted key functions on the calculator that are used to change the operation of another key's function. These three tertiary functions, ]O, ]o and ]r, are bound by blue boxes to show that they operate differently. These special functions require subsequent key presses to operate. For example, the functions associated with the clear key, M, include: Table 1-2 Clearing functions Keys Associated Function M \N ]Oj ]OY ]OJ ]O: Clear display. Clear all memory.
Percentages Table 1-3 Keys for percentage calculations Keys Description § \¨ À ¼ ® Ã Percent Percent change Cost Price Margin Markup Add 15% to $17.50. Table 1-4 Calculating the price Keys Jj7V:1 JV§4 Display Description 17.50 Enters number. 20.13 Adds 15%.
Find the margin if the cost is $15.00 and selling price is $22.00. Table 1-5 Finding the margin Keys JVÀ GG¼ ® Display Description 15.00 Enters cost. 22.00 Enters price. 31.82 Calculates margin. If the cost is $20.00 and the markup is 33%, what is the selling price? Table 1-6 Calculating the price Keys Display Description G:À DDÃ ¼ 20.00 Enters cost. 33.00 Enters markup. 26.60 Calculates price.
Memory Keys Table 1-7 Memory keys Keys Description ª s p m \w Stores a constant operation. Stores a value in the M register (memory location). Recalls a value from the M register. Adds a value to the number stored in the M register. When followed by a number key, : to d, or 7 and : to d, stores a number in the display into a numbered data storage register. There are 20 storage registers, \w7 followed by : d to access registers 10-19.
Multiply 17, 22, and 25 by 7, storing ‘× 7’ as a constant operation. Table 1-8 Storing ‘x 7’ as a constant Keys JjPjª 4 GG4 GV4 Display 7.00 Description Stores ‘× 7’ as a constant operation. 119.00 Multiplies 17 × 7. 154.00 Multiplies 22 × 7. 175.00 Multiplies 25 × 7. Store 519 in register 2, then recall it. Table 1-9 Storing and recalling 8 Keys Display Description VJd\wG M vG 519.00 Stores 519 in register 2. Getting Started 0.00 519.00 Clears display. Recalls register 2.
Store 1.25 into register 15, then add 3, and store the result in register 15. Table 1-10 Storage register arithmetic Keys Display Description J7GV \w7V 1.25 D\w17V 3.00 Adds 3 to 1.25 in register 15 stores the result in register 15. M v7V 0.00 Clears the display. 4.25 Recalls register 15. Inputs 1.25 into the display. Stores 1.25 in register 15.
Time Value of Money (TVM) Enter any four of the five values and solve for the fifth. A negative sign in the display represents money paid out, and money received is positive. Table 1-11 Keys for TVM calculations Keys Description ]OJ Ù Ò Ï Ì É \¯ \Í Clears TVM memory and the current P_Yr is displayed. Number of payments. Interest per year. Present value. Payment. Future value. Begin or End mode. Number of payments per year mode.
Table 1-12 Calculating the monthly payment Keys ]OJ Display Description TVM CLR (message flashes, then disappears) Clears TVM memory and displays the current P_Yr. 12.00 Sets payments per year. JG\Í DS:Ù J:Ò JY:::Ï :É Ì 360.00 10.00 14,000.00 0.00 -122.86 Enters number of payments. Enters interest per year. Enters present value. Enters future value. Calculates payment if paid at end of period. TVM What if... It is not necessary to reenter TVM values for each example.
Table 1-13 Calculating a new payment Keys Display Ï 11,395.08 Description Calculates amount you can borrow. ...how much can you borrow at a 9.5% interest rate? Table 1-14 Calculating a new interest rate Keys Display d7VÒ Ï J:Ò JY:::Ï Ì Description 9.50 Enters new interest rate. 11,892.67 Calculates new present value for $100.00 payment and 9.5% interest. 10.00 Reenters original interest rate. 14,000.00 Reenters original present value. -122.86 Calculates original payment.
Amortization After calculating a payment using Time Value of Money (TVM), input the periods \Ê. Press \Ê once for periods 1–12, and once again for payments 13–24, and so on. Press 4 to continually cycle to amortize and press through the principal, interest, and balance values (indicated by the PRIN, INT, and BAL annunciators respectively). Using the previous TVM example, amortize a single payment and then a range of payments. Amortize the 20th payment of the loan.
Amortize the 1st through 24th loan payments. Table 1-16 Amortization example Keys JÆJG \Ê 4 4 4 \Ê 4 4 4 Display Description 12_ Enters range of periods to amortize. 1 – 12 Displays range of periods (payments). -77.82 Displays principal. -1,396.50 Displays interest. (Money paid out is negative). 13,922.18 Displays the balance amount. 13 – 24 Displays range of periods -85.96 Displays principal. -1,388.36 Displays interest. 13,836.22 Displays the balance amount.
Depreciation Table 1-17 Depreciation keys Keys Description ]OJ Clears TVM memory and displays the current P_Yr. Since depreciation data is stored in the TVM memory, this clears for depreciation also. Ù Ò Ï É ]{ ]x ]u Expected useful life of the asset. Declining balance factor entered as a percentage. Depreciable cost of the asset at acquisition. Salvage value of the asset. Straight-line depreciation. Sum-of-the-years’-digits depreciation. Declining Balance depreciation.
A metalworking machine, purchased for 10,000.00, is to be depreciated over five years. Its salvage value is estimated at 500.00. Using the straight-line method, find the depreciation and remaining depreciable value for each of the first two years of the machine's life. Table 1-18 Calculating the depreciation Keys ]OJ J::::Ï V::É VÙ J]{ Display Description TVM CLR (message flashes, then disappears) Clears TVM memory. 10,000.00 Inputs cost of the item. 500.00 5.
Interest Rate Conversion To convert between nominal and effective interest rates, enter the known rate and the number of periods per year, then solve for the unknown rate. Table 1-19 Keys for interest rate conversion Keys Description \Ó \Ð \Í Nominal interest percent. Effective interest percent. Periods per year. Find the annual effective interest rate of 10% nominal interest compounded monthly. Table 1-20 Calculating the interest rate Keys Display Description J:\Ó JG\Í \Ð 10.
Cash Flows, IRR/YR, NPV, and NFV Table 1-21 Cash flows, IRR, NPV, and NFV keys Keys Description ]O: \Í Clears cash flow memory. ¤ Number of periods per year (default is 12). For annual cash flows, P/YR should be set to 1; for monthly cash flows, use the default setting, 12. Cash flows, up to 45. “J” identifies the cash flow number. When preceded by a number, pressing ¤ enters a cash flow amount. number1 Æ number2 ¤ Enter a cash flow amount, followed by Æ.
Table 1-21 Cash flows, IRR, NPV, and NFV keys Keys Description \½\« Net future value. If you have an initial cash outflow of $40,000, followed by monthly cash inflows of $4,700, $7,000, $7,000, and $23,000, what is the IRR/YR? What is the IRR per month? Table 1-22 Calculating the IRR/YR and IRR per month Keys ]O: JG\Í Y::::y¤ Yj::¤ Display Description CFLO CLR Clears cash flow (message flashes, then memory. disappears) 12.00 -40,000.00 (CF 0 flashes, then disappears) 4,700.
Table 1-22 Calculating the IRR/YR and IRR per month Keys Display j:::ÆG¤ GD:::¤ v¤ 2.00 (CFn 2 flashes, then disappears) 23,000.00 (CF 3 flashes, then disappears) 0 -40,000.00 Description Enters both the cash flow amount (7000.00) and count (2.00) simultaneously for second cash flow. Enters third cash flow. Reviews entered cash flows starting with the initial cash flow. Press 1 to scroll through the cash flow list to verify the cash flow number, the amounts, and count for each entry.
What is the NPV and NFV if the discount rate is 10%? Table 1-23 Calculating NPV and NFV Keys Display Description J:Ò \½ \« 10.00 Enters I/YR. 622.85 Calculates NPV. 643.88 Calculates NFV. For more information on cash flows, refer to chapter 8, Cash Flow Calculations in the HP 10bII+ Financial Calculator User’s Guide. Date and Calendar Table 1-24 Keys used for dates and calendar functions Keys Description ]È Enters dates in DD.MMYYYY or MM.DDYYYY formats. M.DY is the default.
Table 1-24 Keys used for dates and calendar functions Keys Description \Ä Calculates the number of days between two dates. Returned result is always calculated based on the 365-day calendar (Actual). If the current date is February 28 2010, what is the date 52 days from now? Calculate the date using the 365-day calendar (actual) and the M.DY settings. If 360 is displayed, press ]Å. If D.MY is displayed, press ]È. Table 1-25 Calculating the date Keys G7GgG:J: \Ç VG4 Display Description 2.
Bonds Bond calculations, primarily calculating bond price and yield, are performed by ]Ñ and ]Ô. These keys permit you to input data or return results. Pressing ]Û only calculates a result. The other keys used two keys, in bond calculations only permit you to input the data required for the calculations. Table 1-26 Bond calculation keys Keys Description ]Oj ]Û ]Ô ]Ñ ]Î ]Ë Clears bond memory. ]È Toggle date format between day-month-year (dd.mmyyyy) or month-day-year (mm.ddyyyy). Default is mm.ddyyyy.
Table 1-26 Bond calculation keys Keys Description ]Â Toggle bond coupon (payment) between semiannual or ]¾ ]° Input settlement date. annual payment schedules. Default is annual. Input maturity date or call date. The call date must coincide with a coupon date. What price should you pay on April 28, 2010 for a 6.75% U.S. Treasury bond maturing on June 4, 2020, if you want a yield of 4.75%? Assume the bond is calculated on a semiannual coupon payment on an actual/actual basis.
Table 1-27 Bond calculation Keys S7:YG:G: ]° S7jV]Î J::]Ë Display Description 6-4-2020 4 Inputs the maturity date. 6.75 Inputs CPN%. 100.00 Inputs call value. Optional, as default is 100. Y7jV]Ô ]Ñ 1]Û 4 4.75 Inputs Yield%. 115.89 Calculates the price. 2.69 Displays the current value for accrued interest. 118.59 Returns total price (value of price + value of accrued interest). The net price for the bond is 118.59.
Break-even Table 1-28 Break-even keys Keys Description ]OY ]¬ Clears break-even memory. ]© ]¦ ]£ ]~ Stores the sales price per unit or calculates it. Stores the quantity of units required for a given profit or calculates it. Stores variable cost per unit for manufacturing or calculates it. Stores the fixed cost to develop and market or calculates it. Stores the expected profit or calculates it. The sale price of an item is 300.00, the cost 250.00, and fixed cost 150,000.00. For a profit of 10,000.
Table 1-29 Calculating break-even Keys Display Description GV:]¦ D::]© J::::]~ ]¬ 250.00 Inputs variable cost per unit. 300.00 Inputs price. 10,000.00 Inputs profit. 3,200.00 Calculates the current value for the unknown item, UNITS. For more information on break-even calculations, refer to chapter 11, Break-even in the HP 10bII+ Financial Calculator User’s Guide.
Table 1-30 Statistics keys Keys Description v¡ \k \« \T \« \h \« \e \« y-data \Z \« x-data \W \« ]L Opens editor for reviewing/editing statistical data. Means of Mean of x weighted by y. Also calculates b, coefficient. Sample standard deviations of y. Estimate of coefficient. x x and correlation Estimate of y, slope and m coefficient. Permits selection of six regression models or a best fit. Default is linear.
Table 1-31 Statistics example Keys \t GÆV:¡ YÆd:¡ SÆJS:¡ v¡ Display STAT CLR (message flashes, then disappears) Description Clears statistics memory. 1.00 Enters first x,y pair. 2.00 Enters second x,y pair. 3.00 Enters third x,y pair. 1 2.00 Reviews entered statistical data, starting with the initial x value. Press 1 to scroll through and verify the entered statistical data. Press M to exit. \k \« \h 4.00 Displays mean of x. 100.00 Displays mean of y. 2.
Table 1-31 Statistics example Keys Display Description \« 55.68 Displays sample standard deviation of y. \T\« \W\« ]f -10.00 Displays y-intercept of regression line. -27.50 Displays slope of regression line. 1,420.00 Displays Σ xy, sum of the products of xand y-values. For more information on statistical calculations, refer to chapter 12, Statistical Calculations in the HP 10bII+ Financial Calculator User’s Guide.
Table 1-32 Probability keys Keys Description ]< ]9 ]E Calculates number of permutations of n items taken r at a time. Calculates number of combinations of n items taken r at a time. Calculates factorial of n (where -253 < n < 253). Enter .5 as a Z-value and calculate the cumulative probability of the Z-value and the Z-value from a given cumulative probability. Table 1-33 Calculating the probability Keys \5 Display 0.00000 Description Sets number display to five digits to the right of the decimal.
Trigonometric Functions Table 1-34 Trigonometry keys Keys Description ] c, R, or Calculates sine, cosine, or tangent. C ]o c, R, or C ]r c, R, or C ]ro c, R, or C ]3 Calculates inverse sine, cosine, or tangent. Calculates hyperbolic sine, cosine or tangent. Calculates inverse hyperbolic sine, cosine, or tangent. Toggles between radians and degrees modes. Default is degrees. Find Sin θ =.62 in degrees. If RAD is displayed, press ]3.
Convert the results to radians using PI. Table 1-36 Converting to radians Keys P\;aJg:4 Display Description .67 Converts degrees to radians. For more information on trigonometric functions, refer to chapter 2, Getting Started in the HP 10bII+ Financial Calculator User’s Guide. Replacing the Batteries Warning! There is a danger of explosion if batteries are incorrectly replaced. Replace only with the same type of battery or with equivalent batteries (as recommended by the manufacturer).
5. Insert the new battery, making sure that the positive sign (+) battery is facing outward. 6. Gently remove the other battery. 7. Insert the other new battery, making sure that the positive sign (+) battery is facing outward. 8. Replace the battery-compartment lid. 9. Press 10. If the calculator does not turn on, follow the procedures in the section titled, Determining if the Calculator Requires Service in Appendix A of the HP 10bII+ Financial Calculator User’s Guide. =.
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HP Limited Hardware Warranty and Customer Care This HP Limited Warranty gives you, the end-user customer, express limited warranty rights from HP, the manufacturer. Please refer to HP's Web site for an extensive description of your limited warranty entitlements. In addition, you may also have other legal rights under applicable local law or special written agreement with HP. Limited Hardware Warranty Period Duration: 12 months total (may vary by region, please visit www.hp.
due to defects in material and workmanship when properly installed and used. If HP receives notice of such defects during the warranty period, HP will replace software media which does not execute its programming instructions due to such defects. Exclusions HP does not warrant that the operation of HP products will be uninterrupted or error free.
