hp 17bII+ financial calculator user's guide Edition 2 HP part number F2234-90001 Notice REGISTER YOUR PRODUCT AT: www.register.hp.com 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. HEWLETT-PACKARD CO. SHALL NOT BE LIABLE FOR ANY ERRORS OR FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, OR USE OF THIS MANUAL OR THE EXAMPLES CONTAINED HEREIN. © Copyright 1987-1989, 2003 Hewlett-Packard Development Company, L.P. Reproduction, adaptation, or translation of this manual is prohibited without prior written permission of 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 2 January 2004 Welcome to the hp 17bII+ The hp 17bII+ is part of Hewlett-Packard's new generation of calculators: The two-line display has space for messages, prompts, and labels. Menus and messages show you options and guide you through problems. Built-in applications solve these business and financial tasks: Time Value of Money. For loans, savings, leasing, and amortization. Interest Conversions. Between nominal and effective rates. Cash Flows. Discounted cash flows for calculating net present value and internal rate of return. Bonds. Price or yield on any date. Annual or semi-annual coupons; 30/360 or actual/actual calendar. Depreciation. Using methods of straight line, declining balance, sum-of-the-years' digits, and accelerated cost recovery system. Business Percentages. Percent change, percent total, markup. Currency Exchange. Exchange calculations between two currencies. Statistics. Mean, correlation coefficient, linear estimates, and other statistical calculations. Clock. Time, date, and appointments. Use the Solver for problems that aren't built in: type an equation and then solve for any unknown value. It's easier than programming! There are 28K bytes of memory to store data, lists, and equations. You can print information using the hp 82240 Infrared Printer. You can choose either ALG (Algebraic) or RPN (Reverse Polish Notation) entry logic for your calculations. Welcome to the hp17bII+ 3 Contents 13 16 List of Examples Important Information 1 17 17 17 18 18 19 19 21 22 22 23 25 27 28 28 29 30 31 32 34 34 34 34 35 35 Getting Started Power On and Off; Continuous Memory Adjusting the Display Contrast Setting the Language What You See in the Display The Shift Key (@) Backspacing and Clearing Doing Arithmetic Keying in Negative Numbers (&) Using the Menu Keys The MAIN Menu Choosing Menus and Reading Menu Maps Calculations Using Menus Exiting Menus (e) Clearing Values in Menus Solving Your Own Equations (SOLVE) Typing Words and Characters: the ALPHAbetic Menu Editing ALPHAbetic Text Calculating the Answer (CALC) Controlling the Display Format Decimal Places Internal Precision Temporarily SHOWing ALL Rounding a Number Exchanging Periods and Commas in Numbers 4 Contents 36 36 37 Error Messages Modes Calculator Memory (@M) 2 38 38 38 39 40 40 41 42 43 43 44 45 46 47 48 Arithmetic The Calculator Line Doing Calculations Using Parentheses in Calculations The Percent Key The Mathematical Functions The Power Function (Exponentiation) The MATH Menu Saving and Reusing Numbers The History Stack of Numbers Reusing the Last Result (@L) Storing and Recalling Numbers Doing Arithmetic Inside Registers and Variables Scientific Notation Range of Numbers 3 49 50 50 50 51 52 52 53 Percentage Calculations in Business Using the BUS Menus Examples Using the BUS Menus Percent Change (%CHG) Percent of Total (%TOTL) Markup as a Percent of Cost (MU%C) Markup as a Percent of Price (MU%P) Sharing Variables Between Menus 4 54 54 55 57 Currency Exchange Calculation The CURRX Menu Selecting a Set of Currencies Entering a Rate Contents 5 59 59 60 Converting between Two Currencies Storing and Recalling Sets of Currencies Clearing the Currency Variables 5 61 61 64 66 67 71 74 77 78 82 Time Value of Money The TVM Menu Cash Flow Diagrams and Signs of Numbers Using the TVM Menu Loan Calculations Savings Calculations Leasing Calculations Amortization (AMRT) Displaying an Amortization Schedule Printing an Amortization Table 6 84 85 85 87 Interest Rate Conversions The ICNV Menu Converting Interest Rates Compounding Periods Different from Payment Periods 7 91 91 92 94 95 97 98 98 99 99 100 107 Cash Flow Calculations The CFLO Menu Cash Flow Diagrams and Signs of Numbers Creating a Cash-Flow List Entering Cash Flows Viewing and Correcting the List Copying a Number from a List to the Calculator Line Naming and Renaming a Cash-Flow List Starting or GETting Another List Clearing a Cash-Flow List and Its Name Cash-Flow Calculations: IRR, NPV, NUS, NFV Doing Other Calculations with CFLO Data 6 Contents 8 108 108 110 Bonds The BOND Menu Doing Bond Calculations 9 114 114 116 116 118 119 Depreciation The DEPRC Menu Doing Depreciation Calculations DB, SOYD, and SL Methods The ACRS Method Partial-Year Depreciation 10 121 122 123 123 124 126 126 127 127 127 128 130 133 138 139 140 Running Total and Statistics The SUM Menu Creating a SUM List Entering Numbers and Viewing the TOTAL Viewing and Correcting the List Copying a Number from a List to the Calculator Line Naming and Renaming a SUM List Starting or GETting Another List Clearing a SUM List and Its Name Doing Statistical Calculations (CALC) Calculations with One Variable Calculations with Two Variables (FRCST) Curve Fitting and Forecasting Weighted Mean and Grouped Standard Deviation Summation Statistics Doing Other Calculations with SUM Data 11 141 141 Time, Appointments, and Date Arithmetic Viewing the Time and Date Contents 7 142 143 144 144 145 145 147 148 148 149 150 150 151 The Time Menu Setting the Time and Date (SET) Changing the Time and Date Formats (SET) Adjusting the Clock Setting (ADJST) Appointments (APPT) Viewing or Setting an Appointment (APT1-APT10) Acknowledging an Appointment Unacknowledged Appointments Clearing Appointments Date Arithmetic (CALC) Determining the Day of the Week for Any Date Calculating the Number of Days between Dates Calculating Past or Future Dates 12 153 153 156 157 158 161 161 162 162 162 163 164 164 164 166 168 174 176 177 178 The Equation Solver Solver Example : Sales Forecasts The SOLVE Menu Entering Equations Calculating Using Solver Menus (CALC) Editing an Equation (EDIT) Naming an Equation Finding an Equation in the Solver List Shared Variables Clearing Variables Deleting Variables and Equations Deleting One Equation or Its Variables (DELET) Deleting All Equations or All Variables in the Solver (@c) Writing Equations What Can Appear in an Equation Solver Functions Conditional Expressions with IF The Summation Function () Accessing CFLO and SUM Lists from the Solver Creating Menus for Multiple Equations (S Function) 8 Contents 179 180 181 How the Solver Works Halting and Restarting the Numerical Search Entering Guesses 13 184 185 185 185 186 186 188 188 189 Printing The Printer's Power Source Double-Space Printing Printing the Display(P) Printing Other Information (@p) Printing Variables, Lists, and Appointments (LIST) Printing Descriptive Messages (MSG) Trace Printing (TRACE) How to Interrupt the Printer 14 190 190 190 191 193 195 197 199 200 200 202 206 208 209 213 215 216 217 217 219 Additional Examples Loans Simple Annual Interest Yield of a Discounted (or Premium) Mortgage Annual Percentage Rate for a Loan with Fees Loan with an Odd (Partial) First Period Canadian Mortgages Advance Payments (Leasing) Savings Value of a Fund with Regular Withdrawals Deposits Needed for a Child's College Account Value of a Tax-Free Account Value of a Taxable Retirement Account Modified Internal Rate of Return Price of an Insurance Policy Bonds Discounted Notes Statistics Moving Average Chi-Squared (2) Statistics Contents 9 200 202 205 207 208 211 213 215 216 216 218 Valeur d'un fonds avec retraits réguliers Dépôts nécessaires pour une épargne d'étude Valeur d'un compte exonéré d'impôt Valeur d'un compte non exonéré Taux de rendement interne modifié Prix d'un contrat d'assurance Obligations Rachat d'effet Statistiques Moyenne mobile Chi-carré (2) Statistiques A 221 221 221 223 224 224 226 227 228 229 229 229 230 231 234 236 237 Assistance, piles, mémoire et maintenance Demande d'aide pendant l'utilisation du calculateur Réponses aux questions fréquemment posées Alimentation et piles Témoin de faible charge Installation des piles Gestion de la mémoire du calculateur Réinstallation du calculateur Effacement de la mémoire permanente Précision d'horloge Environnement Votre calculateur doit-il être envoyé au service aprèsvente Vérification du fonctionnement du calculateur : Test automatique Garantie Informations Information sur la réglementation Déclaration du bruit B 238 238 Détails sur les calculs Calculs TRI% 10 Table des matières 248 215 250 251 251 252 252 253 253 253 Cash-Flow Calculations Bond Calculations Depreciation Calculations Sum and Statistics Forecasting Equations Used in (Chapter 14) Canadian Mortgages Odd-Period Calculations Advance Payments Modified Internal Rate of Return C D 254 Menu Maps 261 261 261 262 263 264 264 264 266 266 RPN: Summary About RPN About RPN on the hp 17bII+ Setting RPN Mode Where the RPN Functions Are Doing Calculations in RPN Arithmetic Topics Affected by RPN Mode Simple Arithmetic Calculations with STO and RCL Chain CalculationsNo Parentheses! E 268 268 269 269 270 271 272 273 273 RPN: The Stack What the Stack Is Reviewing the Stack (Roll Down) Exchanging the X- and Y-Registers in the Stack ArithmeticHow the Stack Does It How ENTER Works Clearing Numbers The LAST X Register Retrieving Numbers from LAST X Contents 11 273 274 275 Reusing Numbers Chain Calculations Exercises F 276 283 RPN: Selected Examples Error Messages 289 Index 12 Contents List of Examples The following list groups the examples by category. Getting Started Using Menus Using the Solver Arithmetic Calculating Simple Interest Unit Conversions Simple Interest at an Annual Rate (RPN example on page 276) General Business Calculations Percent Change Percent of Total Markup as a Percent of Cost Markup as a Percent of Price Using Shared Variables Return on Equity Currency Exchange Calculations Calculating an Exchange Rate Storing an Exchange Rate Converting between Hong Kong and U.S Dollars Time Value of Money A Car Loan A Home Mortgage A Mortgage with a Balloon Payment A Savings Account 25 29 40 178 190 50 51 52 52 53 159 57 58 59 67 68 69 71 List of Examples 13 72 74 75 80 82 172 191 193 194 196 197 198 200 200 202 207 208 214 An Individual Retirement Account Calculating a Lease Payment Present Value of a Lease with Advanced Payments and Option to Buy Displaying an Amortization Schedule for a Home Mortgage Printing an Amortization Schedule Calculations for a Loan with an Odd First Period Discounted Mortgage APR for a Loan with Fees (RPN example on page 276) Loan from the Lender's Point of View (RPN example on page 277) Loan with an Odd First Period Loan with an Odd First Period Plus Balloon Canadian Mortgage Leasing with Advance Payments A Fund with Regular Withdrawals Savings for College (RPN example on page 278) Tax-Free Account (RPN example on page 280) Taxable Retirement Account (RPN example on page 282) Insurance Policy Interest Rate Conversions Converting from a Nominal to an Effective Interest Rate Balance of a Savings Account Cash Flow Calculations Entering Cash Flows Calculating IRR and NPV of an Investment An Investment with Grouped Cash Flows An Investment with Quarterly Returns Modified IRR 86 89 97 102 104 105 210 14 List of Examples 111 112 113 215 217 Bonds and Notes Price and Yield of a Bond A Bond with a Call Feature A Zero-Coupon Bond Yield to Maturity and Yield to Call Price and Yield of a Discounted Note Depreciation Declining-Balance Depreciation ACRS Deductions Partial-Year Depreciation Running Total and Statistical Calculations Updating a Checkbook Mean, Median, and Standard Deviation Curve Fitting Weighted Mean A Moving Average in Manufacturing 2 Expected Throws of a Die ( ) Time, Alarms, and Date Arithmetic Setting the Date and Time Clearing and Setting an Appointment Calculating the Number of Days between Two Dates Determining a Future Date How to Use the Equation Solver Return on Equity Sales Forecasts Using a Solver Function (USPV) Nested IF Functions Using Guesses to Find a Solution Iteratively Printing Trace-Printing an Arithmetic Calculation 117 118 120 125 128 134 138 218 220 144 148 151 152 159 166 172 175 181 189 List of Examples 15 Important Inf ...