?_) )FRZ`kt| .Vajnw '.4DSWhq !>I^y#+.5@HR[afow{ 3W_emw~AccumAdding to Memory RegistersAdvanced Calculator FunctionsAmortizationAnalysisAnnualApplicationBackspaceBusinessButtonCOMP,CST,CTRL+Calculating Effective Annual Rates and APR'sCalculationsCalculatorCashClearClearing Memory RegistersClipboardCloseCommandsControlCopies a value onto clipboardCost, Selling Price, Margin, and Mark-upDescriptionDeviationEditEffectiveEntering CalculationsEntering Uneven Cash FlowsEnters theFV,FileFinancial FunctionsFlowFunctionsInterestInternal Rate of ReturnKeyLoan Amortization CalculationsMARMarginMark-upMean ofMemoryMemory FunctionsMemory RegisterMenuNet Present ValueNumber ofOne Variable Statistical AnalysisOperatorsPMTPV,PastePercentPresentPricePrincipalRateRegisterRegressionRelated TopicsReturnSEL,Sample Standard Deviation ofSellingSquareStandardStandard Calculator FunctionsStatisticalStatistical FunctionsStoring to Memory RegistersSum ofSum-SwitchTime Value of Money CalculationsTopicsTwo Variable or Regression AnalysisUnevenUseUsing Business Calculator with ClipboardUsing Statistical FunctionsValueVariableandanotherapplicationcalculatcalculatescharacterchosenclearclipboardcontentsdatadeletesdependentdisplaydisplayed numberenteredenteringfunctionget the variance.independentinterpretsmemorynumberpairedparameterperformsperiodpointpopulation parameter of n-1. Square topopulation parameter of n. Square topreviousraisesregisterregressionresultssamplesquaretheulated Interest and Principal Calculationsusesvaluevariable using regression resultsvariance.whenwindowwith/&;)z4Bracket missi  |CTXOMAPX|FONT*|KWBTREE!|KWDATAc|KWMAP|Phrases|SYSTEMD |TOMAP!|TOPICz |TTLBTREEP!AdvCalc_perform Stat_One Stat_Two8 Stat_UsingUsing_ClipboardFin_FunctionsMem_FunctionsCalc_FunctionsStat_Functions App_Control File_Menu Edit_Menu View_Menu Format_Menu App_ControlEdit_Menu_CopyCopies a value onto clipboardEdit_Menu_PastecPastes a value from Clipboard to Business Calculator's display or performs a calculator function.Using_ClipboardUsing_Clipboard.Using_Clipboard Fin_TVM_FV+ Fin_TVM_PV Fin_TVM_n Fin_TVM_i Fin_TVM_PMT Fin_Acc_Int Fin_EAR_APRFin_Uneven_CF Fin_IRR Fin_Amrt Fin_NPVDef_n  Def_i= 10n Def_PVF Def_PMTDef_comp_per Other Than Annual109 Def_ann_dueDef_n = 5FDef_i Def_FV Def_PMTDef_comp_per+ Other Than Annual 5 * 4 = 20 Def_ann_dueDef_i= 13 Def_PVF = 10,000n Def_FV= 10,000 * 2 = 20,000 Def_PMT6-l( Business Calculator K[   &&!INDEX&T*<103.>,2+687:IndexKEYBOARDD\COMMANDS -`B6ViewFormatPROCEDURESulated Kw0<Growing AnnuitiesMPcWorking ^sPerforming fWxW?PT*;9/+ W+!PROCEDURES;+;*&T*ProceduresOF;O0T*Ps103.>,2+687:;9/ulated Kw0<Growing AnnuitiesMPcWorking ^sPerforming f+O+&T*)+)!KEYBOARDy)WT*NboardD\))!COMMANDSP)hT* < * ,B6ViewFormat44!AFINANCIAL FUNCTIONS:!4:&T*/Financial H&:2=LJPBS~؀NFunctionCOMPCCompute - to compute R, MU, n, i, mAj, APR, EFF.CFt$!Gfor t - This is used ing NPV IRR. When you choose CFt, that is in is into !GBox. If more than 1 consecutive has same cash flow, use Nt in conjunction CFt.Nt#es same cash flow - CFt re is more than 1 consecutive same Rcash flow. The in you press Nt is of s same cash flow. Then you may enter cash flow press CFt.9297@JPBS~؀NPVYc- Calculates net present of s in cash flow box using interest rate into i.IRR?M- Calculates internal rate of return of s in cash flow box.nnes - The in will be into n . If you want to compute n, enter appropriate s in i, mAkn press COMP n.iiKy- The in is into i . It should be as a PERCENT not a DECIMAL. If you wish to compute i, enter appropriate s in n, mAkn press COMP i. This ion may take a little time.i9i38JPBS~؀PVPs- The in is into PV . If you wish to compute present , enter appropriate s in n, i, Akn press COMP PV.FVFFuture - The in is into FV . If you wish to compute future , enter appropriate s in n, i, mkn press COMP FV.jHAnnuity Payment - The in is into k. To use this , payments must be equal for all n s. If BGN key is not set, it is assumed that payments come at end of each . To e annuity payment, enter appropriate s in n, i, mFV n press COMP j.OiO7@JPBS~؀gGGrowth y- The in is into g . This is rate that payments are increasing for a growing annuity. It should be as a PERCENT, not a DECIMAL.BGNBBeginning of - Pressing BGN key tells or that payments occur at beginning of instead of end of . It is used n, i, mAj.EFFW9 y- Converts into APR an effective annual rate using of compounding s into n.APRA page y- Converts into EFF into an annual percentage rate using of compounding s into n.O7@JPBS~؀AMRTZ- Numbers must be into n, ,i, mAj. By pressing AMRT, an mortizati& uon table is ed which can be edited, printed, saved, copied to other s.P1JPeriod 1 of ulation Periods - Numbers must be into n, i, mAj. Enter first you are interested in press P1.P2KPeriod 2 of ulation Periods - Numbers must be into n, i, mAj. Enter last you are interested in press P2.SELSu- The in is into SEL . To e selling price enter appropriate s into R, MU n press COMP SEL. You only need either Sor MU, not both.7@JPBS~؀RMU- The in is into S. Enter as a PERCENT not a DECIMAL. To e margin, enter appropriate s into MU n press COMP R.MUUW- The in is into MU . Enter as a PERCENT not a DECIMAL. To e mark-up enter appropriate s into Sn press COMP MU.CSTTCost - The in is into CST . To e cost enter appropriate s into R, MU n press COMP CST. You only need either Sor MU, not both.ACCOulated Kw- Numbers must be into P1/P2, n, i, mAj. Press ACC to get total principal paid from first to second into P1/P2. Press ACC again to get total interest paid from first to second .++("JPBS~؀1+1!gMEMORY FUNCTIONS-1-&T*\ d- NnJPBA}؀N2M11Display _1M22Display _2M33Display _3M44Display _4M55Display _5STO6Store in , replaces M+7Adds to of > >!STANDARD CALCULATOR FUNCTIONS1#>1)$T*'13PrJPBS~؀N2CAESC#All - s plus all s except sCCEDelete#- s or last entry - does not any s. If you press this button twice, you will all operations since last equal.BACK- last digit of or left arrowe^xXExponential - e to power in lnLLogarithm - natural log of n!!Factorial - factorial of %%q- converts to a percenty^x^Power - in to power of next r3rMlJPBS~؀SQRT@Root - root of 1/xVInverse - inverse of x^2Q- of //Dividex*Multiply--Subtract..Decimal - inserts a decimal in +/-9Change sign - changes sign of ++Add== or EnterEquals - operation between two s6r6!. STATISTICAL FUNCTIONS-6-&T*)?-)7@JPBS~؀N2RRCorrelation coefficient - This is a that may take on s between -1 1. A close to 1 indicates a highly positive correlation, a close to -1 indicates a highly negative correlation, a close to 0 indicates very little correlation between two variables. This key is only valid in two-variable statistics.aaIntercept - This gives y-intercept in line estimated from . The line is of form y=a+bx. This key is only valid in two-variable statistics.?)?02JPBS~؀bbSlope - This gives slope of line estimated from . The line is of form y=a+bx. This key is only valid in two-variable statistics.X'XX - This predicted of (x) variable for a given (y) variable using . The in is used as (y) variable. This key is only valid in two-variable statistics.Y'YY - This predicted of (y) variable for a given (x) variable using . The in is used as (x) variable. This key is only valid in two-variable statistics.(?49DJPBS~؀STATSStatistics Box - enables statistics s.xJXi's.yKYi's - This k,key is only valid in two-variable statistics.xyLproducts of Xi Yi - This is used in ing s (a b). This key is only valid in two-variable statistics.SxDX - This gives standard deviation using a population of n-1. result to SyEY - This gives standard deviation using a population of n-1. result to  This key is only valid in two-variable statistics./4/;HJPBS~؀pSxPPopulation 5of X - This gives standard deviation using a population of n. result to pSyQPopulation 5of Y - This gives standard deviation using a population of n. result to  This key is only valid in two-variable statistics.MxNYX - average.MyMYY - average. This key is only valid in two-variable statistics.(x,y),?(x) . This key is only valid in two-variable statistics.DATAd?non-paired or (y) .* /*!FILE MENU3*3)$T*C`XI3X14T*PAS~ExitQuits . Same as  -(5X5!APPLICATIONS CONTROL>+5>,*T*   -a*KC>K$T*To  -`, do one of following|K..T*PAS~-Click  -abox-Press ALT+Space barRestores active to its size.n("T*P~MoveDisplays a four-headed arrow you can use direction keys to reposition an .Q7Q)$T*PAS~MinimizeShrinks an to an icon.;'Q;("T*P~((s an .@1;@("T*PAS~Toto open .* @*!EDIT MENU/*/&T*7`=)/=/0T*PAS~Copy.en=q14T*P~nns a from 'to 's or l'''a or .%q%!#COPY/ %/&T*Copyky/k' T*..this command you want to copy a paste it into .=>k=14T*P!s/~'='$T*&'&!UPASTE- &-&T*n6--,T*/ns a from to 's or a .each in as if were on keyboard. When you paste from , some s as key sequences.;>;/0T*P!s/~* ;*!<VIEW MENU8*8*&T*View `8,*T*P~^sChoosing this option will bring up a dialog box which will list of all five s. Pressing Alt + M will also bring up dialog box out going through menu. Pressing Cancel will remove box. Pressing #All in dialog box will s.Financial zsChoosing this option will bring up a dialog box which will list of following nine financial s: n, i, mAj, EFF, APR, 1, 2 (P1 P2). Pressing Alt + I will also bring up dialog box out going through menu. Pressing Cancel will remove dialog box. Pressing #All in dialog box will ed s.*02T*P~ Accounting zsChoosing this option will bring up a dialog box which will list of following four accounting s: R, MU, CST. Pressing Alt + A will also bring up dialog box out going through menu. Pressing Cancel will remove dialog box. Pressing #All in dialog box will ed s.TapeChoosing this option will bring up a box which is similar to an adding machine tape. It will show all operations from time it is opened to time it is closed. A copy of tape may be printed to a printer or portions can be copied to s document using cut paste. You ca*v-*n also edit tape usual user interface keys for edit control are active. One important key sequence to remember is Ctrl-End. This sequence returns cursor to end of tape. If you have been editing tape you fail to return cursor to end of tape n next operation will start where you have been editing instead of at end.+ +!r+6TIME VALUE+$++%T*+KhT*P~ ()*Future sPeriod KyPayment ~U|T*P!s10.,2+ulated Kw<Mof Pc- -!: FUTURE VALUE?-?%T* Calculating Future s)?)&T*P~ ) 14T* ExampleSuppose you receive $1000 on your 16th birthday. If you deposit money in a savings account which earns 10% compounded annually, how much will you have on your 25th birthday?Determining variables `JPB!s!!"#$n = 25 - 16 = 9 Since interest is compounded annually, we just use of years.i = 10PV= $1000j= $0Y2Y14JPB!sAEntering information ing FVB6YB4:JPB!s!1.Press CA to s.2.Enter 9, n press n.3.Enter 10, n press i.4.Enter 1000, n press PV.5.Since s are set to 0 y are ed, we do not need to do anything payment. If you wish, however, you may enter 0, n press j.6.Press n press FV.LBL26JPB!sAAnswer:2357.947691L:FJBA Note: All ions dealing n, i, mFV are simple growth problems that can be applied to many situations other than money.Ex6B72ampleIn fall semester of 1990, University has an enrollment of 25,000. If re are 2 semesters per year enrollment is expected to increase by 2% per semester, what will enrollment be in fall semester of 1992 (4 semesters later)?Determining variablesm)mE\JPB!s!n= 4i= 2PV= 25,000j= 0Y2mY14JPB!sAEntering information ing FVY38JPB!s!1.Press CA.2.Enter 4, n press n.3.Enter 2, n press i.4.Enter 25000, n press PV.5.Press n press FV.EE..JPB!sAAnswer:27,060.804U+EU..JBA&Compounding Periods Other Than  U5<JB! When compounding occurs more often than annually, we must divide annual percentage rate (APR) by of compounding s per year to get i. We must also multiply of years by of compounding s to get n. The rate quoted by banks, finance companies, etc.. must be APR, by law.ExampleGiven a quoted rate of 10% following compounding s, what should you use for i?4:JPBт}Compounding Period iSemiannually10/2 = 5Quarterly10/4 = 2.5Monthly10/12 = .8333333333333Weekly10/52 = .1923076923077Daily10/365 = .027397260273979DJB ExampleYou deposit $10,000 in a savings account for your daughter she is born. If savings account pays 5.5% compounded daily, how much will she have for college in 18 years?Determining variablesOE\JPB!s!n= 18 * 365 = 6570i= 5.5/365 = .01506849315068PV= 10,000j= 0Y2Y14JPB!sAEntering information ing FVY26JPB!s!1.Press CA.2.Enter 18\??2 * 365 = , n press n.3.Enter 5.5 / 365 = , n press i.4.Enter 10000, n press PV.5.Press n press FV.VV8BJPB!sAAnswer:26,910.337634VYJB! Calculating FV paymentsExampleYou want to buy a house in 3 years, so you want to begin saving for down payment today. You plan to deposit $100 a month, beginning at end of this month, in a savings account which earns 8% compounded monthly. How much will you have for down payment in 3 years?Determining variablesn= 3 * 12 = 36i= 8 / 12 = .6666666666667PV= 0j= 100Entering information ing FV7@JB!1.Press CA.2.Enter 36, n press n.3.Enter 8 / 12 = , n press i.4.Enter 100, n press j.5.Remember that PV is already 0 since we ed s.6.Press n press FV.;;>NJBA Answer:4053.55577431ExampleSuppose you deposit $1000 into a mutual fund today will deposit $500 a year, beginning 1 year from today, for 10 years. If fund earns 9% per year, how much will you have in 10 years?Determining variables=;=[JPB!s!n= 10i= 9PV= 1000j= 500Entering information ing FV1.Press CA.2.Enter 10, n press n.3.Enter 9, n press i.4.Enter 1000, n press PV.5.Enter 500, n press j.6.Press n press FV.Z%=Z5<JPB!sA Answer:9963.828533437Example!Z!14JBASuppose a university wants to set up a scholarship fund. They invest $100,000 at 12% compounded annually. If y draw $10,000 a year beginning 1 year from today, how much will be in account in 10 years?Determining variablesa![JPB!s!FG2n= 10i= 12PV= 100,000j= -10,000 Since you are drawing payments, you need to enter payment a negative sign.Entering information ing FV1.Press CA.2.Enter 10, n press n.3.Enter 12, n press i.4.Enter 100000, n press PV.5.Enter -10000, n press j6.Press n press FV.p5p;HJPB!sA' Answer:130597.4701391Annuity DuesExamplep02JB!Suppose you are saving money for a new car. If you deposit $100 a month, beginning today, in an account which pays 12% compounded monthly, how much will you have in one year?Determining variables|G|[JPB!s!n= 1 * 12 = 12i= 12/12 = 1PV= 0j= 200Entering information ing FV1.Press CA.2.Press BGN. This tells or that payments come at beginning of .3.Enter 12, n press n.4.Enter 1, n press i.5.Enter 200, n press j.6.Press n press FV.I|I..JPB!sAAnswer:2561.865608666nLIn*&JPB!s!7.Press BGN. This changes or back to a normal payment mode.. n.!(PRESENT VALUE<.<("JBA Calculating s?<?14JPB!sA Example?-,JBASuppose you know you are going to receive $5000 in 5 years. If going interest rate is 6% compounded annually, what is $5000 worth today?Determining variablesyĀJPB!s!!"%$n = 5i= 6FV= 5000j= 0Entering information ing PV1.Press CA to s.2.Enter 5, n press n.3.Enter 6, n press i.4.Enter 5000, n press FV.5.Since s are set to 0 y are ed, we do notMNM need to do anything payment. If you wish, however, you may enter 0, n press j.6.Press n press PV.HH..JPB!sAAnswer:3736.29086433U+HU..JBA&Compounding Periods Other Than  U5<JB! When compounding occurs more often than annually, we must divide annual percentage rate (APR) by of compounding s per year to get i. We must also multiply of years by of compounding s to get n. The rate quoted by banks, finance companies, etc... must be APR, by law.ExampleGiven a quoted rate of 10% following compounding s, what should you use for i?38JBCompounding Period iSemiannually10/2 = 5Quarterly10/4 = 2.5Monthly10/12 = .8333333333333Weekly10/52 = .1923076923077Daily10/365 = .027397260273979 9-,JPB!sA Example9-,JB!You need $20,000 in five years for a down payment on a house. If a mutual fund earns 11% compounded quarterly, how much do you need to deposit today?Determining variables<<YJPB!s!n= 5 * 4 = 20i= 11 / 4 = 2.75FV= 20,000j= 0Entering information ing PV1.Press CA.2.Enter 20, n press n.3.Enter 11 / 4 = , n press i.4.Enter 20000, n press FV.5.Press n press PV.}E<};HJPB!sA Answer:11625.01132642Calculating PV paymentsExampleL%}L-,JBAYou have just won lottery. The jackpot is $10 million which you will receive in yearly installments of $500,000 per year for 20 years, beginning 1 year from today. The interest rate is 9% compounded annually. How much is lottery actually worth today?Determining variables"L.YJPB!s!VWMn= 20i= 9FV= 0j= 500,000Entering information ing PV1.Press CA.2.Enter 20, n press n.3.Enter 9, n press i.4.Enter 500000, n press j.5.Press n press PV.v.8BJPB!sA Answer:4564272.834543Note: following is a common problem in investments corporate finance.Example::-,JBAYou want to purchase a corporate bond a $1000 face . It pays an annual coupon of $100 matures in 15 years. The next coupon will be paid in 1 year. The yield to maturity on similar bonds is 12%. What is a fair price for this bond?Determining variables?:?[JPB!s!n= 15i= 12FV= 1000j= 100Entering information ing PV1.Press CA.2.Enter 15, n press n.3.Enter 12, n press i.4.Enter 1000, n press FV.5.Enter 100, n press j.6.Press n press PV.t6?t>NJPB!sA' Answer:863.7827102107Annuity DuesExamplet-,JBAYou are going to receive $300 a month for next 3 years. The first payment will be received today. The going interest rate is 6% compounded monthly. What is of this annuity?Determining variablesJ[JPB!s!n= 3 * 12 = 36i= 6 / 12 = .5FV= 0j= 300Entering information ing PV1.Press CA.2.Press BGN. This tells or that payments come at beginning of .3.Enter 36, n press n.4.Enter .5, n press i.5.Enter 300, n press j.6.Press n press PV.II..JPB!sAAnswer:9910.611396138nLIn*&JPB!s!7.Press BGN. This changes or back to a normal payment mode.!nB!XXXXXXXXXXXXXXXXXXXXX_ `_qgBq%JBAThe of s. The of s, interest rate, of payments must agree.!q!!bA !A%JBAThe interest rate per .!A!!mL!m%JBAThe present of future cash flows based on a given rate of interest.!m!!zY:!Y%JBAEqual cash flows which occur at end of each .!Y!!sR7!R%JBAThe of cash flows at some in future.!R!!!%JBAThis tells how often interest is applied. With compounding, you receive interest on interest which has been ly paid. This means more compounding s, more you are actually earning.!!!!%JBAAn annuity due is you have a series of equal payments payments coming at beginning of instead of end. An ordinary annuity has payments coming at end of .22!f )NUMBER OF PERIODSE&2E)$JBA Calculating ePeriodsE5<JBA ExampleIf you deposit $10,000 in a mutual fund earning 13% compounded annually, how long will it be before you double your money?Determining variablesgJPB!s!"#%$i= 13PV= 10,000FV= 10,000 * 2 = 20,000j= 0Entering information ing n1.Press CA to all s.2.Enter 13, n press i.3.Enter 10000, n press PV.4.Enter 20000, n press FV.5.Since s are set to 0 y are ed, we do not have to do anything payment. You may, however, enter 0 , n press j.6.Press n press n.LL14JPB!sAAnswer:5.67141716878U+La..JBA&Compound|ggVding s other than annuala5<JB! When compounding occurs more often than annually, we must divide annual percentage rate (APR) by of compounding s per year to get i. We must also multiply of years by of compounding s to get n. The rate quoted by banks, finance companies, etc.... must be APR, by law.ExampleGiven a quoted rate of 10% following compounding s, what should you use for i?7@JPBAS~Compounding Period iSemiannually10/2 = 5Quarterly10/4 = 2.5Monthly10/12 = .8333333333333Weekly10/52 = .1923076923077Daily10/365 = .027397260273979DJBA ExampleYou need $25,000 for a down-payment on a house. If you have $15,000 today can earn 8% compounded daily, how long will it take to get $25,000?Determining variablesHHYJPB!s!i= 8 / 365 = .02191780821918PV= 15,000FV= 25,000j= 0Entering information ing n1.Press CA.2.Enter 8 / 365 = , n press i.3.Enter 15000, n press PV.4.Enter 25000, n press FV.5.Press n press n.MHM14JPB!sAAnswer:2330.897311914eM*&JPB!s!6.Remember this is in days, so to convert to years we take 2330.897311914 / 365 = 6.386020032642.[+[38JPB!sA Calculating n paymentsExample[02JBAA corporate bond a face of 1000, an annual coupon of $110, a yield to maturity of 10% sells for $1068.14. How many years until this bond matures?Determining variablesJV[JPB!s!i= 10PV= 1068.14FV= 1000j= 110Entering information ing n1.Press CA.2.Enter 10, n press i.3.Enter 108noVd68.14, n press PV.4.Enter 1000, n press FV.5.Enter 110, n press j.6. Press n press n.GVG-,JPB!sAAnswer:12.00101483236. G.! (*INTEREST RATE@".@)$JBA Calculating Kx@5<JBA ExampleSuppose 6 years ago you deposited $500 in an account which compounds interest on an annual basis. If re is $1000 in account today, what interest rate have you been earning?Determining variablesYgJPB!s!!#%$n= 6PV= 500FV= 1000j= 0Entering information ing i1.Press CA to all s.2.Enter 6, n press n.3.Enter 500, n press PV.4.Enter 1000, n press FV.5.Since we ed s, kis already 0. You may, however, enter 0, n press j.6.Press n press i.zEz9DJPB!sA&Answer:12.24520483094Compounding s other than annualLEzL("JB!When compounding occurs more often than annually, we must divide annual percentage rate (APR) by of compounding s per year to get i. We must also multiply of years by of compounding s to get n. The rate quoted by banks, finance companies, etc... must be APR, by law.9 L9-,JPB!sA Example902JBAFive years ago you deposited $100 in a savings account. You now have $149.14 in account. If interest is compounded weekly, what is annual percentage rate (APR)?Determining variables0MYJPB!s!n= 5 * 52 = 260PV= 100FV= 149.14j= 0Entering information ing i1.Press CA.2.Enter 260, n press n.3.Enter 100, n press PV.4.Enter 149.14, n press FV.5.Press n press i.XXXXXXXXXXXXXXXXXv xpIMI..JPB!sAAnswer:.1538548800266`I*&JPB!s!6.To convert to an APR you need to multiply by 52. i.e. .1538548800266 * 52 = 8.000453761383[+[38JPB!sA Calculating i paymentsExample[02JBAA corporate bond has following istics: $1000 face ; $60 semiannual coupon; 10 years to maturity; $1059.75 market price. If next coupon payment is 6 months from today, what is yield to maturity?Determining variablesP P[JPB!s!n= 10 * 2 = 20PV= 1059.75FV= 1000j= 60Entering information ing i1.Press CA.2.Enter 20, n press n.3.Enter 1059.75, n press PV.4.Enter 1000, n press FV.5.Enter 60, n press j.6.Press n press i.IPI..JPB!sAAnswer:5.500084216143fI*&JPB!s!7.To get yield to maturity we need to multiply by 2. i.e. 5.500084216143 * 2 = 11.00016843229))! )PAYMENTSB)B)$JBA Calculating PaymentsB:FJBA When ing payments, n i must match frequency of payments. i.e. If payments occur monthly, n n should be of months i should be interest rate per month.ExampleYou are going to borrow $75,000 to buy a house. If you take out a 30-year loan an annual percentage rate (APR) of 9.5% first payment comes in 1 month, what is your monthly payment?Determining variablesgJPB!s!!"#%n= 30 * 12 = 360i= 9.5 / 12 = .7916666666667PV= 75,000FV= 0Entering information ing j1.Press CA to all s.2.Enter 360, n press n.3.Enter 9.5 / 12 = , n press i.4.Enter 75000, n press|~}| PV.5.Since s have been ed, FV is already 0. You may, however, enter 0, n press FV.6.Press n press j.`'`9DJPB!sA Answer:630.6406553841Example`02JBAIf you need $25,000 in 18 years for your child's education, how much do you need to save per week if interest rate is 10% compounded weekly. You will make first deposit in 1 week.Determining variablesLLYJPB!s!n= 18 * 52 = 936i= 10 / 52 = .1923076923077PV= 0FV= 25,000Entering information ing j1.Press CA.2.Enter 936, n press n.3.Enter 10 / 52 = , n press i.4.Enter 25000, n press FV.5.Press n press j.t6Lt>NJPB!sA' Answer:9.540587633684Annuity DuesExampleBtB02JBASuppose you want to start saving for a new Mercedes. You estimate cost of car to be $100,000 in 3 years. If you want to make monthly deposits, starting today, to an account which pays 15% compounded monthly, what should your payments be?Determining variablesABE\JPB!s!n= 3 * 12 = 36i= 15 / 12 = 1.25PV= 0FV = 100,000W3W/0JB!Entering information ing jW5<JPB!s!1.Press CA.2.Press BGN. This tells or that payments occur at beginning of .3.Enter 36, n press n.4.Enter 1.25, n press i.5.Enter 100000, n press FV.6.Press n press j.MM14JPB!sAAnswer:2189.168247328kJMk+(JPB!s!7.Press BGN. This returns or to normal payment mode.2k2!;2NET PRESENT VALUE/2/&T* c3//0T*By definition, net present is present of all future cash flow minus any initial investment. If you have a lump sum cash flow or an annuity, you can e present as discussed in  n subtract initial investment.!FsWhen future cash flows are not same each you can use CFt key to enter each 's cash flow. One thing to remember is you MUST begin a cash flow at beginning of project, even if it is 0, you can't skip any s.7@T* -ExampleYou are looking at a project which will cost $100,000 will pay $20,000 at end of first year, $40,000 at end of second year, $80,000 at end of third year, $10,000 at end of fifth year. (No money will be received at end of fourth year.) If your cost of capital is 12%, what is net present ?Determining variables%%"T* % lJPB!s!CF(0)= -100,000 !outflows are always negative.CF(1)= 20,000CF(2)= 40,000CF(3)= 80,000CF(4)= 0CF(5)= 10,000i= 12Entering information ing NPV1.Press CA to all s or #All if cash flow dialog box is open.2.Enter -100000, n press CFt. This will bring up cash flow dialog box which allows you to view cash flows that have been .3.Enter 20000, n press CFt. 5<JPB!s!4.Enter 40000, n press CFt.5.Enter 80000, n press CFt.6.Enter 0, n press CFt.7.Enter 10000, n press CFt.8.Enter 12, n press i.9.Press NPV.II..JPB!sAAnswer:12361.58634144M/IM' JBAConsecutive s same cash flows,M,)$JPB!sAjH,v5<JBA ExampleYour firm is looking at a project which will cost $500,000 up front, will pay $75,000 at end of 1]first 5 years, pay $50,000 at end of next 5 years, will cost $20,000 to be removed at end of year 10. If your cost of capital is 15%, what is net present ?Determining variablesvF^JPB~CF(0)= -500,000CF(1)-CF(5)= 75,000 note that re are five of seCF(6)-CF(9)= 50,000 note that re are four of seCF(10)= 50,000 - 20,000 = 30,000R1R+(JBAEntering information ing NPVqR;HJPB!s!1.Press CA or #All if cash flow dialog box is open.2.Enter -500000, n press CFt.3.Enter 5, n press Nt. This tells or that next five s have same cash flow.4.Enter 75000, n press CFt.5.Enter 4, n press Nt.6.Enter 50000, n press CFt.7.Enter 30000, n press CFt.8.Enter 15, n press i.9.Press NPV.wNw02JPB!sAAnswer:-170201.3853794Calculating present uneven cash flowsxw:FJBA You can also use CFt, Nt, NPV to e present of uneven cash flows.ExampleYou are going to receive $1000 bonus at end of this monthly, $500 bonus at end of next month, $250 bonus at end of month after that. If interest rate is 12% compounded monthly, what is present of your bonuses?Determining variables9F^JPB!s!CF(0)= 0CF(1)= 1000CF(2)= 500CF(3)= 250Q0Q+(JBEntering information ing PVtQ7@JPB!s!1.Press CA or #All if cash flow dialog box is open.2.Enter 0, n press CFt.3.Enter 1000, n press CFt4.Enter 500, n press CFt.5.Enter 250, n press CFt.6.Enter 1, n press i.7.Press NPV. Since re is no initial cash outflow, PV = NPV. If re had been an initial cash outflow you would add amount to NPV)z to get PV.II..JPB!sAAnswer:1722.894571586ZwIZATJPB!s!.,~<M8Z8!8 >2INTERNAL RATE OF RETURN2%82)$JB M[2:FJB The internal rate of return of a stream of cash flows is rate return which gives a net present of 0.ExampleYour company is considering a project which has an initial outlay of $50,000. It will pay $25,000 in 1 year, $20,000 in 2 years, $15,000 in 3 years. What is internal rate of return?Determining variablesjF^JPB!sCF(0)= -50,000 cash outflows are always negativeCF(1)= 25,000CF(2)= 20,000CF(3)= 15,000R1R+(JBEntering information ing IRRp`Rp5<JPB!s!1.Press CA to all s or #All if !Gdialog box is already open.2.Enter -50000, n press CFt. This will bring up cash flow dialog box which allows you to see cash flows which have been .3.Enter 25000, n press CFt.4.Enter 20000, n press CFt.5.Enter 15000, n press CFt.6.Press IRR.IpI..JPB!sAAnswer:10.65168082714I5<JBA ExampleA possible investment has following cash flows: $75,000 initial outlay $40,000 in years 1 through 3. What is internal rate of return?Determining variablesN6>JPB~CF(0)= -75,000CF(1) - CF(3)= 40,000 note re are three cash flowsR1R+(JBEntering information ing IRRR!38JPB!s!1.Press CA or #All if cash flow dialog box is still open.2.Enter -75000, press CFt.3.Enter 3, n press Nt. This tells or that next three cash۞- flows are same.4.Enter 40000, n press CFt.5.Press IRR.aL!a/0JBAAnswer:27.75606691837Note: An internal rate of return may not always exist or re may be more than one. This is particularly true if a cash outflow occurs at beginning of project again at end of project. For this reason, some care should be used internal rate of return analysis.~H>aH8BJPB!s!.+<c!H!!!$JBThe cost of capital is interest paid on financing. It should be a of cost of debt, cost of equity, risk of project.22!3>UNEVEN CASH FLOWS/2/("JB </>NJB!+, The uneven cash flow keys are used in conjunction c M You always need to begin first of project. Generally this will be initial outlay. If re is not cash flow in first you need to enter 0. You also need to make sure you enter a cash flow for every , even if it is 0.ExampleEnter following cash flowsYJPB!s!CF(0)= -50,000 cash outflows are negativeCF(1)= 25,000CF(2)= 0CF(3)= 30,000Entering information1.Press CA to all s or #All if cash flow dialog box is open.2.Enter -50000, n press CFt. This will bring up cash flow dialog box.3.Enter 25000, n press CFt.4.Enter 0, n press CFt.5.Enter 30000, n press CFt.26JB If you have consecutive cash flows which are equal, you don't have to enter each cash flow separately.ExampleEnter following cash flows.U>NJPB!sCF(0)= 0CF(1) - CF(5)= 20,000 note re are 5 cash flowsCF(6)= 15,000DP*&JBEnte?ѧring informationP6>JPB!s!1.Press CA or #All if cash flow dialog box is open.2.Enter 0, n press CFt.3.Enter 5, n press Nt. This tells or that next 5 cash flows are same.4.Enter 20000, n press CFt. Note that CF(1) through CF(5) show up in dialog box a of 20000.5.Enter 15000, n press CFt.In dialog box re are four buttons which can be used to edit cash flows.JPJ9DJPBAS~NFunctionRback to main or.LoadLEnter currently selected cash flow into 's .DeleteDDelete currently selected cash flow from box.#AllCDelete all cash flows from box. This must be done before a new set of cash flows can be .NSJN9DJPB!s!+,~cM0N0!r9USING CLIPBOARD0-00)$JB j0j..JBThe can be used to supply ed to any which makes use of &.To copy in 's to &: Choose Copy from 7`.To paste a from 'to 's : Choose ofrom 7`.Most s on 'will be interpreted as if y were on keyboard. The following is a description of some special s.j38JPB~Characternd Text Meaning:When placed before a as part of a control key sequence. For instance, :E is same as CTRL + E.{Clears plus all s except s. It is equivalent of CA or ESC key.}Clears or last entry. It is equivalent to C-CE or Delete key. If two } occur in a row, it will all operations since last equal.00!13EAR'S AND APR'S.00.("JB/ .:FJB/& An annual percentage rate (APR) is defined as interest rate multiplied by of compounding s. Therefore, if interest is compo<ޮunded monthly APR is monthly rate times 12. This is rate that must be quoted by law.An effective annual rate (EAR) takes into account interest paid on interest. This implies that if interest is compounded more than once a year, n EAR will be greater than APR.Converting from an APR to an EARExample14JB/Suppose you are given a loan an APR of 13% compounded monthly. What interest rate are you effectively paying per year?Entering information ing APR14JPB!s!1.Press CA to all s.2.Enter 12, n press n. This tells or how many compounding s to use.3.Enter 13, n press APR.4.Press n press EFF.MM14JPB!sAAnswer:13.80324816139M:FJBA Converting from EAR to APRExampleYou are told you are effectively earning 10% on your money that compounding occurs daily. What is APR?Entering information ing APRW14JPB!s!1.Press CA.2.Enter 365, n press n.3.Enter 10, n press EFF.4.Press APR.II..JPB!sAAnswer:9.532262476476kQIk' JBANote if compounding is one year, EAR APR will be equal.5k5!o 0ACCUMULATED INTEREST?45?)$JBA ulated Kw?14JBA With it is very easy to e how much interest how much principal is paid during a given set of payments on a loan. First you need to enter appropriate information into n, i, mAj. Then you enter beginning ending for set of payments you are interested in. Finally, you use ACC key to bring up accumulated principal accumulated interest.ExampleYou have a home mortgage following istics: Original loan amount = $75,000; Krate = 10% compoundved monthly; 30-year fixed rate. You are starting on your fifth year of payments you wish to know what your total interest principal payments will be this year.M M/0JBADetermining variables7M]JPB!s!PV= 75,000FV= 0n= 30 * 12 = 360i= 10 / 12 = .8333333333333j= this will be computedP1= 4 * 12 + 1 = 49 This is first payment in year 5. If ions for P1 P2 don't make sense to you, write out what payments occur in each year beginning year 1.P2= 5 * 12 = 60uRu/0JBEntering information ing accumulated interest principalqauq;HJPB!s!1.Press CA to all s.2.Enter 75000, n press PV.3.Since we ed s, FV is already 0.4.Enter 360, n press n.5.Enter 10 / 12 = , n press i.6.Press n press j. Now all information is available in se s.7.Enter 49, n press P1/P2.8.Enter 60, n press P1/P2.9Press ACC.HqH..JPB!sAAnswer:620.925026914H,*JPB!s!10.Notice that SUM-PRN appears in box next to . This tells us that in is sum of principal payments.11.Press ACC again.OO26JPB!sAAnswer:7277.219103885O*&JPB!s!12.Notice that SUM-INT appears in box next to . This tells us that in is total interest paid during this set of s.,,)$JPB!sAJW,J9DJPB!s!2~P- J-!,+AMORTIZATION0#-0)$JB PjP0v9DJB The AMRT in conjunction n, i, mAkmake it very easy to set up an amortization schedule.ExampleYour car loan has followiBng istics: Original loan amount = $20,000; Krate = 11% compounded monthly; 4 year fixed rate. What is amortization table for this loan?Determining variablescvNnJPB!s!PV= 20,000FV= 0n= 4 * 12 = 48i= 11 / 12 = .9166666666667j= will be computedcDc+(JBEntering information ing amortization table[Qc[7@JPB!s!1.Press CA to all s.2.Enter 20000, n press PV.3.Since we ed s, FV is already 0.4.Enter 48, n press n.5.Enter 11 / 12 = , n press i.6.Press n press j. Now all information is available in se s.7.Press AMRT. The amortization table appears in a .[*&JBWhile in amortization , you are able to edit table by clicking mouse anywhere in table. Thus you are able to add an appropriate title or possibly payment dates.From amortization , amortization table can be printed to default printer, saved to a file, or selected areas of table may be copied to for pasting into other s.The amortization will interest rate per an APR monthly compounding if of s is divisible by 12. Otherwise, it will just give rate user needs to provide APR in table. The table also tells you whether you are working an ordinary annuity or an annuity due.("JBAn amortization table may also be ed for you are depositing money towards a desired future , for example solving for a retirement fund.YhY9DJPB!s!1~ulated Kw5Y5! 0.ACCOUNTING FUNCTIONS0-50)$JB 0vD0HbJB45 This can be useful in determining selling price, margin, mark -up, or cost, particularly in retail.DeterGmining selling priceExampleYou want to know what selling price of a T-shirt should be if cost is $6 usual mark-up is 110%.Entering information ing selling price14JPB!s!1.Press CA to all s.2.Enter 6, n press CST.3.Enter 110, n press MU. Note MU (and R) are always as a percent.4.Press n press SEL.RR6>JPB!sA Answer:12.6ExampleR02JB{Suppose you generally have a margin of 40%. If cost of a pair of sunglasses is $24, what should selling price be?Entering information ing selling pricei14JPB!s!1.Press CA.2.Enter 40, n press R.3.Enter 24, n press CST.4.Press n press SEL.==..JPB!sAAnswer:40=:FJBA Determining TExampleSuppose you sell a brass picture frame for $14.40 it cost you $6. What is your margin?Entering information ing marginj14JPB!s!1.Press CA.2.Enter 14.4, n press SEL.3.Enter 6, n press CST.4.Press n press R.II..JPB!sAAnswer:58.33333333333I:FJBA Determining mark-upExampleSuppose you sell a crystal vase for $24 it cost you $10. What is your mark-up?Entering information ing mark-uph14JPB!s!1.Press CA.2.Enter 24, n press SEL.3.Enter 10, n press CST.4.Press n press MU.>>..JPB!sAAnswer:140>:FJBA Determining costExampleYou are looking at a wicker basket which sells for $12. If you know that store a mark-up on wicker of 140%, what was ir cost?Entering information ing costXXXXXXXX i14JPB!s!1.Press CA.2.Enter 12, n press SEL.3.Enter 140, n press MU.4.Press n press CST.MM5<JPB!sA Answer:5ExampleM14JBAYou know that a car dealer prices his cars a margin of 15%. If sticker price is $12,500, what is his cost?Entering information ing costl14JPB!s!1.Press CA.2.Enter 15, n press R.3.Enter 12500, n press SEL.4.Press n press CST.>>-,JPB!sAAnswer:10625!>!!|[?![%JBAUis percent of selling price that is "profit."![!!!%JBAWdetermines how much selling price will be above cost. i.e. If mark-up is 100%, n selling price will be twice as much as cost.11!8MEMORY REGISTERS;"1;)$JBA Working ^s2;2+(JBAThe provides you five s where you can store a for use in future. To store a in a first press STO n press button for you want. For example, if you want to store in 1, you would press STO M1. The in will replace currently in .You can add in to a in one of s. This is done by first pressing M+ n pressing appropriate .To retrieve a from a , just press button. For example, if you want to use in 1, just press M1.828!8:PERFORMING CALCULATIONS;8;)$JBA Performing ;02JBAYou will find easy to use. With a mouse you just press mouse button on or buttons. The can also be used out a mouse by using keyboard equivalents. For a list of keyboard equivalents see Nboard. yIf you wish to use numeric keypad to enter s operators make sure that Num Lock is turned on.To enter ions, do following:bb14JPB!s!1.Enter ion's first . The will show as you enter it. If you need to change use BACK to erase last few digits, one at a time, or use C-CE to whole .2.Enter ion's first operator.3.Enter next .4.Continue s operators, n press =. The answer will be ed.KWbK' JBThe does know order of operations. This means it will multiply divide before it will add subtract. It will also do root, inverse, percent, log, power, factorial, exponential, d before it will multiply or divide. This is sometimes important to remember your ions.6K6!67ADVANCED CALCULATIONS0"60)$JB 026JBThe has many advanced s besides its business statistical s. They are not difficult to use, however, examples are presented below for each advanced .RootWhat is root of 10?YJPB!s!Enter 10, n press SQRT. The should show 3.162277660168.pWhat is 15 as a percent?Enter 15, n press %. The should show 0.15.InverseWhat is inverse of 12?Enter 12, n press 1/x. The should show .08333333333333ExponentialWhat is exp(.75)? Enter .75, n press e^x. The should show 2.117000016613.Natural LogarithmWhat is natural log of 5?Enter 5, n press ln. The should show 1.609437912434.Z-fLjJPB!s!FactorialWhat is 6 factorial?Enter 6, n press n!. The should show 720.PowerWhat is 6 raised to 7 power?Enter 6, press y^x, enter 7, n press =. The should show 279936.dWhat is 24 d?Enter 24, n press x^2. The @should show 576.5f5!0;/USING STATISTICS BOX.5.("JB :.:6>JB:;The can perform some fairly sophisticated statistical procedures a minimum of effort on your part. When you decide you wish to do a statistical analysis of a set of first thing you need to do is turn on statistics mode. To do this you press STAT. This will bring up a dialog box which will show s as you enter m. For examples on see f .The dialog box has four buttons which allow you to edit s. The following is a list of button, its keyboard equivalent, its .*:*' JB*:FJPBAS~NFunctionRback to main or.LoadLEnter currently selected x from statistics box into .DeleteDDelete currently selected from statistics box.#AllCDelete all from statistics box.J]J9DJPB!s!:;~f8J8!o7;ONE VARIABLE STATISTICS0&80)$JBi f0:FJBi One variable statistical analysis will e mean standard deviation of a set of s. It makes assumption that s are normally distributed.ExampleYou are a teacher you want to know mean standard deviation of a group of test scores. You have following set of scores: 99, 96, 87, 75, 68, 78, 98, 66, 72, 84.Entering information ing mean standard deviation<%<38JPB!s!1.Press STAT. This will bring up statistics dialog box.2.Enter 99, n press DATA. Notice in statistics box that 99 appears as first .3.Enter 96, n press DATA.4.Enter rest of scores in same way.5.Press Mx. This will mean score.?<R..JPB!sAAnswer:82.3XXXXXXX OR+(JPB!s!6.Press pSx. This will give standard deviation assuming this group of scores is whole population. In other words, sum of s is divided by n. This estimator is unbiased.II..JPB!sAAnswer:11.77327482054I+(JPB!s!7.Press Sx. This will give standard deviation assuming this group of scores is a from population. In other words, sum of s is divided by n-1. This estimator has lowest mean error.II..JPB!sAAnswer:12.41012131734JWIJ9DJPB!s!;9~+ J+! :9REGRESSION0(+0)$JB c>0c26JB This is used primarily to determine what kind of relationship re is between two different variables.ExampleYou want to know if re is a relationship between how your students score on first exam how y score on second exam. Given following sets of scores, do statistical analysis.ceJBStudentExam 1Exam 2199902968338794475765686067887798978667197279108483Entering information doing analysis454@RJPB!s!1.Press STAT. This brings up statistics dialog box.2.Enter 99, n press (x,y). This enters first test score as (x) variable.3.Enter 90, n press DATA. This enters second test score as (y) variable. Notice that x y variables now appear in statistics dialog box.4.Enter rest of in same manner.5.Press Mx. This gives mean of first exam scores. The should show 82.3.6.Press My. This gives mean of second exam scores. The should show 82.4@RJPB!s!7.Press pSx. This gives standard deviation of first exam scores assuming y are whole population. This implies that sum of s is divided by n. This is an unbiased estimator. The should show 11.77327482054.8.Press pSy. This gives standard deviation of second exam scores assuming y are whole population. The should show 10.53565375285.9.Press Sx. This gives standard deviation of first exam scores assuming y are a of population. This implies that sum of s is divided by n-1. This is estimator lowest mean error. The should show 12.41012131734.@RJPB!s!10.Press Sy. This gives standard deviation of second exam scores assuming y are a of population. The should show 11.10555416597.11.Press R. This gives correlation between two test scores. A close to 1 implies strong positive correlation a close to -1 implies strong negative correlation. The should show .7965227297398.12.Press a. This gives y-intercept if we were to draw a line through s. The should show 23.33727725272.ATJPB!s!13.Press b. This gives slope of line. The should show .7127912849001.14.Enter 90, n press Y'. This gives estimated of second exam score if first exam score is 90. The should show 87.48849289373.15.Enter 85, n press X'. This gives estimated of first exam score if second exam score is 85. The should show 86.50880566802.:)$JBx^2, y^2, xy are used in ing s above. If you wish to know of sum of x d n press x^2. If you wish to know of sum of y d n press y^2. If you wish to know of sum of x times y n press xy.~FFF8BJPB!s!:9f, F,!FORMAT MENU6,B("JB Format `6bB6&JBThe allows you to set of decimal places that are ed. Choose Format:Decimal Places from menu bar. Select of decimal places you wish to press OK. If automatic is , will most accurate of decimal places. Automatic is default setting.!6!!tS3!S&JBg is rate at which payments grow per .2S2!.,GROWING ANNUITIES>2>("JB Growing AnnuitiesiF>i<JJB Calculating sExampleYou are thinking of buying a security which will make 5 annual payments beginning 1 year from today. The first payment is $1000 payments will grow at 6% per year. If market rate of interest is 10%, what is present of security?Determining variables6i]JPB~!%$="n= 5FV= 0j= 1000g= 6i= 10N/N)$JBEntering information ing PV,N,)$JPB~,7@JPB!s!1.Press CA to all s.2.Enter 5, n press n.3.Since we ed s, FV is already 0.4.Enter 1000, n press j.5.Enter 6, n press g.6.Enter 10, n press i.7.Press n press PV.u7u>NJPB!sA' Answer:4,226.680095125Annuity DuesExampleu/0JBLook back at example above. Assume that first payment occurs today instead of in 1 year.Determining variables_U|JPB~n= 5FV= 0j= 1000g= 6i= 10Entering information ing PV ,6>JPB!s!1.Press CA to all s.2.Enter 5, n press n.3.Enter 1000, n press j.4.Enter 6,l n press g.5.Enter 10, n press i.6.Press BGN to tell or that payment occurs at beginning of .7.Press n press PV.,,,)$JPB~H,H-,JPBAS~AAnswer:4,649.348104638,H,)$JPB~`,;HJPB!s! 8.Press BGN to return or to normal mode.Calculating Future Example# #&JBYou have just left an old job received $10,000 in pension benefits. To avoid taxes you have decided to have money deposited in your new employers pension fund. In addition, 5% of your annual income will be deposited into fund at end of each year, beginning 1 year from today. The first payment is based on a salary of $35,000 is expected to grow at an annual rate of 4%. The fund earns 12% per year. If payments will be made for 15 years, how much money will you have in fund in 15 years?L #L..JBDetermining variablesGLQtJPB~#n= 15PV= 10,000j= 35,000 * .05 = 1750g= 4i= 12P0P*&JBEntering information ing FVP7@JPB!s!1.Press CA.2.Enter 15, n press n.3.Enter 10,000, n press PV.4.Enter 1750, n press j.5.Enter 4, n press g.6.Enter 12, n press i.7.Press n press FV.JJ..JPBAS~AAnswer:135,074.2693934JATJB To e future first payment occurs at beginning of , press BGN before computing FV.Calculating PaymentsExampleYou wish to have $20,000 in 10 years. You plan on making your first deposit in 1 year will increase your deposits by 5% per year. If money will earn 8% interest, how much do you need to deposit in 1 year?Determining variQables2NnJPB~n= 10PV= 0FV= 20,000g= 5i= 8P1P*&JBEntering information ing jP5<JPB!s!1.Press CA.2.Enter 10, n press n.3.Enter 20,000, n press FV.4.Enter 5, n press g.5.Enter 8, n press i.6.Press n press j.JJ..JPBAS~AAnswer:1,132.010604297jJ&>KBIf first payment were to occur at beginning of , you would press BGN before COMP j.!!!  q%#$'(=)*h12M_}``maaZb_cVdp}|lޮvy@OI} .%Helvginning of the Tms Rmnyou would prSymbol before COMP Systempar }par }r }Modernr }\par } \paCG Times (E1). \pa   q22MVdp}|2MMVdVdppp}|}|}|ޮޮޮޮO/&;)i24le-key syntaAnnualized percentage rateAnnuitiesPAPRCFttCommandsDecimal PlacesEAREffective rates|FormatFuture value FV(GrowthiDInterest rate<Internal Rate of returnlIRRpKeyboardn8Net present valueXNPV\NtxNumber of Periods4PaymentsHPMTLPresent Value,ProceduresPV0StatisticsTime Value of MoneyUneven Cash Flows`Yield to Maturity@>RPRPFVv v _RPvv;Fu;Vt~u~t]MXEU؃fVFFVPFVFV^&lp^F&G^FV&G&WvvvvvvIvv;F^&GÌRPvv&w&wFV^&9Ww1r&9Gs)vv+FF^&G&WFV&G^&F&GFFFV&,u!r&*s&G*^&FV$^&G*&W, ^&&WFVFV^&0u!r&.s&G.^&FV$^&G.&W0 ^&&WFVFV^&s&G^&FV@^&G ^&FVFV^& s&G ^&FV@^&G ^&FVFV^&u!r&s&G^&FV$^&G&W ^&&WFVFV^&u!r&s&G^&FV$^&G&W ^&&WFVFV^&4u!r&2s&G2^&FV$^&G2&W4 ^&&WFVFV^&8u!r&6s&G6^&FV$^&G6&W8 ^&&WFVFV~ur~sF^&FVFV ^&&WFVFV^& u!r& s&G ^&FV$^&G &W ^&&WFVFVFP^&G2&W4fF'dVRP4FV^&&WFFFV-FZ:G & G u+FV^&&WFVFvvFPFPRvRPm^&G2& G4t%vvÌ:RP&G2&W4ǟRPF Fuvv^&GÌRP vvvvvv˨^&G & G tvv&GÌRP&w &w F Ftvv<FF9F}D^v &&PFVP^&G&W/&;)Lzmplete line i$7$ INDEXPROCEDURESqKEYBOARDCOMMANDSFINANCIAL FUNCTIONS%MEMORY FUNCTIONSSTANDARD CALCULATOR FUNCTIONSSTATISTICAL FUNCTIONS#FILE MENU$APPLICATIONS CONTROL'EDIT MENU(COPY=)PASTE*VIEW MENUh1TIME VALUE2FUTURE VALUEMPRESENT VALUEVdNUMBER OF PERIODSpINTEREST RATE}|PAYMENTSNET PRESENT VALUEINTERNAL RATE OF RETURNUNEVEN CASH FLOWSlUSING CLIPBOARDޮEAR'S AND APR'SvACCUMULATED INTERESTAMORTIZATIONACCOUNTING FUNCTIONSMEMORY REGISTERSyPERFORMING CALCULATIONS@ADVANCED CALCULATIONSUSING STATISTICS BOXOONE VARIABLE STATISTICSREGRESSIONFORMAT MENUGROWING ANNUITIES3һŠE D 2u 2T MD.'QU Ã=2u à Ã>...... Ë>;t  t2x놋Ƌ߃r냋~+|=C~/URu2y݋M]} x`URQ2֜譋Эȭح3 tp| tыˋ3wtSr)|3 tĊ╊֊͊ߊ2wt(Fu?t ΋?tXx"L\|ss@+L\|s3XPU2R@P"3ۋˋ t  tU3 tU t ڃD t t ڃX P3ɋ tU t D tU t D t t X P3ۋ t eʃD tU t ʃD tU t ʃD t ʃՁ?X P3RD t eڃD tU t ڃDU t ڃQ3ɋD t eDU t DeY]ыˋX t^2URVW_^譋ȭحЭ3r EU>JW@W<W8r";Tu ;Du;\u; s 2Y[_^Q63;sb u;wARS3 tP tꡜ t[+[]蕒sOsO+‹ɐ u t ًʋ3Ë>X]uNJ݊Ί򗕊Ԋ2uxNte ͊ tD rrwr't"XPr rXPr sF3Ջʊ