Display the CURRX menu Select HK$ as currency #1 Select US$ as currency #2 Store the RATE

0.1282

Converting Between Two Currencies
Once the currencies are selected and a RATE has been entered, you can convert any number of units of one currency to the other. Example : Converting between Hong Kong and U.S Dollars. Part 1: Use the exchange rate stored in the previous example to calculate how many U.S dollars you would receive for 3,000 Hong Kong Dollars.
Store number of HK$ Calculates equivalent US$
Part 2: A wool sweater in a shop window costs 75 US$. What is its cost in HK$ Dollars?
Store number of US$ Calculates equivalent HK$
Storing and Recalling Sets of Currencies
Pressing or displays the C.STO/C.RCL menu, which is used to store and recall sets of currencies and the rates. The menu can store up to six sets of currencies. Initially, the menu contains six blank labels. Storing Sets of Currencies. To store the current set of currencies and the rate, press. Then, press any menu key to assign the set to that key. For example, storing the currencies in the previous example stores currency #1 = HK$, currency #2 = US$, and RATE = 0.1282. ( The values US$ = 75 and HK$ = 585.02 are not stored.)
Recalling Sets of Currencies. To recall a stored set of currencies and their exchange rate, press , followed by the appropriate menu key. The hp 17bII+ automatically returns to the CURRX menu. The equivalency message and menu labels show the recalled currencies and RATE.
Clearing the Currency Variables
Pressing @c while the CURRX menu is displayed sets the RATE to 1.0000. The values of the two current currencies are cleared to 0.

Time Value of Money

The phrase time value of money describes calculations based on money earning interest over a period of time. The TVM menu performs compound-interest calculations and calculates (and prints) amortization schedules. In compound interest calculations, interest is added to the principal at specified compounding periods, thereby also earning interest. Savings accounts, mortgages, and leases are compound-interest calculations. In simple interest calculations, the interest is a percent of the principal and is repaid in one lump sum. Simple interest calculations can be done using the % key (page 40). For an example that calculates simple interest using an annual interest rate, see page 190.

Number of payments amortized at one time
Current set of payments to be amortized

Press to see results

8.To display the results, press, , and (or press to view the results from the stack).
9. To continue calculating the schedule for subsequent payments, do a or b. To start the schedule over, do c. a. To calculate the next successive amortization schedule, with the same number of payments, press.
Next successive set of payments authorized
To calculate a subsequent schedule with a different number of payments, key in that number and press. To start over from payment #1 (using the same loan information), press @c and proceed from step 7.
Example: Displaying an Amortization Schedule. To purchase your new home, you have taken out a 30-year, $65,000 mortgage at 12.5% annual interest. Your monthly payment is $693.72. Calculate the amount of the first years and second years payments that are applied toward principal and interest. Then calculate the loan balance after 42 payments (3 years).
Displays TVM menu. Stores annual interest rate. Stores loan amount. Stores monthly payment. If needed: sets 12 payment periods per year; End mode. Displays AMRT menu.

65000 693.72

Calculates amortization schedule for first 12 payments, but does not display it.
Displays interest paid in first year. Displays principal paid in first year. Displays balance at end of first year. Calculates amortization schedule for next 12 payments.
Displays results for second year.
To calculate the balance after 42 payments (3 years), amortize 18 additional payments (422418): 18 Calculates amortization schedule for next 18 months.

Displays results.

Printing an Amortization Table (TABLE)
To print an amortization schedule (or table) do steps 1 through 5 for displaying an amortization schedule (see page 78). 6. Press. 7. Press. 8. Key in the payment number of the first payment in the schedule and press. (For instance, for the very first payment, FIRST= 1.) 9. Key in the payment number of the last payment in the schedule and press. 10.Key in the incrementthe number of payments shown at one timeand press. (For instance, for one year of monthly payments at a time, INCR=12.) 11.Press. , Ignore the message
Values are retained until you exit the TABLE menu, so you can print successive amortization schedules by re-entering only those TABLE values that change. Example: Printing an Amortization Schedule. For the loan described in the previous example (page 80), print an amortization table with entries for the fifth and sixth years. You can continue from the AMRT menu in the previous example (step 7, above) or repeat steps 1 through 6. Starting from the AMRT menu:

effective interest rate based on your payment periods. Last, convert the effective rate to the nominal rate based on the banks compounding periods. Example: Balance of a Savings Account. Starting today, you make monthly deposits of $25 into an account paying 5% interest compounded daily (365-day basis). At the end of 7 years, how much will you receive from the account?
Periodic interest-rate conversion menu. Stores banks compounding periods. Stores banks nominal interest rate. Calculates effective interest rate for daily compounding. Stores number of deposits per year. Calculates equivalent nominal interest rate for monthly compounding.

ee < s

Switches to TVM menu; NOM% value is still in calculator line. Stores adjusted nominal interest rate in I%YR.
Sets 12 payments per 12 e year; Begin mode.

@ 25&

Stores 84 deposit periods, $25 per deposit, and no money before the first regular deposit. Value of account in 7 years.
If the interest rate were the unknown, you would first do the TVM calculation to get I%YR (5.01). Then, in the ICNV PER menu, store 5.01 as NOM% and 12 as P for monthly compounding. Calculate EFF% (5.13). Then change P to 365 for daily compounding and calculate NOM% (5.00). This is the banks rate.

Cash Flow Calculations

The cash flow (CFLO) menu stores and analyzes cash flows (money received or paid out) of unequal (ungrouped) amounts that occur at regular intervals.* Once youve entered the cash flows into a list, you can calculate: The total amount of the cash flows. The internal rate of return (IRR%). The net present value (NPV), net uniform series (NUS), and net future value (NFV) for a specified periodic interest rate (I%). You can store many separate lists of cash flows. The maximum number depends on the amount of available calculator memory.

The CFLO menu

The CFLO menu creates cash-flow lists and performs calculations with a list of cash flows.
* You can also use CFLO with cash flows of equal amounts, but these are
usually handled more easily by the TVM menu.
7: Cash Flow Calculations
Table 7-1. CFLO Menu Labels Menu Label Description
Accesses the CALC menu to calculate TOTAL, IRR%, NPV, NUS, NFV. Allows you to insert cash flows into a list. Deletes cash flows from a list. Allows you to name a list. Allows you to switch from one list to another or create a new list. Turns the prompting for #TIMES on and off.
To see the calculator line when this menu is in the display, press I once. (This does not affect number entry.) To see this menu when the calculator line is in the display, press
The sign conventions used for cash flow calculations are the same as those used in time-value-of-money calculations. A typical series of cash flows is one of two types: Ungrouped cash flows. These occur in series of cash flows without groups of equal, consecutive flows.* Because each flow is different from the one before it, the number of times each flow occurs is one.

Displays DEPRC menu. Stores known values.
Calculates depreciation for year 3. Stores 1 months depreciation from year 3. Calculates depreciation for year 4. Figures 11 months depreciation from year 4. 1= Figures total depreciation for year 4.

12= s 1

4 11/ 12 =

120 9: Depreciation

Running Total and Statistics
The SUM menu stores and statistically analyzes sets of numbers. As you enter the numbers, the calculator displays their running total. Once youve entered the numbers into a list, you can: Calculate the mean, median, standard deviation, and range. Display the largest and smallest number in the list. Sort the list from smallest number to largest number. With two lists of numbers, you can: Do curve-fitting and forecasting calculations using two SUM lists and one of four modelslinear, exponential, logarithmic, and power. (Curve fitting for the linear model is called linear regression.) Calculate the weighted mean and grouped standard deviation. Find the summation statistics (x, x2, y, y2, xy). You can store many separate lists of numbers in SUM. The maximum number depends on the amount of available calculator memory.
10: Running Total and Statistics 121

The SUM Menu

MEDN STDEV

RANGE MORE

The SUM menu creates lists of numbers and performs calculations with a SUM list.
Table 10-1. SUM Menu Labels Menu Label Description
Accesses the CALC menu to calculate the total, mean, median, standard deviation, range, minimum, maximum, sorting, and linear regression (including weighted mean and summation statistics). Allows you to insert numbers into the list. Deletes numbers from the list. Allows you to name the list. Allows you to switch from one named list to another or to create a new list. Displays the total of all the items in the list.
122 10: Running Total and Statistics

Creating a SUM List

To keep a running total of a list of numbers or do statistical calculations with sets of data, first create a SUM list of the values.
Entering Numbers and Viewing the TOTAL
To enter numbers into a SUM list: 1. Press. Youll see if the current list is empty, or 2 or more if the list is not empty. This is the bottom of the current list.
2. If the list is empty, start filling it (step 3). If the current list is not empty, you can do either a or b: a. b. Clear the list by pressing 127.)

@c (see also page

Get a new list by pressing (The old list must be named first. Press or see page 126.)

To set the time: 1. Press to display the SET menu. 2. Key in the correct time in the current format ( or indicates the 12-hour clock). For example, for 9:08:30 p.m. enter 9.0830 in a 12-hour clock or 21.0830 in a 24-hour clock. 3. Press to set the new time. 4. For 12-hour format: press to switch between AM and PM. To set the date: 1. Key in the correct date in the current format. For example, for April 3, 2003 enter 4.032003 in month/day/year format or 3.042003 in day.month.year format. 2. Press.
11: Time, Appointments, and Date Arithmetic 143
Example: Setting the Date and Time. Set the date and time to April 5, 2003, 4:07 p.m.

4.052003

time xx
Displays SET menu. Sets date. Sets time. Press if necessary.
Changing the Time and Date Formats (SET)
Use the SET menu to change the time and date formats. To switch between the 12- and 24-hour clocks, press. To switch between the month/day/year and day.month.year calendars, press.
Adjusting the Clock Setting (ADJST)
The ADJST menu adjusts the time setting forward or backward in increments of hours, minutes, or seconds. 1. Press . 2. Press the appropriate menu key(s) until the correct time is displayed. For example, if the current time setting is 11:20:xx AM (ignoring seconds), pressing twice changes the time to 1:20 PM. Then, pressing three times changes the time to 1:17 PM.
144 11: Time, Appointments, and Date Arithmetic

Appointments (APPT)

You can record up to ten appointments, each with an alarm. An appointment can contain a message. You can also create repeating appointmentsappointments that recur at regular intervals.

for each appointment

DATE TIME A/PM MSG RPT HELP
Viewing or Setting an Appointment (APT1-APT10)
Table 11-3. Menu Labels for Setting Appointments Menu Label Description
Sets the appointment date. Sets the appointment time, and automatically enters the current date (if the existing appointment date was in the past). Sets AM or PM for 12-hour clock. Displays the ALPHA menu and any existing message. Displays the existing repeat interval and the menu for changing the repeat interval.
Displays the format for entering the date and time.

PV = the loan amount. I% = the periodic interest rate. DAYS = the actual number of days until the first payment is made. PMT = the periodic payment. N = the total number of payment periods. FV = the balloon payment. A balloon payment occurs at the end of the last (Nth) period and is in addition to any periodic payment.
The following examples assume that you have entered the equation named ODD, above, into the Solver. For instructions on entering Solver equations, see Solving Your Own Equations, on page 29. Example: Loan with an Odd First Period. A 36-month loan for $4,500 has an annual interest rate of 15%. If the first payment is made in 46 days, what is the monthly payment amount? Select equation ODD in the Solver.
Creates menu. 36 payment periods. Stores loan amount. Stores periodic, monthly

v15 / 12

* You do not need to specify Begin or End mode. If the number of days until the
first payment is less than 30, Begin mode is assumed. If the number of days until the first payment is between 30 and 59, inclusive, End mode is assumed.
196 14: Additional Examples
interest rate. Stores days until first payment. No balloon payment. Calculates payment.
Example: Loan with an Odd First Period Plus Balloon. A $10,000 loan has 24 monthly payments of $400, plus a balloon payment of $3,000 at the end of the 24th month. If the payments begin in 8 days, what annual interest rate is being charged? Select equation ODD.
Creates menu. Stores known values.

& 3000 &

Calculates periodic (monthly) interest rate. Annual interest rate.

v * 12 =

Canadian Mortgages
In Canadian mortgages, the compounding and payment periods are not the same. Interest is compounded semi-annually while payments are made monthly. To use the TVM menu in the hp 17bII+, you need to calculate a Canadian mortgage factor to store as I%YR. 1. Set End mode and store 12.
14: Additional Examples 197
2. Store 0 , 6 , and 200. 3. Add 200 to the annual interest rate, make the number negative, and store it in. 4. Press to calculate the Canadian mortgage factor. 5. Continue the problem by supplying the other mortgage values and solving for the unknown item. Do not change I%YR from step 4. Example: Canadian Mortgage. What is the monthly payment required to fully amortize a 30-year, $30,000 Canadian mortgage if the interest rate is 12%?

208 14: Additional Examples

Displays TVM menu.

Sets 1 payment per year 1 e and Begin mode. 35 Stores years until retirement. Calculates and stores interest rate diminished by tax rate. Stores no present value. Stores annual payment. Calculates future value. Calculates present-value purchasing power of the above FV at 8% inflation.

v8.175 - 28 % v

0 3000
Modified Internal Rate of Return
When there is more than one sign change (positive to negative or negative to positive) in a series of cash flows, there is a potential for more than one IRR%. For example, the cash-flow sequence in the following example has three sign changes and hence up to three potential internal rates of return. (This particular example has three positive real answers: 1.86, 14.35, and 29.02% monthly.) The Modified Internal Rate of Return (MIRR) procedure is an alternative that can be used when your cash-flow situation has multiple sign changes. The procedure eliminates the sign change problem by utilizing reinvestment and borrowing rates that you specify. Negative cash flows are discounted at a safe rate that reflects the return on an investment in
14: Additional Examples 209
a liquid account. The figure generally used is a short-term security (T-bill) or bank passbook rate. Positive cash flows are reinvested at a reinvestment rate that reflects the return on an investment of comparable risk. An average return rate on recent market investments might be used. 1. In the CFLO menu, calculate the present value of the negative cash flows (NPV) at the safe rate and store the result in register 0. Enter zero for any cash flow that is positive. 2. Calculate the future value of the positive cash flows (NFV) at the reinvestment rate and store the result in register 1. Enter zero for any cash flow that is negative. 3. In the TVM menu, store the total number of periods in N, the NPV result in PV, and the NFV result in FV. 4. Press to calculate the periodic interest rate. This is the modified internal rate of return, MIRR. Example: Modified IRR. An investor has an investment opportunity with the following cash flows:
Group No. of Months (FLOW no.) (#TIMES)

Cash Flow, $

180,000 100,000 100,200,000
Calculate the MIRR using a safe rate of 8% and a reinvestment (risk) rate of 13%.
Displays current cash-flow list. Clears current list or gets a
210 14: Additional Examples
new one. Stores initial cash flow,

180000 &

FLOW(0).
Stores FLOW(1) as zero since the flow amount is positive.

5I 100000 &

PRICE = the purchase price per $100 face value. YIELD = the yield as an annual percentage. RV = the redemption value per $100. DISC = the discount rate as a percent. SETT = the settlement date (in current date format). MAT = the maturity date (in current date format).
216 14: Additional Examples
The following example assumes that you have entered the NOTE equations into the Solver. For instructions on entering Solver equations, see Solving Your Own Equations, on page 30. Example:Price and Yield of a Discounted Note. What are the price and yield of the following U.S. Treasury Bill: settlement date October 14, 2003; maturity date March 17, 2004; discount rate 8.7%? (Assume month/day/year format.) Select the NOTE:PRICE equation in the Solver.

10.142003

3.172004

8.7 100

Calculates price. Displays NOTE:YIELD equation, then its menu. Calculates yield.

Statistics

Moving Average
Moving averages are often useful in predicting trends in data taken over a period of time. In moving-average calculations, a specified number of points is averaged. Each time a new point is acquired, the oldest point is discarded. Thus, the same number of points is used in each calculation.
14: Additional Examples 217
A Solver Equation for Moving Averages: name
N = the number of values averaged in each calculation. LAST = the item number of the most recent value to be averaged. name = the name of the SUM list whose data will be averaged. When you create and name the SUM list, make sure its name matches the name in the Solver equation.
The following example assumes that you have entered the equation MAVG into the Solver, using VOL for the SUM lists name. For instructions on entering Solver equations, see Solving Your Own Equations, on page 30. Example: A Moving Average in Manufacturing. Calculate a threemonth moving average for the number of units manufactured during the first half of the year. Manufacturing volumes are: January 4400 February March April 3670 May 4040 June 3200
Displays SUM menu and current list.
Clears current list or gets a new one. Enters data.

I 5360 I 2900 I 3670 I

218 14: Additional Examples
I 3200 I e VOL I e (use ] and [

if necessary)

Displays the MAVG equation. Make sure name is VOL. Displays menu. Stores number of points. Calculates average for months 1, 2, and 3. Calculates average for months 2, 3, and 4. Calculates average for months 3, 4, and 5. Calculates average for months 4, 5, and 6. Names the list VOL.
Chi-Squared ( 2 ) Statistics
The 2 statistic is a measure of the goodness of fit between data and an assumed distribution.* It is used to test whether a set of observed frequencies differs from a set of expected frequencies sufficiently to reject the hypothesis under which the expected frequencies were obtained.
* The statistic can be assumed to be 2 distributed with n1 degrees of freedom

if n or some of the Ei values are large.
14: Additional Examples 219
In other words, it tests whether discrepancies between the observed frequencies (Oi) and the expected frequencies (Ei) are significant, or whether they might reasonably result from chance. The equation is:

(Oi E i )2

If there is a close agreement between the observed and expected frequencies, 2 will be small. If the agreement is poor, 2 will be large. Solver Equations for 2 Calculations: If the expected value is a constant: name1 name1 If the expected values vary: name1 name1 name2 name2 (To enter the character, press .)
CHI2 = the final 2 value for your data. name1 = the name of the SUM list that contains the observed values. name2 = the name of the SUM list that contains the expected values. EXP = the expected value when it is a constant.
When you create and name the SUM list(s), make sure the name(s) match name1 (and name2, if applicable) in the Solver equation. To solve the equation, press message ).
once or twice (until you see the
The following example assumes that you have entered the CHI equation into the Solver, using OBS for name1. For instructions on entering Solver equations, see Solving Your Own Equations, on page 30. Example: Expected Throws of a Die. To determine whether a suspect die is biased, you toss it 120 times and observe the following results. (The expected frequency is the same for each number, 120 6, or 20.)
220 14: Additional Examples
Number Frequency Observed

Keystroke:

Displays SUM menu and current list. Clears current list or gets a new one. Enters observed values.
I 17 I 15 I 23 I 24 I 16 I e OBS I e (use [ and ]

if necessary )

Names the list OBS. Displays the CHI equation. Make sure

name1 is OBS.

Displays menu. Stores expected value. Calculates 2.
The number of degrees of freedom is (n1)5. Consult statistical tables to find 2 to a significance level of 0.05 with 5 degrees of freedom. The
2 table shows that 0.05 ,5 11.07. Since the computed value (5.00) is less

232 A: Assistance, Batteries, Memory, and Service

Warranty

hp 17bII+ Financial Calculator; Warranty period: 12 months 1. HP warrants to you, the end-user customer, that HP hardware, accessories and supplies will be free from defects in materials and workmanship after the date of purchase, for the period specified above. If HP receives notice of such defects during the warranty period, HP will, at its option, either repair or replace products which prove to be defective. Replacement products may be either new or like-new. HP warrants to you that HP software will not fail to execute its programming instructions after the date of purchase, for the period specified above, 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. HP does not warrant that the operation of HP products will be uninterrupted or error free. If HP is unable, within a reasonable time, to repair or replace any product to a condition as warranted, you will be entitled to a refund of the purchase price upon prompt return of the product. HP products may contain remanufactured parts equivalent to new in performance or may have been subject to incidental use. Warranty does not apply to defects resulting from (a) improper or inadequate maintenance or calibration, (b) software, interfacing, parts or supplies not supplied by HP, (c) unauthorized modification or misuse, (d) operation outside of the published environmental specifications for the product, or (e) improper site preparation or maintenance. HP MAKES NO OTHER EXPRESS WARRANTY OR CONDITION WHETHER WRITTEN OR ORAL. TO THE EXTENT ALLOWED BY LOCAL LAW, ANY IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY, SATISFACTORY QUALITY, OR FITNESS FOR A PARTICULAR PURPOSE IS LIMITED TO THE DURATION OF THE EXPRESS WARRANTY SET FORTH ABOVE. Some countries, states or provinces do not allow limitations on the duration of an implied warranty, so the above limitation or
A: Assistance, Batteries, Memory, and Service 233
exclusion might not apply to you. This warranty gives you specific legal rights and you might also have other rights that vary from country to country, state to state, or province to province. 7. TO THE EXTENT ALLOWED BY LOCAL LAW, THE REMEDIES IN THIS WARRANTY STATEMENT ARE YOUR SOLE AND EXCLUSIVE REMEDIES. EXCEPT AS INDICATED ABOVE, IN NO EVENT WILL HP OR ITS SUPPLIERS BE LIABLE FOR LOSS OF DATA OR FOR DIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL (INCLUDING LOST PROFIT OR DATA), OR OTHER DAMAGE, WHETHER BASED IN CONTRACT, TORT, OR OTHERWISE. Some countries, States or provinces do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation or exclusion may not apply to you. 8. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty.HP shall not be liable for technical or editorial errors or omissions contained herein. FOR CONSUMER TRANSACTIONS IN AUSTRALIA AND NEW ZEALAND: THE WARRANTY TERMS CONTAINED IN THIS STATEMENT, EXCEPT TO THE EXTENT LAWFULLY PERMITTED, DO NOT EXCLUDE, RESTRICT OR MODIFY AND ARE IN ADDITION TO THE MANDATORY STATUTORY RIGHTS APPLICABLE TO THE SALE OF THIS PRODUCT TO YOU. SPECIAL STATEMENT: This manual ONLY applies to 17bii+ with a serial number CNA41200001 and upwards. You can check the serial number that is written on the bottom of your calculator.

Store2 x 3 in register 5 Find PV2 Find PV less 2% Find PMT x N 2 &E 3 *s 5

2 &* 3 =s 5

R 2R 2 %R R

R -2= R -2%= R *R =

* Chain CalculationsNo Parentheses!
The speed and simplicity of calculating using RPN are apparent during chain calculationslonger calculations with more than one operation. The RPN memory stack (refer to appendix E) stores intermediate results until you need them, then inserts them into the calculation.

266 D: RPN: Summary

The cube root example and the percentage addition example (previous topics) are two simple examples of chain calculations. For another example, calculate 7 x (12 + 3) Start the calculation inside the parentheses by finding 12 + 3. Notice that you dont need to press E to save this intermediate result (15) before proceeding. Since it is a calculated result, it is saved automaticallywithout using parentheses.

12 E 3 + 7*

Intermediate result. Pressing the function key produces the answer.
Now study these examples. Note the automatic storage and retrieval of intermediate results.

(750 x 12) (750 x 12)

750 E 12 * 360 / 360 E 750 E 12 */ or 750 E 12 * 360 x/ 456 E 75 - 18.5 / 68 E 1.9 /* 3E4+5E6+*
{(45675) 18.5} x (68 1.9) (34) x (56)

D: RPN: Summary 267

RPN: The Stack
This appendix explains how calculations take place in the automatic memory stack and how this method minimizes keystrokes in complicated calculations.

What the Stack Is

Automatic storage of intermediate results is the reason that RPN mode easily processes complicated calculationswithout using parentheses. The key to automatic storage is the automatic RPN memory stack. The memory stack consists of up to four storage locations, called registers, which are stacked on top of each other. It is a work area for calculations. These registers labeled X, Y, Z, and T store and manipulate four current numbers. The oldest number is the one in the T-(top) register.

T Z Y X

0.00 0.00 0.00 0.00

Oldest number

Displayed (most recent number)
The most recent number is in the X-register: This is the number you see in the display.

268 E: RPN: The Stack

Reviewing the Stack (Roll Down)
The ~ (roll down) function (on the ( key) lets you review the entire contents of the stack by rolling the contents downward, one register at a time. While in RPN mode you dont need to press the shift key for ~. The ] key has the same effect as ~. except in a CFLO or SUM list, when ] affects the list and not the stack. Likewise, the [ key rolls the contents of the stack upward, except in lists.

The calculator has insufficient memory available to do the operation youve specified. Refer to Managing Calculator Memory on page 227 for additional information.
One of the following values for interest is less than or equal to100: TVM menu: I%YR P/YR. PER menu: NOM% P (calculating EFF%); EFF% (calculating NOM%). CONT menu: EFF%. CFLO menu: I% (calculating NPV, NUS, or NFV) or estimate of IRR%.
Calculation of I%YR, IRR%, amortization results, a Solver variable, or a SUM-list sort was interrupted.

Error Messages 285

The number entered cannot be interpreted as a proper date. Check its format (page 143). Attempted to set a date outside the range 1/1/2000 through 12/31/2099, or attempted date arithmetic outside the range 10/15/1582 through 12/31/9999.
The Solver cannot interpret the equation due to a syntax error. Refer to What Can Appear in an Equation, page 166. A variables name is invalid. Refer to Names of Variables, page 166.
Attempted to store into a built-in variable a number that is outside the range of values permitted for that variable. The number entered cannot be interpreted as a proper time. The appointments repeat interval is out of range. Attempted to enter a non-integer, negative number when specifying the number of displayed decimal places (in DSP).
Attempted to calculate I%YR with N 0.99999 or N 1010.
Calculation of IRR% produced a negative answer, but the calculator has determined that there is also a unique positive answer. (Refer to page 238.)
The calculator has been reset (page 224, 228).

286 Error Messages

The calculator is unable to calculate I%YR. Check the values stored in PV, PMT, and FV. Make sure the signs of the numbers are correct. If the values of PV, PMT, and FV are correct, the calculation is too complex for the TVM menu. You may be able to perform the calculation using the CFLO menu to calculate IRR%.
The calculation of IRR% is complex, and requires you to store a guess. (Refer to page 238.) Continuous Memory has been erased (page 224, 229). The list name youve attempted to enter is already in use; type in a new name and press I. No solution is possible using the values stored in the current built-in menu or list. This most commonly results from an incorrect sign for a cash flow or other monetary value. (Review page 64.) Attempted to calculate the factorial of a negative or non-integer value. A warningnot an errorthat the magnitude of a result is too large for the calculator to handle, so it returns 9.99999999999E499 rounded to the current display format. See page 47 for limits.

in appointment-setting menu, 145 in PRINTER menu, 186 in SET menu, 143

, 78 , 51

of a SUM list, 122, 128

Index 307

Typing aids, 167 Typing alphabetic characters, 30
statistical, 128 Variables, Solver, 154 clearing, 163 deleting, 163 names of, 166 shared, 162 Variables,shared, 53 Verifying equations, 15758 Viewing lists. See CFLO list; SUM list; Solver list

, 56 , 56

Unacknowledged appointments, 148 Unit conversions, in the Solver, 178 Unknown variables in Solver, 240, 241 Up-arrow key, 43 USFV, 171, 246 USPV, 171, 246

, 132 , 56

Warranty, 23334 Weighted mean, 132, 13839
Values clearing, 2829. See also @c recalling, 28, 4546 storing, 28, 4546 transferring between menus, 28 Variable, dependent, 134 independent, 134 Variables statistical, 13034 Variables, built-in, 27 printing, 187

v, 41 x, 43 in RPN, 269

XOR, 174 x-values, in forecasting, 13334

, 109 , 115 , 56

u, 41, 265

308 Index

of lease, 7475 to call, bonds, 108 to maturity, bond, 108 y-intercept, in curve-fitting, 132, 134
y-values, in forecasting, 13334

Zero-coupon bond, 113

Index 309

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Volume 5 June 2008 Welcome to the fifth edition of the HP Solve newsletter. Learn calculation concepts, get advice to help you succeed in the office or the classroom, and be the first to find out about new HP calculating solutions and special offers. Featured Calculator

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Lets extrapolate the population growth in the US! Build upon what you have learned from the HP calculator e-newsletter in this month's exercise. With sequences and statistics and a little help from your HP calculator you can learn to extrapolate the US population growth.
The HP 12c: the industry standard for finance professionals and the worlds first horizontal financial calculator This oldie-but-goodie calculator revolutionized calculating and became a staple to millions of users. Read the stories of the lives the HP 12c has touched and learn how to get your own.
HP 17bII+ Financial Calculator Trust the HP 17bII+ financial calculator with even your heaviest work loads. This handy calculator is preferred in business, real estate and other financial endeavors and happens to be the HP calculator of the month!
HP calculator sales promotions buy in bulk and save! A new promotion was recently launched to create special discounts and savings for financial institutions using HP calculators. Get the promotion details and sneak-peaks into upcoming promotions!
Special Newsletter Discount As a reward for all the loyal readers out there, you can now save 10% on the HP 17bII+ Financial Calculator! Stay tuned next month for more great savings!
HP Calculator Blog Check out Wing Kin Cheung's blog, "The Calculating World with Wing and You."

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The Calculator Club Join the Calculator Club and take advantage of: The Technical Corner Learn how your HP calculator finds the square root of a number in this months technical corner. RPN Tip #5 This months RPN tip teaches you to calculate the number of attendees at a sporting event and can be translated to other like mathematical equations. Learn more with this months RPN tip. Calculator games & Aplets PC/Mac screensavers & backgrounds HP Calculator fonts Custom calculator pouches HP Calculator forum

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Upcoming HP Calculator events Event ASEE NECC AP Annual WIPTE Educause Dates - Location June 22-25 - Pittsburgh, PA June 29-July 2 - San Antonio, TX July 16-20 - Seattle, WA October 15-16 - Westville, IN October 28-31 - Orlando, FL
The gift that keeps on giving for Dads and Grads!
Article Next Are you looking for the perfect gift for the Dad or Grad in your life? Finding the right gift can be very difficult. We know you want to give something fun, but also something memorable, practical and something that will keep on giving for years to come. That perfect gift they will remember, it came from you! HP calculating solutions might be the perfect gift for your special Dad or Grad. HP recommends our most powerful calculators: HP 17bII+ Financial Calculator HP 35s Scientific Calculator HP 50g Graphing Calculator

Whether your special family member is or aspires to be a real estate tycoon, financial markets wizard, Nobel Prize winning scientist, world renowned mathematician, or professor emeritus in engineering at MIT, HP calculating solutions is the tool of choice for these intelligent leaders and many thought leaders around the world. Give them the gift that speaks to them, supports them, and enables them to be efficient, effective, and successful. Celebrate their achievements with HP calculating solutions. Save 10% on an HP 17bII+ Financial Calculator right now. Ideal for real estate, finance and business professionals, the HP 17bII+ features a simple keyboard, 250 menu-driven functions, RPN1 and algebraic entry-system logic. And now, for this month only, it is 10% off for newsletter readers only. After adding your calculator to your shopping cart, insert coupon code CL1414 at checkout. Expires June 30th, 2008. Restrictions apply*. Click here to get your special discount. * Offer expires June 30th, 2008. Valid for HP Home & Home Office internet and call center purchases only. Any unused portion will be forfeited. Each coupon code is limited to one usage per customer; one coupon code per checkout. Offer void where prohibited, taxed or restricted by law. Non-transferable. Not valid retroactively on previously purchased items. Not valid for any resale activity as defined by HP Home & Home Office Store. Coupons may not be used to purchase gift cards. Not valid on instant rebates or clearance sales. For complete coupon conditions, see "Coupon Information" in the "Customer Service" section at HP Home & Home Office. Click here for more information about the HP Calculators.
Feature calculator of the month: HP 17bII+ Financial Calculator
Previous Article Next New! HP 17bII+ Financial Calculator industrial design (silver). The simple-to-use HP 17bII+ Financial Calculator is built for the heaviest workloads of real estate, finance, and business professionals WW. Quickly calculate loan payments, interest rates and conversions, standard deviation, percent, TVM, NPV, IRR, cash flows, bonds and more. Features 28KB of user memory, over 250 menu-driven functions, RPN1 2
and algebraic entry-system logic, clock, calendar, HP solve application2, menus prompts and messages. Permitted for use on Certified Financial Planner (CFP) Certification Exam3 Fun facts about the new HP 17bII+ Financial Calculator (silver): Born: January 8, 2008 The 17bII+ (classic) replaced the 17BII, which was introduced in January of 1990 and it replaced the original HP17B, which was released on January 4th, 1988. The current HP17BII+ keyboard represents a return to the double-wide INPUT key which was present in the original HP17B (Jan 1988) and the HP17BII (Jan 1990). HP has used the model number 10 five times for scientific, printing, and business machines the original HP-10, HP-10C, HP-10B, HP-10BII, & HP10s. The model number 17 has been used for the "same" business machine with variations HP17B, HP17BII, HP17BII+ (gold) & HP17BII+ (silver).

Click here for more information about the HP 17bII+ Financial Calculator.
1. Reverse Polish Notation (RPN) is an efficient data-entry system that can significantly reduce keystrokes. More information is available at HP.com. 2. HP Solve is a time-saving application that allows you to solve for any variable without rewriting your equation. 3. CFP is a registered trademark of the Certified Financial Planner Board of Standards, Inc.

RPN Tip #5

Previous Article Next You are assigned the task of counting the people who attend a high school foot ball game by standing at the door. You dont have a mechanical push button counter, but you have your trusty RPN calculator. You prepare the machine to act as an electronic counter by pressing 1, ENTER, ENTER, ENTER, CHS, +. In place of CHS + you may save a keystroke if your machine has a correction key (such as the HP35s) by pressing it ( ). This also allows you to start a new count at any time. In place of CHS + you may also save a keystroke if you press zero. This method, however, will not terminate digit entry so the next keystroke should be your first count. You now have zero in the display (X register) and 1s in the Y, Z, & T registers. Every time you press the + key you will add 1 to the X register. This counter action occurs because of the RPN feature of replicating the T register every time the stack drops (as when you perform an addition). If you need to subtract a count press 1, - or -, CHS. Click here to learn more about RPN.
Lets extrapolate the population growth in the US!
Previous Article Next The previous activity looked at population data (overall and Hispanic) for both Texas and the United States. For this activity, we will focus on the Hispanic and overall population for the US. Examine the data. Does the US Hispanic population appear to be roughly linear? What about the total US? This activity will tie together two previous ideas you have worked with: sequences and statistics. First, you will explore the data using the ideas of common difference and common ratio from your work with sequences. You will then use the statistics aplet to see how accurate your sequence representations are by making predictions. You will also work with an aplet that has to be put on your calculator. Year US Hispanic Population 9,589,216 14,608,673 22,354,059 35,305,818 US Total Population 203,210,158 226,545,805 248,709,873 281,421,906
Exercise 1: Use the Sequence aplet to enter information about the US Total Population. 1. 2. What should U1(1) and U1(2) be? When you enter an expression for the data, will you use a common difference or a common ratio? How did you make that determination? How did you come up with that number you used in your symbolic formula? Create the table for your sequence on the calculator. How does the table shown on the calculator compare to the data in the table given in this problem? If there are differences, how do you explain them?

Now look at the US Hispanic Population. 5. 6. What should U2(1) and U2(2) be? When you enter an expression for the data, will you use a common difference or a common ratio? How did you make that determination? How did you come up with that number you used in your symbolic formula? Create the table for your sequence on the calculator. How does the table shown on the calculator compare to the data in the table given in this problem? If there are differences, how do you explain them.
Exercise 2: Lets now examine the data using the aplet TXY2K. Click here to download the TXY2K applet. Be sure to save the TXY2K applet to your desktop. Then connect your 39gs to your computer and be sure to 4
download the applet to calculator as a folder. Before you can answer any questions, you have to complete the downloading process of the aplet on your calculator. Once you have the aplet, make sure you can see the data for this problem in the NUM view. 1. Use the data for the total US population and find a model to fit the data. Which model did you choose? Why? Explain any similarities and differences between the model found using statistics and the formula you used in the sequence aplet. Use the data for the US Hispanic population and find a model to fit the data. Which model did you choose? Why? Explain any similarities and differences between the model found using statistics and the formula you used in the sequence aplet.
Exercise 3: In this exercise, rather than exploring the Hispanic population separate from the total US population, you will look at the ratio of the two populations. 1. To look at the US Hispanic population compared to the total US population, graph the year and the ratio of Hispanic to total. Describe the pattern you see. Use the statistics aplet to develop a model for the ratio of Hispanic to total. Use this model to predict when the Hispanic population will be at least 50% of the US population. Go back to your sequence aplet and look at the tables you created for the Hispanic population and total US population. According to this table, when is the Hispanic population at lease 50% of the total US population? Does this match your answer from the statistics model? Explain any differences that may occur.
Teacher Notes The following TEKS can be found in this activity. The TEKS are listed in grade-level order, not the order in which they appear in the activity. Also, some of the TEKS statements are abbreviated or paraphrased here. 6.2D: estimate and round to approximate reasonable results and to solve problems where exact answers are not required 6.3A: use ratios to describe proportional situations 6.3C: use ratios to make predictions in proportional situations 6.7: use coordinate geometry to identify location in two dimensions 7.5B: formulate problem situations when given a simple equation and formulate an equation when given a problem situation 7.7A: locate and name points on a coordinate plane using ordered pairs of integers 8.3A: compare and contrast proportional and non-proportional linear relationships 8.4: make connections among various representations of a numerical relationship 8.5A: predict, find, and justify solutions to application problems using appropriate tables, graphs, and algebraic equations Table 1: TEKS Covered, by Activity TEKS Covered 6.2D, 6.3A, 6.3C, 7.5B, 8.3A, 8.4, 8.5A 6.7, 7.5B, 7.7A, 8.4, 8.5A 6.2D, 6.3A, 6.3C, 6.7, 7.5B, 7.7A, 8.3A, 8.4, 8.5A

Activity Exercise 1 Exercise 2 Exercise 3 Answer Key 5
Exercise 1: 1. 2. U1(1) = 203,210,158 and U1(2) = 226,545,805 Students should realize they are looking at a common difference situation. Even though the differences are not exact, you are adding close to the same amount each time. Answers will vary. Students may just guess or base it on the approximate difference in the population in 1970 and 1980. Some student may add all the differences and divide by three to get the mean. For the answers shown here, we are using a common difference of 13,000,000
Below is the table based on the symbolic input shown in the previous problem.
There are two main differences. The values in the table appear in scientific notation and students will not be able to see the precise numbers. However, they should be able to see enough of the values to notice that these numbers are different than what was provided in the problem. 5. 6. U2(1) = 9,589,216 and U2(2) = 14,608,673 Students should realize that they are not dealing with a common difference in this problem. While they may not be able to immediately recognize a common ratio, it should be clear that if it is not a common difference, they should be checking for a common ratio. As with the common difference with the previous data, student answers will vary for the common ratio. They can use a guess and check method, choose only one of the ratios, or average the three. For the answers shown here, a common ratio of.15 is used.
Exercise 2: 1. A linear model since we used a common difference to set up an arithmetic sequence.
A linear model best represents an arithmetic sequence. However, the common difference used is not the same as the slope of our statistical model. An exponential model because we used a common ratio to define our sequence. An exponent model best represents a geometric sequence. However, the statistical fit is not the same as our sequence definition.
Exercise 3: In this exercise, rather than exploring the Hispanic population separate from the total US population, you will look at the ratio of the two populations. 1. The pattern appears to be exponential.
According to the statistical model, the US Hispanic population will be at least 50% between 2040 and 2050. A better approximation is between 2042 and 2043.

According to the table, the population will reach 50% sometime between 70 and 80 years past the original starting point of 1970, so between 2040 and 2050. 4. The data for the ratio in the table of sequences indicates that the choice of an exponential model is best. Differences in prediction values occur because of our choice of model. This is why predictions for population and other things will vary in different newspaper or magazine articles. When different mathematical models are used, different results can occur.
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The industry standard for finance professionals and the worlds first horizontal financial calculator
Previous Article Next Some things just dont go out of style the original HP 12c hits 27 years in 2008. HP introduced a $150 pocket-sized device that revolutionized financial calculations for people on the move. Its innovative design and breakthrough Reverse Polish Notation (RPN) entry forever changed the way students and professionals reach their goals. Instantly recognized for its unique horizontal layout, the HP 12c financial calculator has sold in the millions to investors, real estate professionals, accountants, loan officers, business students and teachers. It is an iconic consumer electronics product that is still sold virtually unchanged under its original name and model number 27 years after it was introduced. The HP 12c thats sold today acts and looks just like it did when it was first snapped up by thousands of financial and real estate students and professionals at its worldwide debut. Few other products of industrial design have achieved such a classic distinction. HP still offers the HP 12c and it is still one of our most popular financial calculators today. It has touched many lives and you can see the story winners here: Tales of the AMAZING 12C story contest The HP 12c is approved for many courses and exams including the GARP FRM, CFP, CFA, AFP, CIIA, and MFA. Easily calculate loan payments, interest rates and conversions, standard deviation, percent, TVM, NPV, IRR, cash flows, bonds and more. Now you can solve all your financial calculations with the industry standard financial calculator. HP provides FREE calculator training specific to our calculator models. Check out the links below: Click here for FREE HP 12c CBT training Click here for FREE HP 12c intro to finance video training Click here for FREE HP 12c learning modules
HP calculator sales promotions buy in bulk and save!
Previous Article Next In May, HP officially launched our first external calculator sales promotion of the year. This program is aimed at providing additional discounts and benefits for financial institutions throughout the Western United States. The program, entitled Banking and Insurance Promotion, was launched through a direct mail campaign targeting specific financial institutions. With this promotion we are looking to create awareness of our high-end financial calculator line by informing customers of the many benefits of our calculators. We hope to illustrate how our 17bII+ financial calculator is a finance-savvy tool that can help people easily answer some of the toughest financial questions, such as: What will my new ARM payment be? Should I choose a car loan or a lease? Which APR will cost me the least? How much life insurance do I need? What will my savings be worth in 40 years? 8

In the upcoming months we expect to launch additional promotions aimed at our business customers throughout the world. These promotions will provide extra discounts, incentives, training, and programs for our biggest and best customers. Through these promotions our customers will receive extra discounts off our top-selling calculating solutions the larger the purchase the bigger the discount. We also plan to incorporate a buy 10 get one free promotion. This program will greatly reward our customers that purchase our calculators in bulk. Also, unlike the previous promotions this one will use a two-pronged approach by providing incentives to our customers and internal HP sales folks. It is clear our calculators are the perfect productivity tool for anyone involved in the financial industry. But, our calculators also make the perfect gift for your employees and your customers. So, next time you are thinking of a great gift consider purchasing HP calculators in bulk and at a discount for your customers and employees! For more information or to obtain a quote on a bulk purchase please go to the HP Calculator homepage, join the calculator club, and click on the link for HP discounts & special offers. On this page you will find the link to request discounted pricing for bulk purchases.

The Technical Corner

Previous Article Next Ever wonder how your HP Calculator finds the square root of a number? HP calculators stores numbers as a set of 3 items: a sign, + or -, a 12 digit number called mantissa always greater or equal to 100000000000 and an exponent. For example, 34.432 is stored as +, 344320000000, 1. To extract a square root of a number, the calculator makes use of the following mathematical fact:
n2 + n n2 result 0.5 = 0.5 * n + 2 = 2 result =1
Before calculating the square root, the calculator prepares the number by looking at the exponent. Mathematically, the exponent of the square root of a number is of the exponent of the original number (1e2=100 is the square root of 1e4=10000). But, there is an issue if the original exponent is odd, in this case, you can not divide it by 2, so if the exponent is even, the exponent is first decremented and the mantissa multiplied by 10 (which yield the same number). The number is then divided by 2 (because the formula equates the sum with n2/2). Then comes the real work, calculating the square root digits. To do that, the calculator successively removes result +0.5 from the original number with result incrementing from 0 to 9 until it can not do it anymore. This gives us n, an approximation of the square root of n2/2. Then the calculator repeats the process for the next digit until it has done it for all digits of the mantissa. Let us look at the algorithm in a pseudo computer language and try to apply it to the number 2 (sign:+ mantissa:200000000000 exponent:0) // calculate exponent of the result and modify the mantissa as needed. 9
if exponent is odd then mantissa= mantissa/10 and exponent= exponent-1 exponent= exponent/2 // divide the mantissa by 2 as per the algorithm mantissa= mantissa/2 // initialize increment for the first digit. // note that increment/2 is 0.5*increment! increment= 100000000000 result= 0 for i=12 to 0 while decrement i each time { while mantissa >= result+increment/2 repeat {

// for each of the 12 digits // see if we can remove result+0.5 // from mantissa // while we can do it, do it! // number = number // result+increment*0.5 // increment result // next digit! // next increment
mantissa= mantissa-result-increment/2
result= result + increment } mantissa= mantissa*10 increment= increment/10
// and we are done. exponent is the result exponent. // and result if the mantissa of the result! The following table shows the content of the various variables during the execution of the algorithm and show how the square root of 2 appears during the process. i mantissa 100,000,000,000 200,000,000,000 595,000,000,000 302,000,000,000 191,800,000,000 503,795,000,000 795,315,500,000 882,088,750,000 335,606,320,000 527,636,078,000 103,372,009,355 437,705,999,155 result 100,000,000,000 140,000,000,000 141,000,000,000 141,400,000,000 141,420,000,000 141,421,000,000 141,421,300,000 141,421,350,000 141,421,356,000 141,421,356,200 141,421,356,230 141,421,356,237 increment 100,000,000,000 10,000,000,000 1,000,000,000 100,000,000 10,000,000 1,000,000 100,000 10,000 1,10 1
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Special Newsletter Discount
Previous Article Save 10% on an HP 17bII+ Financial Calculator right now. Ideal for real estate, finance and business professionals, the HP 17bII+ features a simple keyboard, 250 menu-driven functions, RPN1 and algebraic 10
entry-system logic. And now, for this month only, it is 10% off for newsletter readers only. After adding your calculator to your shopping cart, insert coupon code CL1414 at checkout. Expires June 30th, 2008. Restrictions apply*. Click here to get your special discount. * Offer expires June 30th, 2008. Valid for HP Home & Home Office internet and call center purchases only. Any unused portion will be forfeited. Each coupon code is limited to one usage per customer; one coupon code per checkout. Offer void where prohibited, taxed or restricted by law. Non-transferable. Not valid retroactively on previously purchased items. Not valid for any resale activity as defined by HP Home & Home Office Store. Coupons may not be used to purchase gift cards. Not valid on instant rebates or clearance sales. For complete coupon conditions, see "Coupon Information" in the "Customer Service" section at HP Home & Home Office.