Sharp EL-738 User Manual

MODEL

EL-738

BUSINESS/FINANCIAL
CALCULATOR

OPERATION MANUAL

1

• SHARP makes no guarantee that this product or this

manual is suitable or accurate for any purpose, com-

For Australia/New Zealand only:

For warranty information please see www.sharp.net.au

cording to country, locality, or fi nancial institution. It

• Rules and practices in fi nancial calculation vary ac-

mercial or otherwise.

• SHARP strongly recommends that separate permanent
from the use of this product and any of its functions, the

written records be kept of all important data. Data may be

lost or altered in virtually any electronic memory product

under certain circumstances. Therefore, SHARP assumes

no responsibility for data lost or otherwise rendered unus-

able whether as a result of improper use, repairs, defects,

battery replacement, use after the specifi ed battery life

has expired, or any other cause.

loss of or alteration of stored data, etc.

• SHARP assumes no responsibility, directly or indirectly,
responsibility and shall have no liability of any kind, con-

for fi nancial losses or claims from third persons resulting

sequential or otherwise, from the use of this material.

• The material in this manual is supplied without repre­by misuse and/or malfunctions of this product and its

sentation or warranty of any kind. SHARP assumes no

peripherals, unless such liability is acknowledged by law.

• SHARP will not be liable nor responsible for any incidental

is the consumer’s responsibility to determine whether

or not the results produced by this product conform

or consequential economic or property damage caused

to applicable rules and regulations.

NOTICE

Index ...........................................................................83

Specifi cations ....................................................................82

Priority Levels in Calculations ...........................................81

Battery Replacement ........................................................80

Errors and Calculation Ranges .........................................76

Statistical Calculation Formulas ........................................75

Financial Calculation Formulas .........................................72

Appendix ....................................................................72

Statistical Calculations and Variables ................................67

Chapter 5: Statistical Functions ...............................64

Modify Function .................................................................63

Random Functions ............................................................62

Scientifi c Calculations .......................................................61

Chain Calculations ............................................................60

Constant Calculations .......................................................60

Chapter 4: Scientifi c Functions ................................60

Breakeven Calculations .....................................................58

Cost/Sell/Margin/Markup Calculations ..............................56

Percent Change/Compound Interest Calculations ............54

Day and Date Calculations ................................................52

Conversion between APR and EFF ..................................51

Depreciation Calculations .................................................48

Bond Calculations .............................................................44

Discounted Cash Flow Analysis ........................................37

Amortization Calculations .................................................33

TVM (Time Value of Money) Solver ..................................22

General Information ..........................................................17

Chapter 3: Financial Functions ................................ 17

Memory Calculations ........................................................14

Editing and Correcting an Entry ........................................13

Clearing the Entry and Memories .....................................11

Basic Calculations .............................................................11

Chapter 2: General Information ................................11

Operating Modes ..............................................................10

The SET UP Menu ..............................................................8

Operational Notes ...............................................................3

Key Notations in This Manual ..............................................4

Contents

Introduction ..................................................................3

Chapter 1: Getting Started ..........................................5

Preparing to Use the Calculator ..........................................5

Resetting the Calculator In Case of Diffi culty ......................5

Calculator and Display Layout .............................................6

2

3

• This product, including accessories, may change due to up-

grading without prior notice.

• Never dispose of batteries in a fi re.

• Keep batteries out of the reach of children.

• Do not drop the calculator or apply excessive force.

• Clean with a soft, dry cloth. Do not use solvents or a wet cloth.
water spray, juice, coffee, steam, perspiration, etc. will also

cause malfunction.

• Since this product is not waterproof, do not use it or store it

where fl uids, for example water, can splash onto it. Raindrops,

sively humid or dusty environments.

• Keep the calculator away from extreme heat such as on a car
may break when you sit down. The display is made of glass

dashboard or near a heater, and avoid exposing it to exces-

and is particularly fragile.

Operational Notes

• Do not carry the calculator around in your back pocket, as it

• All company and/or product names are trademarks and/or

registered trademarks of their respective holders.

screen examples will show only the symbols necessary for

explanation of each particular calculation.

• Display of examples shown in this manual may not look ex-

actly the same as what is seen on the product. For instance,

After reading this manual, store it in a convenient location for

future reference.

Thank you for purchasing a SHARP Business/Financial Calcula-

tor.

Introduction

Key Display

• Examples in this manual are performed using default settings

(e.g., SET UP menu items) unless values are otherwise as-

signed.

Multiplication instruction

Alphabetic letter





x

X

X

distinguished as follows:

Notes:

• The multiplication instruction “

×

” and alphabetic letter “X” are

followed by

followed by

)

*

key and

key.

i

A

•

.

mean you have to press

x

t

,

and

10.

i

A

.

πA˚_

Press

Using the

s

.

t

.

i

and

i

keys

effective in specifi c modes.



key), press

Functions that are printed in black adjacent to the keys are

i

fi rst.



To specify a memory function (printed in green on/above the



Number entry examples are shown with ordinary numbers

(i.e., “100” will be indicated instead of “

1



Functions that are printed in orange above the key require

.

to be pressed fi rst before the key.

To specify Z :

To specify DATA :

i

J

..............................

Z

.....................

To specify CLR-D :

To specify ENT :

.

Q

?

.....................

Key operations are described in this manual as follows:

To specify log :

To specify 1 :

To specify



xy :

.

1

i

or 1 .......................

V

.....................

h

.....................

Key Notations in This Manual

×

-10

0

0

”).













4

5

setting.

Note: Pressing

data stored in memory and restore the calculator’s default

.

k

and

1

Resetting the calculator

See the above procedure.

the calculator.

Caution:

The RESET operation will erase all data stored in

memory and restore the calculator’s default setting.

Resetting the Calculator In Case of Diffi culty

MAL mode appears.

• After resetting the calculator,

the initial display of the NOR-

sharp tip.

not use an object with a breakable or

the back of the calculator with the tip

of a ball-point pen or similar object. Do

Resetting the calculator

Press the RESET switch located on

(initialize) it.

Preparing to Use the Calculator

Before using your calculator for the fi rst time, you must reset

Getting Started

Chapter 1

In rare cases, all the keys may cease to function if the calculator

is subjected to strong electrical noise or heavy shock during use.

If pressing any of the keys (including

=

will also erase all

s

) has no effect, reset

000



MODE key: Switches between NORMAL and STAT modes.



Cursor keys: Move the cursor.





SET UP key: Displays the SET UP menu to select the

display notation, angular unit, depreciation method and date

format.

i

Key operation keys:

.

press



Power ON/OFF and Clear key: Turns the calculator ON.

This key also clears the display. To turn off the calculator,

character line (10-digit mantissa and 2-digit exponent).



Display screen: The calculator display consists of a 12-char-

acter dot matrix character line and a 12-digit 7-segment

 SET UP

key

keys

 Key

operation

Calculator layout

Calculator and Display Layout

: Activates the memory (printed in green) assigned to

the following key.

: Activates the second function (printed in orange) as-

signed to the following key.

.

c

, then

.

 MODE key

 Cursor keys

 Power

ON/OFF and

Clear key

 Display

screen

6

7

FLOAT A / FLOAT B / TAB / SCI: Indicates the notation used to

COMP

ENT

360

BGN

ALPHA

HYP

2ndF



/

:

:

Indicates that the displayed variable can be solved for

display values. It can be changed in the SET UP menu.

by using

Indicates that a value can be assigned to the displayed

variable using

dar.

not displayed, date calculations use the actual calen-

:

Indicates that date calculations are based on a

360-day year (12 months with 30 days). When 360 is

ity (payment at the end of each interval) calculations.

BGN

is not displayed, calculations are ordinary annu-

:

Indicates that calculations are annuity due (payment

at the beginning of each interval) calculations. When

:

Indicates that

and storing or recalling memory values or TVM solv-

ers/statistics variables can be performed.

hyperbolic functions are enabled.

:

Indicates that

functions shown in orange are enabled.

:

Appears when



:

Indicates that variables or data are present above/be-

low the screen. Press

:

Appears when the entire equation cannot be displayed.

Press

g

• Only the symbols required for the operation being explained

are shown in the screen examples of this manual.

• During actual use, not all symbols are displayed at the same

time.

display

variable

name

Equation/

Display layout

@

/

.

Q

i

.

.

y

.

,

g

]

is pressed, indicating that the

to see the remaining (hidden) part.

Mantissa

z

or

has been pressed and the

/

f

has been pressed,

i

to scroll up/down.

Exponent

Symbol

• The default setting is a fi xed decimal point with two decimal

places.

nential notation). See the next section for details.

• If a fl oating point number does not fi t in the specifi ed range,

the calculator will display the result in scientifi c notation (expo-

• Press

Selecting the display notation and number of decimal

places

The calculator has three display notation systems (fi xed decimal

point, scientifi c notation and fl oating point) for displaying calcu-

lation results.

displayed and the number of decimal places can be set to any

• If

~

0

0

s

to exit the SET UP menu.

• If

displayed and the number of signifi cant digit can be set to any

value between 0 and 9. Entering 0 will set a 10-digit display.

value between 0 and 9.

~

0

1

• If

view the previous/next part of the menu.



or



is displayed on the screen, press

number.

• pressing the number key corresponding to the menu item
will blink), then pressing

• A menu item can be selected by:

• Using

g

/

y

DSP DRG DEPR

02
1

The SET UP Menu

Press

~

to display the SET UP menu.

M : Indicates that a numerical value is stored in the inde-

: Indicates that the value of the displayed variable has

not been calculated yet (for variables that can be cal-

culated).

pendent memory (M).

: Appears when statistics mode is selected.

DEG / RAD / GRAD : Indicates which angular units are in use.

It can be changed in the SET UP menu.

(SCI) is pressed, “SIG(0-9)?” will be

(TAB) is pressed, “DIG(0-9)?” will be

to select a number (the selected number

=

, or

i



DATE

3

z

or

i

to

8

9

• SYD (Sum-of-the-years’ digits method):

• DB (Declining balance method):

~

2

~

2

2

• DEG (°) :

Selecting the depreciation method

• SL (Straight-line method):

• RAD (rad) :

• GRAD (g) :

~

~

1

1

1

2

~

1

0

~

2

0

Selecting the angular unit



Fixed decimal point

with two decimal

places

(FLO_B)

~

0

(default setting)

(see page 61)

0

2

(see page 48)

(default setting)

3©1———=

3 ÷ 1000 =

Floating point

(FLO_A)



Floating point

s

~

0

3

3©1———=

=

3

8

1000

3©1———=



Floating point

(FLO_A)

~

0

2

1—————©3=

3333333333



Scientifi c notation

(SCI) with two

signifi cant digits

~

0

1

2

with two decimal

places

1—————©3=

100000 ÷ 3 =

Fixed decimal point

s

=

100000

8

3

1—————©3=

Switching the notation setting

Procedure Key operation Display

• FLO_B

~

~

0

0

2

3

: 0.000000001

: 0.01



| X |



9,999,999,999



| X |



9,999,999,999

FLO_A (FLOAT A) and FLO_B (FLOAT B). In each display set-

ting, a number is automatically displayed in scientifi c notation

outside the following preset ranges:

• FLO_A

tifi c notation

The calculator has two settings for displaying a fl oating point

number:

Selecting the fl oating point number system in scien-

3333333

1

0003

000

33

3

-03
04

Operations available in each mode

STAT (statistics) mode:

NORMAL mode:

2. Press

The menu display appears.

This calculator has two operating modes, which can be selected

Selecting a mode

1. Press

using the MODE key.

Operating Modes

• EU (Day-Month-Year):

• US (Month-Day-Year):

Selecting the date format

Allows you to perform statistical, arithmetic, or scientifi c

calculations. The

symbol appears in the display.

Allows you to perform fi nancial, arithmetic, or scientifi c

calculations.

0 2

• Press

to select STAT mode.

1

or

y

=

SD LINE QUAD

lect NORMAL mode.

0

or

=

to se-

m

.

NORMAL STAT

~

~

3

3

0

1

(see page 44)

01

(default setting)

1

10

000

11

The following methods of clearing the calculator (restoring de-

fault settings) are available:

Clearing the Entry and Memories

(5

×

10
) ÷ (4

×

10

) =

,

3

=

3

–3

*

5

S

3

8

4

S

1

(

5

,

)

*

1

42

×

(–5) + 120 =

42

x

,

5

+

120

=

18 + 6

15 – 8

=

(

(

18

15

+

-

6

8

)

=

8

125000000

45 + 285 ÷ 3 =

levels in calculation on page 81.

Example Key operation Result

s

45

+

285

8

3

=

calculator performs the calculation according to the priority

• When you enter a series of operations in one sequence, the
before

• Use the

inner parts of expressions. The closing parenthesis

=

(

or

and

h

)

may be omitted.

keys to place parentheses around

)

• Use the

standard arithmetic calculations of addition, subtraction, multi-

plication, and division. Press

• Use the arithmetic keys
tor. To clear the display or entry, press

• Use the number keys

and sign change key

S

key to enter a value in scientifi c notation.

,

0

+

to enter numbers into the calcula-

=

to perform each calculation.

-

x

to

9

, decimal point key

s

8

.

to perform the

Basic Calculations

Entering numbers and arithmetic operations

General Information

Chapter 2

-9000
343

14000

.

just

,

located at the right end of an equation or if you are entering a

value, the

L

key will function as a back space key.

Delete key

To delete a number/function, move the cursor to the number/

function you wish to delete, then press

left off when you turn it on again.

• If you turn off the calculator (by pressing

ting it turn itself off automatically), it will resume wherever you

STAT, r e fe r t o the relevant section.

• To clear or restore to the default setting one variable or value

of TVM variables, listed fi nancial variables, cash fl ow data, or

s

g

and then specify the memory.

*

Notes:

• To clear any of the “A-H, M, X-Z” or “ANS” memories, press
Are cleared when changing between sub-modes in STAT mode.

*

7

8

Statistical data (entered data) and variables (n,

*

6

Press

sharing common memory with listed fi nancial variables are

also cleared or restored to default settings.

.

b

*

5

With one of the variables of a listed group (such as those

used in bond calculations) displayed, when

pressed, all the variables in the listed group are cleared or

restored to their default settings. Note that TVM variables

P1 and AMRT P2 both revert to their default values. The

same holds true for YEAR when you press

*

*

When you press

*

4

3

Listed variables used in fi nancial calculations (such as “RATE

(I/Y),” etc.) including P/Y and C/Y

calculations, are also cleared or restored to default settings.

*

1

2

N, I/Y, PV, PMT, and FV (P/Y and C/Y are not included.)

Note that listed fi nancial variables sharing common memory

with TVM variables, such as “COUPON (PMT)” used in bond

: Cleared or restored to the default setting : Retained

RESET switch

. k 0

. k 1

(MEM)

(RESET)

s

. b

m

(Mode selection)

Operation

12

L

. If the cursor is

.

c

or by let-

when a cash fl ow value is displayed.

x

, etc.)

.

b

is

O

.

*

to enter a fi nancial calculation, AMRT

×

(display)

Entry

M, X-Z

×

×

×

×

× ×

×

*

2

A-H,

ANS

variables

TVM

*

1

variables

financial

Listed

×

*

5

×

×

*

×

*

6

×

8

*

*

3

4

data

flow

STAT

*

7

Cash

13

• This mode setting will be retained until you press

or RESET the calculator.

• To insert a number in the insert mode, move the cursor to the
the two modes. A triangular cursor indicates an entry will be

inserted at the cursor, while the rectangular cursor indicates

place immediately after where you wish to insert, then make

the desired entry. In the overwrite mode, data under the cursor

will be overwritten by the number you enter.

existing data will be overwritten as you make entries.

Insert and overwrite modes in the equation display

• This calculator has two editing modes: insert mode (default),

and overwrite mode. Pressing

After obtaining an answer, pressing

of the equation and pressing

Press

.

equation.

y

g

to jump the cursor to the beginning or end of the

or

y

to move the cursor. Press

y

Playback function

• In fi nancial calculations, such as bond calculations, press

i

or

z

to move through the variables (items).

If you need to scroll up or down the screen, use

• In a menu, such as the SET UP menu, use

select a number (the selected number will blink), then press

Editing and Correcting an Entry

Cursor keys

restore the calculator’s default settings.

• To RESET the calculator, press

The RESET operation erases all data stored in memory, and

variables, cash fl ow data, and STAT), press

0

=

.

• To clear all (A-H, M, X-Z, ANS,

TVM variables, listed fi nancial

menu.

Memory clear key

Press

.

k

to display the

.

d

.

d

switches between

brings you to the beginning.

.

g

or

g

brings you to the end

z

or

i

=

.

.

g

or

y

to

1

0

or

1

=

.

0

0

or

MEM RESET

0
1

: Available : Unavailable

×

NORMAL

S TAT

Mode

A-H,

X-Z

This calculator has 11 temporary memories (A-H and X-Z), one

independent memory (M) and one last answer memory (ANS).

It also has various variables for use in fi nancial calculations and

statistical calculations.

Memory use in each mode for memory calculations

Memory Calculations

the equation. For details, see page 76.

ranges, or if a mathematically illegal operation is attempted.

When an error occurs, pressing

moves the cursor to the place in the equation/number where the

error occurred. Edit the equation/number or press

Errors

An error will occur if an operation exceeds the calculation

and calculate.

mode.

Change “3” to “13”

Enter the playback

Switch to overwrite

mode.

Change “15” to “25”

and move the cur-

sor to “3”.

Change to insert

function.

15 ÷ 3 =

Changing “15 ÷ 3 =” into “25 ÷ 13 =”

Procedure Key operation Display

14

×

×

×

×

M

ANS

variables

TVM

*

1

Listed financial

variables

*

2

Statistical

variables

*

3

g

or

y

automatically

s

to clear

1

=

25©13=

192

.

d

25©3

2

y

y

25©3

.

d

15©3

y

15©3

500

s

15

8

3

=

15©3=

15

wish to carry over is held in a variable that exists in both types

M-Y) 2 are not stored in last answer memory.• Variables common to both calculations: If the value that you

exit the calculation (the listed fi nancial variables will disappear

from the screen), and press

from the previous calculation. M-D-Y (D-M-Y) 1 and M-D-Y (D-

i

/

to bring up the value

play the variable and value that you wish to carry over. The value

is automatically entered into last answer memory. Press

Listed fi nancial variables

Financial variables are specifi c to the type of calculation they

are used in. For example, the variable N is available to the TVM

solver but not to discounted cash fl ow analysis calculations. If

you want to carry a value from a variable over into a different

type of calculation, use one of the following methods:

•
Last answer memory (ANS): Within the original calculation, dis-

temporary memories. It is not necessary to press

a value.

TVM variables can be recalled using

f

in the same way as

g

TVM variables

• Listed fi nancial variables are automatically stored in the last
calculation ending instruction (including storing and recalling

answer memory by displaying the variable and the value.

operations) is automatically stored in the last answer memory.

Last answer memory (ANS)

• The calculation result obtained by pressing

Press

Independent memory (M)

In addition to all the other features of temporary memories, a

value can be added to or subtracted from an existing memory

value.

s

g

M

to clear the independent memory (M).

=

or any other

To place a variable in an equation, press

memory.

Press

Press

f

g

and the variable key to recall a value from the

and the variable key to store a value in memory.

i

and the variable key.

Temporary memories (A-H, X-Z)

*

x

,

sx

,

m

x

,

n

,

Y

x

,

Y

x

,

y

,

sy

,

m

y

,

Y

y

,

Y

y

,

Y

xy

,

r

,

a

,

b

,

c

2

3

All fi nancial variables, except for TVM variables

2

2

*

*

1

N, I/Y, PV, PMT, FV

s

to

to store

* Entry of the multiplication procedure is omitted between “

and a variable.

24

4 + 6

3

×

(A) + 60 ÷ (A) =

= 2.4...(A)

r = 3 cm (r

/

r

2

= ?

A

Y)

¥26,510 = $?

$2,750 = ¥?

M

$1 = ¥110

–)M

+)$250:M

2

×

5%

2

=M

1

+250

$150

×

3:M

1

24 ÷ (8

(8

×

2)

×

×

5 =

2) =

Memory calculations

Example Key operation Result

Note: Use of

memory using up to 14 digits.

calculation, however, you can use the values held in statistical

variables in subsequent calculations.

are the results of the calculation of statistical data. Therefore,

you cannot enter values directly into statistical variables. After

Statistical data is not entered into variables. Statistical variables

Statistical variables

of calculation (for example, both bond calculations and the TVM

solver use the variable I/Y), you can retrieve the value simply by

switching calculation types and bringing up the variable.

f

16

/

”

3

i

24

x

8

/

i

(

=

/

4

+

+

6

)

60

8

=

3220

240

.

.

t

;

i

=

Y

*

2827

3

g

Y

2750

x

f

Y

=

110

g

8

Y

f

Y

=

26510

30250000

11000

24100

300

250

f

.

x

h

M

j

x

f

M

66500

3500

h

5

.

%

45000

25000

s

150

g

3

M

000

24

i

M

x

5

=

8000

s

8

8

x

i

2

M

g

=

M

1600

150

or

i

will recall the value stored in

17

rates.

Cost/Sell/Margin/Markup calculations: Calculate cost, selling

price and margin/markup.

Breakeven calculations: Calculate breakeven points (quantity)

using fi xed costs, variable costs per unit, unit prices, and profi t.

percent change (increase or decrease) and compound interest

Discounted cash fl ow analysis: Analyze unequal cash fl ows

schedules using values stored in the TVM solver.

regular payments.

Amortization calculations: Calculate and create amortization

cash fl ows. These include calculations for mortgages, loans,

leases, savings, annuities and contracts or investments with

and calculate NPV (net present value) and IRR (internal rate of

return).

Bond calculations: Solve bond prices or yields to maturity with

accrued interest.

Depreciation calculations: Obtain depreciation base values

using three types of calculation methods.

Conversion between APR and EFF: Interest rates can be

converted between APR (annual, or nominal percentage rate)

and EFF (effective interest rate).

Day and date calculations: Calculate dates and the number of

days between dates.

Percent change/Compound interest calculations: Calculate

TVM (Time Value of Money) solver: Analyze equal and regular

mode to perform fi nancial calculations.

General Information

Financial calculations

The following fi nancial functions are available. Use NORMAL

Financial Functions

Chapter 3

*The variable names vary according to the data format settings.

——

——

FV —

PMT —

PV — PRICE (PV) COST (PV) OLD PRC (PV) —

I/Y RATE (I/Y) YIELD (I/Y) DB (I/Y) % (I/Y) —

N — CPN/Y (N) LIFE (N) PERIODS (N) —

solver

TVM

Discounted

cash fl ow

analysis

among calculations. If you change the value of a variable in one

calculation, the value will change in all the other calculations

as well. The following list shows the variables shared between

calculations. While calculating, be aware of the values stored in

these variables.

Variables shared among calculations

Financial variables are specifi c to the type of calculation they

are used in. Values are stored in these variables and recalled

as required. Some variables are shared (in the memory area)

each calculation. P/Y and C/Y in the TVM solver are of this type of

variable.

Variables that are organized into lists in different categories. These

variables can be accessed using the

Listed fi nancial variables:

directly using the corresponding keys.

used in fi nancial calculations are categorized into the following

two types, depending on the entry method.

TVM variables:

Variables that are used in the TVM solver. These include N,

I/Y, PV, PMT and FV. You can store, recall or calculate values

values into variables, you can obtain unknown values. Variables

Variables used in fi nancial calculations

Financial calculations use multiple variables. By entering known

18

REDEMPT

M-D-Y 2

D-M-Y 2

D-M-Y 2

M-D-Y 1

D-M-Y 1

(FV)

*

*

SALVAGE (FV) NEW PRC (FV) —

——

——

M-D-Y 1

D-M-Y 1

M-D-Y 2

*

*

COUPON

(PMT)

———

calculations

Bond

Depreciation

calculations

Compound inter-

Percent change/

est calculations

Day and date

calculations

z

/

i

cursor keys in

19

Note: Pressing

C. Executing calculation

B. Displaying a value

Note: In step 3, you can also enter values into variables using

A. Entering a value

Listed fi nancial variables

B. Displaying a value

Press

C. Executing calculation

Press

Note: You can also enter values into variables using arithmetic

Enter a value and then press the corresponding TVM vari-

A. Entering a value

Basic variable operations

TVM variables (N, I/Y, PV, PMT, FV)

played listed fi nancial group to the default values. For

details, see the relevant sections for each fi nancial calcu-

lation.

.

b

resets all the variables in the dis-

1. Use

2. Press

z

@

/

i

when the “COMP” symbol appears.

to select the variable you wish to calculate.

1. Use

z

/

i

to show the variable and value.

arithmetic operations.

Ex. 100

x

12

Q

2. Use

3. Enter the value and press

appears.

Q

when the “ENT” symbol

ing the corresponding fi nancial calculation key.

z

/

i

to select the variable you wish to enter.

1. Select the desired fi nancial calculation method by press-

@

and the corresponding TVM variable key.

f

and the corresponding TVM variable key.

operations.

Ex. 100

x

12

u

able key.

• The

variable has not been calculated yet (for variables that can be

calculated).

• Calculation-only and automatically calculated variables have

no default values.

Notes:

• During fi nancial calculation, the word “calculating!” will be

displayed on the screen. You can press

cancel the calculation.

Calculated automati-

cally

For entry or calcula-

tion

For calculation only COMP

For entry only ENT

The ENT and COMP symbols

Listed fi nancial variables are categorized by whether they are

known or unknown. When the variable is selected (displayed),

the “ENT” and/or “COMP” symbols will appear to indicate that

the current variable may be entered (known variable) and/or

calculated (unknown variable), respectively. For details, refer to

the explanations or examples for each fi nancial function.

Note: TVM variables (N, I/Y, PV, PMT and FV) can be entered

symbol will be displayed if the value of the displayed

—

s

the calculator calculates

the value automatically.

at this time to

Unknown variable, but

ENT COMP

Variable can be used

as either a known or an

unknown.

a known, but not as an

unknown.

Variable can be used as

an unknown, but not as

a known.

Category Display symbols Descriptions

display.

Variable can be used as

(known variables) and calculated (unknown variables),

however, neither “ENT” nor “COMP” will appear on the

20

21

Outflow (–)

Payment (PMT)

Cash

flow

......

Time

cash fl ow diagrams to describe cash infl ows and outfl ows.

Inflow (+)

Present

value (PV)

The direction of arrows indicates the direction of cash movement

(infl ow and outfl ow) with time. This manual uses the following

Cash fl ow diagrams

month, including interest added in previous months. Interest

earns interest, which is why it is called compound interest.

It is important to know the compounding period of a loan or

investment before starting, because the whole calculation is

based on it. The compounding period is specifi ed or assumed

(usually monthly).

a bank accumulates a certain amount of interest each month,

increasing the account balance. The amount of interest received

each month depends on the balance of the account during that

Compound interest

This calculator assumes interest is compounded periodically in

fi nancial calculations (compound interest). Compound inter-

est accumulates at a predefi ned rate on a periodic basis. For

example, money deposited in a passbook saving account at

Future

value (FV)

2. Select ordinary annuity or annuity due using

• All the TVM solver variables retain their previously entered

1. Press

• Make sure the calculator is in NORMAL mode.

Basic operations

Refer to page 19 for basic variable operations.

Refer to page 28 for details.

values. If you wish to clear all the data, press

s

to clear the display.

.

(BGN is not displayed).

of the period) and annuity due (payment at the beginning of the

period) using

.

"

. The default setting is ordinary annuity

Setting the payment period (payment due)

You can toggle between ordinary annuity (payment at the end

C/Y

.

w

i

Number of compounding

periods per year

P/Y

.

w

Number of payments per year 1

FV

u

T

Future value 0

PMT

Payment 0

PV

v

Present value 0

I/Y

f

Interest rate per year 0

N

Variable

N

variable key

Total number of payments 1

Description

Variables used in the TVM solver

information stored in the TVM solver (see page 33).

Corresponding

TVM (Time Value of Money) Solver

Analyze equal and regular cash fl ows. These include calcula-

tions for mortgages, loans, leases, savings, annuities, and

contracts or investments with regular payments.

Note: Discounted cash fl ow analysis can be done using un-

equal cash fl ows (see page 37).

An amortization schedule can be calculated using the

22

.

"

b

.

.

Default

value

1

23

Default values for the number of payments per year (P/Y) and

the number of compounding periods per year (C/Y) are both set

to 1. Set these values before entering TVM variable values.

A $56,000 mortgage loan (compounded monthly) requires

monthly payments of $440 during its 20-year amortization pe-

riod. Calculate the annual interest rate on the mortgage.

Basic examples for the TVM solver

Calculating basic loan interest

4. Press

3. Enter values into TVM solver variables.

PMT = –$440

N = 12 × 20 years = 240

......

I/Y = ?%

FV = 0

PV = $56,000

• The calculation is performed and the obtained values are

displayed.

1

@

• Note that some variables are shared by other calculations

and may have values assigned by those calculations.

variable.

• By pressing

vious normal calculation stored in ANS memory as a TVM

payments.

• After setting P/Y (number of payments per year), you can

use

Enter the number of years and press

calculator automatically calculates the total number of

ing values, press

.

ues entered into P/Y or C/Y must be positive. After enter-

• Press

same value is automatically assigned to C/Y as well. Val-

.

and the TVM variable key that you wish to solve.

f

<

w

• Enter a value and press the appropriate TVM variable key

(

N

,

f

,

v

to enter N (total number of payments).

/

you can use the result of the pre-

s

to quit the P/Y and C/Y settings.

and then enter a value for P/Y. The

,

u

,

T

).

.

<

. The

Answer: The annual interest rate is 7.17%.

Note: If you make a mistake, press

Set all the variables to

Calculate the annual

interest rate.

Enter the future value.

Enter payment.

Enter the present value.

Make sure ordinary annuity is set (BGN is not displayed).

Set the number of pay-

ments per year to 12.

The number of compounding periods per year is automatically set to the

same value as P/Y.

Confi rm the number of

compounding periods

per year.

Quit the P/Y and C/Y

settings.

Calculate the total num-

ber of payments and

store in N.

default values.

and enter the correct number to continue.

After pressing the TVM variable key, you must re-enter

values from the beginning.

@

f

L

to erase the number

I/Y=

717

0

T

—~FV

000

,

440

u

(-44—)~PMT

56000

v

56———~PV

5600000

-44000

20

.

<

N

ANS~N

24000

000

s

1200

i

C/Y=

.

w

12

Q

P/Y=

1200

.

b

000

Procedure Key operation Display

24

25

Answer: The quarterly payments are $1,255.86.

Calculate the quarterly

payment.

@

u

Enter the annual interest

rate.

6.5

f

Enter the future value.

0

T

number of payments and

store in N.

Enter the present value.

56000

v

compounding periods per

year.

Quit the P/Y and C/Y set-

tings.

Calculate the total

20

.

<

N

s

ments per year to 4.

Confi rm the number of

i

Set the number of pay-

.

w

4

Q

Make sure ordinary annuity is set (BGN is not displayed).

default values.

Set all the variables to

Procedure Key operation Display

.

b

PMT = ?

N = 4 × 20 years = 80

......

period.

PV = $56,000

I/Y = 6.5%

Calculate the quarterly payment for a $56,000 mortgage loan

at 6.5% compounded quarterly during its 20-year amortization

Calculating basic loan payments

2

-125586

PMT=

6.5~I/Y

650

—~FV

000

56———~PV

ANS~N

5600000

8000

000

C/Y=

400

P/Y=

400

FV = 0

000

Answer: You will have $7,922.19 at the end of the three-year

Enter the annual inter-

est rate.

Calculate the future

value.

Enter payment.

store in N.

Enter the present value.

Quit the P/Y and C/Y

settings.

Calculate the total num-

ber of payments and

Set the number of com-

pounding periods per

year to 4.

Make sure ordinary annuity is set (BGN is not displayed).

Set the number of pay-

ments per year to 12.

default values.

Set all the variables to

Procedure Key operation Display

continue with the plan?

Calculating future value

You will pay $200 at the end of each month for the next three

years into a savings plan that earns 6.5% compounded quar-

terly. What amount will you have at the end of period if you

period.

@

T

FV=

6.5

f

6.5~I/Y

792219

650

,

200

u

(-2——)~PMT

-20000
000

0

v

—~PV

3600

3

.

<

N

ANS~N

000

s

C/Y=

400

i

4

Q

.

w

12

Q

P/Y=

1200

.

b

000

PMT = –$200

N = 12 × 3 years = 36

PMT = –$200

PV = 0

......

3

I/Y = 6.5% (quarterly)

FV = ?

26

27

Answer: You should deposit $3,768.89 now.

Calculate the present

value.

Enter the annual inter-

est rate.

Set payment to zero.

of payments.

Enter the future value.

Press

Enter the total number

The number of compounding periods per year is automatically set to 1.

ments per year to 1.

Set the number of pay-

Make sure ordinary annuity is set (BGN is not displayed).

default values.

Set all the variables to

of money should you deposit now?

Calculating present value

You open an account that earns 5% compounded annually. If

you wish to have $10,000 twenty years from now, what amount

PV = ? I/Y = 5%

s

Procedure Key operation Display

@

v

PV=

5

f

5~I/Y

-376889

500

0

u

—~PMT

000

to exit the P/Y and C/Y settings.

10000

T

1————~FV

s

20

N

2—~N

1000000

2000

.

w

1

Q

P/Y=

100

.

b

000

N = 20 years

4

FV = $10,000

Make sure ordinary annuity is set (BGN is not displayed).

Set the number of pay-

ments per year to 12.

The number of compounding periods per year is automatically set to

12. Press

default values.

Set all the variables to

Procedure Key operation Display

suming the account will earn 3.6% interest compounded monthly?

Ordinary annuity

Note: The above selection only affects the TVM solver.

To toggle between ordinary annuity and annuity due, press

.

"

received at the beginning of each payment period. Often applied

to the fi nance lease of an asset.

Your company wishes to accumulate a fund of $300,000 over the

next 18 months in order to open a second location. At the end of

each month, a fi xed amount will be invested in a money market

savings account with an investment dealer. What should the

monthly investment be in order to reach the savings objective, as-

each payment period. Often applied to loan calculations, etc.

Annuity due (BGN):

BGN appears on the display. A regular cash fl ow (payment) is

pending on the regular cash fl ow (payment) conditions.

Ordinary annuity (END):

This is the default setting for fi nancial calculations. BGN is not

displayed. A regular cash fl ow (payment) is received at end of

Specifying payments due (

This calculator can select ordinary annuity or annuity due de-

s

to exit the P/Y and C/Y settings.

.

w

12

Q

P/Y=

1200

.

b

000

PMT = ?

N = 18

PV = 0

I/Y = 3.6%

......

FV = $300,000

1

.

.

"

)

28

29

(BGN is displayed).

Set the number of pay-

ments per year to 12.

default values.

Set to annuity due

Set all the variables to

Procedure Key operation Display

PMT = –$145

Your company wishes to obtain a computer system with a value of

$2,995. The same system may be leased for 24 months at $145 per

month, paid at the beginning of each month. At the end of the lease,

the system may be purchased for 10% of the retail price. Should

you lease or purchase the computer if you can obtain a two-year

loan at 7.2%, compounded monthly, to purchase the computer?

Annuity due

PV = $2,995

2

Answer: The monthly investment should be $16,245.70.

Calculate payment.

Enter the annual inter-

est rate.

Set the present value to

zero.

Enter the future value.

Enter the total number

of payments.

Procedure Key operation Display

.

w

12

Q

P/Y=

1200

.

"

000

.

b

000

N = 24

I/Y = ?%

......

FV = $2,995 × 10% = $299.5

@

u

PMT=

3.6

f

3.6~I/Y

0

v

—~PV

-1624570

360

000

300000

T

3—————~FV

s

18

N

18~N

30000000

1800

PMT = –$200

company. On a fi ve-year lease with payments of $200 at the

beginning of each month, the machine has a trade-in value of

$1,500 with 34 monthly payments remaining. If your company

sells the machine at the present value of the lease, discounted

at an annual interest rate of 18%, compounded monthly, how

much should your company charge for the machine?

Your client wishes to buy a machine currently leased from your

Answer: If you lease the computer system, the annual interest

Calculating the present value of a lease with

3

cost-effective to lease a computer system than to

purchase one.

rate would be 7.08%, which is less than that of the

interest rate on a two-year loan, so it would be more

Calculate the annual

interest rate.

Enter the present value.

Enter payment.

Enter the future value.

Procedure Key operation Display

s

The number of compounding periods per year is automatically set to

12. Press

Enter the total number

of payments.

30

N = 34

......

FV = –$1,500

I/Y = 18%

PV = ?

trade-in value

@

f

I/Y=

708

2995

v

2995~PV

299500

,

145

u

(-145)~PMT

-14500

2995

%

T

x

10

.

ANS~FV

29950

s

24

N

24~N

2400

to exit the P/Y and C/Y settings.

31

charges a 5.5% APR, compounded monthly, on a 25-year loan.

If you can afford a monthly payment of $900, how much can you

borrow? How much do you need for a down payment?

You wish to buy a house for $180,000. The fi nance company

Answer: $6,279.95 should be charged for the machine.

Calculate the present

value.

Enter the future value.

Calculating down payment and amount to

Enter the annual inter-

est rate.

Enter payment.

Enter the total number

of payments.

Set to annuity due

(BGN is displayed).

Set the number of pay-

ments per year to 12.

The number of compounding periods per year is automatically set to

12. Press

default values.

Set all the variables to

Procedure Key operation Display

PMT = –$900

N = 12 × 25 years = 300

......

I/Y = 5.5%

FV = 0

PV = ?

borrow

4

@

v

PV=

,

1500

T

(-15——)~FV

18

f

18~I/Y

,

200

u

(-2——)~PMT

s

to exit the P/Y and C/Y settings.

s

34

N

34~N

.

w

12

Q

P/Y=

.

"

.

b

-150000

627995

1800

-20000
3400

1200

000

000

Answer: You can borrow $146,558.92 in total. The price of the

Calculate the down

payment.

est rate.

Set the future value to

zero.

Calculate the present

value.

Enter the annual inter-

Enter payment.

Enter the total number

of payments.

The number of compounding periods per year is automatically set to 12.

Press

Make sure ordinary annuity is set (BGN is not displayed).

Set the number of pay-

ments per year to 12.

default values.

Set all the variables to

house is $180,000, so:

Down payment = $180,000 – present value

= $180,000 – $146,558.92

You need $33,441.08 for a down payment.

s

f

180000

v

=

-

18————-PV=

@

v

PV=

14655892

3344108

0

T

—~FV

000

5.5

f

5.5~I/Y

-90000

550

N

,

900

u

(-9——)~PMT

30000

s

to exit the P/Y and C/Y settings.

s

25

.

<

ANS~N

.

w

12

Q

P/Y=

1200

.

b

000

Procedure Key operation Display

32

33

7. Display values for BALANCE,

automatically.

by pressing

6. Press
and press

5. Enter a value for “AMRT P1”

4. Press

tion calculation.

• Confi rm the values of N, I/Y, PV, PMT, FV, P/Y and C/Y.

3. Enter the appropriate numeric values for the variables used

in the TVM solver.

2. Select ordinary annuity or annuity due using

• All the TVM solver variables retain their previously entered

values. If you wish to clear all the data, press

1. Press

• Make sure the calculator is in NORMAL mode.

Basic operations

Refer to page 19 for basic variable operations.

• AMRT P1 and AMRT P2 must be between 1 and 9,999.
automatically, so no default values are set.

• BALANCE,



INTEREST Interest paid over the specifi ed periods —



PRINCIPAL Principal paid —

BALANCE Remaining balance after payment —

AMRT P1 Start of payment (nth time) 1

AMRT P2 End of payment (nth time) 1

Variables used in amortization

Variable Description Default value

Note: Prior to using amortization, you need to enter values into

TVM variables.

Amortization Calculations

Calculate and create amortization schedules using values

stored in the TVM solver.

i

Q

i

once for each. Each value is calculated

, enter a value for “AMRT P2” and press

.



PRINCIPAL and



INTEREST

Q

.

100

*

to use amortiza-

AMRT P1=

.

.

"

b

.

.

s

to clear the display.



PRINCIPAL and



INTEREST are calculated

Enter 5 (December) for

the ending payment.

Display the remaining

balance.

Change to amortization

calculation and enter 1

(August) for the starting

payment.

2. Calculate the amortization schedule for the fi rst year.

Procedure Key operation Display

Now generate an amortization schedule for the fi rst 5 years of the

loan. If the fi rst payment is in August, the fi rst year has 5 payment

periods and the following years have 12 payment periods each.

Answer: The monthly payment is $616.56.

Set TVM solver vari-

ables and calculate

payment.

Make sure ordinary annuity is set (BGN is not displayed).

default values.

Set all the variables to

Procedure Key operation Display

9. Repeat steps 5 to 7 above.

1. Calculate the monthly payment of a 20-year loan with a loan

amount of $90,000 and a 5.45% APR.

Calculating mortgage payments and generat-

• To end amortization calculations, press

during entry will clear the value entered.

calculated and displayed.

• If you press

the values for the next period of payment will be automatically

8. Press

schedule.

i

BALANCE=

8895148

500

i

5

Q

AMRT P2=

AMRT P1=

100

*

1

Q

u

T

5.45

f

@

.

s

N

20

90000

w

.

12

v

Q

<

0

PMT=

-61656

.

b

000

1

ing an amortization schedule

s

. Pressing

s

@

during “AMRT P1” and “AMRT P2” entry,

i

to calculate the next period of the amortization

34

35

5. Repeat the above operation for the fourth and fi fth years.

Display the interest

paid.

Display the principal

paid.

Display the remaining

balance.

12 months automati-

cally.

Change amortization

schedule to the third

year and enter the next

4. Calculate the amortization schedule for the third year.

Display the interest

paid.

Display the principal

paid.

Display the remaining

balance.

Enter 17 (December)

for the ending payment.

ary) for the starting

payment.

Change amortization

schedule to the second

year and enter 6 (Janu-

3. Calculate the amortization schedule for the second year.

Display the interest

paid.

Display the principal

paid.

i

ÍINTEREST=

-463701

i

ÍPRINCIPAL=

-276171

i

BALANCE=

8357421

AMRTP2=

i

@

i

Procedure Key operation Display

i

ÍPRINCIPAL=

i

6

Q

Procedure Key operation Display

i

ÍINTEREST=

-203428

-104852

Procedure Key operation Display

i

ÍINTEREST=

-478316

i

ÍPRINCIPAL=

-261556

i

BALANCE=

8633592

i

17

Q

AMRTP2=

AMRT P1=

2900

1700

600

Answer: The balloon payment after the 48th period would be

paid over 48 months.

payment)

Display the principal

paid over 48 months.

Display the interest

Enter 48 (December)

for the ending payment.

Display the balance af-

ter 48 months. (balloon

Now generate an amortization schedule from the fi rst to the

Change to amortization

calculation and enter 1

for the starting payment.

48th payments.

Procedure Key operation Display

Answer: The monthly payment is $3,844.57.

ables and calculate

payment.

Make sure ordinary annuity is set (BGN is not displayed).

Set TVM solver vari-

default values.

Set all the variables to

Procedure Key operation Display

payment due, what amount of monthly payment must you make

with monthly compounding and how much will the balloon pay-

ment be?

You have taken out a 30-year loan for $500,000, with an annual

interest rate of 8.5%. If, after the 48th period, you want a balloon

Calculating payments, interest, and loan bal-

$482,755.24.

i

ÍINTEREST=

-16729460

i

ÍPRINCIPAL=

-1724476

i

BALANCE=

48275524

4800

i

48

Q

AMRT P2=

*

1

Q

AMRT P1=

100

u

T

8.5

f

@

.

s

N

30

500000

w

.

12

Q

<

v

0

PMT=

-384457

s

.

b

000

2

ance after a specifi ed payment

36

37

–

,

gram.

Enter cash fl ow data according to the following cash fl ow dia-

• Press

• Frequency values must be integers between 1 and 999.

Entering cash fl ow data

• If you wish to correct a value before pressing

s

value is counted as two.

item, while a cash fl ow value with an associated frequency

• You can enter a total of up to 100 cash fl ow and/or statistical

data items. A single cash fl ow value is counted as one data

shown on the display. Press

• Make sure the calculator is in NORMAL mode. It is not pos-

sible to enter cash fl ow data when listed fi nancial variables are

previously entered cash fl ow data.

Repeated cash fl ows

Cash fl ow value

Notes:

• Before entering data, press

Entering cash fl ow data

To fi nd NPV and IRR using discounted cash fl ow analysis, enter

cash fl ow data, one data item at a time, in the following format:

Single cash fl ows

Cash fl ow value

Note: Use the TVM solver for equal and regular cash fl ow

Discounted Cash Flow Analysis

Analyze unequal cash fl ows and calculate the net present value

(NPV) and the internal rate of return (IRR).

to delete the entry and enter the correct value.

$25

000

$7,000 $9,000 $5,000 $5,000

s

to exit.

$8,000

J

, press

,

to enter a negative cash fl ow (outfl ow).

>

.

b

to clear any

>

frequency value

J

J

analysis (see page 22).

Frequency

identifier

Cash flow

identifier

Press

The data is displayed in order by data item (identifi er, number,

and value).

Use

data set.

z

>

/

i

to display any previously entered cash fl ow data.

to display a data item from a previously entered

Confi rming and editing data

Confi rming data

lator display notation settings.

The format of the data set (cash fl ow and frequency values)

*

2

number, which is initially set to “0.00,” is dependent on calcu-

If there is cash fl ow data stored, press

*

clear it.

1

Enter cash fl ow data.

Procedure Key operation Display

Bring up the initial dis-

play in NORMAL mode.

38

100

Frequency

value

CF N—=

number

-2500000

Cash flow

value

Data set

CF D—=

number

Data set

>

.

b

to

8000

J

DATA SET:CF

400

5000

>

2

J

DATA SET:CF

300

9000

J

DATA SET:CF

200

7000

J

DATA SET:CF

100

,

25000

J

DATA SET:CF

000

*

2

s

*

1

000

39

–

Display previously

entered cash fl ow data.

(Example on page 37)

Procedure Key operation Display

$25,000

$7,000 $9,000 $5,000 $5,000 $8,000

Chart A

Currently the cash fl ow data is that shown in chart A. Change it

according to chart B.

Correcting cash fl ow data

Inserting data

Using the

insert your new data by displaying the value that is to come

directly after, and then press

a cash fl ow value of zero and a frequency value of one will be

inserted. Modify the new data set to include your data.

z

and

Editing data

Deleting data

• If you wish to delete all data, press

• If a cash fl ow value/frequency is deleted, the corresponding

frequency/cash fl ow value is also deleted.

• Display the data item to be deleted by using

press

• If a frequency value is set to zero, then the associated data

set is deleted.

• Display the data item you wish to modify by using

enter a new value and press

.

?

• Each data item is displayed in the form CF Dn= (cash fl ow

number.

value) or CF Nn= (frequency), where n indicates the data set

• Press

data item, respectively.

.

z

s

i

.

or

.

keys, specify the correct place to

>

.

i

J

–$30,000

to jump to the fi rst or the last

$7,000 $9,000 $6,000 $5,000 $8,000

e

.

.

. A new data set with

b

CF D—=

Chart B

z

.

-2500000

/

i

, and

z

/

i

,

• Make sure the calculator is in NORMAL mode.

Refer to page 19 for basic variable operations.

1. Press

s

to clear the display.

Basic operations

The interest rate that gives a net present value of zero.

The total present value of all cash fl ows, including cash paid out

(outfl ows) and cash received (infl ows). A profi table investment is

indicated by a positive NPV value.

Internal rate of return (IRR):

NPV and IRR

The calculator solves the following cash fl ow values:

Net present value (NPV):

• The BGN/END setting is not available for discounted cash fl ow

analysis.

• The variable RATE (I/Y) is shared by the variable I/Y. NET_PV

is for calculation only and has no default value.

NET_PV Net present value (NPV) —

RATE (I/Y) Internal rate of return (IRR) 0

Variables used in discounted cash fl ow analysis

Variable Description Default value

data item and press

To confi rm the corrections, press

(6000) immediately

before 5000.

of 5000 from 2 to 1.

Add a new data set

Change the fi rst cash

fl ow value from –25,000

to –30,000.

Change the frequency

Procedure Key operation Display

i

.

i

i

,

to browse through each data item.

.

z

e

6000

J

i

i

i

i

1

i

J

30000

J

40

to jump to the fi rst

CF D3=

CF N3=

600000

100

CF D—=

-3000000

41

–

Bring up the initial dis-

play in NORMAL mode.

1. Enter cash fl ow data.

year. At what IRR does the net present value of the cash fl ows

equal zero?

$5,000 for the second to fourth years, and $4,000 for the fi fth

Your company pays $12,000 for a new network system, and

expects the following annual cash fl ows: $3,000 for the fi rst year,

Note: If “Error 5” is displayed in step 4, or if you want to fi nd

To obtain IRR:

Press

and

press

4. To fi nd NPV or IRR, do the following:

To obtain NPV:

Enter the interest rate (discounted rate) into RATE(I/Y) and

3. Press

2. Enter cash fl ow data.

Solving for unequal cash fl ows

Procedure Key operation Display

1

another IRR, enter an estimated value into RATE(I/Y) and

calculate again in step 4.

$12,000

@

to calculate IRR (RATE(I/Y)).

@

Q

.

. Move to NET_PV and calculate by pressing

• If a previously entered cash fl ow value is displayed, press

s

to exit and then press

$3,000 $5,000 $5,000 $5,000

• Refer to page 37 for instructions on entering cash fl ow data.

.

<

to begin discounted cash fl ow analysis.

s

*

1

.

<

.

$4,000

000

i

fi ve-year product life (from Year 4 to Year 8) are projected to be

$80,000. The salvage value of the manufacturing equipment at

the end of Year 8 is $20,000. Given a 12% discount rate, should

your company proceed with the product development?

Your company has prepared forecasts for the development costs

and operating profi ts of the next generation of your product.

Development costs for each of the next three years (Years 1 to

3) will be $50,000. Manufacturing equipment costing $100,000

will be purchased at the end of Year 3. Annual profi ts for the

Answer: The net present value of the cash fl ows equals zero at

Calculating the present value of variable cash

2

an IRR of 23.14%.

fl ows

Select discounted cash

fl ow analysis, and set all

the variables to default

values.

Calculate IRR (RATE

(I/Y)).

2. Calculate IRR.

If there is cash fl ow data stored, press

*

1

Return to the initial dis-

play in NORMAL mode.

Enter cash fl ow data.

clear it.

Procedure Key operation Display

Procedure Key operation Display

42

@

RATE(I/Y)=

2314

000

.

<

.

b

RATE(I/Y)=

>

.

b

to

s

000

4000

J

DATA SET:CF

300

5000

>

3

J

DATA SET:CF

200

3000

J

DATA SET:CF

100

,

12000

J

DATA SET:CF

000

43

Answer: As NPV = 6,627.52 > 0, the product can be developed.

(NET_PV).

values.

Calculate NPV

Enter the discount rate.

Select discounted cash

fl ow analysis, and set all

the variables to default

2. Calculate NPV.
clear it.

Procedure Key operation Display

If there is cash fl ow data stored, press

*

1

Return to the initial dis-

play in NORMAL mode.

Enter cash fl ow data.

Bring up the initial dis-

play in NORMAL mode.

1. Enter the cash fl ow data.

Procedure Key operation Display

–$50,000

–$50,000

–$100,000

–$50,000

i

@

NET_PV=

662752

1200

12

Q

RATE(I/Y)=

.

<

.

b

RATE(I/Y)=

000

>

.

b

000

to

s

60000

J

DATA SET:CF

300

80000

>

4

J

DATA SET:CF

200

,

150000

J

DATA SET:CF

100

,

J

50000

>

2

DATA SET:CF

000

s

*

1

000

$80,000 $80,000 $80,000 $80,000 $80,000

–$20,000

not displayed). The calendar range is from January 1, 1901 to

December 31, 2099.

years) and a 360-day calendar (12 months of 30 days each)

using

Setting the day-count method

You can toggle between the actual calendar (365 days plus leap

.

&

coupon amount is paid in two equal payments six months

apart. The date on which a coupon payment is made is

called the “coupon date.” The bond maturity date is usu-

ally the last coupon date.

one payment of the coupon amount each year. Some

bonds have semi-annual coupons. For these, each year’s

For bonds that have annual coupons, the owner receives

Per $100 par value.

Note: Bonds are associated with payment methods known as

*

4

You can only enter “1” or “2” — “1” for annual coupons and “2”

*

3

*

*

2

ACCU INT Accrued interest —

1

YIELD (I/Y) Yield to maturity (%) 0

PRICE (PV) Bond price 0

CPN/Y (N) Number of coupons per year 1

M-D-Y 2 Redemption date 1-1-2001

M-D-Y 1 Settlement date (date of bond pur-

COUPON (PMT) Annual coupon rate (%) 0

REDEMPT (FV) Redemption value 0

maturity, and accrued interest.

Variables used in bond calculations

Bond Calculations

Using bond calculations, you can obtain bond prices, yields to

Redemption value of the security per $100 par value.

You can change the date format to D-M-Y (see page 10).

for semi-annual coupons.

Variable Description Default value

coupons. A coupon is like an “interest-only payment,” and

it is based on the future value of the bond. COUPON is

a percentage of the bond par value, usually annually, by

the owner of the bond.

*

2

*

3

*

2

44

. The actual calendar is set by default (360 is

chase)

*

4

*

1

1-1-2001

45

yield, YIELD (I/Y) and calculate by pressing

the accrued interest (ACCU INT) by pressing

accrued interest is calculated automatically.

Move to PRICE (PV) and enter the bond price by pressing

i

9. To fi nd bond price or yield to maturity, do the following:

To obtain bond price (PRICE (PV)):

Enter annual yield (%) into YIELD(I/Y) by pressing

ing the value, and pressing

calculate by pressing

interest (ACCU INT) by pressing

calculated automatically.

To obtain yield to maturity (YIELD (I/Y)):

8. Enter the number of coupon payments per year into CPN/Y

7. Enter the redemption date into M-D-Y 2 (or D-M-Y 2) by

6. Enter the date of bond purchase into M-D-Y 1 (or D-M-Y 1)

5. Enter the redemption value into REDEMPT (FV) by pressing

4. Enter the coupon rate (%) into COUPON (PMT) by entering

3. Change the day-count setting, if necessary, by pressing

2. Select bond calculations by

1. Press

Basic operations

Refer to page 19 for basic variable operations.

z

i

@

i

. Display

. The

, entering the value, and pressing

i

Q

. Move to annual

i

. The accrued interest is

i

and

Q

@

. Move to PRICE (PV) and

. Display the accrued

i

, enter-

(N) by pressing

i

, entering the value, and pressing

Q

• For date entry, refer to page 47, ”Entering dates”.

pressing

i

, entering the date, and pressing

Q

.

by pressing

• For date entry, refer to page 47, ”Entering dates”.

i

, entering the date, and pressing

Q

.

i

, entering the value, and pressing

Q

.

the value and pressing

Q

.

.

&

.

• If you press

cleared.

s

during entry, any entered values will be

pressing

• To end bond calculations,

press

s

.

#

.

COUPON(PMT)=

000

• Make sure the calculator is in NORMAL mode.

s

to clear the display.

.

The asking price on the above bond is $92.50. What will your

yield be?

interest would be $94.64).

Answer: The bond sold at $93.23 and the accrued coupon

interest.

interest was $1.41 (the bond price including accrued

Calculate bond price

including accrued

Calculate the accrued

interest.

Bring up the initial dis-

play in NORMAL mode.

Select bond calcula-

tions.

Make sure the actual calendar is set (360 is not displayed).

Enter the coupon rate

(%).

Enter the redemption

value.

Enter the settlement

date.

Enter the redemption

date.

Enter the number of

coupon payments per

year.

Enter the annual yield

(%).

Calculate bond price.

interest.

Procedure Key operation Display

Calculating bond price and accrued interest

A $100, 20-year, 6.5% coupon bond is issued to mature on

August 15, 2023. It was sold on November 3, 2006 to yield the

purchaser 7.2% compounded semiannually until maturity. At

what price did the bond sell? Also calculate the accrued coupon

46

s

i

i

/

v

=

+

PV+ANS=

9464

i

ACCU INT=

141

i

@

PRICE(PV)=

9323

720

i

7.2

Q

YIELD(I/Y)=

CPN/Y(N)=

200

i

2

Q

i

08152023

Q

M-D-Y 2=[TU]

8-15-2023

i

11032006

Q

M-D-Y 1=[FR]

11- 3-2006

i

100

Q

REDEMPT(FV)=

6.5

Q

COUPON(PMT)=

10000

650

#

s

COUPON(PMT)=

000

000

47

backspace key.

• If you wish to correct numbers during entry, use

appropriate date, and press

before you pressed

• Press

• Press

the appropriate date, and press

the week will be displayed.

• After entry, the date will be stored and the abbreviated day of
fi rst “2” may be omitted. From 1901 to 1989, the “9” following

the fi rst “1” may be omitted.

Enter two digits. From 4 to 9, the preceding zero may be omitted.

Year entry

Enter four digits. From 2010 to 2099, the zero following the

Month entry

Enter two digits. From 2 to 9, the preceding zero may be omitted.

Day entry

• The default value for dates is: January 1, 2001 (1-1-2001).

• If an inappropriate date is entered (e.g., February 31), an error

In this case, follow either of the following procedures:

message (Error 7) will appear immediately after pressing

• The effective range of dates is: January 1, 1901 to December

31, 2099.

• [SU]: Sunday, [MO]: Monday, [TU]: Tuesday, [WE]: Wednes-

day, [TH]: Thursday, [FR]: Friday, [SA]: Saturday.

Refer to the following notes for date entry.

• Enter using US date format (MM-DD-YYYY) or EU date for-

mat (DD-MM-YYYY). Refer to the previous example and the

following explanation.

Answer: The yield will be 7.28%.

Entering dates

Calculate the yield.

to $92.50.

Change the bond price

Procedure Key operation Display

Q

again.

L

as a

g

/

y

s

to return to the display before the entry, enter

to go back to the display that was shown

Q

. Press

s

or

Q

.

L

, enter the

Q

#

i

Q

z

@

YIELD(I/Y)=

i

i

i

i

92.5

i

PRICE(PV)=

9250

728

.

• Make sure the calculator is in NORMAL mode.

Refer to page 19 for basic variable operations.

1. Press

s

Basic operations

~

2

2

~

2

1

~

2

Key operation Description

0

DB (I/Y) appears only when you select DB (declining balance

Setting the depreciation method

• Select the depreciation method in the SET UP menu. It is

method) for the depreciation method.

*

initially set to SL.

RDV Remaining depreciation value —

1

SALVAGE (FV) Salvage value 0

YEAR

START MONTH Starting month 1

COST (PV) Cost of asset 0

DB (I/Y) Interest per year 0

LIFE (N) Years of depreciation 1

*

1

DEPRECIATE Depreciation value of above year —

RBV Remaining book value —

Variables used in depreciation calculations

Variable Description Default value

the declining balance method.

Depreciation Calculations

Using depreciation calculations, you can obtain depreciation

base values using three types of calculation methods: the

straight-line method, the sum-of-the-years’ digits method, and

48

to clear the display.

SL (Straight-line method)

SYD (Sum-of-the-years’ digits method)

DB (Declining balance method)

Year for calculating depreciation value

1

49

12. To calculate depreciation value for another year, press

11. Calculate the remaining depreciation by pressing

three times to go back to YEAR, enter a value for the new

year, and recalculate.

9. Calculate depreciation for the year by pressing

10. Calculate the remaining book value by pressing

•
This value must be a positive integer

pressing

•
The year for calculating depreciation value

Pressing

8. Enter

7. Enter the salvage value into SALVAGE (FV) by pressing

entering the value, and pressing

entering the value, and pressing

6. Enter the cost of asset into COST (PV) by pressing

value of the given date divided by the total number of days

in the month.

• You can enter values between 1 and 13.

• Generally, it is not necessary to enter a decimal value.

However, if you wish to enter, for example, the middle of

July, enter 7.5; where the decimal is equal to the number

5. Enter the starting month into START MONTH by pressing

i

2. Select the depreciation method (see page 48).

4. Enter the number of years of depreciation into LIFE (N) by

pressing

• When using the straight-line method, the value should be a

positive real number, while for the SYD or DB methods, it

should be a positive integer.

• To end depreciation calculations, press

s

pears. Enter the number and press

• When using the declining

balance method, DB (I/Y) ap-

3. Select depreciation calculations

by pressing

i

z

.

i

i

.

.

.

@

increments this number by 1.

is initially 1.

the year for calculating depreciation value

i

, entering the value, and pressing

Q

.

into YEAR by

Q

.

Q

.

i

i

,

, entering the value, and pressing

Q

.

during entry, any entered values will be cleared.

i

, entering the value, and pressing

Q

s

.

. If you press

Q

.

O

.

SL

----------

,

Answer: At the third year, the depreciation amount is $50,000,

depreciation value.

book value.

Calculate the remaining

for the year.

Calculate the remaining

lating depreciation value

Calculate depreciation

Enter t

Enter the salvage value.

Bring up the initial

display in NORMAL

mode, and select the

straight-line deprecia-

tion method.

Select depreciation

calculations.

Enter the number of

years of depreciation.

Enter the starting

month.

Enter the cost of asset.

using the straight-line depreciation method.

Calculating straight-line depreciation

In April, your company begins depreciation of a commercial

building with a 30-year life and no salvage value. The building

costs $1,500,000. Calculate the depreciation amount, remaining

book value and remaining depreciable value for the third year

the remaining book value is $1,362,500, and the re-

maining depreciable value is $1,362,500.

i

RDV=

136250000

i

RBV=

DEPRECIATE=

136250000

5000000

i

he year for calcu-

.

i

3

Q

YEAR=

i

0

Q

SALVAGE(FV)=

i

1500000

Q

COST(PV)=

i

4

Q

START MONTH=

150000000

i

30

Q

LIFE(N)=

O

SL

----------

s

~

2

0

Procedure Key operation Display

50

300

000

400

3000

000

51

Convert this rate

back to the origi-

nal APR.

12

>

19.56

.

!

rate for twelve

compounding

periods with an

18% APR.

Calculate the

effective interest

Procedure Key operation Display

s

12

>

18

.

P

Converting between APR and EFF

• To change EFF to APR:

Number of compounding periods per year

interest rate

Number of compounding periods per year

percentage rate

2. Enter the calculation data in the following format:

• To change APR to EFF:

in NORMAL mode.

.

.

!

P

Basic operations

1. Press

pounding happens more often than once a year. It refl ects the

actual amount of return for a given nominal rate. For example,

if your investment compounds monthly, then the stated nomi-

nal percentage rate becomes a monthly rate, and the EFF

refl ects your actual annual rate of return.

s

to clear the display. Make sure the calculator is

• The EFF is an investment’s annual rate of interest when com­on a bond is an example of an APR.

• The APR is an investment’s annual rate of interest when com-

pounding happens only once a year. The interest rate printed

Conversion between APR and EFF

Interest rates can be converted between APR (annual, or nomi-

nal percentage rate) and EFF (effective interest rate).

12,19.56¬APR

1800

12,18¬EFF

1956

>

Effective

>

Nominal

• If the calculator is set to 360-day calendar mode (360 is

displayed), it is not possible to obtain either the fi rst or last

dates, only the number of days.

5. Move to the variable you wish to calculate, using the
the last date, or the number of days.

and

i

keys, and press

• For date entry, refer to page 47, ”Entering dates”.

not displayed). The calendar range is from January 1, 1901 to

4. Enter the values of any two known variables: the fi rst date,

3. Change the day-count method, using

sary.

s

during entry, any entered values will be cleared.

• To end day and date calcula-

tions, press

s

2. Select day and date calcula-

tions by pressing

1. Press

• Make sure the calculator is in NORMAL mode.

s

to clear the display.

Basic operations

Refer to page 19 for basic variable operations.

December 31, 2099.

years) and a 360-day calendar (12 months of 30 days each)

using

.

&

. The actual calendar is set by default (360 is

Setting the day-count method

You can toggle between the actual calendar (365 days plus leap

You can change the date format to D-M-Y (see page 10).

*

DAYS Number of days 0

1

M-D-Y 1 The fi rst date 1-1-2001

M-D-Y 2 The last date 1-1-2001

*

*

1

1

Variable Description Default value

Variables used in day and date calculations

numbers of days between dates.

Day and Date Calculations

Using day and date calculations, you can fi nd dates and the

52

@

to calculate.

z

. If you press

.

&

, if neces-

1- 1-2001

K

.

M-D-Y 1=[MO]

53

Move to DAYS and en-

ter the number of days.

Answer: 228 days

Find the date 100 days after November 13, 2010 (using US date

Bring up the initial dis-

play in NORMAL mode.

Select day and date

calculations, and set all

the variables to default

values.

Make sure the actual calendar is set (360 is not displayed).

Enter the fi rst date.

format and the actual calendar).

• If the 360-day calendar is selected, the answer will be 225 days.

Move to DAYS and

calculate.

Enter the last date.

Enter the fi rst date.

Make sure the actual calendar is set (360 is not displayed).

values.

Select day and date

calculations, and set all

the variables to default

Bring up the initial dis-

play in NORMAL mode.

dar).

Calculate the number of days between December 25, 2008 and

August 10, 2009 (using US date format and the actual calen-

i

i

100

Q

DAYS=

11-13-2010

1113210

Q

M-D-Y 1=[SA]

K

.

b

M-D-Y 1=[MO]

1- 1-2001

s

Finding a date

Procedure Key operation Display

2

i

@

DAYS=

8-10-2009

i

8102009

Q

M-D-Y 2=[MO]

M-D-Y 1=[TH]

12-25-2008

12252008

Q

1- 1-2001

K

.

b

M-D-Y 1=[MO]

Procedure Key operation Display

s

Calculating number of days

1

10000

000

22800

000

4. Move to the variable you wish to calculate, using the

3. Enter the values of any three known variables: old price, new

2. Select percent change/ com-

Refer to page 19 for basic variable operations.

1. Press

Basic operations

% (I/Y) Percent change 0

PERIODS (N) Number of compounding periods 1

OLD PRC (PV) Old price (old value) 0

NEW PRC (FV) New price (new value) 0

Variables used in percent change/compound interest

calculations

decrease) or interest rates compounding periodically.

Percent Change/Compound Interest Cal-

culations

Using percent change/compound interest calculations, you can

determine the values of percentage rates of change (increase or

Answer: The last date is February 21, 2011.

Move to the last date

and calculate.

and

i

keys, and press

@

to calculate.

price, percent change, or number of compounding periods.

• If you press

cleared.

s

during entry, any entered values will be

• To end percent change/com-

pound interest calculations, press

s

.

pound interest calculations by

pressing

.

B

.

• Make sure the calculator is in NORMAL mode.

s

to clear the display.

OLD PRC(PV)=

Variable Description Default value

Procedure Key operation Display

z

@

M-D-Y 2=[MO]

2-21-2011

54

000

z

55

Bring up the initial dis-

play in NORMAL mode.

Select percent change/

compound interest

calculations, and set all

the variables to default

values.

Enter the old value.

the compound interest rate?

You opened an account compounding annually and deposited

$8,000 eighteen years ago. You currently have $9,800. What is

Answer: The second year’s sales increased by 54.67% over

Calculate the percent

change.

Enter the new value.

Bring up the initial dis-

play in NORMAL mode.

Select percent change/

compound interest

calculations, and set all

the variables to default

values.

Enter the old value.

(default).

Sales in a company were $75,000 during the fi rst year of opera-

tion. The second year’s sales were $116,000. What percentage

greater were the second year’s sales than fi rst year’s sales?

In this calculation, the number of compound periods is set to 1

8000

Q

OLD PRC(PV)=

OLD PRC(PV)=

800000

.

B

.

b

s

Calculating compound interest rate

Procedure Key operation Display

2

the fi rst year’s sales.

i

@

%(I/Y)=

i

116000

Q

NEW PRC(FV)=

75000

Q

OLD PRC(PV)=

OLD PRC(PV)=

.

B

.

b

Procedure Key operation Display

s

Calculating percent change

1

11600000

7500000

000

000

5467

000

000

• If you press

cleared.

up calculations, press

s

2. Select cost/sell/margin/ markup

calculations by pressing

• To end cost/sell/margin/mark-

• Make sure the calculator is in NORMAL mode.

Refer to page 19 for basic variable operations.

1. Press

s

to clear the display.

Profi t margin (%) is calculated based on selling price.

Basic operations

Markup (%) is calculated based on cost.

*

1*2

MARGIN Profi t margin (%) 0

MARK UP Markup (%) 0

Variables used in cost/sell/margin/markup calcula-

COST Cost 0

SELL Selling price 0

tions

Variable Description Default value

costs, selling prices, margins and markup.

Cost/Sell/Margin/Markup Calculations

Using cost/sell/margin/markup calculations, you can determine

Answer: The compound interest rate is 1.13%.

Calculate the com-

pound interest rate.

Set the number of com-

pound periods to 18.

Enter the new value.

Procedure Key operation Display

56

during entry, any entered values will be

s

.

I

.

COST=

000

z

*

2

*

1

@

%(I/Y)=

i

i

18

Q

PERIODS(N)=

i

9800

Q

NEW PRC(FV)=

980000

1800

113

57

Answer: The selling price should be $888.42.

Calculate selling price.

Enter markup rate.

markup calculations,

and set all the variables

to default values.

Enter cost.

from cost to retail price for each item. A certain sofa costs

Bring up the initial dis-

play in NORMAL mode.

Select cost/sell/margin

$455.60. What should its selling price be?

Procedure Key operations Display

In a furniture business, it is desirable to realize a 95% markup

Determining selling price

4. Move to the variable you wish to calculate, using the

and

“----------”. If you enter a value for MARK UP, MARGIN is set

to “----------”, and vice versa.

i

keys, and press

Because only either MARGIN or MARK UP is used in any

*

MARK UP COST and SELL

1

cost/sell/margin/markup calculation, the unused variable

is given a value of “----------”. Initially, MARK UP is set to

SELL COST, and MARGIN or MARK UP

MARGIN COST and SELL

COST SELL, and MARGIN or MARK UP

3. Enter the values of any two known variables as follows:

Unknown variable Known variables

i

Q

z

z

@

SELL=

i

i

95

MARKUP=

88842

9500

COST=

45560

455.6

Q

000

I

.

b

COST=

s

000

@

to calculate.

z

*

*

1

1

and the fi xed costs total $15,000. What is the breakeven point

Bring up the initial dis-

play in NORMAL mode.

for this product?

3. Enter the values of any four known variables.

Your company has developed a new product and plans to sell it

at a price of $120 per unit. The variable cost per unit is $75.80

Calculating the breakeven point

4. Move to the variable you wish to calculate, using the

Refer to page 19 for basic variable operations.

2. Select breakeven calculations

1. Press

Basic operations

PROFIT Profi t 0

QUANTITY Quantity 0

VARIABLE Variable cost per unit 0

PRICE Unit price 0

FIXED Fixed cost 0

Variables used in breakeven calculations

able cost per unit, unit price, profi t and quantity.

Breakeven Calculations

Using breakeven calculations, you can calculate fi xed cost, vari-

s

and

Procedure Key operation Display

i

keys, and press

@

to calculate.

• If you press

cleared.

tions, press

s

s

.

during entry, any entered values will be

by pressing

• To end breakeven calcula-

$

.

• Make sure the calculator is in NORMAL mode.

Variable Description Default value

s

to clear the display.

FIXED=

58

000

000

z

59

Answer: The breakeven point of this product is 339.37 units.

Calculate quantity.

Leave profi t as is.

Enter unit price.

Enter variable cost per

unit.

values.

Enter fi xed cost.

Select breakeven

calculations, and set all

the variables to default

Procedure Key operation Display

i

@

QUANTITY=

i

PROFIT=

33937

000

i

120

Q

PRICE=

12000

i

75.80

Q

VARIABLE=

7580

15000

Q

FIXED=

FIXED=

1500000

000

$

.

b

ANS =

44

+

37 = ANS

44

.

+

}

37

=

=

ANS

8

×

2 = ANS

2

=

8

.

x

;

2

=

=

6

ANS

+

4 = ANS

+

5 =

s

+

6

5

+

=

4

=

multiple instructions.

Example Key operation Result

Chain Calculations

A calculation result (ANS memory) can be used in a subse-

quent calculation. However, it cannot be recalled after entering

• In constant calculations, constants will be displayed as .
tion, the multiplicand becomes a constant.

• In constant calculations, the addend becomes a constant.

Subtraction and division behave the same way. For multiplica-

68

×

40 =

40

=

68

×

25 =

68

x

25

=

45

+

57 =

45

=

34

+

57 =

s

34

+

57

=

• Scientifi c calculations can also be performed in STAT mode.

Constant Calculations

s

Example Key operation Result

to clear the display.

• The examples in this chapter are all performed under the SET

UP menu’s default settings. Before starting calculation, press

immediately after completing the calculation.

• When a listed fi nancial variable is displayed, you can enter

the result of a scientifi c calculation into it by pressing

select NORMAL mode and perform scientifi c calculations.

• For basic calculations, see page 11.

This calculator has a variety of functions. Press

Scienti c Functions

m

Chapter 4

60

8100

900

25600

1500

1600

1000

170000

272000

10200

9100

Q

0

to

61

49 –

4

81 =

(12

3

)

1

4

–

=

8

–2

– 3

4

×

5

2

=

— + — =

1

6

1

7

e
=

(cosh 1.5

5

sinh 1.5)

Example Key operation Result

2

=

+

7

tanh

–1

— =

log 50 =

In 20 =

10

3

1.7

=

GRAD –100

RAD

DEG –90

• The range of the results of inverse trigonometric functions

tan

–1

1 [°] =

tan

–1

1 [g] =

cos — [rad] =

4

sin 60 [°] =



Scientifi c Calculations

Example Key operation Display

.

81

=

}

49

-

4

.

:

400

12

.

.

;

@

=

3

.

@

4

645

.

=

@

4

x

5

.

;

-202498

8

.

@

,

2

-

3

031

6

=

.

;

+

7

.

;

.

R

3

=

2009

.

:

1.7

=

5012

.

d

20

=

300

.

h

50

=

170

)

.

=

]

7

(

5

8

7

090

.

+

.

;

=

]

{

1.5

)

2009

s

(

.

]

c

1.5







100 0







200

– —

2







—

2

0











= sin

7









90 0









180

–1

x

,



= tan

–1

x



= cos

–1

x

~

1

1

=

0

.

tan

-

|

1=

4500

~

7

1

1

=

2

.

tan

-

|

1=

5000

c

8

4

(

)

.

=

t

~

1

1

.

=

cos(π©4)=

071

087

s

.

{

60

sin60=

further random numbers in succession, press

number. Press

generated by pressing

Random coin

To simulate a coin fl ip, 0 (heads) or 1 (tails) can be randomly

number. Press

be generated by pressing

further random numbers in succession, press

Random dice

To simulate a die roll, a random integer between 1 and 6 can

• To display numbers with three signifi cant digits, set the display

notation settings to “fl oating point”.

0

press

=

=

Random numbers

A pseudo-random number, consisting of three signifi cant digits

from zero up to 0.999, can be generated by pressing

tion of the

30%) =

25%) =

400 – (400

400 is 120?

500

Random Functions

This calculator has four kinds of random functions (the 2nd func-

+

(500

5

What is 25%

of 500?

What

percentage of

2

C
=

10

3

P
=

4! =

Example Key operation Result

62

s

to exit.

=

for each

.

|

2

=

. To generate

s

to exit.

=

for each

.

|

1

=

. To generate

. To generate further random numbers in succession,

for each number. Press

-

key).

s

to exit.

.

|

×

400

-

30

.

%

28000

×

500

+

25

.

%

62500

120

8

400

.

%

3000

5

500

.

x

p

25

2

.

=

%

12500

1000

10

4

.

.

o

q

=

3

=

72000

2400

63

5.5555555555555

*

*

0.56

1

2

×

9

×

10

–1

×

9

[FIX, TAB = 2]

5

.

8

l

9

=

x

9

=

*

2

ANS

5

÷

9 = ANS

×

9 =

x

s

5

9

8

=

*

9

1

=

Example Key operation Result

operations.

the modify function (the 2nd function of the

tion and the number of decimal places indicated, a displayed

calculation result may differ from that held internally. By using

with a mantissa of up to 14 digits. However, because calculation

results are displayed in the form designated by the display nota-

Modify Function

Calculation results are internally obtained in scientifi c notation

• The result will not be the same each time this operation is

between zero and 9.99.

Pick a random number

internal value is converted to match that of the display, so that

the displayed value can be used without change in subsequent

performed.

s

x

.

10

=

|

0

+

Example Key operation Display

Random integer

An integer between 0 and 99 can be generated randomly by

pressing

numbers in succession, press

s

to exit.

.

|

3

=

=

. To generate further random

for each number. Press

056

504

056

500

key), the

RANDOMx1—=

532

• Press

• Switch sub-modes within STAT mode.

from memory by doing either of the following:

.

b

For a two-variable data set:

Note: Before entering data, clear any previously entered data

of the same

x

and

y

values)

x

x

value

value

>

>

y

y

value

value

J

>

value)

Value

Value

J

>

frequency

J

enter your data. In STAT mode, use

key) to enter the following:

For a single-variable data set:

Entering statistical data

Before you can perform statistical calculations, you will need to

m

1

6

INV: Inverse regression

m

1

5

PWR: Power regression

m

m

1

1

3

4

EXP: Exponential regression

LOG: Logarithmic regression

m

m

1

1

1

2

LINE: Linear regression

QUAD: Quadratic regression

m

1

0

SD: Single-variable statistics

to each of the functions below:

Key operation Sub-mode Display

There are seven sub-modes within STAT mode, corresponding

Statistical calculations can be performed in STAT mode. The

Statistical Functions

symbol will be visible if you are in STAT mode.

Chapter 5

64

in STAT mode.

frequency

(To enter multiples of the same

>

J

and

(To enter multiples

J

(the

Stat 6

Stat —

Stat 1

Stat 2

Stat 3

Stat 4

Stat 5

Q

65

The format of the data set (the sample and frequency values)

*

number, which is initially set to “1.00”, is dependent on calcu-

lator notation settings.

If there is data stored in memory, press

*

2

1

STAT mode) to clear it.

Return to the “Stat 0”

display.

Enter the “Stat 0” sub-

Enter statistical data.

mode.

Enter the data in the table to the right using

the “Stat 0” sub-mode.

Entering statistical data

• If you wish to correct a value before pressing
two data items, while a data set with an assigned frequency is

L

counted as three data items.

frequency is counted as one data item, and a data set with

an assigned frequency is counted as two data items. For two-

variable data, a data set without a frequency is counted as

• You can enter a total of up to 100 statistical and/or cash fl ow

data items. For single-variable data, a data set without a

.

b

(within

s

Stat —

50

J

DATA SET=

40

>

2

J

DATA SET=

*

1

30

J

DATA SET=

s

m

1

0

Stat —

Procedure Key operation Display

or

s

to delete the entry, then enter the correct value.

J

50

40

40

DATA

30

, press

000

300

200

100

*

2

000

directly after, and then press

value of zero and a frequency of one will be inserted. Modify the

new data set to include your data.

• If you wish to delete all data, press

Inserting data

Using the

insert your new data by displaying the value that is to come

• If a value/frequency is deleted, the corresponding frequency/

value is also deleted.

press

Deleting data

• Display the data item to be deleted by using
enter a new value and press

Editing data

• Display the data item you wish to modify by using
number.

• Each data item is displayed in the form: “Xn = (

(

y

value)”, or “FRQn = (frequency)”, where “n” is the data set

• Press

data item, respectively.

Confi rming and editing data

• Use

entered data set.

z

and

i

keys, specify the correct place to

.

e

.

. A new data set with a

b

.

.

?

.

z

/

i

J

.

z

x

value)”, “Yn =

.

z

or

.

i

to jump to the fi rst or last

FRQ1=

1100

Frequency

Data set number

Y1=

2000

y value

Data set number

X1=

1000

x value

Data set number

z

/

i

to display a data item from a previously

66

, and

/

i

,

67

Quadratic regression calculation

sion calculations, no correlation coeffi cient

Section

dratic regression formula (

x

for a given



and

y

(estimate



results, and coeffi cients

x

y

=

a

+

´) can also be found.

bx

+

cx

2

). In quadratic regres-

r

can be obtained.

a

,

b

, and

c

in the qua-

Single-variable statistical calculations

Linear regression calculations

Section

The estimate of



and



y

for a given

results, except for coeffi cients

x

(estimate

y

´) and the estimate of

c

.

Section



results only.

tion (refer to the table below):

Add “60”.

60

J

Statistical Calculations and Variables

The following results can be obtained for each statistical calcula-

DATA SET=

Change the “40, 2” data

Delete “50”.

i

.

?

Stat —

set to “45, 3”.

i

i

3

i

J

45

J

FRQ2=

Display the statistical

data.

Procedure Key operation Display

i

X1=

60

50

45

40

45

40

45

30

30

DATA

DATA

Change the previously entered data from page 65 as follows:

Editing statistical data

300

000

300

3000

• Use

mode.

②

①

of

calculator converts each formula into a linear regression before

actual calculation takes place, it obtains all statistics — except

coeffi cients

entered data.

x

for a given

Exponential regression, logarithmic regression, pow-

er regression, and inverse regression calculations

Section

The estimate of

switch between

are two

The estimate of

of

x

for a given

i

or

f

to perform a variable calculation in STAT

b

c

r

Coeffi cient of regression equation

Coeffi cient of quadratic regression equation

Correlation coeffi cient



a

Coeffi cient of regression equation



xy

y

2

Sum of squares of samples (

Sum of products of samples (

y

x

values)

,

y

)





y

Sum of samples (

y

values)

sy

y

Sample standard deviation (

Population standard deviation (

y

values)

y

values)



y

x

2

Sum of squares of samples (

Mean of samples (

y

values)

x

values)





x

Sum of samples (

x

values)

sx

x

Population standard deviation (

Sample standard deviation (

x

values)

x

values)

x

Mean of samples (

x

values)

Variables Content

n

Number of samples

a

and

b

— from converted data rather than from



and

y

(estimate

x

´) can also be found. Because the



y

for a given

results, except for coeffi cients

x

(estimate

y

´) and the estimate

c

.

x

values, the COMP symbol will appear. Press

x

values.

@

y

y

(estimate

for a given

x

´) can also be found. When there

x

(estimate

y

´) and the estimate

68

to

69

—

sx

×

10 + 50 =

4

=

x

10

+

50

(95 –

x

)

(

=

)

95

-

8

i

i

sx

2

=

.

;

=

Sx

Œ=

sx

=

f

4

Sx

=



x

=

f

[

Í≈Œ=



x

2

=

f

U

Í≈=

n

=

f

n

n=

4120000



x

=

f

2

σ

≈

=

x

=

f

=

–

x

=

75

50

50

J

DATA SET=

75

75

75

>

3

J

DATA SET=

80

J

DATA SET=

DATA SET=

80

80

J

DATA

95

95

J

DATA SET=

m

b

1

0

.

Stat —

Single-variable statistical calculation

Example Key operation Result

1

6443

17857

1336

53000

1237

700

7571

500

400

300

200

000

100

y

= 46

x´

= ?

x

= 3

y´

= ?

sy

=

sx

=

r

=

b

=

a

=

15 25

21

40

21

40

21

40

12 24

25

25

Example Key operation Result

DATA

xy

Linear regression calculation

2

70

46x´

3

.

?

3y´

46

.

9

2462

653

f

5

Sy

=

f

4

Sx

=

1567

854

f

b

b

=

183

f

r

r

=

100

f

a

15

>

25

J

DATA SET=

a

=

105

500

21

>

40

>

3

J

DATA SET=

400

12

>

24

J

DATA SET=

300

J

DATA SET=

200

2

>

5

J

DATA SET=

000

100

m

1

1

Stat 1

71

x

y

= 10

= 22

y´

x´

= ?

= ?

c

=

b

=

a

=

15 71

23 200

52

813

12 41

Example Key operation Result

DATA

xy

Quadratic regression calculation

3

@

≈¡=

≈™=

-343

963

@

10

22

.

.

?

9

≈¡=

10y´

2449

963

f

a

c

=

f

b

b

=

-312

050

f

a

15

>

71

J

DATA SET=

a

=

536

500

23

>

200

J

DATA SET=

400

5

>

2

J

DATA SET=

300

8

>

13

J

DATA SET=

200

12

>

41

J

DATA SET=

100

m

1

2

Stat 2

000

I/Y

m

If N = 1 then

IRR is obtained as i, which satis es NPV = 0

in the above equations.

If PMT = 0 then

mum data set number

where i =

RATE(I/Y)

100

CF

TVM solver

Error

ROUND(NUM): If a display notation tab

setting has been chosen, NUM is rounded and

Discounted cash fl ow

analysis

m

Error

AMRT P1 > AMRT P2

truncated to the speci ed number of places

after the decimal point.

Results

BGN INT(1) = 0

PRN(1) = –INT(1) + ROUND(PMT)

BAL(1) = PRN(1) + PV

INT(m) = ROUND(–BAL(m – 1)

PRN(m) = –INT(m) + ROUND(PMT)

BAL(m) = PRN(m) + BAL(m – 1)

(for PV, PMT, and i, see the TVM solver)

END INT(1) = ROUND(–PV

Amortization calculations

Calculations

Error

i –1

lowing equations:

PMT, PV, FV, N

If PMT  0 or N  1 then  nd i using the fol-

Financial Calculation Formulas

Appendix

, CFimax = the maxi-

×

×

i)

i)

+

72

73

FD = TD – PD

For one coupon period or less until redemption of bond:

where CPN = COUPON(PMT), RDV = REDEMPT(FV), N = CPN/Y(N), YIELD = YIELD(I/Y),

PRICE = PRICE(PV).

Yield is obtained as YIELD, which satis es the above equations.

Error

CPN < 0 or RDV < 0 or PRICE < 0 or M-D-Y 1  M-D-Y 2 or YIELD  –100

For more than one coupon period until redemption:

NP: The number of whole coupon periods between the settlement

date and the redemption date (rounded up to the next highest

whole number, if necessary).

period described above (in TD).

3. The “Odd Coupon” is not supported.

The formulas used for bond calculations are shown using the follow-

ing variable defi nitions:

PD: The number of days preceding the settlement date in the cou-

FD: The number of days following the settlement date in the coupon

calendar, TD is 180 for semi-annual coupon and 360 for annual

coupon.)

pon period described above. (see “Day and date calculations”)

TD: Total number of days in the coupon period that begins with the

coupon date previous to the settlement date and ends with the

fi rst coupon date after the settlement date. (On the 360-day

4. All data stored or calculated for bonds are assumed to be posi-

tive values. Negative values in any of the variables used by bond

calculations will cause errors.

2. If coupons are to be paid twice a year and the redemption date

example, if coupon payments are semi-annual and the redemp-

tion date is September 30, coupon payments occur on March 31

is set to August 29, 30, or 31, coupon payments for February

occur on the 28th (29th for leap years).

and September 30.

1. Whenever the redemption date happens to be the last day of a

month, coupons are also paid on the last days of months. For

Bond calculations

In its bond calculations, this calculator conforms to rules set up by

the book titled Standard Securities Calculation Methods, by Jan

Mayle, Securities Industry Association, 1993.

Bond calculation is based on the following rules:

Declining balance method (DB)

Calculations

Results

Sum-of-the-years digits method (SYD)

Calculations

Results

Straight-line method (SL)

If 1 < n < end_year then

Calculations

Depreciation calculations

ROUND(NUM): If a display notation tab

setting has been chosen, NUM is rounded and

truncated to the speci ed number of places

after the decimal point.

In the following equations, M01 = START

MONTH, LIF = LIFE(N), CST = COST(PV),

SAL = SALVAGE(FV), and DB = DB(I/Y).

74

Mayle, Securities Industry Association, 1993.

≤ –100

APR

N

Error

Day and date calculations

In day and date calculations, this calculator

conforms to rules set up in the book titled Stan-

dard Securities Calculation Methods, by Jan

N

,

(( + 1) –1) 100

APR

100

APR

N

¬

EFF

N

(( + 1) –1) N 100

Error

100

EFF  –100

EFF

N

1

Conversion between

APR and EFF

N

,

EFF

¬

APR

I/Y < 0 (DB only)

LIF: when SL, LIF  0

when SYD or DB, LIF is not a positive

integer

Error

CST < 0

SAL < 0

CST < SAL

Results

75

where MAR = MARGIN, MU = MARK UP

Breakeven calculations

Cost/Sell/Margin/Markup

calculations

NEW

×

OLD  0

Error

%CH  –100

Percent change/Compound

where NEW = NEW PRC(FV), OLD = OLD

PRC(PV), %CH = %(I/Y), PD = PERIODS(N)

interest calculations

Actual

DAYS = (Y2 – Y1)

30 + (D2 – D1)

2. Calculate using the following formula:
(4) If D1 is 31, change D1 to 30.

D2 to 30.

(2) If D1 is the last day of February,

(3) If D2 is 31 and D1 is 30 or 31, change

February, change D2 to 30.

change D1 to 30.

1. Adjust D1 and D2 according to the fol-

lowing rules:

(1) If D2 and D1 are both the last day of

30/360

• The denominator is zero.

• No solution exists for a qua-

dratic regression calculation.

• An attempt is made to fi nd

the square root of a negative

number.

than 1

×

10

100

.

Σ

xy = x

1

y

1

+ x

2

y

2

+

···
+ x

n

y

n

An error will occur in a statisti-

cal calculation if:

• The absolute value of an

intermediate or calculation

result is equal to or greater

y

= y

1

+ y

2

+

···
+ y

n

Σ

Σ

2

2

2

y = y

1

+ y

2

+

···

n

σ

y

=

Σ

y
– ny

+ y

n

2

sy

=

n – 1

2

2

Σ

y

2

– ny

2

y

=

Σ

n

y

Σ

x

= x

1

+ x

2

+

···
+ x

n

Σ

σ

x = x

1

+ x

2

+

···

n

x

=

Σ

x
– nx

2

2

2

+ x

n

2

sx

=

n – 1

2

2

Σ

x

2

– nx

2

x

=

Σ

n

x

×

360 + (M2 – M1)

×

Power

Inverse

y = a • x

y = a + b

1

x

b

Quadratic

Exponential

Logarithmic

y = a + bx + cx

y = a • e

y = a + b •

bx

In

Linear

Type Regression formula

y = a + bx

Statistical Calcula-

tion Formulas

x

2

Depth error (Error 3):

• The number of entered cash fl ow and statistics data items

combined exceeded 100.

instructions).

• The available number of buffers was exceeded. (There are

10 buffers for numeric values and 24 buffers for calculation

when any of COUPON, REDEMPT, or PRICE contain

negative values

• There was a fi nancial calculation error, such as:

• an attempt was made to fi nd YIELD in a bond calculation

• an attempt was made to fi nd IRR when the cash fl ow data

contains all negative or all positive values

• an attempt was made to fi nd I/Y when PV, PMT

FV contain all negative or all positive values

• an error listed in “Financial Calculation Formulas” (see

pages 72 – 75) occurred

• The calculation ranges were exceeded while performing cal-

culations.

• An attempt was made to divide by zero.

• The absolute value of an intermediate or fi nal calculation

result equals or exceeds 10

Calculation error (Error 2):

a value was entered but

.

• During the editing or insertion of cash fl ow or statistical data,

• An attempt was made to perform an invalid operation.

Ex. 2

+

-

5

=

Error codes and error types

Syntax error (Error 1):

an error occurs, pressing

the cursor back to the place in the equation where the error oc-

curred. Edit the equation or press

Note: If an error occurs during the automatic calculation of a

displays the fi rst variable in the function.

listed fi nancial variable, pressing

g

An error will occur if an operation exceeds the calculation rang-

es, or if a mathematically illegal operation is attempted. When

Errors

Errors and Calculation Ranges

76

×

N, and

100

.

?

was pressed before

J

.

s

,

g

, or

y

s

to clear the equation.

or

y

automatically moves

77

• anything except a positive integer into YEAR

• anything except a value between 1 and 13 into START

MONTH

• a non-integer into DAYS

• anything except 1 or 2 into CPN/Y

• anything except an integer between 1 and 999 as a cash

fl ow frequency

• anything except an integer between 1 and 9,999 into AMRT

P1 or AMRT P2

fi nancial calculation.

• a negative value or 0 into P/Y or C/Y

Input value error (Error 7):

• An attempt was made to enter an invalid numeric value into a

• An attempt was made to enter a nonexistent date.

Ex. February 30th

If this happens, press

display notation settings to “fl oating point”. Then try again.

play notation tab number was set to “2”.

s

and

~

Display error (Error 6):

• An attempt was made to display “9.999

Equation too long (Error 4):

No solution (Error 5):

If you get an error while calculating IRR, enter an estimated

*

1

value into RATE(I/Y) and calculate again.

• YIELD (Bond calculations)

• I/Y (TVM solver)

• IRR (Discounted cash fl ow analysis)

• The iteration limit was exceeded while calculating one of the

following values in an overly complex problem:

An equation must be shorter than 160 characters.

• The equation exceeded its maximum input buffer (160 charac-

ters).

0

2

×

10

99

” when the dis-

to set the

*

1

tan

y

x

In

x

, log

sin

–1

–1

x

x

, cos

x

–1

x

tan

x

sin

x

, cos

x

,

Function Calculation range

0 in calculations and in the display.

If the absolute value of an entry or a fi nal or intermediate result

of a calculation is less than 10

• Calculation ranges
if you’d like to cancel the calculation while the “calculating!”

±10

–99

screen is displayed.

to ±9.999999999

In fi nancial calculations, a calculation error increases if the

of the least signifi cant digit of the mantissa. However, a calculation

error increases in continuous calculations due to accumulation of

each calculation error. (This is the same for fi nancial calculations,

scientifi c calculations [

calculations are performed internally.)

Additionally, a calculation error will accumulate and become larger

interest is low or the number of payments is high. Press

in the vicinity of infl ection points and singular points of functions.

Calculation ranges of functions

• Within the ranges specifi ed, this calculator is accurate to within ±1

78

(0 <

–10

100

|

x

<

| < 1:

x

log |

—

1

x

y



= 2n – 1,

| < 100

x



0),*

•

y

< 0:

x

= n

•

•

y

y

= 0: 0 <

> 0: –10

x

< 10

<

x

100

log

y

< 100

100

10



x

<
10

–99

100

|

x

| < 10

100

|

x

|



1

(tan

9

x

: |

×

x

|



100 (2n – 1))*

GRAD: |

x

| <
—

10

10

10



2

RAD: |

x

| <

(tan

x

: |

x

|
—



(tan

—

180



x

×

: |

x

10

|

10



90 (2n – 1))*

(2n – 1))*

DEG: |

x

| < 10

10

–99

×

10

, the value is considered to be

99

and 0.

s

y

x

,

x

,

e

x

, ln, n!, etc.], where continuous

79

* n, r: integer

nCr

nPr

n! 0

1/

x

x

2

x

tanh

–1

x

cosh

–1

x

sinh

–1

x

tanh

sinh

x

x

, cosh

x

,

e

10

x

–10

x

x

y

Function Calculation range

—

(n – r)!

n!

< 10

100

0



r



69

0



r



n



—

(n – r)!

n!

< 10

9,999,999,999*

100



n



69*

|

x

| < 10

100

(

x





x

<
10

0



r



n



9,999,999,999*

0

0)

100

|

x

| < 10

50

|

x

| < 1

1



x

< 10

50

|

|

x

x

| < 10

|



230.2585092

50

–10

100

100

<

<

x

x

<



230.2585092

100

–10

100

<
—

1

x

log |

x

y

| < 100

(0 <

|

x

| < 1:

—

1

= n,

x



0),*

•

y

< 0:

x

= 2n – 1

•

y

= 0: 0 <

x

< 10

•

y

> 0: –10

<
—

x

100

log

y

< 100 (

x



0)

100

1

• Keep battery out of the reach of children.

• Explosion risk may be caused by incorrect handling.

• Do not throw battery into a fi re, as it may explode.

• Exhausted battery that is left in the calculator may leak and

damage the unit.

safe place.

• If the product is not to be used for some time, to avoid dam-

age to the unit from leaking battery, remove it and store in a

• Should fl uid from a leaking battery come into contact with your
result in serious injury. Should this occur, wash with clean

skin or clothes, wash them immediately with clean water.

water and immediately consult a doctor.

• Fluid from a leaking battery accidentally entering an eye could

Caution

tery.

s

is pressed, it is time to replace the bat-

contents in case accidental erasure occurs.

or when it is repaired. Make a note of all important memory

erased. Erasure can also occur if the calculator is defective

Note on the erasure of memory contents

When the battery is replaced, the memory contents are

reaches the service life stated in the specifi cations.

When to replace the battery

If the display has poor contrast, or if nothing appears on the

screen, even when

• The factory-installed battery may be exhausted before it
calculator.

Battery Replacement

Notes on battery replacement

Improper handling of battery can cause electrolyte leakage or

explosion. Be sure to observe the following handling rules:

• Make sure the new battery is the correct type.

• When installing, orient the battery correctly, as indicated in the

80

81

9. =, M+, M–,



M, and any other calculation ending instructions

8.

+

, –

7.

×

,

÷

2.

3. Implied multiplication of a memory value (2Y, etc.)

4. Functions followed by their argument (sin, cos, etc.)

5. Implied multiplication of a function (2sin 30, etc.)

6. nCr, nPr

1. Functions preceded by their argument (

y

x

,

x

x

, n!, etc.)

This calculator performs operations according to the following

priority:

2

Priority Levels in Calculations

pressed for about 10 minutes.

Automatic power-off function

This calculator will turn its power off automatically if no key is

000

• Make sure that the display appears as shown.

If not, remove the battery, reinstall, and check

the display again.

5. Replace the battery cover and the screw.

6. Press the RESET switch located on the back of

the calculator with the tip of a ball-point pen

or similar object. Do not use an object with a

breakable or sharp tip. (see fi g. 4)

4. Install a new battery into the battery housing

with the positive side (+) facing up. (see fi g. 3)

remove the battery. (see fi g. 2)

1. Turn the power off by pressing

(see fi g. 1)

2. Loosen the screw and remove the battery cover.

.

c

.

3. Remove the used battery using a ball-point

pen or similar object. Do not use a mechani-

cal pencil or any sharp or pointed object to

Replacement procedure

fi g. 4

fi g. 3

fi g. 2

fi g. 1

For more information about business/

fi nancial calculators

Visit us on the Internet at:

http://sharp-world.com/calculator/

Accessories: Battery

Weight: Approx. 98 g (0.22 lb.)

Power consumption: 0.0004 W

Operating temperature: 0°C – 40°C (32°F – 104°F)

External dimensions: 83 mm (W)

• May vary depending on the operating

Operating life: Approx. 5 years (with 1 hour of daily

Lithium battery (CR2032)

Internal calculations: Mantissas of up to 14 digits

Pending operations: 24 calculations, 10 numeric values

Power source: 3.0 V … (DC)

Scientifi c calculations

Statistical calculations

Calculation method: D.A.L. (Direct Algebraic Logic)

• Parenthesized operations take precedence over other operations.

Specifi cations

Calculations: Financial calculations

General arithmetic calculations

Key operation and calculation priority

5 + 2 x . { 30 + 25 x 5 . @ 3 =

82

manual, and wallet-type case.

case)

×

1 (installed), operation

(including battery but not wallet-type

3-9/32” (W)

×

5-29/32” (D)

×

7/16” (H)

use)

environment and operation method.

×

150 mm (D)

×

11 mm (H)

×

1

83

w

u

, 22, 23

, 22, 23

c

s

, 6

, 6, 12

o

p

, 62

q

l

m

N

, 63

, 22, 23

, 6, 10, 12

M

h

j

k

, 15

, 16

, 5, 12, 13

, 11, 16

d

h

, 61

, 61

f

d

e

, 13

, 39, 66

, 22, 23

T

]

, 7, 61

, 22, 23

R

S

, 61

, 11

O

Q

, 49

, 7, 19

K

L

, 52

, 12

@

I

J

, 56

, 7, 19

, 37, 64

<

>

?

, 41

, 39, 66

, 37, 38

$

b

, 58

, 12, 19

/

"

#

, 15, 16, 23

, 22, 28, 33

, 45

&

i

*

, 44, 45, 52

, 33

, 4, 6, 7, 15

;

:

.

, 61

, 61

, 4, 6, 7

!

.

t

, 16, 61

, 11

P

B

z

, 54

i

<

}

%

, 23

, 16, 62

:

=

,

(

, 11, 15

, 11, 37, 61

)

>

+

, 37, 51, 64

-

Index

, 62

DAYS, 52, 53, 75

DB, 9, 48, 74

DB (I/Y), 18, 48, 74

Decimal place, 8, 9, 63

DEG, 8, 9, 61, 78

Delete key, 12

DEPRECIATE, 48

Depreciation calculations,

Depreciation method, 9, 48

17, 18, 48–50, 74

Cursor key, 6, 13

C/Y, 18, 22, 72, 77

Date format, 10, 44, 47, 52

Day and date calculations,

Day-count method (ACT/360), 44, 52

17, 18, 52–54, 74

Chain calculations, 60

COMP (symbol), 7, 20

Compound interest, 21, 54–56, 75

Constant calculations, 60

Conversion between APR and EFF, 17, 51

COST, 56, 75

COST (PV), 18, 48, 74

Cost/sell/margin/markup calculations,

COUPON (PMT), 18, 44, 73, 76

CPN/Y (N), 18, 44, 77

17, 56, 57, 75

Cash flow diagrams, 21

Breakeven calculations, 17, 58, 59, 75

(symbol), 8, 20

Calculation ranges, 78, 79

Calculator layout, 6

Calendar range, 44, 47, 52

Cash flow data, 12, 37–40, 76

APR, 17, 51, 74

Arithmetic calculations, 11

Arithmetic operations (+, –,

Automatic power-off function, 81

BALANCE, 33, 72

Battery replacement, 80, 81

Bond calculations, 17, 18, 44–47, 73

×

, ÷), 11

, 51

g

y

, 6, 13

Amortization calculations,

AMRT P1, AMRT P2, 12, 33, 77

Angular unit, 8, 9, 61

Annuity due, 7, 22, 28

ANS (last answer memory), 14, 15

17, 33–36, 72

, 60, 61





ACCU INT, 44

INTEREST, 33, 72

PRINCIPAL, 33, 72

, 11, 16, 61

% (I/Y), 18, 54, 75

x

8

, 4, 11

f

~

g

;

@

, 6, 8–10

, 16, 60, 61, 69

, 61

, 7, 15

, 7, 15

v

|

, 62, 63

, 22, 23

RAD, 8, 9, 61, 78

Random coin, 62

Random dice, 62

Random functions, 62–63

PWR, 64

P/Y, 18, 22, 72, 77

QUAD, 64

QUANTITY, 58

PRICE (PV), 18, 44, 45, 73, 76

Priority levels in calculations, 81, 82

PROFIT, 58

PV, 18, 22, 72

calculations, 17, 18, 54–56, 75

PERIODS (N), 18, 54, 75

Playback function, 13

PMT, 18, 22, 72

PRICE, 58, 75

M-D-Y 1, M-D-Y 2, 18, 44, 52, 73, 75

Memory clear key, 5, 12, 13

Modify function, 63

N, 18, 22, 72

NORMAL mode, 10, 17, 60

NET_PV, 40

NEW PRC (FV), 18, 54, 75

NPV, 40, 41, 72

OLD PRC (PV), 18, 54, 75

Ordinary annuity, 7, 22, 28

Overwrite mode, 13

Payment period (payment due), 22, 28

Percent change/compound interest

TVM variable, 12, 14, 15, 18, 19, 22

VARIABLE, 58, 75

YEAR, 12, 48, 77

YIELD (I/Y), 18, 44, 45, 73, 76, 77

LINE, 64

Listed financial variables, 12, 14, 15, 18, 19

LOG, 64

M (symbol), 8

MARGIN, 56, 75

MARK UP, 56, 75

Symbol, 7

SYD, 9, 48, 74

TAB, 7, 8

Temporary memory (A-H, X-Z), 12, 14, 15

TVM (time value of money) solver,

17, 22–32, 72

Floating point, 8, 9

Formulas, 72–75

FV, 18, 22, 72

GRAD, 8, 9, 61, 78

Independent memory (M), 8, 12, 14, 15

Insert mode, 13

INV, 64

IRR, 40, 41, 72, 77

I/Y, 18, 22, 72, 77

LIFE (N), 18, 48, 74

SELL, 56, 75

SET UP menu, 8–10

SL, 9, 48, 74

Specifications, 82

START MONTH, 48, 74, 77

STAT (statistics) mode, 10, 64

Statistical calculations, 10, 64–71

Statistical data, 12, 64–67, 76

Statistical variables, 12, 14, 16, 68

(symbol), 8, 10, 64

Display notation, 8

EFF, 17, 51, 74

ENT (symbol), 7, 20

Entering dates, 47

Entering numbers, 11

Error, 14, 76–78

EXP, 64

Financial calculations, 17, 18, 72

FIXED, 58, 75

FLO_A (FLOAT A), FLO_B (FLOAT B), 7, 9

RBV, 48, 74

RDV, 48, 74

REDEMPT (FV), 18, 44, 73, 76

RESET switch, 5, 12, 81

Resetting the calculator, 5

SALVAGE (FV), 18, 48, 74

SCI, 7, 8

Scientific calculations, 60–63

Scientific notation, 8, 9, 11, 63

SD, 64

Discounted cash flow analysis,

Display layout, 7

17, 18, 37–43, 72

Random integer, 63

Random numbers, 62

RATE (I/Y), 18, 40, 72

84

85

MEMO

See www.dtsc.ca.gov/hazardouswaste/perchlorate/

For USA only:

This product contains a CR Coin Lithium Battery which

contains Perchlorate Material – special handling may apply,

California residents,

86

PRINTED IN CHINA / IMPRIMÉ EN CHINE / IMPRESO EN CHINA

06GGK (TINSE1258EHZZ)