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
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