# financial calculator hp 10bii manual

financial calculator hp 10bii manual

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financial calculator hp 10bii manual

Getting Started Contents. Keys: 12 At a Glance. Display: 17.50 20.13 15.00 22.00 31.82 20.00 33.00 26.60 Description:. Clearing Memory Keys Description All Clear 1: Getting Started 25. Keys: 28 1: Getting Started Display: 9.45 0.42 3.99 Description:. INPUT Keys: Display: Description: 17.00 INPUT 70.59 Display Format of Numbers 1: Getting Started 29. Keys: Display: Description: 200.00 0.25 50.00 2: Business Percentages 33. Keys: Example. Keys: Percent Change Example.Keys: Markup on Cost Calculations Example. Keys: Keys Display: 255.00 300.00 15.00 Display: 19.00 60.00 30.40 Description Description: Description: 2: Business Percentages 35. Keys: 36 2: Business Percentages Display: 9.60 15.00 11.04 13.04 Description:. Keys: New Number in Register Display: 45.70 2.50 114.25 3: Number Storage and Arithmetic 41 Description:. Keys: Example. Keys: 42 3: Number Storage and Arithmetic Display: 0.25 4.47 51.67 1.21 52.88 Display: 12.18 2.50 24.00 814.00 Description: Description:. Step 1 5: Time Value of Money Calculations 65. BEGIN 68 5: Time Value of Money Calculations. End of Month 80 6: Cash Flow Calculations Amount. Week Minutes of Advertising ( x -values) Sales ( y -values) 7: Statistical Calculations 91. Keys: Display: 0.00 1.00 2.00 3.00 4.00 509.44 Description: 7: Statistical Calculations 93. Keys: Display: Description: 40,000.00 20.00 24.00 8: Additional Examples 95. Keys: BEGIN Display: 12.00 15.00 1.25 0.67 30.00 4,530.00 Description: 8: Additional Examples 103. Keys: 108 8: Additional Examples Display: BEGIN 9.00 12.00 9.38 Description:. If HP is unable, within a reasonable. You can use it for quick reference. The rest of the manual is filled with explanations and examples of the concepts presented in this section. Basics of Key Functions Table 1-1 Basics of key functions Keys. Clears TVM memory. Clears cash flow memory. Clears statistics memory. For more information on the calculator’s keys and basic functions, refer to chapter 2, Getting Started.If the cost is 20.

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00 and the markup is 33, what is the selling price. Table 1-6 Calculating the price Keys Display Description. A negative sign in the display represents money paid out, and money received is positive.TVM What if. It is not necessary to reenter TVM values for each example. Using the values you just entered, how much can you borrow if you want a payment of 100.00? Table 1-13 Calculating a new payment Keys. Press once for periods 1- 1 2, and once again for payments 13- 24. Press to continually cycle through the principal, interest, and balance values (indicated by the PRIN, INT, and BAL annunciators respectively). For more information on amortization, refer to the section titled, Amortization in chapter 6, Time Value of Money Calculations.For more information on depreciation, refer to chapter 7, Depreciation. Interest Rate Conversion To convert between nominal and effective interest rates, enter the known rate and the number of periods per year, then solve for the unknown rate. What is the IRR per month.These keys permit you to input data or return results. Pressing only calculates a result. The other keys used in bond calculations only permit you to input the data required for the calculations. Calculates a Z-value given a cumulative normal probability. Calculates the cumulative Student’s T probability given degrees of freedom and a T-value. Calculates a T-value given degrees of freedom and the cumulative Student’s T probability. Table 1-36 Converting to radians Keys Display Description P\;aJg Converts degrees to radians. For more information on trigonometric functions, refer to chapter 2, Getting Started. At a Glance. To change the brightness of the display, hold down and then simultaneously press Since the calculator has continuous memory, turning it off does not affect the information you have stored. Toggles between radians and degrees.Clears TVM memory. Clears cash flow memory.

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Simple Arithmetic Calculations Operating Modes To change the operating mode, press the blue shift key, followed by to toggle between Algebraic and Chain modes. A brief message is displayed indicating the selected operating mode. For example, entering the following numbers and operations as written from left to right, J1GPD4, returns 9. When entered with parentheses, this expression returns a result of 7. Calculations in Algebraic Mode In Algebraic mode, multiplication and division have a higher priority than addition and J1GPD4 subtraction. When you release all three, all memory is cleared. The All Clear message is displayed. Annunciators Annunciators are symbols in the display that indicate the status of the calculator. When another key is pressed, the functions labeled in orange or blue are executed. Inverse mode is active for trigonometric or probability functions. Radians mode is active. Begin mode is active;. The key can also be used to enter cash flows and cash flow counts, ordered pairs, and evaluate any pending arithmetic operations, in which case the result is the same as pressing Swap Key. Sum of the x-values. Time Value of Money (TVM), Cash Flows, Bond, and Break-even Keys When entering data for TVM, cash flows, bond, depreciation and break-even calculations, results are calculated based on data entered into specific memory registers.Rounds x to the number specified by the display format.To change to radians mode, press. When radians mode is active, the RAD annunciator is displayed. Table 2-23 Two-number functions Keys Description 1APa Addition, subtraction, multiplication, division.Example 2 Calculate natural logarithm (e ).The display format controls how many digits appear in the display. Scientific Notation Scientific notation is used to represent numbers that are too large or too small to fit in the display.To clear a message from the display, press. For a complete list of error messages, refer to Appendix C.

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Example 2 You borrow 1,250 from a relative, and you agree to repay the loan in a year with 7 simple interest. Using Margin and Markup Together Example A food cooperative buys cases of canned soup with an invoice cost of 9.60 per case. If the co-op routinely uses a 15 markup, for what price should it sell a case of soup. What is the margin? Table 3-9 Calculating the margin Keys. Then calculate the percent change between 50 and 32, and 45 and 32.Table 4-6 Calculating basic arithmetic operations using M register Keys Display Description 17.00 Stores 17 in M register. JY7GVm 14.25 Adds 14.25 to M register. JS7dVm 16.95 Adds 16.95 to M register. VS:7J1 1,035.70 Recalls R NOTE: If the calculator is set for Algebraic mode, press at the end of this step. Thus, it can earn more interest. Interest Rates. For example, following is a cash flow diagram (from the saver’s perspective) for a savings account with a single deposit and a single withdrawal five years later. Figure 6 Cash flow diagram (Investment in a mutual fund) Cash flow problems are described in chapter 8 titled, Cash Flow Calculations. Once the values are entered you can vary one value at a time, without entering all the values again.Press if BEGIN annunciator is displayed.Part 3 If interest is 10.5, what is the maximum you can spend on the car to lower your car payment to 375.00? Table 6-4 Calculating the amount Keys. Press if BEGIN annunciator is displayed.If the display is not set to two decimal places, press Table 6-7 Calculating the final amount Keys Display. Table 6-8 Calculating the number of years Keys Display Description 0.00 Clears TVM memory. Example: An Individual Retirement Account You opened an individual retirement account on April 14, 1995, with a deposit of 2,000. 80.00 is deducted from your paycheck and you are paid twice a month. Example: An Annuity Account You opt for an early retirement after a successful business career.

You have accumulated a savings of 400,000 that earns an average of 7 annual interest, compounded monthly. Some leases are written as purchase agreements, with an option to buy at the end of the lease (sometimes for as little as 1.00). Step 4 Add the results of ’Step 2’. Then press repeatedly to cycle through interest, principal, and balance. They convert between nominal and annual effective interest rates.What will the balance be in seven years. Step 1 Calculate the equivalent rate with monthly compounding. Table 6-26 Calculating the equivalent nominal percentage rate Keys Display. Time Value of Money Calculations. TVM and X are displayed. Using the double declining balance method, what is the depreciation for the first three years of the machine's life. What is the remaining depreciable value. Table 7-4 Depreciation example using Declining Balance Keys Display. A cash flow diagram is useful. 2. Clear the cash flow memory. J identifies the cash flow number.If more than 15 data points are stored in the statistics memory, the total memory available for storing cash flows is reduced. Assume there are 12 periods per year. Note the CFLO and CF (CF 2 flashes, then annunciators. Note the CFLO and N (CFn 2 flashes, then annunciators. If you type an invalid entry, such as a value of 0 for the count, the ERROR annunciator appears and the value is rejected. To clear the current cash flow or repeat value without removing the entire pair, press. For the date, the number of days between two dates, and bond calculations, dates may be entered and displayed either in month-day-year (M.DY) or day- month-year (D.MY) formats. To view the entire date, press. For more information on changing the number display, refer to the section titled, Specifying Displayed Decimal Places in chapter 2. To key in a date in M.DY format: Key in one or two digits for the month. The functions used in bond calculations are printed in blue above the keys on the keyboard.

To access the bond functions, press followed by the desired function. Optional, as default is 100.Continuing with the same bond problem, assume the bond will not be called. What is the expected yield to maturity. Table 10-4 Keys. A brief message flashes on the screen to indicate the break-even registers have been reset. To return to the default calculator screen, press Break-even. If you don't clear the statistical data, new information stored will be added to the current calculations. To clear all statistical data, press. The message STAT CLR flashes briefly and the display is cleared. The regression model is also reset to its default setting, LINEAR. The number of items accumulated, n, is displayed, along with the current x-or y-value. The STAT annunciator appears, and the X or Y identifies the displayed value. 2. Press to move up through the current statistical data. After modifying the data, predict the next day’s activity at a record 45 Table 12-5 A new prediction Keys Display Description YV\W 1,204.67. Some functions return two values. In this instance, the X annunciator is displayed along with STAT. In this case, the X annunciator changes to a Y, indicating the second value is being displayed. They assume that the data is a sampling of a larger, complete set of data.Estimate what the level of sales would be if the business purchased 7 or 8 minutes of advertising. Table 12-1 1 Estimating the level of sales Keys Display Description 3,357.38. When selected, BEST FIT flashes briefly, followed by the chosen fit. The selected regression will remain set until a new one is selected, or the statistics memory is cleared. This function calculates the probability that a standard normal random variable, Z, is less than z. Figure 5 Example The variable Z is a standard normal random variable. Figure 9 Figure 10 Statistical Calculations. The lower tail probability corresponds to the area under the curve to the left of the given value.

Sometimes you will want to work with areas other than the lower tail. It is easy to convert from lower tail to another area as long as you keep in mind that the total area under the curve is equal to 1, and the Normal and the Student’s T distributions are symmetrical. What is the probability that z is greater than 1.2 or less than - 1.2? Figure 18 The desired area is to the right of 1.2 and to the left of - 1.2. Since normal distributions are symmetrical, and the areas are the same, you can calculate the lower tail area and simply multiply by 2. For this method to be accurate, you must identify all costs associated with the product. Loans and Mortgages Simple Annual Interest Example Your good friend needs a loan to start his latest enterprise and has asked you to lend him 450. Remember the cash flow sign convention: money paid out is negative;. Automobile Loan Example You are buying a new 14,000.00 sedan. Your down payment is 1,500 and you are going to finance the remaining 12,500. Interest is compounded semi-annually while payments are made monthly.How will that affect my payment?”. Press if BEGIN annunciator is not displayed.Press if BEGIN annunciator is displayed. Table 13-22 Calculating the monthly deposit required Keys Display Description. Press if BEGIN annunciator is not displayed. Table 13-23 Calculating the purchasing power of the amount Keys Display. Assume an annual dividend rate of 8.175, a tax rate of 28, and that payments begin today.When changing batteries, use only fresh button-cell batteries. Both batteries must be changed at the same time. Do not use rechargeable batteries. Low Power Annunciator When the low battery-power annunciator ( ) comes on, you should replace the batteries. Determining if the Calculator Requires Service Use these guidelines to determine if the calculator requires service. A: You must edit or replace the cash flow entry (Ch. 8 Cash Flow Calculations). Q: What does in the display mean.

PEND A: An arithmetic operation is pending (in progress). Q: What does in the display mean? INPUT. The process finds a solution by estimating an answer and then using that estimate to do another calculation. This is called an iterative process. In most cases, the calculator finds the desired answer, since there is usually only one solution to the calculation. This message is also briefly displayed if any calculation underflows. In this case, it is followed by zero.STAT CLR statistical memory and registers were cleared. Best Fit The calculator selected the best fit regression which is subsequently flashed for 1 second.Please refer to HP's Web site for an extensive description of your limited warranty entitlements. In addition, you may also have other legal rights under appli- cable local law or special written agreement with HP. HP also expressly warrants to you that HP software will not fail to exe- cute its programming instructions after the date of purchase, for the period specified above, due to defects in material and workmanship when properly installed and used. For EU non-harmonized telecommunications products (If applicable, a 4-digit notified body number is inserted between CE and !). Please refer to the regulatory label provided on the product.If you need assistance with warranty, please refer to the warranty infor- mation on the product CD. Yet, it’s surprising how many commercial real estate and finance professionals still don’t know how to properly use a financial calculator. Sometimes it’s because they didn’t learn it correctly the first time, and other times it’s because they simply forgot how to use a financial calculator to perform a less frequently used calculation. It’s also common for people to get stuck with basic but confusing settings such as the payments per year setting. In this article we’ll solve all of these problems by taking a deep dive into how to use a financial calculator.

We’ll discuss everything you need to know about getting started, we’ll cover some routine calculations, and we’ll also tackle some common mistakes and misconceptions. What’s The Best Financial Calculator to Use. If you’re just getting started, the first choice you’ll need to make is which financial calculator to actually use. Here are the most popular financial calculators used in commercial real estate and finance today: HP 10BII. This is one of the newer Hewlett Packard models and is widely used in business schools as well as in the finance industry. The colors are also slightly different. TI BA2 Plus. This is one of the newer and most popular Texas Instrument financial calculators and is also widely used in business schools and the finance industry. HP 12C. This is one of the older Hewlett Packard financial calculators. It’s not used much in business schools today but it’s still has a strong following among seasoned veterans. Usually the people wielding this small machine have been running financial calculations longer than most of us young(er) professionals have been alive. Other financial calculators include the HP17BII, the HP19BII, and the HP20b. These financial calculators are not widely used in finance and commercial real estate and therefore are not recommended. If you’re just starting out it’s really a toss up between the HP 10BII and the TI BA2 Plus. In a survey of the PropertyMetrics audience the HP 10BII was the most popular financial calculator used, so for the purposes of this article we’ll be focusing on the HP 10BII. If you’d like us to cover another model in a future article, let us know in the comments. As an aside, both the HP 10BII and the TI BA2 Plus have excellent emulator apps for iOS and Android devices. Why You Need to First Master The Time Value of Money Before diving into how to use a financial calculator, you must first master the time value of money.

The time value of money is a fundamental building block in finance and commercial real estate. A financial calculator is simply a tool that facilitates time value of money calculations. So, before learning how to use a financial calculator, it’s critical to first master the logic and intuition behind the time value of money. Time value of money is the economic principle that a dollar received today has greater value than a dollar received in the future. What’s the intuition behind this principle. Why does money have time value. What are the components of all time value of money problems? These are all great questions and unfortunately outside of the scope of this article. For a more in depth look at the logic and intuition behind the time value of money, check out What You Should Know About The Time Value of Money. How the HP 10BII Financial Calculator is Organized Assuming you’re comfortable with the time value of money, let’s next get familiar with the layout of the HP 10BII financial calculator. Basic Math Functions The most frequently used buttons will certainly be the math keys. These math keys work just like they do on a regular non-financial calculator. All of the other fancy-looking keys might make things confusing at first, but these math functions should make you feel right at home. As you can see these are easy to find and we have clearly labelled this section in red below. Math functions on the HP 10BII. Time Value of Money Functions The time value of money keys are located along the top of the calculator and correspond to the 5 components of all time value of money problems (N, I, PV, PMT, and FV). We’ll cover how to use these keys in more detail below, but here’s where these keys are located on the HP 10BII: Time value of money functions on the HP 10BII. Gold and Purple Keys You probably already noticed the solid purple and gold keys. These frequently used keys are needed to shift through different functions for the same key.

If you look closely at the other keys on the financial calculator you’ll notice that they have white letters, gold letters, and purple letters. The white letters are the primary functions, while the gold and purple letters indicate alternative functions for the same key. You can use any of these alternate functions at any time by simply pressing the appropriate shift key (gold key for example) and then pressing the function key with the gold label that you want to use. We’ll demonstrate this process below, but here’s where these keys are located in case they didn’t already stand out to you: Gold and purple keys on the HP 10BII How to Use Basic Functions and Settings Now that we have a general feel for how the financial calculator is organized, let’s go over some frequently used functions and useful settings you should understand. How to Turn Your Financial Calculator On and Off Turning the HP 10BII on and off is pretty simple. All you have to do is use the ON Button to turn it on or the Gold Key first then the ON button to turn it off. Notice the gold text on the ON button, which indicates this is a secondary function for the same button that needs to be preceded by the Gold key. How to turn the HP 10BII on How to turn the HP 10BII off How to Clear All Registers As you work through different problems on your financial calculator, one of the easiest ways to make a mistake is to not clear out your existing work from other problems. The clear all function will immediately clear out all of your prior work so you can start a new problem with a clean slate. To accomplish this all you need to do is simply press the Gold key followed by the C key. First, we’ll go over the memory register key, which just stores one value at a time. To use the M register, simply input or calculate a number, then hit the M register key as show below.

To recall a value stored on the M register, simply press the RM or recall memory key: How to store value in the memory register How to recall value from the memory register How to Store and Recall Multiple Values From Memory If you want to store multiple values then you’ll need to use a different approach. This is particularly useful when you are calculating multiple figures that then later need to be used in a final calculation. To do this you’ll need to use the store and recall key as shown below: Store and recall key on the HP 10BII To store a number using this approach, use the following procedure: Input or calculate a number Press the gold key Press the STO key Press a number (0-9) where you’d like to store the value This is a straightforward process on the HP 10BII but it does involve a lot of steps that can be cumbersome and sometimes annoying. This is one area where the TI BA2 Plus offers a much faster and simpler solution since the store and recall keys are two separate buttons (no extra shift key is required). The TI BA2 Plus is outside of the scope of this article, but if you’ll be storing and recalling multiple numbers like this on a regular basis, then you’ll probably like the TI BA2 Plus better.

Recalling a stored value is a lot easier: Press the RCL button Press a number (0-9) where you previously stored a value How to Use A Financial Calculator Online Course A complete online course that teaches you how to use an HP 10BII financial calculator step-by-step with easy-to-follow videos and commercial real estate specific examples Learn the HP 10BII financial calculator step by step No prior finance knowledge required Includes a complete time value of money crash course Includes commercial real estate specific problems and solutions Enroll Now How to Use The Time Value of Money Keys Now that we have a good understanding of how the HP 10BII financial calculator is organized and we’ve also gone over some regularly used functionality, let’s dive into the time value of money. This is, after all, what a financial calculator is built for. Assuming you’re comfortable with the concepts of the time value of money (in particular the 5 components of all time value of money problems), the time value of money keys on the 10BII are very intuitive to use. The best way to master using the time value of money keys on the 10BII is to simply practice. Below we’ll go over how to use each of the 5 keys individually and also go over some practice problems. But first, lets discuss how to avoid a common mistake people make when using a financial calculator. Consistency of The Time Value of Money Components One of the most common problems people make when using a financial calculator is inputting inconsistent time value of money components. When solving for time value of money problems it’s critical that the frequency of the N, I, and PMT components match. For example, if the number of periods (N) in the problem is monthly, then the interest rate (I) and payments per period (PMT) must also be expressed monthly. The HP 10BII financial calculator has a built in settings for payments per year that attempts to auto-adjust the interest rate based on how many periods there are in a year.

However, this does not auto-adjust the N and PMT components (you still have to do this manually), which makes this function cause more problems than it’s worth. For this reason it’s better to set payments per year to 1 and then totally ignore this setting. You’ll need manually adjust the components in each problem so that they match in frequency, but this will result in fewer errors. You can set the payments per year setting to 1 by simply pressing the 1 key, then the gold key, and finally the PMT key. HP 10BII payments per year So, assuming you have your financial calculator set to 1 payment per year and you’ve cleared all registers, let’s go through some example problems to demonstrate how to use the time value of money functions on the HP 10BII financial calculator. What should you pay for it today in order to earn 6.5 annually? To solve this time value of money problem let’s take a look at the 4 variables that we know. To solve this problem simply identify the 4 known components and then use the HP 10BII financial calculator to find the 5th unknown component. It’s negative because it’s leaving our pocket when we put it into the investment. The number of periods N is 7 years, and the rate I is 5. The N and I components are both expressed annually, so they are consistent. To resolve this let’s adjust the N and I components so they are both expressed monthly. Because it isn’t explicitly given, we know that the payment amount is implied to be 0. The number of periods N is given to us as 10 years. The interest rate is 6.5 annually because this is how much we earn each year. How far into the future. Well, now that we know 4 out of the 5 components we can simply plug them in and solve for N, which is 10 years. We specifically focused on the HP 10BII and detailed how the calculator is organized, how to perform common calculations and functions, and finally we covered how to use the time value of money keys along with step by step examples.

Additionally, we took a look at some common mistakes people make when learning how to use a financial calculator and we showed you how to avoid making these errors. Learning how to use a financial calculator is not a quick process and it does take time. There are many features of the HP 10BII that we did not cover in this article, but the elements we discussed will give you a solid foundation. Filed Under: Articles Primary Sidebar What is PropertyMetrics. PropertyMetrics provides web-based software for commercial real estate analysis and presentation. Recent Posts How The Double Net Lease Works How to Calculate an Interest Reserve for a Construction Loan Eleven Types of Risk in Commercial Real Estate How The Single Net Lease Works What is Force Majeure and How Does it Work. PropertyMetrics is an excellent source of information with professional grade software for analysis and presentation. The presentation and information provided is astute and always to the point with great clarity. I have to also compliment your company on clearly explaining valuation concepts to me. To put this into context, I asked my professor in my investment class last week if he knew of a way to value an income property using discounted cash flow analysis. Long story short.you guys are smarter than my professor. As the head of a local Taxpayers Association with a considerable amount of municipal real estate, your data provides me with the information needed to show how much current lease terms cost the town in lost revenue, making my task much easier. Drop us a line and let us know. If you continue to use this site we will assume that you are happy with it. OK. These calculators differ slightly, so you may prefer the HP 10B tutorial. This tutorial will demonstrate how to use the financial functions to handle time value of money problems and make financial math easy. I will keep the examples rather elementary, but understanding the basics is all that is necessary to learn the calculator.