HP 20b Business Consultant Financial Calculator User manual Quick start guide

HP 20b Business Consultant

Financial Calculator

Quick Start Guide

For free training, visit www.hp.com/go/calctraining

HP part number: F2219-90001

First edition: January 2008

Basic Features

Legal Notices

This manual and any examples contained herein are provided “as is” and are subject to change without notice. Hewlett-Packard Company makes no warranty of any kind with regard to this manual, including, but not limited to, the implied warranties of merchantability, noninfringement and fitness for a particular purpose.

Hewlett-Packard Company shall not be liable for any errors or for incidental or consequential damages in connection with the furnishing, performance, or use of this manual or the examples contained herein.

Copyright © 2008 Hewlett-Packard Development Company, L.P.

Reproduction, adaptation, or translation of this manual is prohibited without prior written permission of Hewlett-Packard Company, except as allowed under the copyright laws.

Hewlett-Packard Company

16399 West Bernardo Drive

MS 8-600

San Diego, CA 92127-1899

USA

2

Contents

Legal Notices


1 Basic Features

2 Mathematical Calculations

3 Statistical Operations

4 Time Value of Money

5 Cash Flows

6 Business Problems

7 Bonds

8 Depreciation

9 Break-even

74

81

10 Warranty, Regulatory, and Contact Information 84

40

50

62

68

6

20

2

4

34

3



4


Keyboard Map Legend

1

No.

2

Feature

Time Value of

Money keys

Cash Flows, IRR, and NPV menus

Chapter(s)

4

5

3

4

5

6

7

8

Data and Statistics menus

Input

Memory

Up/Insert and

Down/Delete keys

Shift key

On/Off

3

1

1

1

1

1

No.

16

15

14

13

Feature

Annunciator display area

Amortization and

Depreciation menus

% key and

Percent

Calculation menu

Store and Recall

Chapter(s)

1

4,8

2,6

1

12 Break-even menu

11

10

Backspace key and Reset menu

Math Menu

9

1

9 Mathematical functions (rows)

2

2

5

Basic Features

1 Basic Features

Welcome to the HP 20b Financial Calculator

This guidebook is designed to get you started with your new 20b Financial

Calculator. If you require more detailed information about calculator operation and features, please refer to the training materials available at: www.hp.com/go/calctraining.

Turning the Calculator On and Off

To turn on your calculator, press O . To turn it off, press :a .

Turning the calculator off does not erase any data you have stored. The calculator automatically turns itself off after approximately five minutes to conserve energy. If you see the low battery symbol () in the display, replace the batteries. See Chapter 10, Warranty and Contact Information for instructions on replacing the batteries.

Selecting a Language

English is stored as the default language. To select a language other than

English for messages on the display:

1.

Press :u to access the Mode menu.

FIX= displays on the top line of the screen.

6

Basic Features

2.

Press > repeatedly until English displays on the screen.

3.

Press I until the desired language is displayed. The displayed language is the active setting.

4.

Press

O

to return to the default calculator screen.

For more information on accessing menus and changing calculator settings, refer to the section below titled, Accessing Menus.

Adjusting the Display Contrast

To adjust the brightness of the display, press and hold

O

while pressing the

+ or keys. Each press of the + or keys slightly increases or decreases the brightness of the display.

Cursor

When you enter a number, the cursor (-) blinks in the display and indicates you are in number entry mode.

Two Line Display

There are two lines in the display screen as shown in Figure 1-1:

Figure 1-1 Display Screen

7

Basic Features

The top line of the screen displays operation status, operator symbols, annunciators, and abbreviations of the registers, variables, and menus.

Throughout this manual, this line is referred to as the top line. In Figure 1-1, SIN and RPN on the far right are on the top line.

The bottom line displays numbers you have entered, or results. Throughout this manual, this line is referred to as the bottom line.

When no operations have been entered and no operations are pending, the bottom line of the screen displays 0. This state of the calculator is referred to as the default calculator screen.

The Mode Menu: Setting Preferences

The Mode menu allows you to customize the calculator. To access the Mode menu, press :u . Press > or < repeatedly to scroll through the menu starting with FIX=2 (the number of digits displayed to the right of the decimal point). Once an item is displayed, press I to cycle through the other options for that setting. To exit the Mode menu, press O . Table 1-1 below lists the items in the Mode menu .

8

Basic Features

Table 1-1 Mode Menu Settings

Setting

FIX= 2

Degree or

Radian

Date: mm dd yyyy or dd mm yyyy

Display Description

The current number of digits displayed to the right of the decimal point. Default is 2.

Key in the number of digits you want and press press

I , or

= until the number of digits you want is displayed.

The current angular mode in degrees or radians.

Default is Degree.

Pressing I toggles between these options.

The current format for dates entered into menus: mm dd yyyy or dd mm yyyy. December 3, 2010 is entered as 12.032010 in mm dd yyyy format, or 3.122010 in dd mm yyyy format. Note the (.) in both formats separating the first and second groups.

Default is mm dd yyyy format.


1.23 or 1,23 The current decimal separator as a decimal point or comma.

Default is decimal point, 1.23


9

Basic Features

Table 1-1 Mode Menu Settings

Setting

Decimal or

Comma

Chain,

Algebraic, or

RPN

English,

Français,

Deutsch,

Español

Actual or

Cal.360

Display Description

The current thousands separator. Decimal (1000.00 or

1,000.00); Comma (1000,00 or 1.000,00).

Default is decimal. Pressing I cycles through these options.

The current operation mode.

Default is Chain.

Pressing I cycles through these options.

The current language option.

Default is English.

Pressing I cycles through these options.

Annual or

Semiannual

The current calendar options for bonds and date calculations.

Default is Actual


The current bond type.

Default is Annual.


10

Basic Features

Changing the Operating Mode

After viewing the default settings, suppose you want to change the operating mode from Chain to RPN. See Table 1-2.

Table 1-2 Changing the Operating Mode

Keys

:u

Display

<<<<

<

(Press five times)

II

(Press two times)

Description

Opens the Mode menu, starting with first setting option, FIX=, the number of digits displayed to the right of the decimal point.

Scrolls to the current setting for the operating mode, Chain.

> or <

Selects RPN as the active setting. Note the RPN annunciator to the right.

Pressed repeatedly, scrolls through other settings in the menu. The displayed settings are the active settings.

11

Basic Features

Table 1-2 Changing the Operating Mode

Keys

O

Display Description

Exits the Mode menu and returns you to the default calculator screen.

Key Presses and the Shift : Key

To activate a key, press and release the desired key.

Most of the 20b's keys have two functions: the primary function and the shifted, or secondary function. The primary function is printed on the top of the key. The secondary function is printed on the bevel of the key.

To activate the secondary function of a key, press and release : followed by the key with the secondary function printed on the bevel. Unlike the shift key on a typewriter or computer keyboard, it is not necessary to press and hold : while pressing another key.

In this manual, commands with secondary key functions are represented by the shift key symbol, : , followed by the key with the secondary function. For example, to activate sine , press :p .

12

Basic Features

When : is active, the down arrow annunciator appears on screen, indicating that the next key pressed will execute the secondary function of the key. To cancel an accidental press of : , simply press : a second time.

Key commands for example problems are provided throughout the text and in tables. Key symbols are placed in the order they are to be pressed, from left to right.

Annunciators

Annunciators are symbols that appear in the display as messages, or after certain keys or key combinations have been pressed. Annunciators are special symbols indicating a specific status in the calculator. Table 1-3 lists the annunciators.

Table 1-3 Annunciator Symbols

Annunciator Symbol

(•)

Big ( = ) symbol

Status

The shift key has been pressed. When another key is pressed with this symbol displayed, the secondary function printed on the bevel of the key is activated.

When displayed with an item, for example,

Price =, it indicates the value assigned to that variable.

13

Basic Features

Table 1-3 Annunciator Symbols

Annunciator Symbol

Small (=) symbol



BEG

STO

RCL

RAD

RPN

360

INPUT

Status

Indicates an item for which the = key is valid. This symbol appears on the upper right of the display screen.

Battery power is low.

Begin mode is activated.

Stores a number in memory.

Recalls stored numbers.

Radians setting is active.

RPN mode is active.

The 360-day calendar option is active.

Input mode is activated.

The I Key

The I key is used to input values for variables and execute menu items.

14

Basic Features

The I key is also used in Reverse Polish Notation (RPN) mode to enter a number on the stack or duplicate it.

The = Key

The = key is used at the end of a mathematical operation to calculate the final result. For example, 1+2= returns a final result of 3.

The = key also allows you to request a calculation for the value of an item.

This request only applies to items that can be calculated.

For example, when you select the nominal interest rate ( Nom. %= ) in the Interest

Conversion (Iconv) menu, pressing = outside of a mathematical operation calculates and displays the nominal interest rate based on the stored data in the other variables in the menu.

To open the Iconv menu, press :& .

Nom %= displays on the top line, and the current value assigned to the nominal interest rate is displayed on the bottom line. At this screen, press 12I to enter a new current value for the nominal rate. Press < followed by = to calculate the current value for the effective rate. See Figure 1-2.

Figure 1-2

15

Basic Features

When an item for which the = key is valid displays, the small indicator (=) is displayed on the top line at the right of the screen. Do not confuse this small annunciator (=) with the larger annunciator (=) found to the right of a variable.

Editing Entries and Clearing

The On/CE O Key

Pressing O one time cancels current number entries, mathematical operations, or a menu selection, in that order.

Pressing O repeatedly while performing multiple actions or operations, or with multiple operations pending, cancels one operation at a time, from the latest to the earliest.

The Reset :x Menu

The Reset menu allows you to reset some, or all, of the menu items, variables, and registers to their default values.

To open the Reset menu, press : x .

TVM displays on the top line. Press

< repeatedly to scroll to a specific item. If you select the command to reset all values, All , you will be prompted to confirm your choice. To reset, press I .

At the All Reset message, press O or I to exit.

Pressing :x while working within a particular menu takes you directly to the item of the Reset menu that allows you to reset that menu. Say, for example, you

16

Basic Features are working in the Bond menu and you wish to reset all your entries in the Bond menu. From anywhere in the Bond menu, press screen. At this prompt, pressing

:x .

Bond displays on

I resets the Bond menu and returns you to the last item you were working with in the Bond menu.

Notes about Special Menus

The Mode, Memory, Math and Reset menus are special menus, because when you exit them by pressing O , you return to the previous menu (if any). This feature allows you to work in two or more menus simultaneously without having to exit a menu and lose your work.

Memory

The Cash Flow and Statistics menus share the same memory and are limited to a combined total of 50 memory slots.

Macros can record up to 120 keys.

Since entering data in menus can represent a significant amount of work, when the reset commands for the macro, cash flows, statistics and delete all ( Del.All? ) functions are used, you will be asked to confirm your choice. At the prompt, press

I to confirm, or O to cancel.

17

Basic Features

Accessing Menus and Menu Maps

Many of the 20b's functions are located within menus. To access a menu, press the key, or shift key combination for the menu in which you wish to work. To exit a menu, press O .

For example, to access the Break-even menu, press :!

. Once opened, you can scroll through the items in the menu by pressing >< repeatedly.

When you arrive at the last item in a menu, pressing item. Similarly, pressing

< returns you to the first

> one time on the first menu item scrolls to the last item in the menu.

In this manual, diagrams called Menu Maps are included at the beginning of each section to assist you in navigating through the menus used for that section. For an example of a menu map, see Figure 1-3 below.

Figure 1-3 The Menu Map for the Break-even Menu

18

Basic Features

There are four types of menu items:

1.

2.

3.

4.

Read/write.

Read/write menu items, such as Price= in the Breakeven menu shown above, are easily recognizable, because when they are selected, both the INPUT and small (=) annunciators are lit. When lit, these annunciators indicate that entering a number and pressing

I will store the entered number in the displayed menu item. By pressing = (outside of a mathematical operation) you will then calculate the value for that item based on data entered elsewhere in the menu.

Read-only.

Read-only items such as Internal Rate of Return ( IRR%= ) in the IRR menu are display-only; they are calculated values computed internally by the calculator.

Write-only.

Write-only items, such as investment interest rate ( Inv.

I%= ) in the Net Present Value (NPV) menu, are similar to read/write items in that the INPUT annunciator is lit when these items are selected, indicating that entering a number and pressing I stores that number in that menu item.

Special items.

Special items, such as the Degree/Radian option in the Mode menu, the items of the Reset menu, and the items of the

Percent Calculation (%calc ) menu perform an action when I is pressed. Depending on the menu, this action can be the selection of a sub-menu in the %calc menu, changing a mode or setting in the Mode menu, or erasing data with the Reset menu.

19

Mathematical Calculations

2 Mathematical Calculations

Mathematical Functions

Mathematical functions are located:

 On keys, such as, +-*/ etc.

 On shifted, or secondary functions, such as, :p

 In the Math menu :s

Number Entry and Display

Numbers are entered by pressing:

 Numbered keys, 0-9

 The decimal point .

 The } key

 The :w keys

To correct a number entry, press { . Each press of { erases the last digit or symbol you entered.

Change how numbers are displayed on screen with the options in the Mode menu. For more information on calculator display settings, see the section titled,

The Mode Menu: Setting Preferences.

20


To enter a number in the display, press the digits successively. A number can have up to 12 digits.

To change the sign of a number from positive to negative, press } .

Use scientific notation to enter very large and very small numbers. For example, to enter the number 12345.12 123 in scientific notation, first enter the mantissa,

12345, then press :w and enter the number representing the exponent,

123. The exponent must have a value between -499 and +499.

Chain Mode

By default, calculations are performed in Chain mode. To change the calculating mode, refer to the section titled, The Mode Menu: Setting Preferences.

Calculations in Chain mode are interpreted in the order in which they are entered.

For example, enter the following numbers and operations as written from left to right: 1+2*3 . See Figure 2-1. Note how if you press an operator key, +-*/ , after = , the calculation is continued using the currently displayed value.

Figure 2-1 Calculation in Chain Mode

In Chain mode, if you wish to override the left to right order of entry, use parentheses () to prioritize operations.

21


For example, to calculate 1+ (2 x 3), you may enter the problem as written from left to right, with parentheses to prioritize the multiplication operation. See Table

2-1 below.

Table 2-1 Simple Arithmetic Calculations in Chain Mode

Keys

1+

(2*3)

=

Display Description

Sets operational priority, inputs numbers, and multiplies 2 and

3.

Adds 1 to 6 and returns 7.00

on the bottom line as the final result.

Algebraic Mode

To set the calculator in Algebraic mode, refer to the section titled, The Mode

Menu: Setting Preferences.

In Algebraic mode, multiplication and division have a higher priority than addition and subtraction. For example, in Algebraic mode, pressing

1+2*3

returns a result of 7.00. In Chain mode, the same key presses return a result of

9.00.

In Algebraic mode, operations have the following priority:

22


 First priority: the power function (y x)

 Second priority: combinations and permutations

 Third priority: multiplication and division

 Fourth priority: addition and subtraction

For example, key in 1+2 x 5 nPr 2 2 in Algebraic mode by pressing:

1+2*5:b2:m= . The result is 241.

Reverse Polish Notation (RPN) Mode

To set the calculator in RPN mode, refer to the section titled, The Mode Menu:

Setting Preferences.

In RPN mode, numbers are entered first, separated by pressing I , followed by an operation key.

Note: pressing I is optional after entering a number if the next key pressed is an operation.

Each time you press an operation or function key, the answer is calculated immediately and displayed. For example, suppose you wanted to add two numbers in RPN, 1 and 2. Press 1I2+ . The result, 3.00, is calculated and displayed immediately on the bottom line along with the (+) symbol on the top line.

23


You do not need to enter parentheses to set the priority of your operations in

RPN. Key in numbers and operations inside the parentheses first, followed by those outside of the parentheses. If a problem has more than one set of parentheses, start by working with the operations and numbers in the innermost parentheses and work out. For example, calculate: (3 + 4) x (5 + 6).

One way to calculate this problem is to key in the numbers and operations within the parentheses first, followed by the operations outside of the parentheses. See

Table 2-2 below.

Table 2-2 Simple Arithmetic Calculations in RPN Mode

Keys

3I4+

5I6+

Display Description

Inputs the numbers and the operation in the first set of parentheses. Intermediate results are displayed. Note the (+) and

(RPN) annunciators.

Inputs the numbers and the operation in the second set of parentheses. Intermediate results are displayed. Note the (+) annunciator.

24


Table 2-2 Simple Arithmetic Calculations in RPN Mode

Keys

*

=

Display Description

Continues the operation with the displayed results.

Validates the final result of 77.

Note the absence of the (

* ) annunciator.

One-Number Functions and the Math Menu

The key presses for the one-number mathematical functions listed in Table 2-3 below apply to all modes, Chain, Algebraic, and RPN. To execute one-number functions:

1.

Key in a number, x , into the display.

2.

Press the key or key combination corresponding to the operation you wish to execute. The results are displayed on the bottom line.

For example, to calculate 6 , press

6:n

.

A result of 2.45 is calculated immediately and displays on the bottom line. The symbol appears on the top line.

25


Keys

:w

:p

:q

:r

:k

:l

:m

:n

Note: before doing any trigonometric calculations in the Math menu, check whether the angle mode is set for degrees ( Degrees) or radians (Radians).

You can change the setting if the active mode is not what your problem requires. For more information on the Mode menu and calculator settings, refer to the section titled, The Mode Menu: Setting Preferences.

Table 2-3 lists one-number functions along with their corresponding keys.

Table 2-3 Shifted Function Mathematical Operations

Description

Keys in numbers with explicit powers of 10.

Calculates sine.

Calculates cosine.

Calculates tangent.

Natural log.

e x. Calculates natural exponent to the power of x.

X2. Returns square of x.

Calculates square root.

26


Table 2-3 Shifted Function Mathematical Operations

Keys

:f

:g

:h

:i

:e

Description

Executes the Random function. Returns a random number in the range 0 < x <1.

Calculates factorial of x (where 0 ≤ x ≤ 253).

y x. Returns y to the x power.

Reciprocal.

Rounds x internally to the number specified by the display format. Default is two digits to the right of the decimal point.

The Math :s Menu

There are additional one-number functions available in the Math menu. To open the Math menu, press

:s

.

See Figure 2-2 for the menu map of the Math menu.

27

Figure 2-2 The Menu Map for the Math Menu

28



Press < to scroll through the menu items, starting with Trigonometry. The

Trigonometry, Hyperbolic, and Probability items have sub-menus. Press I with an item displayed to access the functions within the sub menus.

Press O to cancel the Math menu and return to current work.

Press :s to return to the top of the Math menu.

Using the Math menu, calculate Sin -1 (0.5). See Table 2-4.

Table 2-4 Math Menu Example

Keys

.5I

:s

Display Description

Enters 0.5 and opens the Math menu starting with Trigonometry.

I<

I or =

Selects the Trigonometry menu item and scrolls to ASIN. Note the value for Sin -1 is calculated immediately and displayed.

Validates the result.

Note: in the Math menu, PI does not perform calculations; it overrides the current number by PI. You may start an operation, use the Math menu to execute a

29

Mathematical Calculations function, and continue calculating with your original operation without losing your work.

Two-Number Functions

Apart from +-*/ , the three additional two-number functions accessible on the keyboard are:

 Y x

 nCr

 nPr

Y x is the power function; nCr stands for the number of combinations of elements, r, among n, and nPr stands for the number of permutations of elements, r, among n.

nCr=n!/(r!(n-r)!) nPr=n!/(n-r)!

Perform calculations with these functions in the same way you would perform calculations with +-/ and * , but press : to access the secondary function key. For example, to calculate 15 3 :

1.

Press 15

.

2.

Press :h

.

30


3.

Press 3=

.

The results are shown Figure 2-3.

Figure 2-3

In RPN mode, key in the numbers first, followed by I , then press the function key. For example, for the power function example above, in RPN press:

15I3:h .

Storing and Recalling Numbers

EURO has ten calculation memories available for use during calculations. These memories are numbered from 0-9. To store numbers, press :$ ; to recall them, press L . You can use the store and recall functions for these memories any time a number is displayed, or when you wish to enter a number. To store a number in a memory:

1.

Key in a number, x.

2.

Press :$ .

3.

With STO displayed on the top line, key in a number, 0-9, to identify the number of the memory register where you wish to store x.

31


4.

To recall a number, press L . With RCL displayed in the top line, key in the number of the memory you used.

You can also perform operations to stored numbers. For example, press

5:$2 to store 5 in memory 2. To add 12 to the value of memory 2, press press

+12).

12:$+2 . Later on, during a calculation, you can

L2 to recall memory 2. Note how the new current value is 17, (5

+-* and / are valid mathematical operations in the storage memories.

Recalling Stored Numbers

In RPN, typing 12L+2= adds the value of memory 2 to 12, but it will not modify the stored value of memory 2. You can also use and / after L .

-*

In Algebraic and Chain modes, press 12+L2= .

Rounding Numbers

The 20b performs all calculations internally with 15-digit precision and rounds to

12 digits when returning the results.

When displayed, a number is rounded to the number of digits after the decimal point set by the FIX= item in the Mode menu. The default setting is two digits to the right of the decimal point. For more information, refer to the section titled, The

Mode Menu: Setting Preferences.

32


Note: the FIX= setting only affects the display; it does not affect the actual numbers.

Simple Percentages

In Algebraic or Chain modes, pressing example, pressing

% divides a number by 100. For

25% returns 0.25.

To find a percentage of a given number, enter the number and multiply it by the desired percentage, followed by

25% of 200, press

= to return the result. For example, to find

200*25%= to return a result of

50.

To add or subtract a percentage of a number, enter the first number, followed by

+ or the percentage, followed by % .

Finish your calculation with

= , if desired. For example, to add 10% to 50, press

50+10%= to return a result of 55.

In RPN mode, the % key calculates x percent of the number on level two of the stack, when x is the number on level one of the stack. It does not modify the number on level two of the stack, allowing you to perform an addition or a subtraction after pressing % to add or subtract x % from the number.

For example, 200I25% returns 50, but 200 is still on level two of the stack, and pressing returns 150, or 200-25%, with the (-) annunciator displayed on the top line.

33

3 Statistical Operations

Statistical Operations

Figure 3-1 The Menu Map for the Data and Statistics Menus

34


Statistics operations require the use of two secondary function keys: and

:y

:z . See Figure 3-1 for assistance with navigating through the menus.

Press :y to open the Data menu. In this menu, enter a list of x values for one-variable statistics, a list of pairs, (x, w) for weighted, one-variable statistics, or a list of paired values (x, y) for two-variable statistics. To enter data, key in a number and press I .

Press :z to analyze the data. If you attempt to open the Statistics (Stats) menu before entering data, you will be redirected to the Data menu. When opened, the menu displays 2 Vars. Press I repeatedly to scroll through the menu items, two-variable, ( 2 Vars ), one-variable, (1 Var ), and one-variable weighted, ( 1 Weight ). Press < with an item displayed to open the first submenu. To return from the sub-menu to the menu above it, press > .

To reset the Stats and Data menus, press confirm your choice by pressing I .

:x . At the prompt, Stats=,

The first sub-menu contains the following items: Descriptions, Predictions (2 Vars only) and Sums. Press > or < repeatedly to scroll through the items. With an item displayed, press I to open its sub-menu. Press > or < repeatedly to view the results.

Note: in one-variable and one-weight items, there are no items for y. For an example using the Stats menu, see Tables 3-1 and 3-2. The example is shown with RPN as the active operating mode.

35


Sales for the last five months are represented by the pairs of values shown below, with the month number as x, and the sales values as y. Enter these into the Data menu. Using the Stats menu for Predictions, predict sales for month seven. What is the slope and y-intercept of the linear regression line?

What is the sum of all the y values?

Table 3-1 Months and Sales Numbers

3

4

5

Month

1

2

Sales Values

150

165

160

175

170

Table 3-2 Statistics Example

Keys

:y

Display Description

Opens Data menu starting with the current value for

X(1).

36


Keys

1I1

50I

Display

2I1

65I

3I1

60I

4I1

75I

5I1

70I

:z


Description

Inputs current values for X(1) and Y(1). Displays current value for X(2).





Opens Stats menu.

37



Keys

<

Display

I<<

:z<<

I

<

7I

<=

<

<

38

Description

Opens Descriptive submenu.

Displays current value for y average.

Opens Predictions sub-menu starting with Linear.

Scrolls to current value of

Prediction X.

Inputs current value for

Prediction X (month).

Calculates predicted Y value

(sales).

Displays current value for slope.

Displays current value for yintercept.


Keys

<

Display

:z<<

<I<


Description

Displays current value for

Correlation.

Opens Sums sub-menu.

Displays current value for the sum of all y values (Sigma

Y).

39

Time Value of Money

4 Time Value of Money

The examples in the following sections are calculated with the Mode menu preferences in their default settings, unless otherwise noted. For more information about basic features and setting preferences, see Chapter 1, Basic

Features.

:&

DWN

NOM%=

DWN

EFF%=

DWN

P/YR=

Figure 4-1 The Menu Map for the Interest Conversion Menu

Interest Conversion Menu

To open the Interest Conversion menu (Iconv) press :&

.

To reset the variables to their default values, from anywhere inside the menu, press :x . With Iconv displayed, press I to reset, or O to cancel .

To exit the menu, press O once again. See Figure 4-1. Table 4-1 describes the items of the Iconv menu.

40

Time Value of Money

Table 4-1 Interest Conversion Menu Items

Item

Nom%=

Eff%=

P/YR=

Description

The stated annual interest rate compounded periodically, such as 18% compounded monthly.

The rate, that compounded only once, that is, annually, would produce the same final value as the nominal rate.

Payments or compounding periods per year. Default is 12.

Using the Iconv menu, find the effective rate of a 36.5% nominal rate compounded daily. See Figure 3-1 for help with navigating through the menu. This example is calculated with RPN as the active operating mode.

See Table 4-2.

Table 4-2 Interest Rate Conversion Example

Keys

:&

36.

5I

Display Description

Opens the Iconv menu, starting with the current value of the nominal percentage rate.

Inputs 36.5 as the current nominal percentage rate.

41

Time Value of Money

Table 4-2 Interest Rate Conversion Example

Keys

>

365

I

>=


Scrolls to payments per year, P/YR.

Default value is 12.

Inputs 365 as the current value for the number of compounding periods or payments per year.

Scrolls to the variable for the effective rate, Eff%=. Returns the effective rate.

A 36.5% nominal rate compounded daily equals an effective rate of

44.03%.

TVM Keys and Entering Values

For a list of keys used for TVM problems along with their descriptions, see Table

4-3.

To reset the TVM variables to their default values, with any TVM variable displayed, press :x . With TVM displayed, press I . At the TVM

Reset prompt, press I or O .

42

Time Value of Money

To input current data, enter a number followed by the TVM key for the required item. To calculate an unknown value, enter all known values and press the key of the item you want solved. For a TVM example, see Table 4-4.

Table 4-3 TVM Keys

Keys

N

^

Y

V

M

[

Description

Stores or calculates the number of payments or compounding periods (N).

Multiplies a value by the number of payments per year and stores as N .

Stores or calculates the nominal annual interest rate as a percentage.

Stores or calculates the present value (PV). To a lender or borrower, PV is the amount of a loan; to an investor, PV is the initial investment. PV always occurs at the beginning of the first period.

Stores or calculates the dollar amount of each periodic payment (PMT). Payments can occur at the beginning or end of each compounding period.

Stores or calculates the number of payments or compounding periods per year.

43

Time Value of Money

Table 4-3 TVM Keys

Keys

F

?

]

Description

Stores or calculates the future value (FV), a final cash flow.

FV always occurs at the end of the last compounding period.

Sets Begin mode (Beg). Payments occur at the beginning of each compounding period.

Sets End mode (End). Payments occur at the end of each compounding period.

You borrow $140,000.00 from a credit union for 30 years (360 months) at

6.5% annual interest, compounded monthly. What is your monthly payment to the credit union? Note: at the end of the 30 years, you expect to have a zero balance ( FV=0 ). The example below in Table 4-4 is shown with RPN as the active operating mode.

Table 4-4 TVM Example

Keys

12:

[


Inputs 12 as the current value for the number of payments, or compounding periods.

44

Time Value of Money

Table 4-4 TVM Example

Keys

360

N

6.5

Y

1400

00

V

Display

0 F

M

Description

Inputs 360 as the current value for the number of payments over 30 years.

Inputs 6.5 as the current value for the interest rate percentage per year.

Inputs the present value of the loan at the time of the first payment. This value is positive (+); it is money you receive.

Inputs the future value of the loan (or remaining balance) as 0.

Returns the monthly payment. This result is negative (-); it is money you pay out.

Amortization

Refer to Figure 4-2 for a menu map of the Amortization menu. Table 4-5 lists the keys and variables of the Amortization menu. To open the menu, press A .

45

Time Value of Money

The Amortization menu calculations are based on values stored in the following

TVM keys: N , Y, V, M and [ .

To enter current data for the TVM keys, enter a number followed by the key for the required item.

To reset the variables to their default values, from anywhere in the press

A menu,

:x . With TVM displayed, press I . At the TVM Reset prompt, press I or O .

For an amortization example, see Table 4-6.

Figure 4-2 The Menu Map for the Amortization Menu

Table 4-5 Amortization Menu Items

Menu Item/Key

A

Description

Opens the Amortization (amrt) menu starting with

Nb Per=.

46

Time Value of Money

Table 4-5 Amortization Menu Items

Menu Item/Key

Nb Per=

Description

Number of periods to group together in the amortization calculation. The default value is the number of payments per year defined by the [ key.

Start=

Balance=

Principle=

Interest=

Period on which to start amortization. Default is 1. If you want to amortize for the 2 nd year, enter 13 (the second year starts at the 13 th payment).

The loan balance at the end of the assigned amortized period.

Amount of the loan payment applied to the principle at the end of the amortized period.

Amount of the loan payment applied to the interest at the end of the amortized period.

Enter the values for the TVM keys from the example below. Press by > or < to view the amortization schedule.

A followed

You borrow $140,000.00 for 360 months at 10% interest from a credit union.

Create an amortization schedule for the loan. How much interest did you pay for the first year? What is the balance of your loan after the first year? See

47

Time Value of Money

Table 4-6. The example below is shown with RPN as the active operating mode.

Table 4-6 Amortization Example

Keys

12:

[

30:

^

10

Y

1400

00

V

0F

M


Inputs current value of payments per year as 12.

Inputs 360 (30 times 12 payments per year) as the current value for the number of payments for the 30-year loan.

Inputs 10 as the current interest rate percentage per year.

Inputs the current present value of the loan at the time of the first payment.

Inputs the current future value of the loan as 0 (zero balance).

Returns the result for the monthly payment.

48

Time Value of Money

Table 4-6 Amortization Example

Display Keys

A

<

<

<

<

<

Description

Displays the current period of amortization in months. Default is 12.

Displays the number of the starting payment in first period to amortize.

Displays the current balance remaining after the first year.

Displays the current amount of principle applied towards the loan for the first year.

Displays the amount of interest paid on the loan for the first year. The amount of your payments applied towards interest for the first year is about

$14,000.00.

Displays the first payment in the next period to amortize (the 2 nd year).

49

5 Cash Flows

Cash Flows

Figure 5-1 Cash Flow Diagram

A cash flow list is a set of numbered pairs, CF(n) and #CF(n), where n is the index of the cash flow list. Each pair represents a single cash flow.

CF(n) represents the monetary value of the cash flow; #CF(n) is the number of consecutive occurrences of that cash flow. By default, #CF(n) is equal to 1, as most cash flows occur only once. However, in cases where a cash flow is

50

Cash Flows repeated multiple times in a list, using #CF(n) instead of entering the cash flow value multiple times can save you time and memory space in the calculator.

To enter a cash flow list, press C to open the cash flow menu.

For each cash flow item, enter the cash flow followed by number of occurrences followed by I .

I

; then enter the

If a cash flow occurs once, you do not need to type press I , as 1 is the default.

1I

; you can simply

To reset a cash flow list to its default values, with any cash flow displayed, press

:x

.

The number of cash flows in the list, along with Cash Flow= , displays.

At this prompt, press I

.

You will be asked to confirm your choice. Either press I to confirm and O to return to the cash flow list, or press O to cancel. Pressing O once again after you cancel the reset command also returns you to the cash flow list.

Table 5-1 lists the keys used for cash flow problems. For a cash flow example, see Table 5-2.

Table 5-1 Cash Flow Keys

Key

C

Description

Opens the cash flow list.

51

Cash Flows

Table 5-1 Cash Flow Keys

Key

I

>< o j

RP

Description

Inputs current values to variables in the cash flow list as well as the Net Present Value (NPV) and Internal

Rate of Return (IRR) menus.

Scrolls up and down.

Inserts cash flows into a cash flow list.

Removes cash flows from a cash flow list.

Opens internal rate of return (IRR) and Net Present

Value (NPV) menus.

After an initial investment of $80,000.00, you expect returns over the next five years as follows: cash flow 1, $5,000.00, cash flow 2, $4,500.00, cash flow 3, $0.00, cash flow 4, $4,000.00, cash flow 5, $5,000.00, 5 times, cash flow 6, $115,000.00.

Given this information, calculate the total of the cash flows and the internal rate of return (IRR) of the investment. Calculate net present value (NPV) and net future value (NFV), assuming an annual investment interest rate of 10.5%. See Figure

5-1 and Table 5-2. The example below is shown with RPN as the active operating mode.

52

Cash Flows

Table 5-2 Cash Flow Example

Display Keys

C

8000

0}

I

I

5000

Description

Opens the cash flow list starting with the current value of the initial cash flow, CF(0).

Keys in -80000 as the value of the initial cash flow. Note: the sign of the cash outflow is negative.

Inputs the current value of -80000 for CF(0). Displays the current value, 1, for the frequency of CF(0).

Inputs the current value of 1 for the frequency of CF(0). Displays the current value of CF(1).

Keys in 5000 as the value of

CF(1).

53

Cash Flows


Display Keys

I

I

4500

I

I

Description

Inputs the current value of CF(1) as 5000. Displays the current value, 1, for the frequency of

CF(1).

Inputs the current value of 1 for the frequency of CF(1). Displays current value of CF(2).

Keys in 4500 as the current value of CF(2).


CF(2).

Inputs the current value of 1 for frequency of CF(2). Displays the current value of CF(3).

54

Cash Flows


Display Keys

I

I

4000

I

I

5000

55

Description

Inputs the current value of CF(3) as 0. Displays the current value,

1, for the frequency of CF(3).




CF(4).



Cash Flows


Display Keys

I

5

I

11500

0

I

I

56

Description

Assigns the current value of

CF(5) as 5000. Displays the current value, 1, for the frequency of CF(5).

Keys in 5 as the current value for the frequency of CF(5).




CF(6).

Inputs the current value of 1 for frequency of CF(6). Ends list.

Cash Flows

Analyzing Cash Flows

The various functions used to analyze cash flows are located in the NPV

IRR R menus.

P and

If you press R or P before entering cash flows, you will be redirected to the cash flow menu to enter values into the cash flow list.

The menu maps for the IRR and NPV menus are shown in Figure 5-2. Table 5-3 describes the items within these menus.

57

Figure 5-2 The Menu Map for the NPV and IRR Menus

58

Cash Flows

Cash Flows

Table 5-3 NPV and IRR Menu Items

Item

Inv. I%=

Net PV=

Net FV=

Description

Investment or discount rate. Enter the investment rate or discount rate for the cash flow followed by I.

Net present value. Returns the value of the cash flows at the time of the initial cash flow, discounting the future cash flows by the value set for Inv. I%.

Net future value. Returns the value of the cash flows at the time of the last cash flow, discounting the earlier cash flows by the value set for Inv. I%.

Net US=

Payback=

Net uniform series. The per-period payment of a regular, periodic cash flow of equivalent present value to the cash flow list.

Payback. The number of periods for the investment to return value.

Discounted Payback= Discounted Payback. The number of periods required for the investment to return value if the cash flows are discounted using the value set in Inv. I%.

59

Cash Flows

Table 5-3 NPV and IRR Menu Items

Item

Total=

R IRR%=

Description

The sum of all the cash flows, equivalent to NPV if Inv.

I% is 0.

Internal rate of return. This is the discount rate for the cash flow that returns a Net Present Value of 0.

See Table 5-4 for an example of the NPV and IRR functions using the cash flow example in Table 5-2. Press P and R to open the menus. At Inv. I%, key in a number followed by I . Scroll through the menus by pressing > or

< repeatedly. The example below is shown with RPN as the active operating mode.

Table 5-4 NPV and IRR Example

Keys

P


Opens NPV menu starting with current value of Inv. I%.

Inputs 10.5 as current Inv. I%.

10.

5

I

< Scrolls to current value for NPV.

60

Cash Flows

Table 5-4 NPV and IRR Example

Keys

<


Scrolls to current value for NFV.

<

Scrolls to current value for Net US.

<

Scrolls to current value for Payback.

<<

R

Scrolls to current value of cash flow total.

Returns current value for IRR.

Editing Cash Flows

In the cash flow list, you can view and modify the current values of a specific cash flow, or cash flows. Press > or < repeatedly to scroll through the list. To modify an entry, type a new number and press I with a cash flow displayed.

For example, to change the current value of CF(7) in the example in Table 5-2 from 0 to 200, with CF(7)= displayed, press 200 and press I .

You can also modify the frequency of a cash flow in the same manner with the frequency, #CF(n) =, displayed. Pressing :j with a cash flow displayed erases the displayed cash flow. Pressing :o inserts a cash flow into the list before the displayed cash flow.

61

6 Business Problems

Business Problems

Figure 6-1 The Menu Map for the Percent Calculation (%calc) Menu

Press :# to open the menu. There are four items in this menu: markup as a percentage of cost ( Mkup. %C ), markup as a percentage of price (Mkup. %P ), percent change ( %Change ), and part as a percentage of total (Part%Tot. ).

These items allow you to access sub-menus. Press > or < repeatedly to

62

Business Problems scroll to the item you require. Press I with a menu item displayed to access its-sub menu. To enter data in the sub-menus, select the appropriate menu item, key in the number, and press the menu item you need solved and press

I . Press > or < to select

= to calculate it.

To return to the menu items from within a sub-menu, press O .

Note: for business problems using 20b, margin is based on price; markup is based on cost.

To reset the menu items to their default values, from anywhere in the %calc menu press :x . With TVM displayed, press > or < to scroll until %Calc displays and press I . Press O to exit the menu. See Tables 6-1 through 6-3 for examples of calculations in the %calc menu. The examples below are shown with RPN as the active operating mode.

1.

Find the markup on an item if the cost price is $15.00 and the selling price is $22.00. See Table 6-1.

Table 6-1 Markup Example

Keys

:#

I

Display Description

Opens the %calc menu starting with Mkup.%C.

Displays the current value of

Cost=.

63

Business Problems

Table 6-1 Markup Example

Keys

15 I

<

22

<

=

I

Display Description

Inputs 15 as the current value for cost.

Scrolls to Price= and displays the current value.

Inputs 22 as the current value for price.

Scrolls to Mkup.%C variable. Note the (=) symbol. Displays the current value of markup.

Returns result of 46.67 for markup.

2.

Find the percent change between 20 and 35 with no compounding.

64

Business Problems

Table 6-2 Percent Change Example

Keys

:#

Display

<<<

I

20I

<

35I

<

=

Description


Scrolls to %Change.

Displays the current value for Old=.

Inputs 20 as the current value for

Old=.

Displays the current value for

New=.


New=.


%Change=. Note: the (=) symbol.

Calculates the current value for

%Change=.

65

Business Problems

3.

What is 30% of 80?

Table 6-3 Part % of Total Example

Keys

:#

Display

<<

I

80I

<

30I

<

Description


Scrolls to the Part %Tot. menu item.


Total=.


Total=.

Scrolls to the current value of

Part=.


Part=.

Scrolls to the current value for Part

% Tot.=. Note the (=) symbol.

66

Business Problems

Table 6-3 Part % of Total Example

Keys

=

Display Description

Calculates the current value of Part

% Tot.=. 30 is 37.50% of 80.

67

Bonds

7 Bonds

Figure 7-1 The Menu Map for the Bond Menu

Before you enter the Bond menu, be sure to check that the date format is set in the format required for your problem. The default setting is mm.dd yyyy, but it can be set for dd.mm yyyy. Bond day counts (360/365) and annual or semiannual coupon payment schedules may be set from either the Mode menu or the Bond menu. For more information on setting the preferences in the Mode Menu, see the section titled, The Mode Menu: Setting Preferences.

To open the Bond menu, press B .

68

Bonds

Press > or < repeatedly to scroll through the items shown in Figure 7-1.

To input current data, with an item displayed, key in a number and press

Press

I .

> or < repeatedly to scroll to an unknown item, and press = to calculate it.

To reset the values to their default values, from anywhere in the Bond menu, press :x . With Bond displayed, press I to reset the menu or O to cancel. Press O again to exit the menu.

Table 7-1 lists the items in the Bond menu. For an example of calculating price and yield in the Bond menu, see Table 7-2.

Table 7-1 Bond Menu

Variable

Settlement Date=

Maturity Date=

CPN%=

Description

Settlement date. Displays the current settlement date in either mm.ddyyyy or dd.mmyyyy format.

Note: input only.

Maturity date or call date. The call date must coincide with a coupon date. Displays the current maturity date in either mm.ddyyyy or dd.mmyyyy

format. Note: Input only.

Coupon rate stored as an annual %. Note: Input only.

69

Bonds

Table 7-1 Bond Menu

Variable

Call=

Yield%=

Price=

Accrued=

Actual/Cal.360

Description

Call value. Default is set for a call price per

$100.00 face value. A bond at maturity has a call value of 100% of its face value. Note: Input only.

Yield% to maturity or yield% to call date for given price. Note: Input/Output.

Price per $100.00 face value for a given yield.

Note: Input/Output.

Interest accrued from the last coupon or payment date until the settlement date for a given yield.

Note: Input/Output.

Actual (365-day calendar) or Cal.360 (30-day month/360-day year calendar).

Bond coupon (payment) frequency.

Annual/Semiannual

What price should you pay on April 28, 2010 for a 6.75% U.S. Treasury bond maturing on June 4, 2020, if you want a yield of 4.75%? Assume the bond is calculated on a semiannual coupon payment on an actual/actual basis. See

70

Bonds

Table 7-2. The example below is shown with RPN as the active operating mode.

Table 7-2 Bond Calculation Example

Key

B

Display

>

I

<

4.28

2010

I

Description

Opens the Bond menu starting with the current settlement date.

Scrolls to bond coupon (payment) frequency.

Selects semiannual coupon payment, as required by the example.

Inputs semiannual coupon payment and returns to the current settlement date.

Inputs the current settlement date in mm.ddyyyy format. Note: 3 in the display represents the day of the week.

71

Bonds


Key

<

Display

6.04

2020

I

<

6.75

I

<

<

4.75

I

72

Description

Displays the current maturity date in mm.ddyyy format.

Inputs the current maturity date.

Note: 4 in the display represents the day of the week.


CPN%=.

Inputs 6.75 as current value for

CPN%=.

Displays current call value. Default is 100. Note: if Call= requires another value, key in the number followed by

I

.


Yield%=.

Inputs 4.75 as the current value for

Yield%=.

Bonds


Key

<

Display

=

:$1

<

:$2

OL1+

L2=

Description


Price=.

Calculates the current value for

Price=.

Stores 115.89 in memory 1.

Displays the current value for accrued interest.

Stores 2.69 in memory 2.

Returns the result for total price

(value of price + value of accrued interest). The net price you should pay for the bond is $118.58.

73

Depreciation

8 Depreciation

Figure 8-1 The Menu Map for the Depreciation Menu

Press :\ to open the Depreciation menu. Press I to cycle through the depreciation methods. With a depreciation method displayed, press > or

< repeatedly to view the items of the sub-menu. To enter current data, key in a number and press I .

To reset the Depreciation menu, press press

:x . With Depreciation displayed,

I to reset the menu or O to cancel. Press O again to exit the menu.

74

Depreciation

Brief descriptions of the methods used to calculate depreciation are provided in

Table 8-1. Table 8-2 describes the items found in the depreciation sub-menus.

For an example calculating depreciation using the straight-line method, see Table

8-3.

Table 8-1 Depreciation Methods

Depreciation

Method

Sline

Description

Straight line is a method of calculating depreciation presuming an asset loses a certain percentage of its value annually at an amount evenly distributed throughout its useful life.

SOYD

Sum-of-the-years' digits is an accelerated depreciation method based on the idea that the years of an asset's useful life are divided by the sum of the years counting backwards. For example, a five year useful life would be shown as 5 + 4 + 3 + 2 + 1= 15. Press 4 / 15, then press = to return a 27% depreciation for the first year.

In RPN, press 4 I 15 /.

75

Depreciation

Table 8-1 Depreciation Methods

Depreciation

Method

DecBal

Description

Declining balance is an accelerated depreciation method that presumes an asset will lose the majority of its value during the first few years of its useful life.

DBXover

Declining balance crossover is an accelerated depreciation method that presumes an asset will lose the majority of its value in the first few years of its useful life, but that it will revert to a consistent depreciation during the latter part of its life, which is then calculated using the straight line method.

ACRS

Accelerated Cost Recovery System calculates the amount of tax deduction under U.S. Accelerated Cost Recovery

System.

Sl Fr

Straight line French. This method of depreciation is similar to the Straight line method, except an actual calendar date in mm.dd format is entered in for Start= to indicate when the asset was first placed into service.

76

Depreciation

Table 8-2 Depreciation Menu Items

Item

Life=

Start=

Cost=

Salvage=

Year=

Depreciation=

R.Book Value=

R.Depreciable Value=

Description

The expected useful life of the asset in whole years.

Start refers to the date or month in which the asset is first placed into service. Depending on the type of depreciation, this can be the month, or the actual date in mm.dd format.

The depreciable cost of the asset at acquisition.

The salvage value of the asset at the end of its useful life.

Assigns the value of the year for which you want the depreciation.

Depreciation calculation used for straight line,

SOYD, and declining balance methods only.

Remaining book value.

Remaining depreciable value.

77

Depreciation

Table 8-2 Depreciation Menu Items

Item

Factor=

Description

The declining balance factor as a percentage. This is used for declining balance and declining balance crossover methods only.

A metalworking machine, purchased for $10,000.00, is to be depreciated over five years. Its salvage value is estimated at $500.00. Using the straight-line method, find the depreciation and remaining depreciable value for each of the first two years of the machine's life. See Table 8-3.

Table 8-3 Straight Line Depreciation Example

Key

:\

<

5I

Display Description

Opens the Depreciation menu starting with the straight line method.

Displays the current value of the useful life.

1 is the default value.

Inputs 5 as the current value for the useful life.

78

Depreciation


Key

<

<

1000

0I

<

500I

<

<

<

Display Description


Start=. 1 is the default value.


Cost=.

Inputs the current value for cost as

10,000.00.


Salvage=.

Inputs the current value for salvage as 500.00.

Displays the current year of the depreciation.

1 is the default value.

Displays the current depreciation amount after year 1.

Displays the current remaining book value after year 1.

79

Depreciation


Key

<

<

<

<

<

Display Description

Displays the current remaining depreciable value after year 1.

Displays the current year of the depreciation.

Displays the current depreciation amount after year 2.

Displays the current remaining book value after year 2.

Displays the remaining depreciable value after year 2.

80

Break-even

9 Break-even

Figure 9-1 The Menu Map for the Break-even Menu

Press :!

to open the Break-even menu. Starting with Fixed=, input known data by entering a number and pressing I . Scroll to the unknown variable by pressing > or < repeatedly. Press = to calculate it.

To reset the Break-even menu, from anywhere in the menu press :x . With

BrkEven displayed, press I to reset the menu or O to cancel. Press

O again to exit the menu.

The sale price of an item is $300.00, the variable cost price is $250.00, and the fixed costs are $150,000.00. How many units would have to be sold to break even (profit = 0%)? This example is shown in Table 9-1 with RPN as the active operating mode.

81

Break-even

Table 9-1 Break-even Example

Keys

:!

Display

1500

00I

<

250I

<

300I

<

I

82

Description

Opens the Break-even menu starting with the current value for fixed costs.

Inputs the current value for fixed costs as 150,000.00.

Displays the current vale for Cost=.

Inputs the current value for cost as

250.00.


Price=.

Inputs the current value for price as

300.00.


Profit=.

Inputs the current value for profit as

0.

Break-even

Table 9-1 Break-even Example

Keys

<

Display

=

Description


Quantity=.

Calculates the current value for the unknown item. 3000 units would have to be sold to return a 0% profit.

83

Warranty, Regulatory, and Contact

Information

10 Warranty, Regulatory, and Contact Information

Replacing the Batteries

Use only fresh batteries. Do not use rechargeable batteries. EURO takes two, 3volt CR2032 lithium batteries. To install a new battery:

1.

With the calculator turned off, slide the back cover off.

2.

Remove the old batteries.

3.

Insert new batteries, with the positive polarity symbol facing outward.

4.

Replace the back cover.

Warning!

There is danger of explosion if the battery is incorrectly replaced.

Replace only with the same or equivalent type recommended by the manufacturer. Dispose of used batteries according to the manufacturer's instructions. Do not mutilate, puncture, or dispose of batteries in fire. The batteries can burst or explode, releasing hazardous chemicals.

HP Limited Hardware Warranty and Customer Care

This HP Limited Warranty gives you, the end-user customer, express limited warranty rights from HP, the manufacturer. 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 applicable local law or special written agreement with HP.

Limited Hardware Warranty Period

Duration: 12 months total (may vary by region, please visit www.hp.com/support for latest information)

General Terms

84


Information

HP warrants to you, the end-user customer, that HP hardware, accessories and supplies will be free from defects in materials and workmanship after the date of purchase, for the period specified above. If HP receives notice of such defects during the warranty period, HP will, at its option, either repair or replace products which prove to be defective. Replacement products may be either new or likenew.

HP warrants to you that HP software will not fail to execute its programming instructions after the date of purchase, for the period specified above, due to defects in material and workmanship when properly installed and used. If HP receives notice of such defects during the warranty period, HP will replace software media which does not execute its programming instructions due to such defects.

HP does not warrant that the operation of HP products will be uninterrupted or error free. If HP is unable, within a reasonable time, to repair or replace any product to a condition as warranted, you will be entitled to a refund of the purchase price upon prompt return of the product with proof of purchase.

HP products may contain remanufactured parts equivalent to new in performance or may have been subject to incidental use.

Warranty does not apply to defects resulting from (a) improper or inadequate maintenance or calibration, (b) software, interfacing, parts or supplies not supplied by HP, (c) unauthorized modification or misuse, (d) operation outside of the published environmental specifications for the product, or (e) improper site preparation or maintenance.

HP MAKES NO OTHER EXPRESS WARRANTY OR CONDITION WHETHER

WRITTEN OR ORAL. TO THE EXTENT ALLOWED BY LOCAL LAW, ANY

IMPLIED WARRANTY OR CONDITION OF MERCHANTABILITY,

SATISFACTORY QUALITY, OR FITNESS FOR A PARTICULAR PURPOSE IS

LIMITED TO THE DURATION OF THE EXPRESS WARRANTY SET FORTH

ABOVE. Some countries, states or provinces do not allow limitations on the duration of an implied warranty, so the above limitation or exclusion might not apply to you. This warranty gives you specific legal rights and you might also have other rights that vary from country to country, state to state, or province to province.

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TO THE EXTENT ALLOWED BY LOCAL LAW, THE REMEDIES IN THIS

WARRANTY STATEMENT ARE YOUR SOLE AND EXCLUSIVE REMEDIES.

EXCEPT AS INDICATED ABOVE, IN NO EVENT WILL HP OR ITS SUPPLIERS

BE LIABLE FOR LOSS OF DATA OR FOR DIRECT, SPECIAL, INCIDENTAL,

CONSEQUENTIAL (INCLUDING LOST PROFIT OR DATA), OR OTHER

DAMAGE, WHETHER BASED IN CONTRACT, TORT, OR OTHERWISE. Some countries, States or provinces do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation or exclusion may not apply to you.

The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. HP shall not be liable for technical or editorial errors or omissions contained herein.

FOR CONSUMER TRANSACTIONS IN AUSTRALIA AND NEW ZEALAND: THE

WARRANTY TERMS CONTAINED IN THIS STATEMENT, EXCEPT TO THE

EXTENT LAWFULLY PERMITTED, DO NOT EXCLUDE, RESTRICT OR

MODIFY AND ARE IN ADDITION TO THE MANDATORY STATUTORY RIGHTS

APPLICABLE TO THE SALE OF THIS PRODUCT TO YOU.

Customer Care

In addition to the one year hardware warranty your HP calculator also comes with one year of technical support. If you need assistance, HP customer care can be reached by either email or telephone. Before calling please locate the call center nearest you from the list below. Have your proof of purchase and calculator serial number ready when you call.

Telephone numbers are subject to change, and local and national telephone rates may apply. A complete list is available on the web at: www.hp.com/support .

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Regulatory Information

Federal Communications Commission Notice

This equipment has been tested and found to comply with the limits for a Class B digital device, pursuant to Part 15 of the FCC Rules. These limits are designed to provide reasonable protection against harmful interference in a residential installation. This equipment generates, uses, and can radiate radio frequency energy and, if not installed and used in accordance with the instructions, may cause harmful interference to radio communications. However, there is no guarantee that interference will not occur in a particular installation. If this equipment does cause harmful interference to radio or television reception, which can be determined by turning the equipment off and on, the user is encouraged to try to correct the interference by one or more of the following measures:

• Reorient or relocate the receiving antenna.

• Increase the separation between the equipment and the receiver.

• Connect the equipment into an outlet on a circuit different from that to which the receiver is connected.

• Consult the dealer or an experienced radio or television technician for help.

Modifications

The FCC requires the user to be notified that any changes or modifications made to this device that are not expressly approved by Hewlett-Packard Company may void the user’s authority to operate the equipment.

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Declaration of Conformity for

Products Marked with FCC Logo,

United States Only

This device complies with Part 15 of the FCC Rules. Operation is subject to the following two conditions: (1) this device may not cause harmful interference, and

(2) this device must accept any interference received, including interference that may cause undesired operation.

If you have questions about the product that are not related to this declaration, write to


P. O. Box 692000, Mail Stop 530113

Houston, TX 77269-2000

For questions regarding this FCC declaration, write to


P. O. Box 692000, Mail Stop 510101

Houston, TX 77269-2000 or call HP at 281-514-3333

To identify your product, refer to the part, series, or model number located on the product.

Canadian Notice

This Class B digital apparatus meets all requirements of the Canadian Interference-

Causing Equipment Regulations.

Avis Canadien

Cet appareil numérique de la classe B respecte toutes les exigences du Règlement sur le matériel brouilleur du Canada.

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European Union Regulatory Notice

This product complies with the following EU Directives:

•

Low Voltage Directive 2006/95/EC

• EMC Directive 2004/108/EC

Compliance with these directives implies conformity to applicable harmonized

European standards (European Norms) which are listed on the EU Declaration of

Conformity issued by Hewlett-Packard for this product or product family.

This compliance is indicated by the following conformity marking placed on the product:

This marking is valid for non-Telecom products and EU harmonized Telecom products (e.g.

Bluetooth).

xxxx

*

This marking is valid for EU non-harmonized

Telecom products .

*Notified body number (used only if applicable - refer to the product label)

Hewlett-Packard GmbH, HQ-TRE, Herrenberger Srasse 140, 71034 Boeblingen,

Germany

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Japanese Notice

Disposal of Waste Equipment by Users in

Private Household in the European Union

This symbol on the product or on its packaging indicates that this product must not be disposed of with your other household waste. Instead, it is your responsibility to dispose of your waste equipment by handing it over to a designated collection point for the recycling of waste electrical and electronic equipment. The separate collection and recycling of your waste equipment at the time of disposal will help to conserve natural resources and ensure that it is recycled in a manner that protects human health and the environment. For more information about where you can drop off your waste equipment for recycling, please contact your local city office, your household waste disposal service or the shop where you purchased the product.

Perchlorate Material - special handling may apply

This calculator's Memory Backup battery may contain perchlorate and may require special handling when recycled or disposed in California.

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Table 10-1 Contact Information

Country/Region

Africa (English)

Africa (French)

Argentina

Australia

Austria

Belgium (French)

Belgium (English)

Bolivia

Brasil

Canada

Caribbean

Chile

China

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Contact www.hp.com/support www.hp.com/support

0-800-555-5000

1300-551-664

01 360 277 1203

02 620 00 85

02 620 00 86

800-100-193

0-800-709-7751

800-HP-INVENT

1-800-711-2884

800-360-999

010-68002397


Information


Country/Region

Colombia

Costa Rica

Czech Republic

Denmark

Ecuador

El Salvador

Finland

France

Germany

Greece

Guatemala

Honduras

Hong Kong

Hungary

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Contact

01-8000-51-4746-8368

0-800-011-0524

296 335 612

82 33 28 44

800-711-2884

800-6160

09 8171 0281

01 4993 9006

069 9530 7103

210 969 6421

1-800-999-5105

800-711-2884

852 2833-1111 www.hp.com/support


Information


Country/Region

India

Indonesia

Ireland

Italy

Japan

Korea

Malaysia

Mexico

Middle East International

Netherlands

New Zealand

Nicaragua

Norway

Panama

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Contact www.hp.com/support/india

+65 6100 6682

01 605 0356

02 754 19 782

81-3-6666-9925 www.hp.com/support/korea

+65 6100 6682

01-800-474-68368 www.hp.com/support

020 654 5301

0800-551-664

1-800-711-2884

23500027

001-800-711-2884


Information


Country/Region

Paraguay

Peru

Philippines

Poland

Portugal

Puerto Rico

Russia

Singapore

South Africa

South Korea

Spain

Sweden

Switzerland (French)

Switzerland (German)

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Contact

(009) 800-541-0006

0-800-10111

+65 6100 6682 www.hp.com/support

021 318 0093

1-877 232 0589

495 228 3050

6100 6682

0800980410

2-561-2700

913753382

08 5199 2065

022 827 8780

01 439 5358


Country/Region

Switzerland (Italian)

Taiwan

Thailand

Turkey

United Kingdom

Uruguay

United States

Venezuela

Vietnam


Information

Contact

022 567 5308

+852 2805-2563

+65 6100 6682 www.hp.com/support

0207 458 0161

0004-054-177

800-HP INVENT

0-800-474-68368

+65 6100 6682

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