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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 2 HP 20b Business Consultant 4 1 Basic Features 6 2 Mathematical Calculations 20 3 Statistical Operations 34 4 Time Value of Money 40 5 Cash Flows 50 6 Business Problems 62 7 Bonds 68 8 Depreciation 74 9 Break-even 81 10 Warranty, Regulatory, and Contact Information 3 84 HP 20b Business Consultant HP 20b Business Consultant 4 HP 20b Business Consultant Keyboard Map Legend No. Feature Chapter(s) No. Feature Chapter(s) 1 Time Value of Money keys 4 16 Annunciator display area 2 Cash Flows, IRR, and NPV menus 5 15 Amortization and Depreciation menus 4,8 3 Data and Statistics menus 3 14 % key and Percent Calculation menu 2,6 4 Input 1 13 Store and Recall 1 5 Memory 1 12 Break-even menu 9 6 Up/Insert and Down/Delete keys 1 11 Backspace key and Reset menu 1 7 Shift key 1 10 Math Menu 2 8 On/Off 1 9 Mathematical functions (rows) 2 5 1 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 Display Description FIX= 2 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 I, or press = until the number of digits you want is displayed. Degree or The current angular mode in degrees or radians. Radian Default is Degree. Pressing I toggles between these options. Date: The current format for dates entered into menus: mm dd yyyy mm dd yyyy or dd mm yyyy. December 3, 2010 is entered as 12.032010 in or mm dd yyyy format, or 3.122010 in dd mm yyyy format. Note dd mm yyyy the (.) in both formats separating the first and second groups. Default is mm dd yyyy format. Pressing I toggles between these options. 1.23 or 1,23 The current decimal separator as a decimal point or comma. Default is decimal point, 1.23 Pressing I toggles between these options. 9 Basic Features Table 1-1 Mode Menu Settings Setting Display Description Decimal or The current thousands separator. Decimal (1000.00 or Comma 1,000.00); Comma (1000,00 or 1.000,00). Default is decimal. Pressing I cycles through these options. Chain, The current operation mode. Algebraic, or Default is Chain. RPN Pressing I cycles through these options. English, The current language option. Français, Default is English. Deutsch, Pressing I cycles through these options. Español Actual or The current calendar options for bonds and date calculations. Cal.360 Default is Actual Pressing I toggles between these options. Annual or The current bond type. Semiannual Default is Annual. Pressing I toggles between these options. 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 Display Description :u 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. (Press five times) II Selects RPN as the active (Press two times) setting. Note the RPN annunciator to the right. > or < 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 Display Description O 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 (•) 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. Big (=) symbol 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 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. BEG Begin mode is activated. STO Stores a number in memory. RCL Recalls stored numbers. RAD Radians setting is active. RPN RPN mode is active. 360 The 360-day calendar option is active. INPUT 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 At the All Reset message, press O or I. 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 :x. Bond displays on screen. At this prompt, pressing 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 < returns you to the first item. Similarly, pressing > 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. 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. pressing = (outside of a mathematical operation) you will then By calculate the value for that item based on data entered elsewhere in the menu. 2. 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. 3. 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. 4. 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 Mathematical Calculations 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 12345.12123 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 Mathematical Calculations 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 Display Description 1+ (2*3) 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 Mathematical Calculations 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 Mathematical Calculations 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 Display Description Inputs the numbers and the 3I4+ operation in the first set of parentheses. Intermediate results are displayed. Note the (+) and (RPN) annunciators. 5I6+ Inputs the numbers and the operation in the second set of parentheses. Intermediate results are displayed. Note the (+) annunciator. 24 Mathematical Calculations 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 on the top line. 25 symbol appears Mathematical Calculations 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 Keys Description :w Keys in numbers with explicit powers of 10. :p Calculates sine. :q Calculates cosine. :r Calculates tangent. :k Natural log. :l e x. Calculates natural exponent to the power of x. :m X2. Returns square of x. :n Calculates square root. 26 Mathematical Calculations Table 2-3 Shifted Function Mathematical Operations Keys Description :f Executes the Random function. Returns a random number in the range 0 < x <1. :g Calculates factorial of x (where 0 ≤ x ≤ 253). :h y x. Returns y to the x power. :i Reciprocal. :e 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 Mathematical Calculations Figure 2-2 The Menu Map for the Math Menu 28 Mathematical Calculations 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 Display Description .5I Enters 0.5 and opens the Math :s menu starting with Trigonometry. I< Selects the Trigonometry menu item and scrolls to ASIN. Note the value for Sin -1 is calculated immediately and displayed. I or = 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: Yx 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 Mathematical Calculations 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 Mathematical Calculations 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:$2 to store 5 in memory 2. To add 12 to the value of memory 2, press 12:$+2. Later on, during a calculation, you can press L2 to recall memory 2. Note how the new current value is 17, (5 +12). +-* 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 Mathematical Calculations Note: the FIX= setting only affects the display; it does not affect the actual numbers. Simple Percentages In Algebraic or Chain modes, pressing % divides a number by 100. For example, pressing 25% returns 0.25. To find a percentage of a given number, enter the number and multiply it by the desired percentage, followed by = to return the result. For example, to find 25% of 200, press 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 Statistical Operations 3 Statistical Operations Figure 3-1 The Menu Map for the Data and Statistics Menus 34 Statistical Operations Statistics operations require the use of two secondary function keys: :y and :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 :x. At the prompt, Stats=, confirm your choice by pressing I. 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 Statistical Operations 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 Month Sales Values 1 150 2 165 3 160 4 175 5 170 Table 3-2 Statistics Example Keys Display Description :y Opens Data menu starting with the current value for X(1). 36 Statistical Operations Table 3-2 Statistics Example Keys Display Description 1I1 50I Inputs current values for X(1) and Y(1). Displays current value for X(2). 2I1 65I Inputs current values for X(2) and Y(2). Displays current value for X(3). 3I1 60I Inputs current values for X(3) and Y(3). Displays current value for X(4). 4I1 75I Inputs current values for X(4) and Y(4). Displays current value for X(5). 5I1 70I Inputs current values for X(5) and Y(5). Displays current value for X(6). :z Opens Stats menu. 37 Statistical Operations Table 3-2 Statistics Example Keys Display Description < Opens Descriptive submenu. I<< Displays current value for y average. :z<< I Opens Predictions sub-menu < Scrolls to current value of starting with Linear. Prediction X. 7I Inputs current value for Prediction X (month). <= Calculates predicted Y value (sales). < Displays current value for slope. < Displays current value for yintercept. 38 Statistical Operations Table 3-2 Statistics Example Keys Display Description < Displays current value for Correlation. :z<< <I< 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 Description Nom%= The stated annual interest rate compounded periodically, such as 18% compounded monthly. Eff%= The rate, that compounded only once, that is, annually, would produce the same final value as the nominal rate. P/YR= 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 :& Display Description Opens the Iconv menu, starting with the current value of the nominal percentage rate. 36. 5I Inputs 36.5 as the current nominal percentage rate. 41 Time Value of Money Table 4-2 Interest Rate Conversion Example Keys Display > Description Scrolls to payments per year, P/YR. Default value is 12. 365 I 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 Description N 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. Y Stores or calculates the nominal annual interest rate as a percentage. V 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. M 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 Description F 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:[ Display Description 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 Display Description 360 N Inputs 360 as the current value for the 6.5 Y Inputs 6.5 as the current value for the 1400 00V Inputs the present value of the loan at number of payments over 30 years. interest rate percentage per year. the time of the first payment. This value is positive (+); it is money you receive. 0F Inputs the future value of the loan (or remaining balance) as 0. M 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 45 A. 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 A menu, press :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 Description A Opens the Amortization (amrt) menu starting with Nb Per=. 46 Time Value of Money Table 4-5 Amortization Menu Items Menu Item/Key Description Nb Per= 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= Period on which to start amortization. Default is 1. If you want to amortize for the 2nd year, enter 13 (the second year starts at the 13th payment). Balance= The loan balance at the end of the assigned amortized period. Principle= Amount of the loan payment applied to the principle at the end of the amortized period. Interest= 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 A followed by > or < to view the amortization schedule. 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 Display Description 12: Inputs current value of payments per [ year as 12. 30: Inputs 360 (30 times 12 payments per ^ year) as the current value for the number of payments for the 30-year loan. 10Y Inputs 10 as the current interest rate percentage per year. 1400 00V 0F 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). M Returns the result for the monthly payment. 48 Time Value of Money Table 4-6 Amortization Example Keys A Display 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 2nd year). 49 Cash Flows 5 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 I; then enter the number of occurrences followed by I. If a cash flow occurs once, you do not need to type 1I; you can simply press I, as 1 is the default. 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. 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 At this prompt, press 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 Description C Opens the cash flow list. 51 Cash Flows Table 5-1 Cash Flow Keys Key Description I 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. o Inserts cash flows into a cash flow list. j Removes cash flows from a cash flow list. RP 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 Keys Display Description C Opens the cash flow list starting with the current value of the initial cash flow, CF(0). 8000 0} Keys in -80000 as the value of the initial cash flow. Note: the sign of the cash outflow is negative. I Inputs the current value of -80000 for CF(0). Displays the current value, 1, for the frequency of CF(0). I Inputs the current value of 1 for the frequency of CF(0). Displays the current value of CF(1). 5000 Keys in 5000 as the value of CF(1). 53 Cash Flows Table 5-2 Cash Flow Example Keys Display Description I Inputs the current value of CF(1) as 5000. Displays the current value,1, for the frequency of CF(1). I Inputs the current value of 1 for the frequency of CF(1). Displays current value of CF(2). 4500 Keys in 4500 as the current value of CF(2). I Inputs the current value of CF(2) as 4500. Displays the current value, 1, for the frequency of CF(2). I Inputs the current value of 1 for frequency of CF(2). Displays the current value of CF(3). 54 Cash Flows Table 5-2 Cash Flow Example Keys Display Description I Inputs the current value of CF(3) as 0. Displays the current value, 1, for the frequency of CF(3). I Inputs the current value of 1 for the frequency of CF(3). Displays the current value of CF(4). 4000 Keys in 4000 as the current value of CF(4). I Inputs the current value of CF(4) as 4000. Displays the current value, 1, for the frequency of CF(4). I Inputs the current value of 1 for the frequency of CF(4). Displays the current value of CF(5). 5000 Keys in 5000 as the current value of CF(5). 55 Cash Flows Table 5-2 Cash Flow Example Keys Display Description I Assigns the current value of CF(5) as 5000. Displays the current value, 1, for the frequency of CF(5). 5 Keys in 5 as the current value for the frequency of CF(5). I Inputs the current value of 5 for the frequency of CF(5). Displays the current value of CF(6). 11500 0 Keys in 115000 as the current I Inputs the current value of CF(6) value of CF(6). as 115000. Displays the current value, 1, for the frequency of CF(6). I Inputs the current value of 1 for frequency of CF(6). Ends list. 56 Cash Flows Analyzing Cash Flows The various functions used to analyze cash flows are located in the NPV P and IRR R menus. 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 Cash Flows Figure 5-2 The Menu Map for the NPV and IRR Menus 58 Cash Flows Table 5-3 NPV and IRR Menu Items Item Description Inv. I%= Investment or discount rate. Enter the investment rate or discount rate for the cash flow followed by I. Net PV= 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 FV= 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= Net uniform series. The per-period payment of a regular, periodic cash flow of equivalent present value to the cash flow list. Payback= 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 Description Total= The sum of all the cash flows, equivalent to NPV if Inv. I% is 0. RIRR%= 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 Display Description Opens NPV menu starting with current value of Inv. I%. 10. 5I Inputs 10.5 as current Inv. I%. < Scrolls to current value for NPV. 60 Cash Flows Table 5-4 NPV and IRR Example Keys Display < < < << Description Scrolls to current value for NFV. Scrolls to current value for Net US. Scrolls to current value for Payback. Scrolls to current value of cash flow total. R 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 Business Problems 6 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 62 > or < repeatedly to 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 I. Press > or < to select the menu item you need solved and press = 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 Display Description :# Opens the %calc menu starting with Mkup.%C. I Displays the current value of Cost=. 63 Business Problems Table 6-1 Markup Example Keys Display Description 15I Inputs 15 as the current value for cost. < Scrolls to Price= and displays the current value. 22I 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 Description :# Opens the %calc menu starting with Mkup.%C. <<< Scrolls to %Change. I Displays the current value for Old=. 20I Inputs 20 as the current value for Old=. < Displays the current value for New=. 35I Inputs 35 as the current value for New=. < Displays the current value for %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 Description :# Opens the %calc menu starting with Mkup.%C. << Scrolls to the Part %Tot. menu item. I Displays the current value for Total=. 80I Inputs 80 as the current value for Total=. < Scrolls to the current value of Part=. 30I Inputs 30 as the current value for 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. I. Press > or < repeatedly to scroll to an unknown item, and press = to To input current data, with an item displayed, key in a number and press 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 Description Settlement Date= Settlement date. Displays the current settlement date in either mm.ddyyyy or dd.mmyyyy format. Note: input only. Maturity Date= 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. CPN%= Coupon rate stored as an annual %. Note: Input only. 69 Bonds Table 7-1 Bond Menu Variable Description Call= 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%= Yield% to maturity or yield% to call date for given price. Note: Input/Output. Price= Price per $100.00 face value for a given yield. Note: Input/Output. Accrued= Interest accrued from the last coupon or payment date until the settlement date for a given yield. Note: Input/Output. Actual/Cal.360 Actual (365-day calendar) or Cal.360 (30-day month/360-day year calendar). Annual/Semiannual Bond coupon (payment) frequency. 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 Display Description B Opens the Bond menu starting with the current settlement date. > Scrolls to bond coupon (payment) frequency. I Selects semiannual coupon payment, as required by the example. < Inputs semiannual coupon payment and returns to the current settlement date. 4.28 2010 I Inputs the current settlement date in mm.ddyyyy format. Note: 3 in the display represents the day of the week. 71 Bonds Table 7-2 Bond Calculation Example Key Display Description < Displays the current maturity date in mm.ddyyy format. 6.04 2020 I Inputs the current maturity date. < Displays the current value for Note: 4 in the display represents the day of the week. CPN%=. 6.75 I Inputs 6.75 as current value for < Displays current call value. Default CPN%=. is 100. Note: if Call= requires another value, key in the number followed by I. < Displays the current value of Yield%=. 4.75 I Inputs 4.75 as the current value for Yield%=. 72 Bonds Table 7-2 Bond Calculation Example Key Display Description < Displays the current value for Price=. = Calculates the current value for Price=. :$1 Stores 115.89 in memory 1. < Displays the current value for accrued interest. :$2 Stores 2.69 in memory 2. OL1+ L2= 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. a number and press I. To enter current data, key in To reset the Depreciation menu, press :x. With Depreciation displayed, press 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 Description Life= The expected useful life of the asset in whole years. Start= 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. Cost= The depreciable cost of the asset at acquisition. Salvage= The salvage value of the asset at the end of its useful life. Year= Assigns the value of the year for which you want the depreciation. Depreciation= Depreciation calculation used for straight line, SOYD, and declining balance methods only. R.Book Value= Remaining book value. R.Depreciable Value= Remaining depreciable value. 77 Depreciation Table 8-2 Depreciation Menu Items Item Description Factor= 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 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. 5I Inputs 5 as the current value for the useful life. 78 Depreciation Table 8-3 Straight Line Depreciation Example Key Display Description < Displays the current value of Start=. 1 is the default value. < Displays the current value for Cost=. 1000 0I Inputs the current value for cost as < Displays the current value for 10,000.00. Salvage=. 500I 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 Table 8-3 Straight Line Depreciation Example 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 Description :! Opens the Break-even menu starting with the current value for fixed costs. 1500 00I Inputs the current value for fixed < Displays the current vale for Cost=. 250I Inputs the current value for cost as costs as 150,000.00. 250.00. < Displays the current value for Price=. 300I Inputs the current value for price as 300.00. < Displays the current value for Profit=. I Inputs the current value for profit as 0. 82 Break-even Table 9-1 Break-even Example Keys Display Description < Displays the current value for 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 Warranty, Regulatory, and Contact 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. 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A complete list is available on the web at: www.hp.com/support. 86 Warranty, Regulatory, and Contact Information 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. 87 Warranty, Regulatory, and Contact Information Declaration of Conformity for Products Marked with FCC Logo, United States Only This device complies with Part 15 of the FCC Rules. 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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 89 Warranty, Regulatory, and Contact Information 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. 90 Warranty, Regulatory, and Contact Information Table 10-1 Contact Information Country/Region Contact Africa (English) www.hp.com/support Africa (French) www.hp.com/support Argentina 0-800-555-5000 Australia 1300-551-664 Austria 01 360 277 1203 Belgium (French) 02 620 00 85 Belgium (English) 02 620 00 86 Bolivia 800-100-193 Brasil 0-800-709-7751 Canada 800-HP-INVENT Caribbean 1-800-711-2884 Chile 800-360-999 China 010-68002397 91 Warranty, Regulatory, and Contact Information Table 10-1 Contact Information Country/Region Contact Colombia 01-8000-51-4746-8368 Costa Rica 0-800-011-0524 Czech Republic 296 335 612 Denmark 82 33 28 44 Ecuador 800-711-2884 El Salvador 800-6160 Finland 09 8171 0281 France 01 4993 9006 Germany 069 9530 7103 Greece 210 969 6421 Guatemala 1-800-999-5105 Honduras 800-711-2884 Hong Kong 852 2833-1111 Hungary www.hp.com/support 92 Warranty, Regulatory, and Contact Information Table 10-1 Contact Information Country/Region Contact India www.hp.com/support/india Indonesia +65 6100 6682 Ireland 01 605 0356 Italy 02 754 19 782 Japan 81-3-6666-9925 Korea www.hp.com/support/korea Malaysia +65 6100 6682 Mexico 01-800-474-68368 Middle East International www.hp.com/support Netherlands 020 654 5301 New Zealand 0800-551-664 Nicaragua 1-800-711-2884 Norway 23500027 Panama 001-800-711-2884 93 Warranty, Regulatory, and Contact Information Table 10-1 Contact Information Country/Region Contact Paraguay (009) 800-541-0006 Peru 0-800-10111 Philippines +65 6100 6682 Poland www.hp.com/support Portugal 021 318 0093 Puerto Rico 1-877 232 0589 Russia 495 228 3050 Singapore 6100 6682 South Africa 0800980410 South Korea 2-561-2700 Spain 913753382 Sweden 08 5199 2065 Switzerland (French) 022 827 8780 Switzerland (German) 01 439 5358 94 Warranty, Regulatory, and Contact Information Table 10-1 Contact Information Country/Region Contact Switzerland (Italian) 022 567 5308 Taiwan +852 2805-2563 Thailand +65 6100 6682 Turkey www.hp.com/support United Kingdom 0207 458 0161 Uruguay 0004-054-177 United States 800-HP INVENT Venezuela 0-800-474-68368 Vietnam +65 6100 6682 95

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