How To Change Payments Per Year On Hp 10bii+
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HP 10bii Calculator - Interest Rate Conversions
Calculator symbol key
The procedures in this certificate employ the following text to represent symbol keys:
| Key | Description | Text Representation |
| | colored key; shift fundamental | SHIFT |
Interest rate conversion basics
The Interest Rate conversion application uses three keys:
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SHIFT, NOM%
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SHIFT, EFF%
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SHIFT, P/Yr
They convert between nominal and annual effective involvement rates.
If the annual nominal interest rate is known, the corresponding almanac effective rate can be solved:
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Enter the nominal charge per unit and press SHIFT, so NOM%.
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Enter the number of compounding periods and press SHIFT, and so P/Year.
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Calculate the effective rate by pressing SHIFT, then EFF%.
To calculate a nominal rate from a known constructive charge per unit:
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Enter the effective rate and printing SHIFT, then EFF%.
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Enter the number of compounding periods and press SHIFT, then P/YR.
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Calculate the nominal charge per unit by pressing SHIFT, and so NOM %.
In the TVM application, SHIFT, NOM%, and I/Twelvemonth share the same annals.
Interest conversions are primarily used for two types of problems:
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Comparing investments with different compounding periods.
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Solving TVM problems where the payment menstruum and the interest period differ.
Example of comparing investments
Which of the following three banks has the most favorable interest rate?
Offset Bank: 6.70 per centum annual interest, compounded quarterly.
Second banking company: 6.65 pct annual interest, compounded monthly.
Third bank: half-dozen.63 per centum annual involvement, compounded 360 times per year.
Showtime banking concern
| Keys | Display | Description |
| Printing 6, [.], 7, SHIFT, and so NOM% | 6.lxx | Stores nominal rate |
| Printing 4, SHIFT, then P/YR | 4.00 | Stores quarterly compounding periods |
| Press SHIFT, then EFF% | six.87 | Calculates annual effective charge per unit |
2nd bank
| Keys | Brandish | Description |
| Printing half-dozen, [.], 65, SHIFT, then NOM% | half dozen.65 | Stores nominal charge per unit |
| Printing 12, SHIFT, then P/Yr | 12.00 | Stores monthly compounding periods |
| Press SHIFT, then EFF% | 6.86 | Calculates annual effective charge per unit |
Tertiary bank
| Keys | Brandish | Description |
| Printing 6, [.], 63, SHIFT,then NOM% | half dozen.63 | Stores nominal rate |
| Press 360, SHIFT, and so P/YR | 360.00 | Stores compounding periods |
| Printing SHIFT, then EFF% | 6.85 | Calculates almanac effective rate |
The start bank offers a slightly better rate since 6.87 is greater than 6.86 and 6.85.
Compounding and payment periods differ
The TVM application assumes that the compounding periods, and the payment periods are the aforementioned. Some loan installments or savings deposits and withdrawals do not coincide with the bank's compounding periods. If the payment period differs from the compounding period, conform the interest rate to match the payment period before solving the problem.
To adjust an interest rate when the compounding period differs from the payment period, complete the following steps:
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Enter the nominal rate and printing SHIFT, and then NOM%. Enter the number of compounding periods in a year and press SHIFT, then P/Twelvemonth. Solve for the effective rate by pressing SHIFT, and so EFF%.
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Enter the number of payment periods in a year and press SHIFT+P/YR. Solve for the adjusted nominal charge per unit by pressing SHIFT, and so NOM%.
Example of calculating monthly payments and daily compounding
Starting today, monthly deposits of $25 are made to an account paying 5 pct interest, compounding daily (using a 365 solar day yr). What will the balance exist in seven years?
Step one
Calculate the equivalent charge per unit with monthly compounding.
| Keys | Brandish | Description |
| Press 5, SHIFT,then NOM% | five.00 | Stores nominal per centum rate |
| Printing 365, SHIFT,then P/YR | 365.00 | Stores depository financial institution's compounding periods per year |
| Press SHIFT, and so EFF% | five.13 | Calculates annual effective rate |
| Printing 12, SHIFT,then P/Twelvemonth | 12.00 | Stores monthly periods |
| Press SHIFT, then NOM% | 5.01 | Calculates equivalent nominal per centum rate for monthly compounding |
Since NOM% and I/YR share the same annals, this value is ready for employ in the rest of the trouble.
Stride 2
Summate the hereafter value.
Prepare to BEGIN mode. Press SHIFT, then BEG/END if annunciator is not displayed.
| Keys | Display | Description |
| Press 0, then PV | 0.00 | Stores present value |
| Press 25, [+/-], then PMT | -25.00 | Stores payment |
| Press 7, then SHIFT, then xP/Year | 84.00 | Stores total number of payments |
| Press FV | ii,519.61 | Calculates balance after 7 years |
Source: https://support.hp.com/ie-en/document/bpia5077
Posted by: chavezhond1975.blogspot.com
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