PV = 100 $ You get: 100.5 $, lets arise N to 5: You get: 102.53 $ (Oh, maybe 3 Cent more then expected, but evereything is alright).Īnd what happen with N = 12 (all other variables are the same)?: What happen if you use P/Year = 12 and N = 1: First your calc divide the I/year with 12 and calculate the amount of cash after one month.Įxample: P/Year = 12, N = 1: I/year = 6 % : the calculated Interest Rate is 0.5 % (for one month). The I/year is based on one year, if you use P/Year = 1 the your amount your Interest Rate of I/year match to the year. Press and hold the first key from the left ( N) and the first key from the right ( FV) on the top row.
To completely reset the calculator and erase all user memory, follow the procedure below. N get the meaning from P/Year: P/Year = 12 then N = 5 means five month or Resetting the calculator using the keyboard. Last for first: P/Year = 1 You are calculating the interest rate in a year one time, =12 every month, = 365 every day P/Year = How often in a year the Interest Rate calculated (and added/subtracted to the loan). Your second post seems to me, that you probably don't understand the game of the three variables: This should give you the correct result.Ĭyrille gave you the right advise. What you need to do is change the number of payements per year to 1 (and you might also need to change the number of compounding per year to 1, but I am not sure, and I do not have a 10BII+ in front of me to test). HP 10bii+ Business Calculator 1429 Review this product R799.00 7990 7990 Whether you are a student or a practicing professional, the fast and powerful HP 10bll+ makes it easy to solve business, financial, statistical, and math calculations accurately and quickly, at a price that everyone can afford. Simlply changing N in 24 will not help because you would be doing calculations based on a nominal interest rate (10%), which correspond to an effective interest rate of 10.47%! So you need to be carefull of this issue. Ie: I/YR and N work on different units of time. The problem is that the calculator (like all other financial calculators) is setup to do calculations based on a Nominal and Anual interest rate (based on 12 compounding per year), and 12 payements per year (which N is). The exercise that you are trying to solve (I think, based on the expected result) is for the Future value of an investmenet of 100, at 10% annual, effective interest rate, for a period of 2 years (which is 121). Your calculator is correct, the Future value of an investmenet of 100, at 10% annual, nominal interest rate, for a period of 2 month is 101.67. Business PCs, Workstations and Point of Sale Systems.Printer Wireless, Networking & Internet.DesignJet, Large Format Printers & Digital Press.
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