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HP 10BII Manual

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$Page 46 46 4: Picturing Financial Problems $Q\FDVKIORZH[DPSOHFDQEHUHSUHVHQWHGE\DFDVKIORZGLDJUDP$V \RXGUDZDFDVKIORZGLDJUDPLGHQWLI\ZKDWLVNQRZQDQGXQNQRZQ DERXWWKHWUDQVDFWLRQ 7LPHLVUHSUHVHQWHGE\DKRUL]RQWDOOLQHGLYLGHGLQWRUHJXODUWLPHSHULRGV &DVKIORZVDUHSODFHGRQWKHKRUL]RQWDOOLQHZKHQWKH\RFFXU:KHUHQR DUURZVDUHGUDZQQRFDVKIORZVRFFXU Signs of Cash Flows ,QFDVKIORZGLDJUDPVPRQH\LQYHVWHGLVVKRZQDVQHJDWLYHDQGPRQH\...$

$Page 47 4: Picturing Financial Problems 47 Periods and Cash Flows ,QDGGLWLRQWRWKHVLJQFRQYHQWLRQ FDVKIORZLQJRXWLVQHJDWLYHFDVK IORZLQJLQLVSRVLWLYH\fRQFDVKIORZGLDJUDPVWKHUHDUHVHYHUDOPRUH FRQVLGHUDWLRQV n7KHWLPHOLQHLVGLYLGHGLQWRHTXDOWLPHLQWHUYDOV7KHPRVWFRPPRQ SHULRGLVDPRQWKEXWGD\VTXDUWHUVDQGDQQXDOSHULRGVDUHDOVR FRPPRQ7KHSHULRGLVQRUPDOO\GHILQHGLQDFRQWUDFWDQGPXVWEH NQRZQEHIRUH\RXFDQEHJLQFDOFXODWLQJ...$

$Page 48 48 4: Picturing Financial Problems Compound Interest $FRPSRXQGLQWHUHVWFRQWUDFWLVOLNHDVHULHVRIVLPSOHLQWHUHVWFRQWUDFWV WKDWDUHFRQQHFWHG7KHOHQJWKRIHDFKVLPSOHLQWHUHVWFRQWUDFWLVHTXDOWR RQHFRPSRXQGLQJSHULRG$WWKHHQGRIHDFKSHULRGWKHLQWHUHVWHDUQHG RQHDFKVLPSOHLQWHUHVWFRQWUDFWLVDGGHGWRWKHSULQFLSDO)RUH[DPSOHLI \RXGHSRVLWLQDVDYLQJVDFFRXQWWKDWSD\V\bDQQXDOLQWHUHVW FRPSRXQGHGPRQWKO\\RXUHDUQLQJVIRUWKHILUVWPRQWKORRNOLNHD...$

$Page 49 4: Picturing Financial Problems 49 Interest Rates :KHQ\RXDSSURDFKDILQDQFLDOSUREOHPLWLVLPSRUWDQWWRUHFRJQL]HWKDW WKHLQWHUHVWUDWHRUUDWHRIUHWXUQFDQEHGHVFULEHGLQDWOHDVWWKUHH GLIIHUHQWZD\V n$VDSHULRGLFUDWH7KLVLVWKHUDWHWKDWLVDSSOLHGWR\RXUPRQH\IURP SHULRGWRSHULRG n$VDQDQQXDOQRPLQDOUDWH7KLVLVWKHSHULRGLFUDWHPXOWLSOLHGE\WKH QXPEHURISHULRGVLQD\HDU n$VDQDQQXDOHIIHFWLYHUDWH7KLVLVDQDQQXDOUDWHWKDWFRQVLGHUV FRPSRXQGLQJ...$

$Page 51 4: Picturing Financial Problems 51 Recognizing a Cash Flow Problem $ILQDQFLDOSUREOHPWKDWGRHVQRWKDYHUHJXODUXQLIRUPSD\PHQWV VRPHWLPHVFDOOHGXQHYHQFDVKIORZV\fLVDFDVKIORZSUREOHPUDWKHUWKDQD 790SUREOHP $FDVKIORZGLDJUDPIRUDQLQYHVWPHQWLQDPXWXDOIXQGIROORZV7KLVLV DQH[DPSOHRIDSUREOHPWKDWLVVROYHGXVLQJHLWKHU *N 1HW3UHVHQW 9DOXH\fRU *9 ,QWHUQDO5DWHRI5HWXUQSHU$

$Page 53 5: Time Value of Money Calculations 53 5 Time Value of Money Calculations Using the TVM Application 7KHWLPHYDOXHRIPRQH\ 790\fDSSOLFDWLRQLVXVHGIRU FRPSRXQGLQWHUHVWFDOFXODWLRQVWKDWLQYROYHUHJXODU XQLIRUPFDVKIORZV²FDOOHGSD\PHQWV2QFHWKHYDOXHVDUH HQWHUHG\RXFDQYDU\RQHYDOXHDWDWLPHZLWKRXWHQWHULQJ DOOWKHYDOXHVDJDLQ 7RXVH790VHYHUDOSUHUHTXLVLWHVPXVWEHPHW n7KHDPRXQWRIHDFKSD\PHQWPXVWEHWKHVDPH,IWKHSD\PHQW...$

$Page 54 54 5: Time Value of Money Calculations 7RYHULI\YDOXHVSUHVVP.2DQG/ 3UHVVLQJ *UUHFDOOVWKHWRWDOQXPEHURISD\PHQWVLQ\HDUVDQG *bVKRZV\RXWKHQXPEHURISD\PHQWVSHU\HDU5HFDOOLQJWKHVH QXPEHUVGRHVQRWFKDQJHWKHFRQWHQWRIWKHUHJLVWHUV Clearing TVM 3UHVV*&WRFOHDUWKH790UHJLVWHUV7KLVVHWV 1,$

$Page 55 5: Time Value of Money Calculations 55 Begin and End Modes %HIRUH\RXVWDUWD790FDOFXODWLRQLGHQWLI\ZKHWKHUWKH ILUVWSHULRGLFSD\PHQWRFFXUVDWWKHEHJLQQLQJRUHQGRI WKHILUVWSHULRG,IWKHILUVWSD\PHQWRFFXUVDWWKHHQGRI WKHILUVWSHULRGVHW\RXU+3%,,WR(QGPRGHLILW RFFXUVDWWKHEHJLQQLQJRIWKHILUVWSHULRGVHW\RXU FDOFXODWRUWR%HJLQPRGH 7RVZLWFKEHWZHHQPRGHVSUHVV *O7KHBEGINDQQXQFLDWRULV GLVSOD\HGZKHQ\RXUFDOFXODWRULVLQ%HJLQPRGH1RDQQXQFLDWRULV...$

$Page 56 56 5: Time Value of Money Calculations Part 2. $WDSULFHRIZKDWLQWHUHVWUDWHLVQHFHVVDU\WRORZHU\RXU SD\PHQWE\WR Part 3. ,ILQWHUHVWLV\bZKDWLVWKHPD[LPXP\RXFDQVSHQGRQWKH FDUWRORZHU\RXUFDUSD\PHQWWR Keys: Display: Description: *b12.006HWVSHULRGVSHU\HDU P36.006WRUHVQXPEHURI SHULRGVLQORDQ .10.506WRUHVDQQXDOQRPLQDO LQWHUHVWUDWH 13,000.006WRUHVDPRXQW ERUURZHG /0.006WRUHVWKHDPRXQWOHIW...$

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							4: Picturing Financial Problems 51
Recognizing a Cash Flow Problem
$ILQDQFLDOSUREOHPWKDWGRHVQRWKDYHUHJXODUXQLIRUPSD\PHQWV
VRPHWLPHVFDOOHGXQHYHQFDVKIORZV\fLVDFDVKIORZSUREOHPUDWKHUWKDQD
790SUREOHP
$FDVKIORZGLDJUDPIRUDQLQYHVWPHQWLQDPXWXDOIXQGIROORZV7KLVLV
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*N1HW3UHVHQW
9DOXH\fRU
*9,QWHUQDO5DWHRI5HWXUQSHU

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							ook  Page 52  Wednesday, June 21, 2000  5:19 PM

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							5: Time Value of Money Calculations 53
5
Time Value of Money Calculations
Using the TVM Application
7KHWLPHYDOXHRIPRQH\790\fDSSOLFDWLRQLVXVHGIRU
FRPSRXQGLQWHUHVWFDOFXODWLRQVWKDWLQYROYHUHJXODU
XQLIRUPFDVKIORZV²FDOOHGSD\PHQWV2QFHWKHYDOXHVDUH
HQWHUHG\RXFDQYDU\RQHYDOXHDWDWLPHZLWKRXWHQWHULQJ
DOOWKHYDOXHVDJDLQ
7RXVH790VHYHUDOSUHUHTXLVLWHVPXVWEHPHW
n7KHDPRXQWRIHDFKSD\PHQWPXVWEHWKHVDPH,IWKHSD\PHQW
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)ORZ&DOFXODWLRQVµ
n3D\PHQWVPXVWRFFXUDWUHJXODULQWHUYDOV
n7KHSD\PHQWSHULRGPXVWFRLQFLGHZLWKWKHLQWHUHVWFRPSRXQGLQJ
SHULRG,ILWGRHVQRWFRQYHUWWKHLQWHUHVWUDWHXVLQJWKH
*\b
*ZDQG*bNH\VGHVFULEHGRQSDJH \f
n7KHUHPXVWEHDWOHDVWRQHSRVLWLYHDQGRQHQHJDWLYHFDVKIORZ
10B.book  Page 53  Wednesday, June 21, 2000  5:19 PM

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							54 5: Time Value of Money Calculations
7RYHULI\YDOXHVSUHVVP.2DQG/
3UHVVLQJ
*UUHFDOOVWKHWRWDOQXPEHURISD\PHQWVLQ\HDUVDQG
*bVKRZV\RXWKHQXPEHURISD\PHQWVSHU\HDU5HFDOOLQJWKHVH
QXPEHUVGRHVQRWFKDQJHWKHFRQWHQWRIWKHUHJLVWHUV
Clearing TVM
3UHVV*&WRFOHDUWKH790UHJLVWHUV7KLVVHWV 1,

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							5: Time Value of Money Calculations 55
Begin and End Modes
%HIRUH\RXVWDUWD790FDOFXODWLRQLGHQWLI\ZKHWKHUWKH
ILUVWSHULRGLFSD\PHQWRFFXUVDWWKHEHJLQQLQJRUHQGRI
WKHILUVWSHULRG,IWKHILUVWSD\PHQWRFFXUVDWWKHHQGRI
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RFFXUVDWWKHEHJLQQLQJRIWKHILUVWSHULRGVHW\RXU
FDOFXODWRUWR%HJLQPRGH
7RVZLWFKEHWZHHQPRGHVSUHVV
*O7KHBEGINDQQXQFLDWRULV
GLVSOD\HGZKHQ\RXUFDOFXODWRULVLQ%HJLQPRGH1RDQQXQFLDWRULV
GLVSOD\HGZKHQ\RXDUHLQ(QGPRGH
0RUWJDJHVDQGORDQVW\SLFDOO\XVH(QGPRGH/HDVHVDQGVDYLQJVSODQV
W\SLFDOO\XVH%HJLQPRGH
Loan Calculations
Example: A Car Loan.

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							56 5: Time Value of Money Calculations
Part 2. $WDSULFHRIZKDWLQWHUHVWUDWHLVQHFHVVDU\WRORZHU\RXU
SD\PHQWE\WR
Part 3. ,ILQWHUHVWLV\bZKDWLVWKHPD[LPXP\RXFDQVSHQGRQWKH
FDUWRORZHU\RXUFDUSD\PHQWWR
Keys: Display: Description:
*b12.006HWVSHULRGVSHU\HDU
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SHULRGVLQORDQ
.10.506WRUHVDQQXDOQRPLQDO
LQWHUHVWUDWH

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ERUURZHG
/0.006WRUHVWKHDPRXQWOHIW
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SDLGRXW

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11,537.59&DOFXODWHVDPRXQWRI
PRQH\WRILQDQFH

13,037.59$GGVWKHGRZQSD\
PHQWWRWKHDPRXQW
ILQDQFHGIRUWRWDOSULFH
RIWKHFDU
10B.book  Page 56  Wednesday, June 21, 2000  5:19 PM

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							5: Time Value of Money Calculations 57
Example: A Home Mortgage.

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							58 5: Time Value of Money Calculations
Example: A Mortgage With a Balloon Payment.

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							5: Time Value of Money Calculations 59
Step 2. 6LQFHWKHSD\PHQWLVDWWKHHQGRIWKHPRQWKWKHSDVWSD\PHQW
DQGWKHEDOORRQSD\PHQWRFFXUDWWKHVDPHWLPH7KHILQDOSD\PHQWLVWKH
VXPRI 307DQG)9
7KHYDOXHLQ 307VKRXOGDOZD\VEHURXQGHGWRWZR
GHFLPDOSODFHVZKHQFDOFXODWLQJ )9RU39WRDYRLGVPDOO
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QXPEHUVDQGDFWXDOGROODUVDQGFHQWV\fSD\PHQWV,IWKH
GLVSOD\LVQRWVHWWRWZRGHFLPDOSODFHVSUHVV
*
Keys: Display: Description:
*L2–1,424.065RXQGVSD\PHQWWR
WZRGHFLPDOSODFHV
WKHQVWRUHV
P48.006WRUHV\HDUWHUP
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/–163,388.39&DOFXODWHVORDQEDO
DQFHDIWHU\HDUV

2–164,812.45&DOFXODWHVWRWDOWK
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)9 \fWRSD\RIIORDQ
PRQH\SDLGRXWLV
QHJDWLYH\f
1234 I/YR = 8.8%
N=4
×12
P/YR=12
PMT = -1,424.06
PV = 172,500.00
FV=?
End Mode 44 45 46 47
48...

book  Page 59  Wednesday, June 21, 2000  5:19 PM

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							60 5: Time Value of Money Calculations
Savings Calculations
Example: A Savings Account. ,I\RXGHSRVLWLQDVDYLQJV
DFFRXQWWKDWSD\V\bDQQXDOLQWHUHVWFRPSRXQGHGDQQXDOO\DQGPDNH
QRRWKHUGHSRVLWVWRWKHDFFRXQWKRZORQJZLOOLWWDNHIRUWKHDFFRXQWWR
JURZWR
6LQFHWKLVDFFRXQWKDVQRUHJXODUSD\PHQWV 307 \fWKHSD\PHQW
PRGH(QGRU%HJLQ\fLVLUUHOHYDQW
Keys: Display: Description:
*&0.00&OHDUVDOOUHJLVWHUV
*b1.006HWV 3

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