HP 12c Owners Manual

							 
201 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 201 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
  Appendix F 
United Kingdom Calculations 
The calculations for most financial problems in the United Kingdom are identical to 
the calculations for those problems in the United States — which are described 
earlier in this handbook. Certain problems, however, require different calculation 
methods in the United Kingdom than in the United States, even though the 
terminology describing the problems may be similar. Therefore, it is recommended 
that you ascertain the usual practice in the United Kingdom for the financial 
problem you are solving. 
The remainder of this appendix describes three types of financial calculations for 
which the conventional practice differs significantly between the United Kingdom 
and the United States. 
Mortgages 
The amount of the repayments on home loans and mortgages offered by banks in 
the United Kingdom can usually be calculated as described under Calculating the 
Payment Amount, page 46. Building Societies in the United Kingdom, however, 
calculate the amount of these repayments differently. In general, the repayment 
amount of a Building Society mortgage is calculated as follows: first, the annual 
repayment amount is calculated using the annual interest rate; second, the periodic 
repayment amount is calculated by dividing the annual repayment amount by the 
number of repayment periods in one year. 
Furthermore, the calculations used by Building Societies are rounded; therefore, to 
match their scale repayment figures you would have to round your calculations 
accordingly.  
						

							202  Appendix F: United Kingdom Calculations 
 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 202 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Annual Percentage Rate (APR) Calculations 
In the United Kingdom, the calculation of the Annual Percentage Rate of Charge 
(APR) in accordance with the United Kingdom Consumer Credit Act (1974) differs 
from the calculation of the APR in the United States. Unlike the practice in the 
United States, where the APR can be calculated by multiplying the periodic interest 
rate by the number of periods per year, in the United Kingdom the APR is 
calculated by converting the periodic interest rate to the “effective annual rate,” 
then truncating the result to one decimal place. With the periodic interest rate in 
the display and in the i
 register, the effective annual rate can be calculated by 
keying in the number of compounding periods per year, pressing w
, then 
proceeding with step 4 of the procedure given on page 160 for converting a 
nominal rate to an effective rate. 
Bond Calculations 
Solutions for the price and yield to maturity of United Kingdom bonds are not 
included in this handbook. Actual practice differs according to the type of bond; 
variations such as cumulative and ex-dividend pricing, simple or compound interest 
discounting, etc., may be encountered. 
Application Notes covering such situations may be available in the United 
Kingdom; check with your local authorized Hewlett-Packard dealer. 
 
  
						

							 
203 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 203 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Function Key Index 
General 
; Power on /off key 
(page 16).  
f Shift key. Selects 
alternate function in gold 
above the function keys 
(page 16). Also used in 
display formatting 
(page 71). 
g Shift key. Selects 
alternate function in blue 
on the slanted face of the 
function keys (page 16).
CLEARX after f, g, 
?, : or i, 
cancels that key 
(page 18). 
fCLEARX also 
displays mantissa of 
number in the displayed 
X-register (page 73). 
Digit Entry 
\ Enters a copy of 
number in displayed 
X-register into Y-register. 
Used to separate numbers 
(pages 19 and 171).
Þ Changes sign of 
number or exponent of 
10 in X-register 
(page 17). 
É Enter exponent. After 
pressing, next numbers 
keyed in are exponents of 
10 (page 18). 0 —9 digits. Used 
for keying in numbers 
(page 19) and display 
formatting (page 71). 
. Decimal point 
(page 17). Also used 
for display formatting 
(page 71). 
O Clears contents of 
displayed X-register to 
zero (page 18). 
Arithmetic 
+-§z} Arithm
etic operators 
(page 19). 
Storage Registers 
? Store. Followed 
by number key, 
decimal point and 
number key, or top row 
financial key, stores 
displayed number in 
storage register 
specified (page 23). 
Also used to perform 
storage register 
arithmetic (page 24). 
: Recall. Followed 
by number key, 
decimal point and 
number key, or top-row 
financial key, recalls 
value from storage 
register specified into 
the displayed X-register 
(page 23). CLEAR H Clears 
contents of stack (X,Y,Z 
and T), all storage 
registers, statistical 
registers, and financial 
registers (page 24). 
Leaves program memory 
untouched; not 
programmable. 
Percentage 
b Computes x% of y 
and retains the y-value in 
the Y-register (page 26). 
à Computes percent of 
change between number 
in Y-register and number 
in displayed X-register 
(page 27). 
Z Computes percent 
that x is of number in 
Y-register (page 28). 
Calendar 
Ô Sets date format to 
day-month-year 
(page 30); not 
programmable. 
Õ Sets date format to 
month-day-year 
(page 29); not 
programmable. 
D Changes a date in 
the Y-register by the 
number of days in the 
X-register and displays 
day of week (page 30). 
Ò Computes the 
number of days between 
two dates in the Y and 
X-registers (page 31).  
						

							204  Function Key Index 
 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 204 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Financial 
CLEAR G Clears 
contents of financial 
registers (page 33). 
× Sets payment 
mode to Begin for 
compound interest 
calculations involving 
payments (page 37). 
 Sets payment 
mode to End for 
compound interest 
calculations involving 
payments (page 37). 
Ï Calculates simple 
interest (page 33). 
w Stores or computes 
number of periods in 
financial problem 
(page 32). 
A Multiplies a 
number in displayed 
X-register by 12 and 
stores the resulting 
value in the n-register 
(page 39). 
¼ Stores or computes 
interest rate per 
compounding period 
(page 32). 
C Divides number in 
displayed X-register by 
12 and stores the 
resulting value in the 
I-register (page 39). 
$ Stores or computes 
the present value (that 
is, the initial cash flow) 
of a financial problem 
(page 32). 
P Stores or 
computes payment 
amount (page 32). M Stores or computes 
future value (final cash 
flow) of a financial 
problem (page 32). 
! Amortizes x 
number of periods 
using values stored in 
PMT, i, PV, and the 
display. Updates 
values in PV and n 
(page 54). 
l Calculates the net 
present value of up to 
20 uneven cash flows 
and initial investment 
using values stored 
with J, K, and 
a (page 58). 
L Calculates the 
internal rate of return 
(yield) for up to 20 
uneven cash flows and 
initial investment using 
values stored with J, 
K, and a
 
(page 63).  
J Initial cash flow. 
Stores contents of 
displayed X-register in 
R
0, initializes n to zero, 
sets N
0 to 1. Used at 
the beginning of a 
discounted cash flow 
problem (page 58). 
K Cash flow j. 
Stores the contents of 
X-register in R
j , 
increments n by 1, and 
sets N
j to 1. Used for 
all cash flows except 
the initial cash flow in 
a discounted cash flow 
problem (page 58). V Calculates 
depreciation using 
straight-line method. 
(page 68). 
E Calculates bond 
price, given desired 
yield to maturity 
(page 67). 
S Calculates yield to 
maturity, given bond 
price (page 67). 
a Stores the number 
(from 1 to 99) of times 
each cash flow occurs 
as N
j. Assumes 1 
unless otherwise 
specified (page 61). 
Ý Calculates 
depreciation using 
sum-of-the-years-digits 
method (page 68). 
# Calculates 
depreciation using 
declining-balance 
method (page 68). 
Statistics  
CLEAR² Clears 
statistical storage 
registers R
1 through R6 
and stack registers 
(page 76). 
_ Accumulates 
statistics using numbers 
from X- and Y-registers 
in storage registers R
1 
through R
6 (page 76). 
^ Cancels effect of 
numbers from X- and 
Y-registers in storage 
registers R
1 through R6 
(page 77).  
						

							 Function Key Index  205 
 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 205 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Ö Computes mean 
(average) of x-values and 
y-values using 
accumulated statistics 
(page 77). 
 Computes weighted 
average of y-(item) and 
x-(weight) values using 
accumulated statistics 
(page 81). 
v Computes sample 
standard deviations of x- 
and y-values using 
accumulated statistics 
(page 79). 
R Linear estimate 
(X-register), correlation 
coefficient (Y-register). 
Fits a line to a set of (x,y) 
data pairs entered using 
_, then extrapolates this 
line to estimate a y-value 
for a given x-value. Also 
computes strength of 
linear relationship (r) 
among that set of (x, y) 
data pairs (page 80). 
Q Linear estimate 
(X-register), correlation 
coefficient (Y-register). 
Fits a line to a set of (x, 
y) data pairs entered 
using _, then 
extra-polates this line to 
estimate an x-value for a 
given y-value. Also 
computes strength of 
linear relationship (r) 
among that set of (x,y) 
data pairs (page 80). Mathematics 
r Computes square root 
of number in displayed 
X-register (page 83). 
q Raises number in 
Y-register to power of 
number in X-register 
(page 85). 
y Computes reciprocal 
of number in displayed 
X-register (page 83). 
e Computes factorial 
[n(n–1)... 321] of 
number in displayed 
X-register (page 83). 
> Natural antilogarithm. 
Raises e (approximately 
2.718281828) to power 
of number in displayed 
X-register (page 83). 
¿ Computes natural 
logarithm (base e) of 
number in displayed 
X-register (page 83). 
 Number Alteration 
B Rounds mantissa of 
10digit number in 
X-register to match the 
display (page 83). 
Ñ Leaves only the 
integer portion of 
number in displayed 
X-register by truncating 
fractional portion 
(page 83). 
T Leaves only the 
fractional portion of 
number in displayed 
X-register by truncating 
integer portion 
(page 84). 
Stack Rearrangement 
~ Exchanges contents 
of X and Y-registers of 
stack (pages 74 and 
172). 
d RolIs down contents 
of stack for viewing in 
displayed X-register 
(page 172). 
F Recalls number 
displayed before the 
previous operation back 
into the displayed 
X-register (pages 74 
and 176).  
						

							 
206 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 206 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Programming Key Index 
s
 Program/Run. Toggles into and out of Program mode. Automatically sets 
program to line 00 when returning to Run mode (page 86)
. 
N
 Memory map. Describes the current allocation of memory; the number of lines 
allotted to program memory and the number of available data registers (page 
93)
. 
 
Program Mode  Run Mode 
In Program mode, function 
keys are recorded in 
program memory. Display 
shows program memory 
line number and the 
keycode (keyboard row 
and location in row) of the 
function key. In Run mode, function keys may be executed 
as part of a recorded program or 
individually by pressing from the keyboard. 
Active Keys: 
In Program mode only the 
following keys are active; 
they cannot be recorded in 
program memory. 
CLEARÎ 
Clear program. Clears 
program memory to all 
i00 instructions and 
resets calculator so 
operations begin at line 00 
of program memory. Resets 
N to P08 r20 
(page 95) Pressed from 
keyboard: 
CLEARÎ 
Resets calculator (in 
Run mode) so 
operations begin at 
line 00 of program 
memory. Does not 
erase program 
memory. Executed as a 
recorded program 
instruction 
 
  
						

							 Programming Key Index  207 
 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 207 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Program Mode  Run Mode 
Active Keys: 
 
 
 
 
i Go to. Followed by a 
decimal point and a 
two-di
git number, positions 
calculator to that line in 
program memory. No 
instructions are executed 
(page 95) 
 
Ç Single step. Displays 
line number and contents 
of next program memory 
line. If held down, 
displays line number and 
contents of all program 
memory lines, one at a 
time (page 92). 
Ü Back step. Displays 
line number and contents 
of previous program 
memory line. When back 
stepped from line 00, 
goes to end of program 
memory as defined by 
gN. If held down, 
displays line number and 
contents of all program 
memory lines, one at a 
time (page 95). Pressed from 
keyboard: 
t Run/Stop. Begins 
execution of a stored 
program. Stops 
execution if program is 
running (page 89). 
iGo to. Followed by 
a two-digit number, 
positions calculator to 
that line in program 
memory. No instructions 
are executed 
(page 103). 
 
Ç Single step. 
Displays line number 
and keycode of current 
program memory line 
when pressed; executes 
instruction, displays 
result, and moves to 
next line when released 
(page 96). 
ÜBack step. Displays 
line number and 
keycode of previous 
program memory line 
when pressed; displays 
original contents of 
X-register when 
released. No 
instructions are 
executed (page 97). 
Any key. Pressing any 
key on the keyboard 
stops execution of a 
program (page 102)Executed as a 
recorded program 
instruction: 
t Run/Stop. Stops 
program execution 
(page 101). 
 
i Go to. Followed by 
a two-digit number, 
causes calculator to 
branch to the specified 
line number next, and 
resumes program 
execution from there 
(page 103). 
 
u Pause. Stops 
program execution for 
about 1 second and 
displays contents of 
X-register, then resumes 
program execution 
(page 97). 
 
om Conditional. 
o tests number in 
X-register against that in 
Y-register. m tests 
number in X-register 
against zero. If true, 
calculator continues 
execution at next 
program memory line. If 
false, calculator skips 
next line before 
resuming execution 
(page 107)  
						

							 
208 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 208 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Subject Index 
A 
, 12, 54, 172 
Adding instructions, 114–19 
Advance payments, 151, 156 
Amortization, 38, 54–56, 186 
Annual interest rate, 39 
Annual Percentage Rate, 52–53, 
124–26, 202 
Annuities, 36 
Annuities, deferred, 134–35 
Annuity due, 37–38 
Appreciation, 38 
APR. See Annual Percentage Rate 
Arithmetic calculations with constants, 
75, 177 
Arithmetic calculations, chain, 
20–22 
Arithmetic calculations, simple, 19 
Arithmetic operations and the stack, 
173 
Arithmetic, storage register, 24 
Average. See Mean 
Average See Mean, 77 
B 
, 37 
, 92 
Backstep, 92 
Balloon payments, 40, 41 
Battery, 193 
Battery power, low, 12, 16, 193 
Battery, installing, 193–94 
BEGIN status indicator, 37 
Bonds, 66–68, 163–67, 188, 202 
Bonds, 30/360 day basis, 163–65 
Bonds, annual coupon, 166 
Bonds, corporate, 67 Bonds, municipal, 67 
Bonds, state and local government, 
67  
Bonds, U.S. Treasury, 66 
Branching, 103–12, 116 
Branching, adding instructions by, 
116–19 
Branching, conditional, 107–8 
Branching, simple, 103 
C 
, 61 
, 59, 61, 64 
, 17, 19, 33, 59 
, 18, 28 
, 172 
, 172 
C status indicator, 51 
Calendar functions, 29–31, 187 
Calendar functions and the stack, 
175 
Cash flow diagram, 34–38 
Cash flow sign convention, 33, 36 
Cash flows, changing, 65 
Cash flows, reviewing, 64 
Cash flows, storing for I and L, 58, 
65 
Chain calculations, 20–22, 176–77 
Clearing display, 18 
Clearing financial registers, 18 
Clearing operations, 17, 18 
Clearing prefix keys, 17 
Clearing program memory, 18, 89 
Clearing statistics registers, 18, 76 
Clearing storage registers, 18, 24, 
70  
Clearing X-register, 18 
Compound growth, 37, 39  
						

							 Subject Index 209 
 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 209 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Compound interest, 39–53, 186 
Compound interest calculation, 11 
Compounding periods, 34, 39 
Conditional branching, 107–8 
Conditional test instructions, 107 
Constants, arithmetic calculations 
with, 177 
Constants, arithmetic calculations 
with, 75 
Continuous compounding, 162, 191 
Continuous effective rate, 162 
Continuous memory, 70 
Continuous memory, resetting of, 33, 
37, 70, 72, 93, 94 
D 
, 29–31 
, 68, 172 
, 51, 172 
D.MY status indicator, 30 
Data storage registers, 23–25 
Date format, 29, 70 
Dates, days between, 31 
Dates, future or past, 30 
Days, between dates, 31 
Decimal places, rounding, 71 
Decimal point, changing, 17 
Declining-balance depreciation, 139 
Deferred annuities, 134–35 
Depreciation, 68, 136–48, 189–90 
Depreciation, declining-balance, 
139 
Depreciation, excess, 148 
Depreciation, partial year, 136–48 
Depreciation, sum-of-the-years-digits, 
141 
Depreciation, with crossover, 
144–48 
Digit entry, recovering from errors in, 
75  
Digit entry, termination of, 19, 171 
Discounted cashflow analysis, 57 
Display, 71 Display format, mantissa, 73 
Display format, standard, 71 
Display formats, number, 71 
Display, scientific notation, 72 
Displaying numbers, 32 
Displays, special, 73 
E 
, 18 
Editing a program, 113 
Effective interest rate, converting, 
161 
Entry errors, 75 
Error conditions, 74 
Error, Pr, 74 
Errors, 74 
Errors, in digit entry, 75 
Excess depreciation, 148 
Exponent, 18, 85 
Exponential, 83 
F 
Factorial, 83 
Financial registers, 32 
Financial registers, clearing, 33 
Fractional, 84 
Future value, 36 
Future value, calculating, 48 
FV, 36 
G 
, 93 
I 
, 12 
, 172 
, 12 
Indicators, status, 71 
Instructions in program lines, 91 
Interest rate, annual, 43 
Interest rate, periodic, 43  
						

							210 Subject Index 
 
File name: hp 12c_users guide_English_HDPMBF12E44  Page: 210 of 209   
Printered Date: 2005/7/29    Dimension: 14.8 cm x 21 cm 
 
Interest, simple, 33 
Internal rate of return, 57 
Internal rate of return, calculating, 
63 
Internal rate of return, modified, 148 
Interrupting a program, 97 
IRR, 57, 148 
K 
Keyboard, 16 
L 
, 74 
LAST X register, 70 
Leasing, 151 
Linear estimation, 80 
Logarithm, 83 
Looping, 103 
Low-power indicator, 16 
M 
, 172 
Mantissa, 18, 73 
Mantissa Display Format, 73 
Mean, 77 
Mean, weighted, 81 
memory, 23 
Memory, program, 94 
Modified internal rate of return, 148 
Mortgage, price of, 126 
Mortgage, yield of, 128 
Multiple programs, 120 
N 
Negative numbers, 17 
Net amount, 27 
Net present value, 57 
Net present value, calculating, 58 
Nominal interest rate, converting, 
160 
Nominal rate, 162 
NPV, 57 Number display formats, 71 
Numbers, keying in, 17 
Numbers, large, 18 
Numbers, negative, 17 
Numbers, recalling, 23 
Numbers, storing, 23 
O 
Odd-period calculations, 50 
Odd-period mode, 36 
One-number functions, 83 
One-variable statistics, 76 
Overflow, 73 
P 
, 97 
, 172 
Partial-year depreciation, 136 
Payment, 36, 156 
Payment amount, calculating, 46 
Paym e n t  m o d e,  37  
Payments, advance, 151, 156 
Payments, number of, 39 
Percent difference, 27 
Percent of total, 28 
Pe rc e n t a g e s ,  26  
PM T,  36 
Po p u l a t i o n s ,  79  
Powe r  f u n c t i o n,  85  
Pr error, 74 
Prefix key, 16 
Present value, 36 
Present value, calculating, 44 
PRGM status indicator, 88, 89 
Program branching, 103 
Program editing, 113 
Program lines, displaying, 92 
Program looping, 103 
Program memory, 90, 94 
Program mode, 88 
Program, creating, 88 
Program, interrupting, 97 
Program, running, 89, 122