HP 20b HP 20b Business Consultant Financial Calculator Manual
HP 20b - Business Consultant Financial Calculator Manual
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- HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 1
HP 20b Business Consultant Financial Calculator Manual For free training, visit www.hp.com/go/calctraining HP part number: F2219-90201 First edition: August 2008 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 2
"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, non-infringement and fitness for a particular purpose. Hewlett-Packard Company shall not - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 3
Contents Contents Legal Notices Revision History...2 HP 20b Business Consultant Keyboard Keyboard Map Legend ...6 1 Basic Features Welcome to the HP 20b Financial Calculator 7 Turning the Calculator On and Off 7 Selecting a Language ...7 Adjusting the Display Contrast 7 Cursor ...7 Two Line - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 4
Date Calculation Menu 49 Date Calculation Example 49 7 Break-even The Break-even Menu ...51 Break-even Example 51 8 Business Problems The Percent Calculation Menu 53 Percent Calculation Examples 54 9 Depreciation The Depreciation Menu ...56 Depreciation Example 58 10 Statistical Operations The - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 5
Statistics Example...63 11 Errors Error Messages and Calculator Status 65 12 Warranty, Regulatory, and Contact Information Replacing the Batteries...67 HP Limited Hardware Warranty and Customer Care 67 Customer Care ...68 Product Regulatory & Environment Information 71 Index Contents 5 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 6
HP 20b Business Consultant Keyboard HP 20b Business Consultant Keyboard Keyboard Map Legend No. Feature Chapter(s) 1 Time Value of Money keys 3 2 Cash Flows, IRR, and NPV 4 menus 3 Data and Statistics menus 9 4 Input key 1 5 Memory menu 1 6 Up/Insert and Down/Delete 1 keys 7 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 7
This manual is designed to familiarize you with the many features of your new 20b Financial Calculator. It includes menu maps, example problems . See Chapter 12, Warranty, Regulatory, and Contact Information for instructions on replacing the batteries. Selecting a Language English is the default - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 8
, and abbreviations of the registers, variables, and menu names. Throughout this manual, this line is referred to as the top line. In Figure 1, . 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 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 9
Basic Features Table 1-1 Mode Menu Settings Setting (top line) FIX= 2 Description Display precision (number of digits displayed to the right of the decimal point). Default is 2. I = Key in the number of digits you want and press , or press until the number of digits you want is displayed. - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 10
Basic Features Table 1-1 Mode Menu Settings Setting (top line) English, Français, Deutch, or Español Description Language setting for the messages displayed on the screen. Default is English. I Pressing cycles through these options. Actual or Cal.360 Calendar options for bonds and date - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 11
press of , simply press a second time. : In this manual, commands using the secondary key functions are represented by the secondary function and it is used throughout the manual to make the examples easier to follow. Key commands for example problems are provided throughout the text and in - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 12
Basic Features Figure 3 Annunciator Symbols in the Screen Display The I Key I The key is used to input values for variables and execute menu items. I The key is also used in Reverse Polish Notation (RPN) mode to enter a number on the stack or duplicate it. The = Key = 1+2= The key is used - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 13
Basic Features = When an item for which the key is valid displays, the small annunciator (=) 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. I When an item for which the key is - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 14
Basic Features For more information about storing and recalling numbers, refer to the section titled, Storing and Recalling Numbers in Chapter 2. The Cash Flow and Statistics menus share the same memory and are limited to a combined total of 50 memory slots. The number displayed with Memory refers - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 15
Basic Features In this manual, diagrams called Menu Maps are included at the beginning of each section to assist you with navigating through the menus used for that section. For - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 16
2 Mathematical Calculations Mathematical Calculations Mathematical Functions Mathematical functions are located: On keys, such as, +-*/, etc. :p On shifted, or secondary functions, such as, In the Math menu, :s Number Entry and Display Numbers are entered by pressing: Numbered keys, 0-9 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 17
the left to right order of entry, use parentheses to prioritize operations. For example, to calculate 1 2 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 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 18
Mathematical Calculations For example, key in 1+ 2 x 5 nPr22 in Algebraic mode by pressing: 1+2*5:b2:m=. The result is 241. Note: the calculator is limited to 12 pending operations. An operation is pending when it is waiting for the input of a number or the result of an operation of higher priority. - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 19
Mathematical Calculations (+) When an operation is performed on the stack, addition for instance, the calculator "pops" or moves the two numbers from the bottom levels (Levels 1 and 2) out of the stack, performs the operation, and "pushes" the results back into the stack. + With the numbers - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 20
1.23 and 56.123, then divides the sum by the last number, 56.123. Returns results in the selected display format. For more complex problems requiring two or more operations, you do not need to enter parentheses to set operational priority. Key in numbers and operations inside the parentheses first - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 21
Mathematical Calculations Table 2-3 Simple Arithmetic Calculations in RPN Mode Keys Display Description * Finishes the operation and displays the results. RPN Stack I = Pressing or when you are not entering a number duplicates the number on Level 1. That is, the number on I * Level 1 is - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 22
Mathematical Calculations Figure 6 The RPN Stack and the Roll Down Operation ) ) Pressing performs a swap. A swap operation exchanges the numbers on Levels 1 and 2 of the stack. The key has a small symbol on it as a reminder of the swap feature. With the numbers entered into the stack shown in the - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 23
angle mode is set for degrees (Degrees) or radians (Radians). You will need to 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 in Chapter 1. Table - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 24
Mathematical Calculations Figure 8 The Menu Map for the Math Menu < Press to scroll through the menu items, starting with Trigonometry. The Trigonometry, Hyperbolic, and Probability items I have sub-menus. Press with these items displayed to access the functions within the sub menus. O :s - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 25
Table 2-5 Math Menu Example Keys .5I :s Display I< I or = Mathematical Calculations Description Enters 0.5 and opens the Math menu starting with Trigonometry. Selects the Trigonometry sub-menu and scrolls to Sin-1. Note the value for Sin-1 is calculated immediately and displayed. Validates the - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 26
Mathematical Calculations 2. Type the number for which you want to calculate the probability, or, for the inverse, the probability for which you want the number. 3. Navigate to the appropriate function in the Probability sub-menu of the Math menu. Table 2-6 Probability Example Keys 10I 8I :s - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 27
Mathematical Calculations nCr nPr Y x is the power function, nCr stands for the number of combinations of n items taken r at a time, and nPr stands for the number of permutations of n items taken r at a time. n! Combination= r!n r! n! Permutation= n r! +-/ * Perform calculations with - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 28
Mathematical Calculations L2 +-* press to recall memory 2. Note how the new current value stored in memory 2 is 17, (5 +12). and / are valid mathematical operations for memories. :t < > To view the stored values in memories 1-9 and 0, press , followed by or repeatedly to scroll through each - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 29
Mathematical Calculations = To find a percentage of a given number, enter the number and multiply it by the desired percentage, followed by . 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, - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 30
) Keys Cash flow diagrams are useful tools for analyzing financial situations, as they help you identify the TVM functions needed to resolve your problem. A cash flow diagram is a drawing with a set of vertical arrows arranged on a horizontal line. The horizontal line represents the period of time - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 31
Time Value of Money Figure 1 Cash Flow Diagram Example with Corresponding TVM Keys The TVM functions of the calculator can solve problems with at least one cash flow, and problems in which all the cash flows, except the first and last, are of the same value. To solve other types of cash flows - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 32
Time Value of Money To save values for the TVM variables, enter the desired number, followed by the corresponding TVM key. To calculate an unknown value, enter all known values and press the key of the item you want solved. Table 3-1 TVM Keys Keys Description N Stores or calculates the number - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 33
Time Value of Money Table 3-2 TVM Example Keys Display M Description Returns the monthly payment. This result is negative (-); it is money you pay out. :x < > To reset the TVM variables to their default values, with any TVM variable displayed press . Press or I O repeatedly until TVM - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 34
Time Value of Money A < > Enter the values for the TVM keys for the example below. Press followed by or to view the amortization schedule. Creating an Amortization Schedule You borrow 140,000.00 for 360 months at 10% interest. Create an amortization schedule for the loan. How much interest did - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 35
Time Value of Money :x To reset the menu items to their default values, with any item of the Amortization menu displayed press . With TVM I I O displayed, press . At the TVM Reset prompt, press to reset, or to cancel. Interest Conversion Menu Figure 3 The Menu Map for the Interest Conversion - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 36
a subsequent TVM calculation. This feature is provided for your convenience, but this means modifying one number also modifies the other. If your TVM problem requires different values for P/YR and C/YR, refer to the section below titled, Canadian Mortgages: TVM Canada. The IConv menu permits you to - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 37
to P/YR. This means that if you modify P/YR, you also need to modify C/YR, if P/YR and C/YR are different values in your TVM problem. 37 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 38
Time Value of Money Canadian Mortgage Example Calculate the monthly payment for a 25-year (N=300) Canadian mortgage valued at 350,000.00, if the nominal interest rate is 6.0%, compounded twice yearly (C/YR=2) with 12 payments per year (P/YR). Table 3-7 Canadian Mortgage Example Keys Display - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 39
cash flow list. Each pair represents one or more cash flows in a cash flow diagram. As with TVM problems, it helps to sketch a cash flow diagram as a first step in solving cash flow problems. For some examples of cash flow diagrams, see Figure 3 at the end of this chapter. CF(n) represents the - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 40
will be asked to confirm your choice. Either press I O to confirm the reset, or to cancel. Table 4-1 lists the keys used for cash flow problems. For a cash flow example, see Table 4-2. Table 4-1 Cash Flow Keys Key Description C Opens the cash flow list. I Inputs new values for variables in - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 41
Table 4-2 Cash Flow Example Keys C Display 8000 0}I I 5000I I 4500I I I I 4000I I 5000I 5I 41 Cash Flows Description Opens the cash flow list. Inputs -80000 as the monetary value of the initial cash flow. Note: the sign of the cash outflow is negative. Accepts 1 as the number of - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 42
Table 4-2 Cash Flow Example Keys Display 115000 I I Cash Flows Description Inputs 115000 as the monetary value of CF(6). Displays the current value, 1, for the number of times CF(6) occurs. Accepts 1 as the number of occurrences for CF(6). Analyzing Cash Flows P R R P The various functions - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 43
Cash Flows Table 4-3 NPV and IRR Menu Items Item Description Inv. I% Investment or discount rate. Enter the investment rate or discount rate for the cash I flow followed by . Net PV Net present value. Shows the value of the cash flows at the time of the initial cash flow, discounting the - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 44
Table 4-4 NPV and IRR Example Keys Display < - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 45
Sample Cash Flow Diagrams Cash Flows Figure 3 Sample Cash Flow Diagrams 45 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 46
for the Bond Menu The Bond Menu Before you enter the Bond menu, be sure to verify the date format is set appropriately for your problem. The default setting is mm.ddyyyy, but it can be set for dd.mmyyyy. Bond day counts (360/365) and annual or semiannual coupon payment - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 47
Bonds Table 5-1 Bond Menu Items Variable Call Yield% Price Accrued Actual/Cal.360 Annual/Semiannual Description 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% to maturity or yield% to call - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 48
Bonds Table 5-2 Bond Calculation Example Key < Display - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 49
or repeatedly to scroll through the items shown in Figure 1. Before you enter dates, verify the date is set in the format required for your problem. Date and calendar formats may be set in the Mode menu. For more information on setting the preferences in the Mode Menu, see the section - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 50
Table 6-1 Date Calculation Example Key Display - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 51
known data, press or repeatedly to scroll to the unknown item and press = to calculate it. The break-even function allows you to study problems involving a profit, when a quantity of items, with a cost to manufacture and a fixed price to develop and market, is sold at a given price. See Figure - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 52
Break-even Table 7-1 Break-even Example Keys - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 53
8 Business Problems Business Problems Figure 1 The Menu Map for the Percent Calculation (%calc) Menu The Percent Calculation Menu :# Press to open the menu. There are four items in this - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 54
Note: for business problems, margin is based on price; markup is based on cost. The examples below are shown with RPN as the active operating mode. Percent Calculation Examples - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 55
Business Problems Note: although the example in Table 8-2 calls for no compounding, you may specify the number of compounding periods used in calculations with the Nb Period - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 56
9 Depreciation Depreciation Figure 1 The Menu Map for the Depreciation Menu The Depreciation Menu :\ I Press to open the Depreciation menu. To select a depreciation method, press repeatedly. See Figure 1. Input the values required for the calculation: Asset life Starting date or month of - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 57
for Start to indicate when the asset was first placed into service. Amort F French amortization. This method is an accelerated depreciation method 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 (1-12), - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 58
Depreciation Table 9-2 Depreciation Menu Items Item Description Salvage The salvage value of the asset at the end of its useful life. Factor The declining balance factor as a percentage. This is used for declining balance and declining balance crossover methods only. Year Year for which you - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 59
Table 9-3 Straight Line Depreciation Example Key < Display < < < < < Depreciation Description Remaining book value after year one. Remaining depreciable value after year one. The next year for which to calculate the depreciation. To calculate for a year other than 2, type a number and I - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 60
10 Statistical Operations Statistical Operations Figure 1 The Menu Maps for the Data and Statistics Menus 60 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 61
Statistical Operations The Data and Stats Menus :y :z Statistics analysis functions are located in the Data and Statistics menus accessible with the and keys. See Figure 1 for assistance with navigating through the menus. :y Press to open the Data menu. In this menu, enter a list of x values - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 62
Statistical Operations Table 10-1 The Statistics Menu Items Menu Item Nb Item Description Number of items. X Mean Average of X values. Y Mean Average of Y values. X Std. Dev Standard deviation for X: a measure of how dispersed the x data values are about the mean. Y Std. Dev Standard - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 63
Statistical Operations Table 10-1 The Statistics Menu Items Menu Item Description Sigma Y The sum of the y values. Sigma X2 The sum of the squares of the x values. Sigma Y2 The sum of the squares for the y values. Sigma XY The sum of the products of the x and y values. Statistics Example - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 64
Table 10-3 Statistics Example Keys 5I1 70I Display Statistical Operations Description Inputs values for X(5) and Y(5). :z Opens Stats menu. - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 65
are invalid for any reason. ER: Invalid I% Returned by finance functions if I is ≤ 100%. ER: No Solution Returned when there is no solution to the problem. ER: Many or No Solutions Returned if there is no solution, or more than one solution to the - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 66
IRR Not Found ER: Stack ER: Parenthesis: ER: Insufficient Memory ER: No Solution Found Errors Status Returned when there are many solutions to the problem. Returned by TVM/Amort if N is invalid. Returned by long functions if user stops the calculation prior to completion. Returned if the result is - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 67
by region, please visit www.hp.com/support for latest information) General Terms HP warrants software will not fail to execute its programming instructions after the date of purchase, for the period services are set forth in the express warranty statements accompanying such products and services. - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 68
, and Contact Information Customer Care In addition to the one year hardware warranty your HP calculator also comes with one year of technical support. If you need assistance, HP customer care can be reached by either email or telephone. Before calling please locate the call center nearest - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 69
-5105 800-711-2884 852 2833-1111 www.hp.com/support/india +65 6100 6682 01 605 0356 02 754 19 782 81-3-6666-9925 www.hp.com /support/korea www.hp.com/support +65 6100 6682 01-800-474-68368 www.hp.com/support 020 654 5301 0800-551-664 1-800-711-2884 23500027 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 70
228 3050 01 439 5358 6100 6682 0800980410 2-561-2700 022 827 8780 09 8171 0281 08 5199 2065 022 567 5308 www.hp.com/support +852 28052563 +65 6100 6682 0207 458 0161 800-HP INVENT 0004-054-177 0-800-474-68368 +65 6100 6682 70 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 71
. 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 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 72
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. Chemical Substances HP is committed to providing our customers with information about the chemical - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 73
Warranty, Regulatory, and Contact Information 部件名称 铅 (Pb) 汞 (Hg) 镉 (Cd) Cr(VI PBB) PCA X O O O O O O O O O O SJ/T11363-2006 X SJ/T11363-2006 X RoHS 2003年1月27 2002/95/EC PBDE) O O 73 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 74
semiannual, 10; example, 47; key, 46; menu items, 46 bonds, 46 bottom line: display, 8 break-even: BrkEv key, 51; example, 51 business problems, 53; percent calculation examples, 54 C calculation mode: Chain, Algebraic, and RPN, 10 calendar: Actual, Cal.360, 10 call value, 47 Canada TVM example, 38 - HP 20b | HP 20b Business Consultant Financial Calculator Manual - Page 75
N N key, 32 natural exponent: e to the power of x key, 23 nCr, 27 negative numbers, 16 net future value, 43 net present value, 43 net uniform series, 43 nPr, 27 NPV: key, 42 NPV, IRR: menu items, 43 number entry, 16 number period: compounding, 55 number periods: amortization, 33 numbers: rounding,
HP 20b Business Consultant
Financial Calculator Manual
For free training, visit www.hp.com/go/calctraining
HP part number: F2219-90201
First edition: August 2008