Sharp EL 738C EL-738 Operation Manual - Page 29

Specifying payments due - receiver number

Get Sharp EL 738C - 10-Digit Financial Calculator PDF manuals and user guides
UPC - 074000018549
View all Sharp EL 738C manuals
Add to My Manuals
Save this manual to your list of manuals

Page 29 highlights

Specifying payments due (. ") This calculator can select ordinary annuity or annuity due depending on the regular cash flow (payment) conditions. Ordinary annuity (END): This is the default setting for financial calculations. BGN is not displayed. A regular cash flow (payment) is received at end of each payment period. Often applied to loan calculations, etc. Annuity due (BGN): BGN appears on the display. A regular cash flow (payment) is received at the beginning of each payment period. Often applied to the finance lease of an asset. To toggle between ordinary annuity and annuity due, press . ". Note: The above selection only affects the TVM solver. 1 Ordinary annuity Your company wishes to accumulate a fund of $300,000 over the next 18 months in order to open a second location. At the end of each month, a fixed amount will be invested in a money market savings account with an investment dealer. What should the monthly investment be in order to reach the savings objective, assuming the account will earn 3.6% interest compounded monthly? FV = $300,000 PV = 0 I/Y = 3.6% ...... PMT = ? Procedure Set all the variables to default values. N = 18 Key operation . b Display 000 Make sure ordinary annuity is set (BGN is not displayed). Set the number of pay- . w 12 Q ments per year to 12. P/Y= 1200 The number of compounding periods per year is automatically set to 12. Press s to exit the P/Y and C/Y settings. 28

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
28
Specifying payments due (
.
"
)
This calculator can select ordinary annuity or annuity due de-
pending on the regular cash flow (payment) conditions.
Ordinary annuity (END):
This is the default setting for financial calculations.
BGN
is not
displayed. A regular cash flow (payment) is received at end of
each payment period. Often applied to loan calculations, etc.
Annuity due (BGN):
BGN
appears on the display. A regular cash flow (payment) is
received at the beginning of each payment period. Often applied
to the finance lease of an asset.
To toggle between ordinary annuity and annuity due, press
.
"
.
Note:
The above selection only affects the TVM solver.
Ordinary annuity
Your company wishes to accumulate a fund of $300,000 over the
next 18 months in order to open a second location. At the end of
each month, a fixed amount will be invested in a money market
savings account with an investment dealer. What should the
monthly investment be in order to reach the savings objective, as-
suming the account will earn 3.6% interest compounded monthly?
N = 18
PV = 0
FV = $300,000
PMT = ?
......
I/Y = 3.6%
Procedure
Key operation
Display
Set all the variables to
default values.
.
b
000
Make sure ordinary annuity is set (
BGN
is not displayed).
Set the number of pay-
ments per year to 12.
.
w
12
Q
P/Y=
1200
The number of compounding periods per year is automatically set to
12.
Press
s
to exit the P/Y and C/Y settings.
1