Self Study Guide/Certification Test Preparation
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Table Of Contents
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Overview of HP 12c Calculator Keys
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1. Financial Registers
What It Is:
Application:
How To:
[n] [i] [PV] [PMT] [FV]
Example: [n]
[n]
[RCL]
Example:
[n]
[f][REG]
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2. Simple Interest On A 360 or 365 Day Basis
What It Is:
Application:
How To:
[n]
[i]
[CHS][PV]
[f][INT]
[R ][x><y]
[+]
Example:
[n]
[i]
[CHS][PV]
5. [f][INT]
6. [+]
Answers: $22.50, and $1,022.50
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3. Compound Interest
What It Is:
Application:
How To:
[g][12x]
[g][12÷]
[f][FIN]
[i] [12÷]
[PV]
[PMT]
[g][BEG]
[g][END]
[FV]
[n]
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Example:
[f][FIN]
[g][12÷]
[PV]
[CHS][PMT]
[g][END]
[n]
Answer: Number of payments required to pay down the
loan
[÷]
Answer: Number of years required to pay off the loan
[n]
[FV]
[RCL] [PMT]
[+]
Answer: $1,359.20
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[n]
[FV]
[RCL] [PMT]
[+]
Answer: $2,847.96
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4. Periodic and Annual Interest Rates
What It Is:
Application:
How To:
[f][FIN]
[n] [g][12x]
[PV]
[PMT]
[g][BEG] [g][END]
[FV]
[i]
[X]
Example:
[f][FIN]
[ENTER] [X][n]
[CHS][PV]
[FV]
[i]
[X]
Answer: 5.988%
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5. Nominal Interest Rate Conversion To Effective Interest Rate
What It Is:
Application:
How To:
[g][END]
[f][FIN]
[ENTER]
[n][÷][i]
[CHS][ENTER][PV]
[FV][+]
Example:
[g][END]
[f][FIN]
[ENTER]
[n][÷][i]
[CHS][ENTER]
[PV]
[FV][+]
Answer: 6.398%
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6. Effective Interest Rate Conversion To Nominal Interest Rate
What It Is:
Application:
How To:
[f][FIN]
[n]
[ENTER][PV]
[+][CHS][FV][i]
[RCL][n][X]
Example:
[f][FIN]
[n] [ENTER][PV]
[+][CHS]
[FV][i]
[RCL][n][X]
Answer: 5.149%
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7. Weighted Average Function
What It Is:
Application:
How To:
a.
[f][ ]
[ ]
[f][ ]
[ENTER]
[ +]
[g][xw]
Example:
[f][ ]
[ENTER] [ +]
[ENTER] [ +]
[ENTER] [ +]
[ENTER] [ +]
[g][xw]
Answer: $227,241
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8. Discounting Cash Flows: Net Present Value (NPV) and Internal Rate
of Return (IRR)
What It Is:
Application:
How To:
[f][REG]
[CHS]
[g][CF0]
0[g][CF0]
[CHS]
[g][CFj]
0[g][CFj]
[i] [12÷]
[f][NPV]
Example on next page
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Example:
[f][REG]
[CHS][g][CF0]
[CHS][g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[RCL][n]
[i]
[f][NPV]
Answer: $10,962.66
[f][IRR]
Example:
[f][REG]
[CHS][g][CFj]
[CHS][g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[f][IRR]
Answer: 15.56%
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[STO]
[g][Nj]
Example:
[STO]
[i]
[f][NPV]
[f][REG]
[CHS]
[g][CF0]
[g][CF0]
[g][Nj]
[CHS]
[g][CFj]
0[g][CFj]
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[g][Nj]
Example:
[f][REG]
[CHS][g][CF0]
[g][CFj]
[g][CFj]
[g][CFj]
[g][Nj]
[g][CFj]
[g][CFj]
[g][Nj]
[g][CFj]
[g][CFj]
[i]
13. [f][NPV]
Answer: $1,268.19
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9. Modified Internal Rate of Return (MIRR)
What It Is:
Application:
How To:
Example on next page
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Example for Annual Cash Flows:
Step 1 of 2:
[f][REG]
[g][CF0]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[i] [f][NPV]
[CHS][PV]
[n][FV]
Interim Step 1 Answer (FV of positive cash flows):
$206.55
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Step 2 of 2:
[CHS][g][CF0]
[g][CFj]
[g][CFj]
[CHS][g][CFj]
[i] [f][NPV]
[n][i]
Answer (Annual MIRR): 10.77%
Example for Monthly Cash Flows:
Continued on next page
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Step 1 of 2:
1. [f][REG]
[g][CF0]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][CFj]
[g][12÷] [f][NPV]
[CHS][PV]
[n][FV]
Interim Step 1 Answer (FV of positive cash flows):
$182.00
Step 2 of 2:
[CHS][g][CF0]
[g][CFj]
[g][CFj]
[CHS][g][CFj]
[g][12÷] [f][NPV]
[n][i]
[X]
Answer (Annual MIRR): 105.34%
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10. Annual Percentage Rate Calculations with Fees
What It Is:
Application:
How To:
[g][END]
[f][FIN]
[n]
[i]
[PV]
[PMT]
[RCL][PV]
[%][ ][PV]
[RCL][PV] [ ][PV]
[RCL][PV] [%][ ]
[ ][PV]
[i]
[X]
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Example:
[g][END]
2. [f][FIN]
[g][12x]
[g][12÷]
[PV]
[PMT]
[RCL][PV] [%][ ][PV]
8. [i]
[X]
Answer: 6.189%
[g][END]
[f][FIN]
[g][12x]
[g][12÷]
[PV]
[PMT]
[RCL][PV] [%][ ]
[ ][PV]
[i]
[X]
Answer: 6.237%
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11. Price of a Mortgage Traded at a Discount or Premium
What It Is:
Application:
How To:
i. [g][END]
ii. [f][FIN]
[n]
[i]
[PMT]
[FV]
[PV]
Example:
1. [g][END]
2. [f] [FIN]
[n]
[g][12÷]
[PMT]
[FV][PV]
Answer: $9,507.02
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Example 2:
1. [g][END]
2. [f][FIN]
3. [g][12x]
[g][12÷]
5. [CHS][PV][PMT]
[g][12÷]
7. [PV]
Answer: $16,780.57
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12. Yield of a Mortgage Traded at a Discount or Premium
What It Is:
Application:
How To:
a. [g][END]
b. [f][FIN]
[n]
[PMT]
[PV]
[FV]
[i]
12[X]
Example:
1. [g][END]
2. [f][FIN]
[g][12x]
[g][12÷]
[CHS][PV]
6. [PMT]
7. [RCL][n]
[ ][n]
[CHS][PV]
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10. [i]
[X]
Answer: 11.15%
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