HP 10bII+ User Manual

Time Value of Money Calculations68
Figure 11 Cash flow diagram (Calculate the number of years)
Since this account has no regular payments (PMT = 0), the payment mode (End or Begin) is
irrelevant.
Since the calculated value of N is between 5 and 6, it will take six years of annual
compounding to achieve a balance of at least 3,000. Calculate the actual balance at the end
of six years.
Table 6-8 Calculating the number of years
Keys Display Description
]OJ
0.00 Clears TVM memory.
J\Í
1. 0 0 S e t s P/YR to 1 since interest is
compounded annually.
G:::yÏ
-2,000.00 Stores amount paid out for the
first deposit.
D:::É
3,000.00 Stores the amount you wish to
accumulate.
j7GÒ
7.20 Stores annual interest rate.
Ù
5.83 Calculates the number of years it
takes to reach 3,000.

HP 10bII+ Specifications

General

Memory registers	22
Keyboard type	Numeric
Battery type	CR2032
Auto power off	Yes
Battery technology	Lithium
Number of batteries supported	2
Type	Financial
Form factor	Pocket
Product color	Black
Digits	- digits
Display tilting	No
Display size (HxV)	63.5 x 16 mm
Display number of lines	1 lines
Display number of characters	12

Weight and Dimensions

Weight	85 g
Dimensions (WxDxH)	80.9 x 14 x 145 mm