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HP 12C - Part III Solutions

HP 12C
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154
Profit and Loss Analysis
Net income = (1 - tax)(net sales price - manufacturing expense - operating
expense)
Net sales price = list price(1 - discount rate)
where operating expense represents a percentage of net sales price.
Securities
Discounted Notes
Price (given discount rate)
B = number of days in year (annual basis).
DR = discount rate (as a decimal).
DSM = number of days from settlement date to maturity date.
P = dollar price per $100 per value.
RV = redemption value per $100 par value.
Yield (given price)
B = number of days in year (annual basis).
DSM = number of days from settlement date to maturity date.
P = dollar price per $100 par value.
RV = redemption value per $100 par value.
Y = annual yield of investment with security held to maturity (as a decimal).
Forecasting
PRV[]DR RV
DSM
B
--------------
××=
Y
RV P
P
------------------
B
DSM
--------------
×=

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