Keys, 121(ezxsi, Display: description – HP 10B User Manual
Page 111
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This problem is solved in two steps. First calculate the amount you’ll need
when she starts college. Start with an interest rate conversion because of
the monthly compounding.
^ $15,000 >
m i i i H i n
H i m i n n
i m i m m
I/YR =9%
i m u m n
Year 1
Year 2
Years
Year 4
Keys:
9
lEEia
121(EZXSI
lEES
Display:
Description:
9.00
Stores annual nominal
rate.
12.00
Stores number of com
pounding periods used
with this nominal rate.
9.38
Culcululcs annual
effective rate.
When compounding occurs only once per year, the effective rate and the
nominal rate arc the same.
9.38
Stores effective rale as
annual rate.
Set to Begin mode. Press
displayed.
dll^üSD
if BEGIN annunciator is not
1
15000 fPMTl
4 ■
1.00
15,000.00
4.00
Sets 1 payment per year.
Stores annual withdrawal.
Stores number of with
drawals.
108
8: Additional Examples