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Owners Guide
V12 Financial Calculator
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VI CTOR T E CHNOLO G Y Preface Congratulations on your purchase of the V12 financial calculator from Victor Technology. Victor has been serving customers since 1918. Today, Victor offers a complete line of printing, handheld, desktop, scientific, and financial calculators. For more information please see our website at www.victortech.com or call us at 1-800-628-2420. Victor: The Choice of Professionals Copyright © 2007 by Victor Technology LLC All rights reserved. 2
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VI CTOR T E CHNOLO G Y Table of Contents Chapter 1: Where to Start .................................. 6 Powering On and Off .............................................6 Controlling screen contrast ....................................6 Keyboard Dynamics...............................................6 Entering Digits .......................................................6 Decimal Placement................................................6 Entering Large Amounts .....................
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VI CTOR T E CHNOLO G Y Determining Payment Amount: Solving for PMT 17 Determining Future Value: Solving for FV .........18 Determining Number of Periods: Solving for n..19 Loan With Balloon Payment.................................19 Amortization Function ..........................................20 Chapter 3: Other Financial Calculations......... 22 NPV (Net Present Value).....................................22 Grouped Cash Flows ...........................................23
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VI CTOR T E CHNOLO G Y Power Features in RPN method ..........................49 Chapter 5: The Basics of Programming ........... 50 Creating Your Own Program................................50 Executing Your Own Program .............................53 Program Memory Basics......................................54 Determining Program Line Instructions................54 Program line 000 and the GTO 000 instruction:...56 Performing a Program One Line at a Time ..........56 Setting the Ca
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VI CTOR T E CHNOLO G Y Chapter 1: Where to Start Powering On and Off Turn the unit on by touching the ON button. To turn the unit off, touch the ON button again. The calculator will automatically power off after 7 minutes if not used. When the calculator is experiencing a low battery charge, a battery icon will appear in the top left corner of the display screen. Controlling screen contrast To change the contrast of the display screen for optimal viewing, hold down the .b bu
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VI CTOR T E CHNOLO G Y Entering Large Amounts The V12 displays numbers up to 10 digits. Scientific notation allows numbers longer than 10 digits to be entered. To perform this function, enter the number with the decimal point moved to the left. Keep track of how many positions the decimal point moved. Next touch the EEX button and enter the number of positions the decimal point was moved. Touch the ENTER key to complete the entry. Example To enter a value of 7,894,300,000,00
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VI CTOR T E CHNOLO G Y Using the Clear Function Clearing replaces the displayed value with zero and replaces the previous instruction with the r GTO 000 instruction when programming. There are many ways of clearing data, outlined here: BUTTONS WILL CLEAR Storage registers, block and last x register, .b CLEAR REG and display screen .b CLEAR FIN Financial registers Statistical registers (12 - R) 1 1 .b CLEAR ∑ block registers and display screen .b CLEAR Progr
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VI CTOR T E CHNOLO G Y RPN method To select the RPN method, touch b RPN , and the RPN icon appears. With RPN method enabled, you can perform basic calculations with two numbers and with multiplication, addition, division, or subtraction. It is necessary to enter both numbers in the equation, and then select the mathematical operation to be used. Touching ENTER between number entries allows a separation of the different values within the calculator, and after entering the sec
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VI CTOR T E CHNOLO G Y To delete stored values, enter zero, touch STO , and select the register to be deleted, R0 through R9, and R .. 0 through R .. 9. (Note: Designating a new value instead of 0 also replaces the old value set to the register) 10
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VI CTOR T E CHNOLO G Y Chapter 2: The First Steps to Financial Functions Using the Financial Storage Registers Five specialty registers are used for financial calculations only. These are n , i , PV , PMT , and FV and are located along the top row of buttons. Saving data to these storage registers makes it possible to calculate financial problems such as loan payments. Saving to a Register To set the numbers into the registers, enter the number to be stored, and touch
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VI CTOR T E CHNOLO G Y Example Calculate the simple interest on a 100,000 amount with 12% annual interest for 180 days using the 360 day cycle and the 365 day cycle. ENTRIES DISPLAY -100,000.00 100000 CHS PV Displays the amount. 180.00 180 n. Displays the number of days for which interest will be calculated 12.00 12 i. Displays the annual interest rate 6,000.00 .b INT Displays the simple interest on a 360 day basis 5,917.81 R ↓ x ↔y Displays the simple interest
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VI CTOR T E CHNOLO G Y 9.68 b INT Displays the simple interest on a 360 day basis 909.68 .+ x ↔ y = Displays the simple interest plus principal due on a 360 day basis ENTRIES (RPN) DISPLAY -900.00 900 CHS PV Displays the amount. 90.00 90 n. Displays the number of days for which interest will be calculated 4.30 4.3 i. Displays the annual interest rate 9.68 b INT Displays the simple interest on a 360 day basis 909.68 +. Displays the simple interest plu
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VI CTOR T E CHNOLO G Y Basic Financial Calculations Before describing Basic Financial Calculations, it is important to review and understand five basic terms and keys used with the V12. TERM / DEFINITION KEY The number of periods in the financial loan, often n. expressed in days, months, or years. The interest rate must be defined per period. The interest rate per period. Often an annual rate i. is converted to monthly by dividing by 12, weekly by dividing by 52, or daily by
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VI CTOR T E CHNOLO G Y To select payment type: Touch r END if the payment will be made at the end of the period. Touch r BEG if the payment will be made at the beginning of the period. Most transactions utilize an End of the period payment. Note: This manual will only show examples using End of the period payments. If the BEGIN icon is not showing on the display, the payment function is set to END. The special relationship between i. and n. In compound interest pr
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VI CTOR T E CHNOLO G Y ------------ The V12 is calculating the value. .i. 0.50 Displays the monthly interest rate. Example 8 % annual interest, which is compounded quarterly for 3 years: n is number of quarters (3 * 4=12) i is interest rate per quarter (8% ÷ 4 = 0.02%) If interest rate was compounded monthly, n would be 8% ÷ 12 =0.006 Since many financial calculations utilize an annual interest rate compounded monthly, the V12 has two functions to simplify the entry o
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VI CTOR T E CHNOLO G Y Note: If the amount owed at the end of the loan period will be zero, this step can be skipped. Touch the PV key to calculate the present value. Example ENTRIES DISPLAY 0.00 .b FIN Clears the financial registers. 360.00 360 n. Displays 360 months for a 30 year loan. 0.50 6 r i. Displays the interest rate of 6% per year or 0.5% per month. -2,398.20 2398.202 CHS PMT Displays the monthly payment ------------ The V12 is calculating the valu
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VI CTOR T E CHNOLO G Y 0.50 6 r i. Displays the interest rate of 6% per year or 0.5% per month. 400.000.00 400000 PV Displays the loan amount or present value. -2,398.20 PMT Displays the monthly payment Determining Future Value: Solving for FV Touch b CLEAR FIN to reset financial registers Use n or r 12x to enter number of periods or payments Use i or r 12÷ to enter annual interest rate Enter values for PV and PMT Touch r BEG or r END
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VI CTOR T E CHNOLO G Y Determining Number of Periods: Solving for n. To determine the number of compounding periods and the number of payments: Touch b CLEAR FIN to reset financial registers Use i or r 12÷ to enter periodic interest rate. Enter values for PV(present value), PMT (amount of payment), FV (future value) Select payment function by touching r BEG or r. END Touch n to calculate number of periods or payments Example ENTRIES (RPN) DISPLAY
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VI CTOR T E CHNOLO G Y Example ENTRIES (RPN) DISPLAY 0.00 b FIN Clears the financial registers. 360.00 360 n. Displays 360 months for a 30 year loan. 0.50 6 r i. Displays the interest rate of 6% per year or 0.5% per month. 400.000.00 400000 PV Displays the loan amount or present value. -70,000.00 -70000 FV Displays the future value required to pay off the loan (the balloon payment) -2,328.52 PMT Displays the monthly payment required to reach a $70.000 balloon pay
