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HP 12c Financial CalculatorQuick Start GuideEdition 1HP Part Number: F2230-90201

Legal NoticesThis manual and any examples contained herein are provided "as is" and are subjectto change without notice. Hewlett-Packard Company makes no warranty of any kindwith regard to this manual, including, but not limited to, the implied warranties ofmerchantability, non-infringement and fitness for a particular purpose.Hewlett-Packard Company shall not be liable for any errors or for incidental or consequential damages in connection with the furnishing, performance, or use of this manual or the examples contained herein.Copyright 2008 Hewlett-Packard Development Company, L.P.Reproduction, adaptation, or translation of this manual is prohibited without priorwritten permission of Hewlett-Packard Company, except as allowed under the copyright laws.Hewlett-Packard Company16399 West Bernardo DriveSan Diego, CA 92127-1899USAPrinting HistoryEdition 1, October 2008

Table of ContentsWelcome to your HP 12c Financial Calculator . 1The Keys. 1Customizing the Calculator . 2Storage Registers and Continuous Memory . 7Reverse Polish Notation (RPN) Mode. 7Keys and Functions . 10Basic Financial Calculation Example . 18Warranty and Contact Information . 20Replacing the Batteries . 20HP Limited Hardware Warranty and Customer Care . 20Limited Hardware Warranty Period . 21General Terms . 21Customer Care . 23Product Regulatory & Environment Information. 28Contents

Contents

1Getting StartedWelcome to your HP 12c Financial CalculatorThis booklet is intended to get you started quickly with the basic featuresof your 12c Financial Calculator. Use it for quick reference. For moredetailed information about the 12c Financial Calculator, refer to the HP12c Financial Calculator User’s Guide. Pages of the user’s guide arecited throughout this manual, and it is highly recommended you refer tothe user’s guide to thoroughly familiarize yourself with the many featuresof your calculator.The KeysMany keys on the HP12c Financial Calculator perform more than onefunction. The primary function of a key is indicated by the charactersprinted in white on the upper face of the key. The alternate function(s) ofa key are indicated by the characters printed in gold above the key andthe characters printed in blue on the lower face of the key. See Figure 1.Figure 1Getting Started1

Pressing theTo specify the primary function printed on the upperface ofa key, press the key alone.To specify the alternate function printed in gold above akey, press the gold prefix key (T), then press thefunction key.To specify the alternate function printed in blue on thelower face of a key, press the blue prefix key (U), thenpress the function key.T or Uprefix key turns on the corresponding statusindicator — f or g — in the display. After a function key is pressed, theindicator turns off. Note how function keys for bonds, depreciation, andclearing are grouped together under brackets printed above the keys ingold. Unless otherwise indicated, press and release the desired key, orkey combination in order from left to right. You do not need to press andhold the keys as with a computer or typewriter.There are a total of six status indicators that appear along the bottom ofthe display and signify the status of the calculator for certain operations. When applicable, the descriptions below identify when an indicator appears on screen.In this manual, the highlighted portion of the key symbol or symbols represents the active function of the key. Functions above the keys arespelled out and preceded by theT function key.Customizing the CalculatorTable 1-1 lists some of the basic functions available for customizing thecalculator. The pages of the HP 12c Financial Calculator User’s Guide2Getting Started

are included for reference. Refer to these pages of the user’s guide formore information.Table 1-1 Basic FunctionsFunctionsDisplay/DescriptionTurn calculatoron/off(page 16).Turns calculator on. Pressing S again turns thecalculator off. The calculator turns off automatically 8to 17 minutes after it was last used. The low batterysymbol (*) appears when battery power is nearlyexhausted. Refer to the section below titled,Replacing the Batteries for instructions on replacingthe batteries.Number displayformat(page 71).Press and release T followed by a number 0-9 tospecify the number of digits displayed to the right ofthe decimal point. The default setting is two places tothe right of the decimal point.Getting Started3

Table 1-1 Basic FunctionsFunctionsDisplay/DescriptionDigit separator(page 17).1. The default separator is a comma (see above).2. Turn the calculator off first by pressingS.3. Press and hold . and then press and releaseS to change the digit separator from a commato a point.4. Perform the same steps again to change the pointto a comma.Payment mode(page 37).Press Ug to set the payment mode for cash flowproblems. Use Begin mode for payments occurring atthe beginning of the compounding period. Note the“BEGIN” indicator appears.Press Uh for payments occurring at the end ofthe compounding period. End mode is the defaultsetting.4Getting Started

Table 1-1 Basic FunctionsFunctionsCalendarformat. Monthday-year(M.DY) or daymonth-year(D.MY)(pages 29-31,175, and 187).Display/DescriptionPress Uq or Up to set the date format.The default setting is M.DY. The screen above showsDecember 3, 2010 in M.DY format.1. PressUq.2. Key in one or two digits for the month.3. Press.4. Key in two digits for the day.5. Key in four digits for the year.6. Note: at this point, pressing R displays thedate in the selected number display format.1. For day-month-year, press Up. Note the“D.MY” indicator appears (see above).2. Key in one or two digits for the day.3. Press.4. Key in two digits for the month.5. Key in four digits for the year. PressR.Getting Started5

Table 1-1 Basic est (pages39-53, 186).Press VL followed by dates separated by Rto specify the compound interest option for oddperiod calculations of interest (i), Present Value (PV),Payment (PMT), and Future Value (FV). Note the “C”indicator appears. The default setting performscalculations for PV, PMT, and FV using simpleinterest. Press VL again to return to the defaultsetting.Program mode(page 88).Press T P/R to set the calculator to Program mode.When the calculator is in Program mode, functionsare not executed when they are keyed in, but insteadare stored inside the calculator. Note the “PRGM”indicator appears.Press T P/R again to exit Program mode. Seepage 88 of the HP 12c Financial Calculator User’sGuide for more information on programming basics.6Getting Started

Storage Registers and Continuous MemoryNumbers (data) are stored in memories called “registers.” Special registers are used for storing numbers during calculations, the “stack” registers, and the “Last X” register, which is used for storing the last numberin the display before operations are performed in RPN mode. Numbersare stored automatically in these registers. There are also registers inwhich you can manually store data, designated R0 through R9 , R.0through R.9 , and financial registers used for financial calculations. Allthese storage registers make up the calculator’s Continuous memory. Allinformation in the Continuous memory is preserved even while the calculator is turned off. To reset the memory and clear all of the registersand return the calculator’s settings to their defaults, turn the calculatoroff, and while holding downZ, press S. With “Pr Error” dis-played, press any key to return to the default calculator screen.Reverse Polish Notation (RPN) ModeThe following information is a brief overview of how RPN works. Formore detailed information about RPN and how the stack works, refer tothe HP 12c Financial Calculator User’s Guide. In RPN mode, numbersare entered first, separated by pressingkey. PressingR, followed by an operationR is optional after entering a number, if the next keypressed is an operation.Each time you press an operation or function key in RPN, the answer iscalculated immediately and displayed. For example, suppose youwanted to add two numbers in RPN, 1 and 2. Press1R2;.Getting Started7

The result, 3.00, is calculated and displayed immediately.There are four special registers used for storing numbers during calculations, which are stacked on top of one another. Called “the stack,” theseregisters are designated X,Y, Z, and T. X is on the bottom, and T is onthe top. Unless the calculator is in Program mode, the number in the display is the number in the X-register. Primarily, the numbers in the X- andY-registers are the numbers used in calculations. The Z and T registersare used for the automatic retention of intermediate results during chaincalculations.The R key separates numbers in the vertical stack and positions themin the X- and Y-registers, and, in addition to displaying intermediateresults, this vertical arrangement of the stack allows you to copy andrearrange numbers without reentering them. For more complex problems requiring two or more operations, you do not need to enter parentheses to set operational priority. Key in numbers and operations insidethe parentheses first, followed by those outside of the parentheses. If aproblem has more than one set of parentheses, start by working with theoperations and numbers in the innermost parentheses and work out.For example, in RPN mode calculate(3 4) (5 6). SeeTable 1-2. Although this is a simple example, you can use the principlesintroduced here when working with more complex problems.8Getting Started

Table 1-2 RPN ExampleKeysDisplay/Description3R4;Enters numbers and operation from the first set ofparentheses. The sum, 7, is displayed and stored inthe X-register.5R6;Enters the numbers and operation from the secondset of parentheses. The sum, 11, is stored in the Xregister and displayed, and 7 moves up to the Yregister.*Finishes the operation and displays the results.Stores 77 in the X-register.Getting Started9

Keys used to rearrange the stack: Pressing the P key exchanges the numbers in theX-and Y-registers (pages 74 and 172).Pressing the O key performs a roll down of thestack, where each number in the registers is copiedinto the register below, and the number formerly inthe X-register is copied into the T-register (page 172).Pressing Ur recalls the number displayedbefore the previous operation back into thedisplayed X-register. (pages 74 and 176).Keys and FunctionsTable 1-3 lists some of the keys used for basic operations, mathematicalcalculations, and financial problems. Use this table for quick reference.The pages of the HP 12c Financial Calculator User’s Guide are includedfor reference. For a complete list of functions, including the keys used forstatistics and programming, refer to the user’s guide.Table 1-3 Keys and FunctionsKey(s)Description and Page Number in the User’s GuideREnters a copy of number in displayed X-register intoY-register. Used to separate numbers in RPNEnter(pages 19, 171).;*Arithmetic operators (pages 19, 20-22).ZX10Getting Started

Table 1-3 Keys and FunctionsKey(s)FChange signLEnter exponentQDescription and Page Number in the User’s GuideChanges sign of number or exponent displayed inthe X-register (page 17).For very large or very small numbers. Enter themantissa. After pressing, L, the next numberskeyed in are exponents of 10 (page 18).Clears contents of display and X-register to zero.(page 18).ClearTClear statisticsTFINClears statistics registers R1-R6 and stack registers(page 76).Clears contents of financial registers. (page 33).Clear financialTREGClear allregistersClears all storage registers, financial registers, stack(X,Y,Z, and T), and statistics registers. Leavesprogram memory untouched. Not programmable(page 24).Getting Started11

Table 1-3 Keys and FunctionsKey(s)T enceIPercent of total12Description and Page Number in the User’s GuideAfter T, U,key (page 17).V, W, or u, cancels thatPress Vand key in the register number (0-9 forregisters R0 -R9, or . 0-9 for registers R.0 -R.9) tostore displayed number in a specified storageregister. Also used to perform storage registerarithmetic (pages 23-24).To recall a number from a storage register into thedisplay, press W , then key in the register number.This copies the number from the storage register intothe display (page 23).Key in base number. PressR. Key in thepercentage. Press K. Calculates x% of y (page26).Key in the base numbers separated byJ (page 27).R. PressEnter a total amount. Press R. Key in the number,x, whose percentage equivalent you wish to find.Press I. Calculates percent that x is of thenumber in Y-register (page 28).Getting Started

Table 1-3 Keys and FunctionsKey(s)Description and Page Number in the User’s GuideKey in start date and press R. Key in the numberof days from entered date (if date is in the past,Calculates datepress F). Press Uf. Displays date and theand days from aday of the week as a number 1-7 to the right of thestarting datedisplay: 1 is for Monday; 7 is for Sunday (pages29-30).UfKey in the earlier date and press R. Key in thelater date and press Uo. Calculates theNumber of daysnumber of days between two dates in actual days.between twoTo display date based on a 30-day month, pressdatesP after the steps listed above (page 31).UoUjCalculates the square root of the number displayedin the X-register (page 83).Square rootGPower functionUkRaises the number in the Y-register to the power ofthe number in the X-register. Key in a number x.Press R. Key in the exponent, followed by G.(page 85).Calculates the reciprocal of the number displayed inthe X-register (page 83).ReciprocalGetting Started13

Table 1-3 Keys and FunctionsKey(s)U!Description and Page Number in the User’s GuideCalculates factorial of number displayed in the Xregister (page 83).FactorialUkNatural antilogarithm. Raise e to power of thenumber displayed in the X-register (page 83).exUlCalculates natural logarithm (base e) of the numberin the displayed X-register (page 83).LNT RNDRoundRounds mantissa of 10-digit number in X-register tomatch the display (page 83).UnLeaves only the integer portion of the numberdisplayed in the X-register by truncating fractionalInteger function portion. It replaces each digit to the right of thedecimal point by 0. The original number can berecalled by pressing Ur (page 83).UmFractionalfunction14Leaves only the fractional portion of the numberdisplayed in the X-register by truncating the integerportion. It replaces each digit to the left of thedecimal point by 0. The original number can berecalled by pressing Ur(page 84).Getting Started

Table 1-3 Keys and FunctionsKey(s)T INTDescription and Page Number in the User’s GuideCalculates simple interest (page 33).Simple interestAStores or calculates number of compoundingperiods in financial problems (page 35).CompoundingperiodsUaMultiplies a number in displayed X-register by 12and stores the value in the i-register (page 39).BStores or computes interest rate per compoundingperiod (pages 32, 36).Interest rate percompoundingperiodUbDivides number in displayed X-register by 12 andstores the resulting value in the i-register (page 39).CStores or calculates the present (the initial cash flow)value of a financial problem (pages 32, 36).Present valueDPaymentStores or calculates the payment amount.(pages 32, 36).Getting Started15

Table 1-3 Keys and FunctionsKey(s)EDescription and Page Number in the User’s GuideStores or calculates the future value (final cash flow)of a financial problem (pages 32, 36).Future valueT AMORTAmortizationT NPVNet PresentValueT IRRInternal Rate ofReturnUcCash flowUdCash flow16Amortizes x number of periods using values storedin D, B, C, and the display. Updates Cand A (page 54).Calculates the net present value of up to 20 unevencash flows and initial investment using stored valueswith c, d, and e(page 58).Calculates the internal rate of return (yield) for up to20 uneven cash flows and initial investment usingvalues stored in c, d, and e (page 63).Initial cash flow. Stores contents of displayed Xregister in R0, initializes n to zero, sets N0 to 1. Usedat the beginning of a discounted cash flow problem(page 57).Cash flow j. Stores the contents of X-register in R1,increments n by 1, and sets N1 to 1. Used for allcash flows except the initial cash flow in adiscounted cash flow problem (page 59).Getting Started

Table 1-3 Keys and FunctionsKey(s)T SLDepreciationT PRICEBond priceT YTMBond yieldUeCash flowT SOYDDepreciationT DBDepreciationDescription and Page Number in the User’s GuideCalculates depreciation using straight-line method(page 68).Calculates bond price, given desired yield tomaturity (page 67).Calculates yield to maturity, given bond price(page 67).Stores the number of times (from 1 to 99) each cashflow occurs as Nj. Assumes 1 unless otherwisespecified (page 61).Calculates depreciation using the sum-of-the-yearsdigits method (page 68).Calculates depreciation using the declining-balancemethod (page 68).Getting Started17

Basic Financial Calculation ExampleTable 1-4 illustrates how easily you can perform financial calculationsusing the HP 12c Financial Calculator. For more examples and information on financial problems, including cash flows and using cash flowdiagrams, refer to section three of the HP 12c Financial CalculatorUser’s Guide, titled, Basic Financial Functions.Calculate the monthly payment amount on a 30-year loan of125,000.00 with a 6.9% annual interest rate, compounded monthly.Assume payments occur at the end of the compounding period.Table 1-4 Loan Payment ExampleKeysDisplay/DescriptionT FINClears financial registers. Press Q if you want toreturn to the default screen (see above) .UhSets payment mode to End. This step is optionalunless the “Begin” indicator is lit, as End mode isthe default setting.18Getting Started

KeysDisplay/Description6.9UbEnters the annual interest rate in terms of the basiccompounding period (6.9% divided by 12 monthsper year).360AEnters the number of monthly compounding periods(n) for a 30-year loan (12 payments per year x 30).125000CEnters the present value of the loan.0EEnters the future value of the loan after is has beenpaid off (0.00).Getting Started19

KeysDisplay/DescriptionDCalculates monthly payment amount. Note the signis negative; it is money you pay out.Warranty and Contact InformationReplacing the BatteriesThe calculator uses two, 3 Volt CR2032 Lithium batteries. The low battery symbol(*) appears when battery power is nearly exhausted. Use only fresh batterieswhen replacing the battery. Do not use rechargeable batteries. To install a newbattery:1.With the calculator turned off, slide the back cover off.2.Remove only one battery at a time.3.Remove one of the old batteries and replace it with a new battery with thepositive polarity symbol facing outward.4.Remove the other old battery and replace it with a new battery with thepositive polarity symbol facing outward.5.Replace the back cover.Warning! There is danger of explosion if the battery is incorrectly replaced.Replace only with the same or equivalent type recommended by the manufacturer.Dispose of used batteries according to t

Welcome to your HP 12c Financial Calculator This booklet is intended to get you started quickly with the basic features of your 12c Financial Calculator. Use it for quick reference. For more detailed information about the 12c Financial Calculator, refer to the HP 12c Financial Calculator User’s Guide. Pages of the user’s guide are