And so that’s a simple example. Entering a value and then hitting the LN, that’s the natural logarithm, computes the natural log of that value. Sorry. In end mode, it assumes those payments, deposits into the account or payments out of the account, are made at the end of each of the next four years or periods. If you want something else in there than what you have, then put it in; put four in, for example, and then press ENTER, and then you can clear the display, and that’s how it’s going to display all the time after that. Now, if you are set to algebraic operations priorities, then it goes 3 plus 5 times 4. So, if you look at the mathematics here, what we’ve got is the present value of some end of period payments. How many different pairs can be made from the letters A, B, and C? Now there’s a plastic one, and then there’s this one called the Professional Edition. So, that’s the beginning-of-the-year payment. So, the first payment would come today, which is the beginning of the first year or first period. So, all we have to do, it functions exactly the same, enter three, take that 2nd function, nPr, and then two, and then equal to display six. But you need to be familiar with it for the exam. Now you can clear all these registers by doing 2nd, and then hitting clear work, which is that second function of the lower left-hand key down there. If you press it three times, you can get X to the 8th. So, if I go second and then hit that PAYMENT key, mine says N, so I’m not going to change it. So, that’s just a handy trick. Now enter the number 1, and press the ENTER key. Now, if you’re familiar with the HP-12c, and you know how to run it, then there’s no reason for you to watch this, and we’re not really worried about you. In terms of functionality, there’s a couple of functions that are on this Professional Edition that aren’t on the other one. So, now we go, well, there’s seven runners, hit that permutations function, and then three, and that’ll tell us how many different groups of three there are in seven items. To change this, press the 2nd key, then press I/Y. Now we need to set up the number of payments per period. Now I’ve got Y there because I don’t know why you’d ever have to change them. In this video, you will learn how to: In this volume of the Schweser Video Library, we’re going to look at the basic functions and setting up your Texas Instruments Business Analyst II Plus calculator. So, here’s an example of how we might use that. Well, if you did it all as a single calculation, you just have to start over. Go think about being rich, okay?” No, they’re not that cold-blooded. Learn how to use the parentheses () and write down as you go. I know most of us haven’t, but I still understand how it works if I do. So, a continuously compounded rate of 5.07% would increase the value of an investment or the value of an asset by 5.2% over the course of a year. And it has little rubber feet on it. Hit the “(” button (located at the left center of the calculator). If it’s in end mode, since that’s the default, there’s no indication of that on the display. When it’s in begin mode, there’s a little BGN that shows up in the upper right-hand corner here and lets you know you’re in begin mode. It makes you think about it too. Page 14 Parentheses Use parentheses to control the order in which the calculator evaluates a numeric expression in division, multiplication, powers, roots, and logarithm calculations. So, these only come up in this context that I know of is with continuously compounded rates of return, which are used in continuous-time mathematics foundation to some of our options pricing and things at Level 2. It’s a little heavier, has a better feel, and the buttons feel cooler when you press them. Option 2. So, if I just put in 3 plus 5, when I hit times, that also does an equal function in chain mode. So, as I said, enter any four of these values, present value and future value must usually have different signs or you’ll get this error message Number 5. So, our examples in the SchweserNotes, although we have some for the HP for specific functions, most of our answers and explanations and examples are based on the Texas Instruments calculator. They take in the present value today and make those coupon payments and maturity payments, so they’d both be negative. If you are new to the financial calculator or a lot of the functions, we really suggest that you get the Texas Instruments calculator. If I go second format, I get my decimal. So, here’s our example. Well, that’s the mathematical e, and e to the x says what power do I have to raise e to, to get this number.