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10bII+

10bII+Financial Calculator

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CHAIN · END · DEG · 12 P/YR · DISP 6

DISP 6
Work internally with the unrounded rate. Only money amounts get rounded.
One-time money
PV, FV, and a single computed amount you will report: half-up to the cent. 8,955.436 → $8,955.44.
Contract PMT
Whatever the stem says — nearest cent, next higher dollar, next $10, or next $100. “Next higher” always goes up.
Re-key PMT
Never leave the raw PMT in the register if it was rounded. Re-enter it before AMORT, OSB, or a VTB present value.
Final payment
On the 10bII+, press N after the rounded PMT, put the original N back, AMORT the last period, then − RCL PMT.

Next-dollar PMT, then OSB
$60,000 loan, j₁₂ = 12%, 20-year amort, 3-year term, monthly. Round PMT up to the next dollar. OSB after payment 36.
OSB₃₆ = $57,372.31
Canadian j₂ → j₁₂, next-dollar PMT
$300,000, j₂ = 6%, 25-year amort, monthly. Convert the rate (do not round I/YR), round PMT up to the next dollar. AMORT period 1.
PMT $1,920 · OSB₁ = $299,561.59
Final payment (10bII+ N step)
Same $300,000 / j₂ = 6% / 25 years / PMT $1,920. Recompute N, put 300 back, AMORT 300, then − RCL PMT.
Final payment = $1,522.50
Next-cent PMT, then OSB
Same $60,000 / j₁₂ = 12% / 20 years / 3-year term, but round PMT up to the next cent. OSB₃₆ is ~$15 different from the next-dollar version.
OSB₃₆ = $57,386.96
PV of lost CCA tax shield
Buy shares vs the building: FMV RE $44.4M, land $3.5M, UCC $27M, d=4%, T=45%, r=15%. Ignore half-year. Original land cost is unused.
PV = $1,316,842.11
Mortgage payment
$250,000 loan, 6.5% for 30 years, monthly, END mode. Solve PMT.
PMT = −1,580.17
Savings future value
$400 a month at 7% for 20 years, BEGIN mode (pay at start).
FV ≈ 208,664
Yield on a note
Buy at $925, 8% coupon ($80/yr), 20 years, redeem at $1,000. Find I/YR.
I/YR ≈ 8.81%
Project IRR
Outlay 40,000; inflows 12,000, 15,000, 18,000, 10,000. Annual IRR.
IRR/YR ≈ 13.45%
Margin from cost & price
Cost $15.00, sell at $22.00. What is the margin?
MAR = 31.82%

How do I set decimal places?: Orange = is DISP. Then press a digit 0–9 (Sauder uses 6). Orange = with nothing typed is floating decimal — do not AMORT in float; the 10bII+ can throw a running error.
How do I actually clear the calculator?: C clears a bad entry or pending + − × ÷, not the TVM registers. Orange C is C ALL — wipe TVM and cash flows at the start of every question. P/YR and DISP stay. Blue C is C MEM, then N / CFj / K to clear that memory only.
Why is my PMT the wrong sign?: Cash out is negative. A loan: +PV (money in), −PMT, FV usually 0. A savings plan: −PMT (deposits), +FV. If PMT comes out positive when you meant a payment, PV or PMT has the wrong sign.
I/YR is not just “the interest rate”: I/YR is the nominal annual rate the TVM keys use, together with P/YR. Canadian j₂ = 6% is not 6 I/YR at 12 P/YR. Convert: 6 NOM%, 2 P/YR, EFF%, 12 P/YR, NOM% — leave that unrounded value in I/YR.
Off by a factor of 12?: P/YR defaults to 12. Set it (digits, orange PMT) at the start of C ALL. Annual problems need 1 P/YR. N is number of periods, not years — or use years then orange N (×P/YR).
AMORT / OSB came out wrong: If the question rounded PMT, re-key that rounded payment with +/− PMT before AMORT. Never amortize the raw −660.65168 if the contract payment is $661. Stay on DISP 6.