Monday, December 13, 2021

Review and Instruction: Senario FC-500 Financial Calculator

Review and Instruction: Senario FC-500 Financial Calculator


Announcement:  Twelve Days of Integrals


In spirit of the Twelve Days of Christmas, I present the Twelve Days of Integrals:  starting December 25, 2021 to January 5, 2022.  I hope everyone has a happy, health, and sane holiday season!


Now on to the review.


Review: Senario FC-500 Financial Calculator






Quick Facts


Model: FC-500

Company: Senario

Years: ??, sometime in the 2010s?

Memory Register:  1 user memory with separate registers

Battery:  Battery, 2 x LR44

Screen:  12 digits

Logic:  Chain


I purchased the Senario FC-500 on eBay for relatively cheap.  The one I purchased did not come with an instruction manual, and I couldn't find one online.   


Through playing with the calculator and research with other financial calculators, the FC-500 models itself after the Hewlett Packard HP 12C.  


What makes this financial calculator a little unique is the wonderful presence of 40 U.S.-metric conversions.   The FC-500 is a feature rich financial calculator.  


I have yet to find instruction on how to change the number of decimal points displayed, if that is even available.  Most financial calculators default to the 2 decimal point setting, and that would be the expected setting.  This would be one of my sticky points for the FC-500, the other would be lack of user memory registers.  


The cash flow convention is followed:  positive for cash inflows (deposits and receipts), negative for cash outflows (payments).  The key with a magnifying glass over a document, which is located on the second row, sixth key (right-most key) is the compute/calculate key.  On this blog I will designate this key as the [(search)] button.


Features


*  Time Value of Money

*  Depreciation (Straight Line, Sum of the Years Digit, Declining Balance)

*  Sell/Cost/Margin (SEL, CST, MGN)

*  Interest Conversion:   Effective vs Nominal (APR)

*  Percent Calculations (%, percent change, % of total)

*  Currency conversions

*  Tax calculation (TAX+ and TAX-) 

*  Days between dates and date calculations (four digit years)

*  Statistics including Linear Regression


The rest will be an instruction sheet for those who are looking for a manual.  For anything I missed, you may want to look at the HP 10BII+ or HP 12C manual and it may fill the rest of the gaps.   Hope this helps.


Operating the FC-500


Time Value of Money (TVM)


PV:  present value

n:  number of payments, ×12

i:  periodic interest rate, ÷12

PMT:  payment

FV:  future value

Magnifying glass, designated as [(search)]:   Solve/CPT

B/E:  Beginning/End Toggle


Cash flow convention is followed


Example:

PV:  0.00

n:  3 years 

i:  3.86% compounded monthly

payment:  $50.00 per month


0 [ PV ]

3 [SHIFT] (×12)

3.86 [SHIFT] (÷12)

50 [+/-] [ PMT ]

[(glass)] [ FV ] returns 1,905.11893693


Amortization Procedure


1.  Enter n, i, PV, and any balloon amount in FV.

2.  Compute PMT.

3.  Enter period 1 to n, second period, press [SHIFT] (AMORT)

4.  Accumulated Interest,  [ X←→Y ], Accumulated Principal

5.  [ RCL ] [ PV ]: remaining balance

6.  [ RCL ] [ n ]: number of payments amortized

7.  To do the next batch, press [ SHIFT ] (AMORT), repeat steps 4 through 6


Example:

Loan:  $189,000.00

I/YR:  4.8% compounded monthly

Years: 20 years of monthly payments

No balloon payment

Amortize the first 2 years of 12 month payments


189000 [ PV ]

20 [SHIFT] [ ×12 ]

4.8 [SHIFT] [ ÷12 ]

0 [ FV ]

[(search)] [ PMT ] returns -1,226.529641804


First 12 Payments

0 [ n ] 12 [SHIFT] (AMORT)

Accumulated Interest:  -8,946.10891465

Accumulated Principal: [ X←→Y ], -5,772.24650183

Balance:  [ RCL ] [ PV ],  183,227.753498


Second 12 Payments

12 [SHIFT] (AMORT)

Accumulated Interest:  -8,662.86358088

Accumulated Principal: [ X←→Y ], -6,055.4918356

Balance:  [ RCL ] [ PV ],  177,172.261662


EFF/NOM conversion


Convert from NOM (APR) to EFF

payments per year [ n ]

nominal rate [ NOM ] 

[(search)] [ EFF ] 


Example:  NOM = 6%, payments per year = 24

24 [ n ]  6 [ NOM ]  [(search)] [ EFF ] returns 6.17570442629


Convert from EFF to NOM (APR)

payments per year [ n ]

nominal rate [ EFF ] 

[(search)] [ NOM ] 


Example:  NOM = 6%, payments per year = 24

24 [ n ]  6 [ EFF ]  [(search)] [ NOM ] returns 5.83397001049


Percent Change

old [ X←→Y ] new [ Δ% ]


Example:   4750 [ X←→Y ] 4200 [ Δ% ] returns -11.5789473684


Days Between Dates

first date [ X←→Y ] second date [SHIFT] (ΔDAYS)


Example:  3.141977 [ X←→Y ] 12.092021 [SHIFT] (ΔDAYS) returns 16,341

(M.DY year mode)

(March 14, 1977  to December 9, 2021)


Percent Total

whole [ X←→Y ] part [ %T ]


Example:  85 [ X←→Y ] 41 [ %T ] returns 48.2352941176


Date Addition

date [ X←→Y ] number of days [SHIFT] (DATE)

Day number:  1:  Monday to 7: Sunday


Example:  Determine the date 90 days from November 15, 2021?  (M.DY year mode)

11.152021 [ X←→Y ] 90 [SHIFT] (DATE) returns 2.132022-7

(Sunday February 13, 2022)


Tax Addition and Subtraction (Sales Tax)


To set the tax rate:  rate [SHIFT] (RATE SET)

To add the tax rate:  [TAX+]:   x∙(1+rate/100)

To subtract the tax rate:  [TAX-]:  x/(1+rate/100)


Example:  Set rate at 9.5%

200 [TAX+] returns 219

150 [TAX-] returns 136.986301369


Unit Conversions 


40 conversions

Use the blue keys:

[ ← ]:  metric to US

[ → ]: US to metric


Statistics - Linear Regression


Date:  x [ X←→Y ] y [ Σ+ ]


Registers used:   (not used for other purposes)

[ RCL ] [ 1 ]: N

[ RCL ] [ 2 ]: Σx

[ RCL ] [ 3 ]: Σx^2

[ RCL ] [ 4 ]: Σy

[ RCL ] [ 5 ]: Σy^2

[ RCL ] [ 6 ]: Σxy


Depreciation


[ n ]:  life of the asset in years

[ PV ]:  cost

[ FV ]:  salvage value, if any

[ i ]:  rate (for declining balance only)


year # [ SHIFT ] ( SL ):  Straight Line Depreciation  (press [ X ←→ Y] for book value)

year # [ SHIFT ] ( SOYD ):  Sum of the Year's Digits Depreciation  (press [ X ←→ Y] for book value)

year # [ SHIFT ] ( SL ):  Declining Balance Depreciation  (press [ X ←→ Y] for book value)


Simple Interest


n:  number of days

i:  annual interest rate

PV:  principal amount

Enter 0 in PMT and FV

Press [SHIFT] (INT) for simple interest


Example:

Calculate the simple interest of a 30-day loan of $1,400.00.  The annual rate is 6.5%.

1400 [ PV ]

30 [ n ]

6.5 [ i ] 

0 [ PMT ], 0 [ FV ]

[SHIFT] (INT) returns -7.583333333333  (360-day year)

[ X ←→ Y] -7.7945205479 (365-day year)


Eddie


All original content copyright, © 2011-2021.  Edward Shore.   Unauthorized use and/or unauthorized distribution for commercial purposes without express and written permission from the author is strictly prohibited.  This blog entry may be distributed for noncommercial purposes, provided that full credit is given to the author. 




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