Interest Rate Conversions - HP -22S Owner's Manual

Entering the Equation. Press
. !
EQUATIONS
L then [!] (if necessary)
until the HP-22S displays
TYPE HEW EQH.
Type the equation
(.! H-HMS I {~HR}
types
HR
<) and press
!INPUT I.
Example: Calculating the Distance Between Two Places. Find
the statute miles between Philadelphia, Pennsylvania (40 0 35'N,
75°10'W) and Corvallis, Oregon (44°35'N, 123°16'W).
Keys:
@]
. !
MODES
I
{DC}
I EVALI
40.35 !INPUT I
44.35 !INPUT I
75.1 !INPUT I
123.16!INPUTI
Display:
A?value
T?value
O?value
G?value
0=2,426.9794
Interest Rate Conversions
Description:
Sets Degrees mode.
Prompts for
latitudel.
Stores A, prompts for
latitude2·
Stores T; prompts for
longitudel·
Stores 0; prompts for
longitude2·
Calculates statute
miles.
Interest rates are generally stated as
nominal interest rates.
A nominal
interest rate is an annual rate that is compounded
periodically-for
example, 18% per year, compounded monthly (12 times per year).
When investments have different compounding periods,
effective in-
terest rates
are used to compare them. The effective rate is the annual
rate that would produce the same interest earnings as the nominal
rate compounded P times per year. For example, earning 18% annual
rate compounded monthly (nominal rate) is equivalent to earning
19.56% annual interest.
132 8: Additional Examples