Search All of the Math Forum:

Views expressed in these public forums are not endorsed by NCTM or The Math Forum.

Notice: We are no longer accepting new posts, but the forums will continue to be readable.

Topic: Hewlett Packard 10B business calculator
Replies: 1   Last Post: Jun 24, 1996 3:41 PM

 Messages: [ Previous | Next ]
 bobmill@dove.mtx.net.au Posts: 2 Registered: 12/12/04
Posted: Jun 22, 1996 11:45 PM

Someone has just given me a Hewlett Packard 10B business/financial
calculator.
Being an arithmetical dummy, could some kind person please tell me how
to work out this financial scenario.

An investor makes a short term loan to a factoring company of \$19,300
After 23 days, \$8,500 of the principal and \$185 in interest is
returned to the investor.
After a total of 47 days, the remainder of the principal (\$10,800)
and a further \$292 in interest is returned.

Could you please tell me how to work out:
1. The effective annual % return on the first part of the loan
2. The effective annual % return on the remaining part of the loan.
3. The effective annual % return on the total deal including both
parts.
4. The section in the owner's manual which shows examples of the
above.

With thanks, e-mail replies would be much appreciated.

bobmill@dove.mtx.net.au

Date Subject Author
6/22/96 bobmill@dove.mtx.net.au
6/24/96 Richard S. Kain