Sharp EL-738 User manual

BUSINESS/FINANCIAL
CALCULATOR
OPERATION MANUAL
MODEL
EL-738

1
NOTICE
• SHARP makes no guarantee that this product or this
manual is suitable or accurate for any purpose, com- mercial or otherwise.
• Rules and practices in financial calculation vary ac-
cording to country, locality, or financial institution. It is the consumer’s responsibility to determine whether or not the results produced by this product conform to applicable rules and regulations.
• SHARP will not be liable nor responsible for any incidental
or consequential economic or property damage caused by misuse and/or malfunctions of this product and its peripherals, unless such liability is acknowledged by law.
• The material in this manual is supplied without repre-
sentation or warranty of any kind. SHARP assumes no responsibility and shall have no liability of any kind, con- sequential or otherwise, from the use of this material.
• SHARP assumes no responsibility, directly or indirectly,
for financial losses or claims from third persons resulting from the use of this product and any of its functions, the loss of or alteration of stored data, etc.
• SHARP strongly recommends that separate permanent
written records be kept of all important data. Data may be lost or altered in virtually any electronic memory product under certain circumstances. Therefore, SHARP assumes no responsibility for data lost or otherwise rendered unus- able whether as a result of improper use, repairs, defects, battery replacement, use after the specified battery life has expired, or any other cause. For Australia/New Zealand only: For warranty information please see www.sharp.net.au
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Contents Introduction..................................................................3 Operational Notes ...............................................................3 Key Notations in This Manual..............................................4
Chapter 1: Getting Started..........................................5 Preparing to Use the Calculator..........................................5 Resetting the Calculator In Case of Difficulty......................5 Calculator and Display Layout.............................................6 The SET UP Menu..............................................................8 Operating Modes ..............................................................10 Chapter 2: General Information................................11 Basic Calculations.............................................................11 Clearing the Entry and Memories .....................................11 Editing and Correcting an Entry........................................13 Memory Calculations ........................................................14 Chapter 3: Financial Functions ................................17 General Information ..........................................................17 TVM (Time Value of Money) Solver ..................................22 Amortization Calculations .................................................33 Discounted Cash Flow Analysis........................................37 Bond Calculations .............................................................44 Depreciation Calculations .................................................48 Conversion between APR and EFF ..................................51 Day and Date Calculations................................................52 Percent Change/Compound Interest Calculations ............54 Cost/Sell/Margin/Markup Calculations ..............................56 Breakeven Calculations.....................................................58 Chapter 4: Scientific Functions................................60 Constant Calculations .......................................................60 Chain Calculations ............................................................60 Scientific Calculations .......................................................61 Random Functions............................................................62 Modify Function.................................................................63 Chapter 5: Statistical Functions...............................64 Statistical Calculations and Variables................................67 Appendix ....................................................................72 Financial Calculation Formulas .........................................72 Statistical Calculation Formulas ........................................75 Errors and Calculation Ranges .........................................76 Battery Replacement ........................................................80 Priority Levels in Calculations ...........................................81 Specifications....................................................................82 Index ...........................................................................83
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3 Introduction Thank you for purchasing a SHARP Business/Financial Calcula- tor. After reading this manual, store it in a convenient location for future reference. • Display of examples shown in this manual may not look ex-
actly the same as what is seen on the product. For instance, screen examples will show only the symbols necessary for explanation of each particular calculation.
• All company and/or product names are trademarks and/or
registered trademarks of their respective holders.
Operational Notes • Do not carry the calculator around in your back pocket, as it
may break when you sit down. The display is made of glass and is particularly fragile.
• Keep the calculator away from extreme heat such as on a car
dashboard or near a heater, and avoid exposing it to exces- sively humid or dusty environments.
• Since this product is not waterproof, do not use it or store it
where fluids, for example water, can splash onto it. Raindrops, water spray, juice, coffee, steam, perspiration, etc. will also cause malfunction.
• Clean with a soft, dry cloth. Do not use solvents or a wet cloth. • Do not drop the calculator or apply excessive force. • Never dispose of batteries in a fire. • Keep batteries out of the reach of children. • This product, including accessories, may change due to up-
grading without prior notice.
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Key Notations in This Manual Key operations are described in this manual as follows: To specify log : .h.....................  To specify 1 : 1or 1 .......................  To specify
xy :
iV..................... 
To specify CLR-D: .?.....................  To specify ENT : Q To specify Z : iZ.....................  To specify DATA : J.............................. 
Functions that are printed in orange above the key require
.to be pressed first before the key.
 Number entry examples are shown with ordinary numbers
(i.e., “100” will be indicated instead of “100”).
 To specify a memory function (printed in green on/above the
key), press ifirst.
 Functions that are printed in black adjacent to the keys are
effective in specific modes.
Using the
.and ikeys
Press s.ti
Ax,10.
• .tand iA
mean you have to press . followed by )key and i followed by *key.
Notes: • The multiplication instruction “×” and alphabetic letter “X” are
distinguished as follows:
Key Display Multiplication instruction
x×
Alphabetic letter XX
• Examples in this manual are performed using default settings
(e.g., SET UP menu items) unless values are otherwise as- signed.
πA˚_
-10
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5 Chapter 1 Getting Started Preparing to Use the Calculator Before using your calculator for the first time, you must reset (initialize) it. Resetting the calculator Press the RESET switch located on the back of the calculator with the tip of a ball-point pen or similar object. Do not use an object with a breakable or sharp tip. • After resetting the calculator,
the initial display of the NOR- MAL mode appears.
Resetting the Calculator In Case of Difficulty
Caution: The RESET operation will erase all data stored in memory and restore the calculator’s default setting.
In rare cases, all the keys may cease to function if the calculator is subjected to strong electrical noise or heavy shock during use. If pressing any of the keys (including s) has no effect, reset the calculator.
Resetting the calculator See the above procedure. Note: Pressing .kand 1=will also erase all
data stored in memory and restore the calculator’s default setting.
000
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Calculator and Display Layout Calculator layout
Cursor keys MODE key
Key
operation keys
SET UP
key
Display
screen
Power
ON/OFF and Clear key
Display screen: The calculator display consists of a 12-char-
acter dot matrix character line and a 12-digit 7-segment character line (10-digit mantissa and 2-digit exponent).
Power ON/OFF and Clear key: Turns the calculator ON.
This key also clears the display. To turn off the calculator, press ., then c.
Key operation keys: .: Activates the second function (printed in orange) as-
signed to the following key.
i: Activates the memory (printed in green) assigned to
the following key.
SET UP key: Displays the SET UP menu to select the
display notation, angular unit, depreciation method and date format.
Cursor keys: Move the cursor.
MODE key: Switches between NORMAL and STAT modes.
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7 Display layout
Exponent
Equation/ variable name display
Symbol
Mantissa
• During actual use, not all symbols are displayed at the same
time.
• Only the symbols required for the operation being explained
are shown in the screen examples of this manual.
:
Appears when the entire equation cannot be displayed.
Press g/ yto see the remaining (hidden) part.
/ :
Indicates that variables or data are present above/be-
low the screen. Press z/ ito scroll up/down.
2ndF :
Appears when .is pressed, indicating that the
functions shown in orange are enabled.
HYP :
Indicates that
.]has been pressed and the
hyperbolic functions are enabled.
ALPHA: Indicates that
i, gor fhas been pressed,
and storing or recalling memory values or TVM solv- ers/statistics variables can be performed.
BGN :
Indicates that calculations are annuity due (payment
at the beginning of each interval) calculations. When BGN is not displayed, calculations are ordinary annu- ity (payment at the end of each interval) calculations.
360 :
Indicates that date calculations are based on a
360-day year (12 months with 30 days). When 360 is not displayed, date calculations use the actual calen- dar.
ENT :
Indicates that a value can be assigned to the displayed
variable using Q.
COMP :
Indicates that the displayed variable can be solved for
by using @.
FLOAT A / FLOAT B / TAB / SCI: Indicates the notation used to
display values. It can be changed in the SET UP menu.
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DEG / RAD / GRAD : Indicates which angular units are in use.
It can be changed in the SET UP menu.
: Appears when statistics mode is selected.
M : Indicates that a numerical value is stored in the inde-
pendent memory (M).
: Indicates that the value of the displayed variable has
not been calculated yet (for variables that can be cal- culated).
The SET UP Menu Press ~to display the SET UP menu.
DSP DRG DEPR
02
1
DATE
3

i
• A menu item can be selected by:
• Using
g/ yto select a number (the selected number
will blink), then pressing =, or
• pressing the number key corresponding to the menu item
number.
• If
or is displayed on the screen, press zor ito
view the previous/next part of the menu.
• Press
sto exit the SET UP menu.
Selecting the display notation and number of decimal places The calculator has three display notation systems (fixed decimal point, scientific notation and floating point) for displaying calcu- lation results. • If
~00(TAB) is pressed, “DIG(0-9)?” will be
displayed and the number of decimal places can be set to any value between 0 and 9.
• If
~01(SCI) is pressed, “SIG(0-9)?” will be
displayed and the number of significant digit can be set to any value between 0 and 9. Entering 0 will set a 10-digit display.
• If a floating point number does not fit in the specified range,
the calculator will display the result in scientific notation (expo- nential notation). See the next section for details.
• The default setting is a fixed decimal point with two decimal
places.
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Selecting the floating point number system in scien- tific notation The calculator has two settings for displaying a floating point number: FLO_A (FLOAT A) and FLO_B (FLOAT B). In each display set- ting, a number is automatically displayed in scientific notation outside the following preset ranges: • FLO_A
~02: 0.000000001

| X |

9,999,999,999
• FLO_B
~03: 0.01

| X |

9,999,999,999
Switching the notation setting
Procedure Key operation Display
100000 ÷ 3 =
Fixed decimal point with two decimal places
s100000 83 =
1—————©3=
3333333
Scientific notation
(SCI) with two significant digits
~012
1—————©3=
04
33
Floating point
(FLO_A)
~02
1—————©3=
3333333333
3 ÷ 1000 = Floating point (FLO_A)
s381000 =
3©1———=
0003
Floating point
(FLO_B)
~03
3©1———=
-03
3
Fixed decimal point
with two decimal places
~002
3©1———=
000
Selecting the angular unit (see page 61)
• DEG (°) : ~10(default setting) • RAD (rad): ~11
• GRAD (g) : ~12
Selecting the depreciation method (see page 48)
• SL (Straight-line method): ~20(default setting)
• SYD (Sum-of-the-years’ digits method): ~21 • DB (Declining balance method): ~22
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Selecting the date format (see page 44)
• US (Month-Day-Year): ~30(default setting) • EU (Day-Month-Year): ~31
Operating Modes This calculator has two operating modes, which can be selected using the MODE key. Selecting a mode 1. Press m. The menu display appears. 2. Press 0or =to se-
lect NORMAL mode. • Press 1or y=
to select STAT mode.
Operations available in each mode NORMAL mode:
Allows you to perform financial, arithmetic, or scientific calculations.
STAT (statistics) mode:
Allows you to perform statistical, arithmetic, or scientific calculations. The symbol appears in the display.
NORMAL STAT
01
000
SD LINE QUAD
02
1
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11 Chapter 2 General Information Basic Calculations Entering numbers and arithmetic operations • Use the number keys 0to 9, decimal point key .,
and sign change key ,to enter numbers into the calcula- tor. To clear the display or entry, press s.
• Use the
Skey to enter a value in scientific notation.
• Use the arithmetic keys +-x8to perform the
standard arithmetic calculations of addition, subtraction, multi- plication, and division. Press =to perform each calculation.
• Use the
(and )keys to place parentheses around
inner parts of expressions. The closing parenthesis )just
before =or hmay be omitted.
• When you enter a series of operations in one sequence, the
calculator performs the calculation according to the priority levels in calculation on page 81.
Example Key operation Result
45 + 285 ÷ 3 = s45 +285 83=
14000
18 + 6 = 15 – 8
(18 +6)8 (15 -8=
343
42 ×(–5) + 120 = 42 x,5+120 =
*1(5,)
-9000
(5 ×10
3
) ÷ (4 ×10
–3
) =
5S384S ,3=
125000000
Clearing the Entry and Memories The following methods of clearing the calculator (restoring de- fault settings) are available:
*1
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*1N, I/Y, PV, PMT, and FV (P/Y and C/Y are not included.) *2Note that listed financial variables sharing common memory
with TVM variables, such as “COUPON (PMT)” used in bond calculations, are also cleared or restored to default settings.
*3Listed variables used in financial calculations (such as “RATE
(I/Y),” etc.) including P/Y and C/Y
*4When you press *to enter a financial calculation, AMRT
P1 and AMRT P2 both revert to their default values. The same holds true for YEAR when you press O.
*5With one of the variables of a listed group (such as those
used in bond calculations) displayed, when .bis
pressed, all the variables in the listed group are cleared or restored to their default settings. Note that TVM variables sharing common memory with listed financial variables are also cleared or restored to default settings.
*6Press
.bwhen a cash flow value is displayed.
*7Statistical data (entered data) and variables (n, x, etc.) *8Are cleared when changing between sub-modes in STAT mode.
Notes: • To clear any of the “A-H, M, X-Z” or “ANS” memories, press
sgand then specify the memory.
• To clear or restore to the default setting one variable or value
of TVM variables, listed financial variables, cash flow data, or STAT, re fe r t o the relevant section.
• If you turn off the calculator (by pressing .cor by let-
ting it turn itself off automatically), it will resume wherever you left off when you turn it on again.
Delete key To delete a number/function, move the cursor to the number/ function you wish to delete, then press L. If the cursor is
located at the right end of an equation or if you are entering a value, the Lkey will function as a back space key.
s .b m
(Mode selection)
.k0
(MEM)
RESET switch
×
× ×
.k1
(RESET)
Operation
: Cleared or restored to the default setting : Retained
×
A-H,
M, X-Z
Entry
(display)
ANS
TVM
variables
Listed
financial
variables
Cash
flow
data
× ×
×
× ×
× ×
STAT
× ×
*1*3
*7
*6
*2*5
*8
*4
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13 Memory clear key Press .kto display the menu. • To clear all (A-H, M, X-Z, ANS,
TVM variables, listed financial variables, cash flow data, and STAT), press 00or 0=.
• To RESET the calculator, press 10or 1=.
The RESET operation erases all data stored in memory, and restore the calculator’s default settings.
Editing and Correcting an Entry Cursor keys • In a menu, such as the SET UP menu, use gor yto
select a number (the selected number will blink), then press =. If you need to scroll up or down the screen, use zor i.
• In financial calculations, such as bond calculations, press
ior zto move through the variables (items).
Playback function After obtaining an answer, pressing gbrings you to the end
of the equation and pressing ybrings you to the beginning. Press gor yto move the cursor. Press .gor
.yto jump the cursor to the beginning or end of the equation.
Insert and overwrite modes in the equation display • This calculator has two editing modes: insert mode (default),
and overwrite mode. Pressing .dswitches between the two modes. A triangular cursor indicates an entry will be inserted at the cursor, while the rectangular cursor indicates existing data will be overwritten as you make entries.
• To insert a number in the insert mode, move the cursor to the
place immediately after where you wish to insert, then make the desired entry. In the overwrite mode, data under the cursor will be overwritten by the number you enter.
• This mode setting will be retained until you press .d
or RESET the calculator.
MEM RESET
01
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Changing “15 ÷ 3 =” into “25 ÷ 13 =”
Procedure Key operation Display
15 ÷ 3 = s15 83=
15©3=
500
Enter the playback function.
y
15©3
Switch to overwrite mode.
.d
15©3
Change “15” to “25” and move the cur- sor to “3”.
2yy
25©3
Change to insert mode.
.d
25©3
Change “3” to “13” and calculate.
1=
25©13=
192
Errors An error will occur if an operation exceeds the calculation ranges, or if a mathematically illegal operation is attempted. When an error occurs, pressing gor yautomatically
moves the cursor to the place in the equation/number where the error occurred. Edit the equation/number or press sto clear the equation. For details, see page 76.
Memory Calculations This calculator has 11 temporary memories (A-H and X-Z), one independent memory (M) and one last answer memory (ANS). It also has various variables for use in financial calculations and statistical calculations. Memory use in each mode for memory calculations
NORMAL STAT Mode
: Available : Unavailable
×
M
A-H,
X-Z ANS
TVM
variables
Listed financial
variables
Statistical
variables
× ×
×
×
*1*2*3
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15 *1N, I/Y, PV, PMT, FV *2All financial variables, except for TVM variables *3x, sx, mx, n, Yx, Yx2, y, sy, my, Yy, Yy2, Yxy, r, a, b, c
Temporary memories (A-H, X-Z) Press gand the variable key to store a value in memory. Press fand the variable key to recall a value from the memory.
To place a variable in an equation, press iand the variable key. Independent memory (M) In addition to all the other features of temporary memories, a value can be added to or subtracted from an existing memory value. Press sgMto clear the independent memory (M).
Last answer memory (ANS) • The calculation result obtained by pressing =or any other
calculation ending instruction (including storing and recalling operations) is automatically stored in the last answer memory.
• Listed financial variables are automatically stored in the last
answer memory by displaying the variable and the value.
TVM variables TVM variables can be recalled using fin the same way as
temporary memories. It is not necessary to press gto store a value. Listed financial variables Financial variables are specific to the type of calculation they are used in. For example, the variable N is available to the TVM solver but not to discounted cash flow analysis calculations. If you want to carry a value from a variable over into a different type of calculation, use one of the following methods: •
Last answer memory (ANS): Within the original calculation, dis- play the variable and value that you wish to carry over. The value is automatically entered into last answer memory. Press sto exit the calculation (the listed financial variables will disappear from the screen), and press i/to bring up the value from the previous calculation. M-D-Y (D-M-Y) 1 and M-D-Y (D- M-Y) 2 are not stored in last answer memory.
•
Variables common to both calculations: If the value that you wish to carry over is held in a variable that exists in both types
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16
of calculation (for example, both bond calculations and the TVM solver use the variable I/Y), you can retrieve the value simply by switching calculation types and bringing up the variable.
Statistical variables Statistical data is not entered into variables. Statistical variables are the results of the calculation of statistical data. Therefore, you cannot enter values directly into statistical variables. After calculation, however, you can use the values held in statistical variables in subsequent calculations. Note: Use of
for iwill recall the value stored in
memory using up to 14 digits.
Memory calculations
Example Key operation Result
24 ÷ (8 ×2) = (8 ×2) ×5 =
s8x2gM
24 8iM=
iMx5=
1600
150
8000
$150×3:M1 +)$250:M2=M1+250
–)M2×5%
M
sgM
150 x3h 250 h fMx5.% .jfM
000
45000 25000
3500
66500
$1 = ¥110 ¥26,510 = $? $2,750 = ¥?
110 gY
26510 8fY= 2750 xfY=
11000 24100
30250000
r = 3 cm (rAY) /r2= ?
3gY
.tiY* .;=
300
2827
24 4 + 6 = 2.4...(A) 3 ×(A) + 60 ÷ (A) =
24 8(4+6)=
3xi/+60 8 i/=
240
3220
* Entry of the multiplication procedure is omitted between “/”
and a variable.
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Chapter 3 Financial Functions General Information Financial calculations The following financial functions are available. Use NORMAL mode to perform financial calculations. TVM (Time Value of Money) solver: Analyze equal and regular cash flows. These include calculations for mortgages, loans, leases, savings, annuities and contracts or investments with regular payments. Amortization calculations: Calculate and create amortization schedules using values stored in the TVM solver. Discounted cash flow analysis: Analyze unequal cash flows
and calculate NPV (net present value) and IRR (internal rate of return). Bond calculations: Solve bond prices or yields to maturity with accrued interest. Depreciation calculations: Obtain depreciation base values using three types of calculation methods. Conversion between APR and EFF: Interest rates can be converted between APR (annual, or nominal percentage rate) and EFF (effective interest rate). Day and date calculations: Calculate dates and the number of days between dates. Percent change/Compound interest calculations: Calculate percent change (increase or decrease) and compound interest rates. Cost/Sell/Margin/Markup calculations: Calculate cost, selling price and margin/markup.
Breakeven calculations: Calculate breakeven points (quantity) using fixed costs, variable costs per unit, unit prices, and profit.
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18
Variables used in financial calculations Financial calculations use multiple variables. By entering known values into variables, you can obtain unknown values. Variables used in financial calculations are categorized into the following two types, depending on the entry method. TVM variables: Variables that are used in the TVM solver. These include N, I/Y, PV, PMT and FV. You can store, recall or calculate values directly using the corresponding keys. Listed financial variables: Variables that are organized into lists in different categories. These variables can be accessed using the z/icursor keys in
each calculation. P/Y and C/Y in the TVM solver are of this type of variable.
Variables shared among calculations Financial variables are specific to the type of calculation they are used in. Values are stored in these variables and recalled as required. Some variables are shared (in the memory area) among calculations. If you change the value of a variable in one calculation, the value will change in all the other calculations as well. The following list shows the variables shared between calculations. While calculating, be aware of the values stored in these variables.
TVM
solver
Discounted
cash flow
analysis
Bond
calculations
Depreciation
calculations
Percent change/
Compound inter-
est calculations
Day and date
calculations
N — CPN/Y (N) LIFE (N) PERIODS (N) —
I/Y RATE (I/Y) YIELD (I/Y) DB (I/Y) % (I/Y) —
PV — PRICE (PV) COST (PV) OLD PRC (PV) —
PMT — COUPON
(PMT) ———
FV — REDEMPT
(FV) SALVAGE (FV) NEW PRC (FV) —
——M-D-Y 1
D-M-Y 1 ——
M-D-Y 1 D-M-Y 1
——M-D-Y 2
D-M-Y 2 ——
M-D-Y 2 D-M-Y 2
*The variable names vary according to the data format settings.
*
*
*
*
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19 Basic variable operations TVM variables (N, I/Y, PV, PMT, FV) A. Entering a value Enter a value and then press the corresponding TVM vari-
able key.
Note: You can also enter values into variables using arithmetic
operations. Ex. 100 x12 u
B. Displaying a value Press
fand the corresponding TVM variable key.
C. Executing calculation Press
@and the corresponding TVM variable key.
Listed financial variables A. Entering a value
1. Select the desired financial calculation method by press-
ing the corresponding financial calculation key.
2. Use
z/ito select the variable you wish to enter.
3. Enter the value and press Qwhen the “ENT” symbol
appears.
Note: In step 3, you can also enter values into variables using
arithmetic operations. Ex. 100 x12 Q
B. Displaying a value
1. Use
z/ito show the variable and value.
C. Executing calculation
1. Use
z/ito select the variable you wish to calculate.
2. Press
@when the “COMP” symbol appears.
Note: Pressing .bresets all the variables in the dis-
played listed financial group to the default values. For details, see the relevant sections for each financial calcu- lation.
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