金融计算器的使用

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Intro Setting up the calculator Memory functions Effective and nominal interest Time Value of Money Capital budgeting Statistics (standard deviation) Linear regression and covariance Probabilities (factorial, combination, permutation) Deprecation
Calculator Guide
Introduction
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Only 2 calculators are allowed in the CFA ® examinations: � Texas Instruments BAII+ and BAII+ Professional � Hewlett Packard 12C and HP12C Platinum
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5 x2 displays 25 5 1/x displays 0.20 5 +/- displays - 5
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Calculator Guide
The
Examples:
x , x , 1 x , and + - keys
Setting up your Calculator
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Main Function key: For example ON/OFF on the top right– turn on and off your calculator 。 Time value of Money Function Keys PV Present Value ，FV Future Value， PMT Periodic Payment，N Number of Periods ， I/Y Interest Rates Sub-Function Key: Press 2ND
2nd DEC = · 9 ENTER
With decimals set to “9” you will always have the maximum accuracy in your answer, and can round it to the number of places that will suit the problem.
Calculator Guide
The
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x , x 2 , 1 x , and + - keys
These keys can be used during any calculation and operate on the number in the display only
� 100 √x displays 10
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Calculator Guide
Exponents yx
Example: calculate 1.755 Enter 1.75 yx 5 = to display 16.4131 Example: calculate (3.54/2.21)1/4 - 1 Enter 3.54 ÷ 2.21 yx 4 1/x = - 1 3.54 ÷ 2.21 yx 0.25 = - 1 to display 0.125 OR
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Calculator Guide
Setting uቤተ መጻሕፍቲ ባይዱ the BAII+
Changing from Chn to AOS Most students prefer to use the calculator in AOS mode however the calculator default is Chn What Does this mean? Perform the following calculation: 3 + 5 x 4 = If your calculator is set to Chain ( “Chn”), the answer will be 32 (= 8 x 4) If your calculator is set to “AOS,” the answer will be 23 (= 3 + 20)
365/90
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There are (at least) 3 ways. 1.01237 yx 365 yx 90 1/x = [1.0511] 1.01237 yx (365 ÷ 90) = [1.0511].
Calculator Guide
Clear the Memory Keys
Even when turned off, the calculator ‘remembers’ entries in CF functions, TVM functions, memory registers, etc.
We recommend the BAII+ Professional as we believe it is easier to use and has more functionality for the exam There is a calculator video tutorial on the Schweser website for those with either Essential or Premium packages
Calculator Guide
Setting up the BAII+
Changing from Chn to AOS
2nd 2nd · ENTER ↓ Keep pressing the ↓ until you see either AOS or Chn Switches from Chn to AOS and visa versa
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Calculator Guide
Introduce your Financial Calculator
TI BA II Plus/ Professional
Calculator Guide
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Calculator Guide
Setting up the BAII+
Changing the decimal points: Most students prefer to use up to 9 decimal points (this will remove the extra zeros from the screen).
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Calculator Guide
Miscellaneous
The arrow “→” removes the last digit entered from the display
2nd ANS displays the previous result after you have begun to enter a new value.
Checking the periods You calculator should be set up for 1 period per year P/Y=1. To check:
2nd I/Y P/Y = 1 1 ENTER If anything other than P/Y = 1 is displayed then:
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Calculator Guide BAII+ Features for the CFA® Exam
Calculator Guide BAII+
Calculator Guide
Contents
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Calculator Guide
Exponents yx
Example: The 90-day holding period return on a T-bill is 1.237%. What is the effective annual yield? We need to calculate 1.01237
Memory Functions
Calculator Guide BAII+
Calculator Guide
Using the Memory Functions
The BA II+ allows you to store up to 10 items in the memory at any one time. This can massively speed up calculations in the exam! To store an item in the memory When you have the number on screen to store it simply press: You can store data on any STO 0-9 numerical button from 0 to 9 To recall an item in the memory Just press RCL and then the RCL 0-9 numerical button you stored the data on
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Calculator Guide
Combining Operations
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Addition, Subtraction, and Multiplication
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Problem: 2 × 3 + 4 = � Just enter 2 × 3 + 4 = , to display 10 Problem: 2 × (3 + 4) = � Just enter 3 + 4 × 2 = , to display 14 Problem: (2 + 3) × (8 - 2) = � Just enter 2 + 3 × (8 - 2) = , to display 30
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Clear CF Function Memory, Enter into the CF Function then press CLR WORK。 Clear BOND Function Memory ， Enter into the BOND Function， then press CLR WORK 。 Clear the data in the MEM function ， Enter into the MEM Function, then press CLR WORK 。 Clear all the data stored ，including all the settings ，directly press RESET，same as “format the disk”。
Calculator Guide
Combining Operations
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Addition, Subtraction, and Division
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Problem: 2 ÷ 3 + 4 = � Just enter 2 ÷ 3 + 4 = , to display 4.6667 Problem: 2 ÷ (3 + 4) = � Just enter 2 ÷ ( 3 + 4 ) = , to display 0.2857 � Or, 3 + 4 = 1/x × 2 = , to display 0.2857 Problem: 2/3 × (8 - 2) = � Just enter 8 - 2 × 2 ÷ 3 = , to display 4 � Or 2 ÷ 3 × ( 8 - 2 ) =