50 Section 3: Basic Financial FunctionsFile name: hp 12c_user's guide_English_HDPMBF12E44 Page: 50 of 209Printered Date: 2005/7/29 Dimension: 14.8 cm x 21 cmKeystrokes Display2Þ¼ –2.00 Stores i (with minus sign for a“negative interest rate”).32000Þ $ –32,000.00 Stores PV (with minus sign for cashpaid out).M 28,346.96 Property value after 6 years.Odd-Period CalculationsThe cash flow diagrams and examples presented so far have dealt with financialtransactions in which interest begins to accrue at the beginning of the first regularpayment period. However, interest often begins to accrue prior to the beginning ofthe first regular payment period. The period from the date interest begins accruingto the date of the first payment, being not equal to the regular payment periods issometimes referred to as an “odd first period”. For simplicity, in using the hp 12cwe will always regard the first period as equal to the remaining periods, and wewill refer to the period between the date interest begins accruing and thebeginning of the first payment period as simply the “odd period” or the “odddays”. (Note that the odd period is always assumed by the calculator to occurbefore the first full payment period.) The following two cash flow diagramsrepresent transactions including an odd period for payments in advance (Begin)and for payments in arrears (End).
