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Hp12c Rounding up
10242018 12:25 PM
10242018 01:46 PM
When solving for N, the 12c will always give an integer answer. There's no method or setting that will change that. Reference the HP12c User's Guide on pages 3940. I've included the text below for you:
Calculating the Number of Payments or Compounding Periods
1. Press [f] CLEAR [FIN] to clear the financial registers.
2. Enter the periodic interest rate, using [i] or [12÷].
3. Enter at least two of the following values:
 Present value, using [PV].
 Payment amount, using [PMT].
 Future value, using [FV].
(Note: Remember to observe the cash flow sign convention.)
4. If a PMT was entered, press g[BEG] or g[END] to set the payment mode.
5. Press [n] to calculate the number of payments or periods.
If the answer calculated is not an integer (that is, there would be nonzero digits to the right of the decimal point), the calculator rounds the answer up to the next higher integer before storing it in the n register and displaying it.* For example, if n were calculated as 318.15, 319.00 would be the displayed answer. n is rounded up by the calculator to show the total number of payments needed: n1 equal, full payments, and one final, smaller payment. The calculator does not automatically adjust the values in the other financial registers to reflect n equal payments; rather, it allows you to choose which, if any, of the values to adjust.
* The calculator will round n down to the next lower integer if the fractional portion of n is less than 0.005.
10242018 03:08 PM
I have no direct knowledge of the exact circumstances that led to this kind of treatment by the original developers of the 12c (I'm just a user of hp calculators like you), but I do understand the basic premise. Recall what "N" represents in the TVM calcuations: the number of periods/payments. In the situation where the formulaic computation of N would result in a noninteger, that means there will be IP(N) equal payments, and a final payment of an amount less than the previous payments. So the total number of payments is indeed the rounded up number, not some theoretical fractional amount.
Regardless of how "correct" that interpretation may be, it has caused confusion for enough people that most (perhaps all?) subsequent financial calculators from HP give fractional N results when solving for N.
It's also true that entering a fractional N as input (as opposed to solving for N) on a 12c has a special meaning (see the owner's manual on page 50 pertaining to OddPeriod Calculations). That may also have been part of the decisionmaking for how N was to be treated on the 12c.
Hope this helps!
David
10242018 07:28 PM
10242018 11:10 PM
10252018 03:51 AM
Hi,
Further to Cyrille's answer and the practicality of the real world:
What bank is going to give a loan with 8.5 repayments? In fact short term loans are likely to be offered in 6 month intervals and house mortgages in 12 month intervals.
Or for an investment, let's say your mathematically correct calculator says it will take 65.5 months to reach your target value, the 12C will probably tell you it's 66 months. Which one is more correct?
The interest on the investment will probably be paid on a monthly basis. So at 65 months you will not have reached your target and at 66 months you will have slightly more than your target. But halfway between month 65 and 66? You will still only have month 65 's value because you are not going to get a partial interest payment halfway through the month. So the 12C is correct that you have to wait at least 66 months to reach the target value (you can then go back and calculate what you actual investment value would be at 66 months).
You say "it surprises me the platinum and the other newer editions (limited, etc) have not corrected this" when in actual fact the 12C approach is the practically correct way. So in my view there is nothing to "correct".
Note that the newer HP10bii+ has gone the way of providing the mathematically correct answer (i.e. fractional periods).
Best regards.
_________________________________________________________
calculator enthusiast
11022018 05:58 PM
I agree with what Cyrille and Bart have said. Nevertheless if you are still intered in getting a fractional N with the HP12c please take a look at the following programs:
HP 12c Calculator  Actuarial Calculations
https://support.hp.com/usen/document/bpia5043
Cheers,
Paul
11032018 05:58 AM  edited 11032018 05:59 AM
Hi!, @Paul0207 :
You can, see ...
https://support.hp.com/usen/document/bpia5185
http://www.tvmcalcs.com/index.php/calculators/hp12c/hp12c_page1 (pages 1 to 3).
Have a nice day !.
@Maké (Technical Advisor Premium  HP Program Top Contributor).
Provost in HP Spanish Public Forum ... https://h30467.www3.hp.com/
11032018 08:17 AM
i thank you for your feedback and help. From what you have answered "correct or not correct"
You say "it surprises me the platinum and the other newer editions (limited, etc) have not corrected this" when in actual fact the 12C approach is the practically correct way. So in my view there is nothing to "correct".
I understand your point, however, i differ and therefore, don't agree with you in terms of whats correct or not correct. I n the end is about precision. Although, it would be difficult and perhaps unrelastic 12.X periods in the end i rather see that number than 13.
I have seen the responses from other people and I see their point of view as well, in the end, if i want the decimals and "12.x" i would go with excel or any other spreadsheet. I am not looking for the interpretation here, thank you.
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