Instruction/ maintenance manual of the product EL-738 Sharp
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BUSINESS/FINANCIAL CALCULATOR OPERATION MANUAL MODEL EL-738.
1 NO TICE • SHARP makes no guarantee that this pr oduct or this manual is suitab le or accurate f or an y purpose, com- mer cial or otherwise . • Rules and practices in fi nancial calculation vary ac- cor ding to country , locality , or fi nancial institution.
2 Contents Intr oduction .................................................................. 3 Operational Notes ............................................................... 3 K ey Notations in This Manual ...........................................
3 Introduction Thank y ou f or purchasing a SHARP Business/Financial Calcula- tor . After reading this manual, store it in a con v enient location f or future ref erence . • Displa y of e xamples shown in this manual ma y not look ex- actly the same as what is seen on the product.
4 K e y Notations in This Manual K ey operations are described in this manual as f ollows: T o specify log : . h ..................... T o specify 1 : 1 or 1 ....................... T o specify xy : i V ..................... T o specify CLR-D : .
5 Chapter 1 Getting Started Preparing to Use the Calculator Bef ore using y our calculator f or the fi rst time, y ou m ust reset (initialize) it. Resetting the calculator Press the RESET s witch located on the bac k of the calculator with the tip of a ball-point pen or similar object.
6 Calculator and Displa y La y out Calculator la y out Cursor ke ys MODE ke y K e y operation keys SET UP key Displa y screen Po w e r ON/OFF and Clear ke y Displa y screen.
7 Displa y la y out Exponent Equation/ v ariable name displa y Symbol Mantissa • During actual use, not all symbols are displa y ed at the same time. • Only the symbols required f or the oper ation being e xplained are shown in the screen e xamples of this manual.
8 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 v alue is stored in the inde- pendent memor y (M).
9 Selecting the fl oating point number system in scien- tifi c notation The calculator has two settings f or displaying a fl oating point number : FLO_A (FLO A T A) and FLO_B (FLO A T B). In each display set- ting, a number is automatically displa yed in scientifi c notation outside the f ollo wing preset ranges: • FLO_A ~ 0 2 : 0.
10 Selecting the date f ormat (see page 44) • US (Month-Da y-Y ear): ~ 3 0 (default setting) • EU (Da y-Month-Y ear): ~ 3 1 Operating Modes This calculator has two oper ating modes, which can be selected using the MODE k e y . Selecting a mode 1. Press m .
11 Chapter 2 General Information Basic Calculations Entering number s and arithmetic operations • Use the number k e ys 0 to 9 , decimal point k e y . , and sign change k e y , to enter numbers into the calcula- tor . T o clear the displa y or entr y , press s .
12 * 1 N, I/Y , PV , PMT , and FV (P/Y and C/Y are not included.) * 2 Note that listed fi nancial v ar iables sharing common memor y with TVM variab les, such as “COUPON (PMT)” used in bond calculations, are also cleared or restored to def ault settings.
13 Memory clear ke y Press . k to displa y the menu. • T o clear all (A-H, M, X-Z, ANS, TVM v ariables , listed fi nancial v ariables , cash fl ow data, and ST A T), press 0 0 or 0 = . • T o RESET the calculator , press 1 0 or 1 = . The RESET operation er ases all data stored in memor y , and restore the calculator’ s def ault settings.
14 Changing “15 ÷ 3 =” into “25 ÷ 13 =” Procedure Ke y operation Display 15 ÷ 3 = s 15 8 3 = 15©3= 500 Enter the pla ybac k function. y 15©3 Switch to ov erwrite mode. . d 15©3 Change “15” to “25” and mov e the cur- sor to “3”.
15 * 1 N, I/Y , PV , PMT , FV * 2 All fi nancial v ar iables , e xcept f or TVM variables * 3 x , sx , m x , n , Y x , Y x 2 , y , sy , m y , Y y , Y y 2 , Y xy , r , a , b , c T emporar y memories (A-H, X-Z) Press g and the v ariable k e y to store a v alue in memory .
16 of calculation (f or e xample, both bond calculations and the TVM solv er use the v ariable I/Y), y ou can retrie v e the v alue simply by s witching calculation types and bringing up the v ariable . Statistical v ariables Statistical data is not entered into v ariables .
17 Chapter 3 Financial Functions General Inf ormation Financial calculations The f ollo wing fi nancial functions are a v ailab le . Use NORMAL mode to perf orm fi nancial calculations. TVM (Time V alue of Money) solver: Analyze equal and regular cash fl o ws .
18 V ariables used in fi nancial calculations Financial calculations use multiple v ariab les. By entering known v alues into v ariables , y ou can obtain unkno wn v alues . V ar iables used in fi nancial calculations are categoriz ed into the f ollo wing two types , depending on the entr y method.
19 Basic v ariable operations TVM v ariables (N, I/Y , PV , PMT , FV) A. Entering a value Enter a value and then press the corresponding TVM vari- ab le k ey . Note: Y ou can also enter values into v ariables using arithmetic operations . Ex. 100 x 12 u B.
20 The ENT and COMP symbols Listed fi nancial v ar iables are categorized b y whether the y are known or unkno wn. When the v ariab le is selected (displa y ed), the “ENT” and/or “COMP” symbols will appear to indicate that the current v ariable ma y be entered (known v ariable) and/or calculated (unknown v ar iable), respectiv ely .
21 Compound interest This calculator assumes interest is compounded periodically in fi nancial calculations (compound interest). Compound inter- est accumulates at a predefi ned rate on a periodic basis.
22 TVM (Time V alue of Mone y) Solver Analyze equal and regular cash fl o ws . These include calcula- tions f or mor tgages, loans , leases, sa vings , annuities , and contracts or in v estments with regular pa yments. Note: Discounted cash fl ow analysis can be done using un- equal cash fl o ws (see page 37).
23 3. Enter values into TVM solver v ar iables . • Enter a v alue and press the appropriate TVM variable k e y ( N , f , v , u , T ). • Press . w and then enter a v alue f or P/Y . The same v alue is automatically assigned to C/Y as well. V al- ues entered into P/Y or C/Y must be positiv e .
24 Procedure Key operation Displa y Set all the v ariables to def ault v alues . . b 000 Make sure ordinary annuity is set ( BGN is not displa y ed). Set the number of pa y- ments per year to 12. . w 12 Q P/Y= 1200 The number of compounding periods per year is automatically set to the same v alue as P/Y .
25 Calculating basic loan pa yments Calculate the quar terly payment f or a $56,000 mor tgage loan at 6.5% compounded quar terly dur ing its 20-year amor tization period. I/Y = 6.5% N = 4 × 20 y ears = 80 ...... PV = $56,000 FV = 0 PMT = ? Procedure K e y operation Display Set all the v ariables to def ault v alues .
26 Calculating future v alue Y ou will pa y $200 at the end of each month f or the next three y ears into a sa vings plan that ear ns 6.5% compounded quar- terly . What amount will y ou ha v e at the end of period if you continue with the plan? N = 12 × 3 y ears = 36 .
27 Calculating present v alue Y ou open an account that ear ns 5% compounded annually . If y ou wish to ha v e $10,000 twenty y ears from no w , what amount of mone y should y ou deposit now? FV = $10,000 N = 20 y ears PV = ? I/Y = 5% Procedure Key operation Displa y Set all the v ariables to def ault v alues .
28 Specifying pa yments due ( . " ) This calculator can select ordinar y annuity or annuity due de- pending on the regular cash fl o w (pa yment) conditions. Or dinary annuity (END): This is the def ault setting f or fi nancial calculations. BGN is not displa y ed.
29 Procedure Key operation Displa y Enter the total number of pa yments . s 18 N 18~N 1800 Enter the future v alue. 300000 T 3—————~FV 3 0000000 Set the present v alue to zero . 0 v —~PV 000 Enter the annual inter- est rate . 3.6 f 3 .6~I/Y 3 60 Calculate pa yment.
30 Procedure Key operation Displa y The number of compounding periods per year is automatically set to 12. Press s to e xit the P/Y and C/Y settings. Enter the total number of pa yments . s 24 N 2 4~N 2 4 00 Enter the future v alue. 2995 x 10 . % T ANS~FV 2 99 50 Enter pa yment.
31 4 Procedure Key operation Displa y Set all the v ariables to def ault v alues . . b 000 Set to annuity due ( BGN is displa y ed). . " 000 Set the number of pa y- ments per year to 12. . w 12 Q P/Y= 1200 The number of compounding periods per year is automatically set to 12.
32 Procedure Key operation Displa y Set all the v ariables to def ault v alues . . b 000 Make sure ordinary annuity is set ( BGN is not displa y ed). Set the number of pa y- ments per year to 12. . w 12 Q P/Y= 1200 The number of compounding periods per year is automatically set to 12.
33 AMRT P 1= 1 00 Amor tization Calculations Calculate and create amor tization schedules using v alues stored in the TVM solver . Note: Prior to using amor tization, you need to enter v alues into TVM v ariables .
34 8. Press i to calculate the ne xt period of the amor tization schedule. 9. Repeat steps 5 to 7 abov e . • If y ou press @ during “AMR T P1” and “AMR T P2” entr y , the v alues f or the ne xt per iod of pa yment will be automatically calculated and displa y ed.
35 Procedure Key operation Displa y Displa y the principal paid. i ÍP R INCIPAL= -104852 Displa y the interest paid. i ÍINTEREST= -203428 3. Calculate the amor tization schedule for the second y ear . Procedure Key operation Displa y Change amor tization schedule to the second year and enter 6 (J an u- ar y) f or the star ting pa yment.
36 Calculating pa yments, interest, and loan bal- ance after a specifi ed pa yment Y ou ha v e tak en out a 30-y ear loan f or $500,000, with an ann ual interest rate of 8.
37 Discounted Cash Flo w Anal ysis Analyze unequal cash fl o ws and calculate the net present v alue (NPV) and the inter nal rate of retur n (IRR). Note: Use the TVM solv er f or equal and regular cash fl o w analysis (see page 22).
38 Procedure Key operation Displa y Bring up the initial dis- pla y in NORMAL mode . s 000 Enter cash fl o w data. , 25000 J DATA S ET:CF 000 7000 J DATA S ET:CF 100 9000 J DATA S ET:CF 200 5000 > 2 J DATA S ET:CF 300 8000 J DATA S ET:CF 400 If there is cash fl o w data stored, press > .
39 • Press . z or . i to jump to the fi rst or the last data item, respectiv ely . • Each data item is displa y ed in the f or m CF D n = (cash fl o w v alue) or CF N n = (frequency), where n indicates the data set number . Editing data • Displa y the data item y ou wish to modify b y using z / i , enter a ne w v alue and press J .
40 Procedure Key operation Displa y Change the fi rst cash fl ow v alue from –25,000 to –30,000. , 30000 J CF D—= -3000000 Change the frequency of 5000 from 2 to 1. i i i i i i i 1 J CF N3= 100 Add a new data set (6000) immediately bef ore 5000.
41 2. Enter cash fl o w data. • Ref er to page 37 f or instr uctions on enter ing cash fl ow data. 3. Press . < to begin discounted cash fl o w analysis. • If a pre viously entered cash fl o w v alue is displa y ed, press s to e xit and then press .
42 Procedure Key operation Displa y Enter cash fl o w data. , 12000 J DATA SET:CF 000 3000 J DATA SET:CF 100 5000 > 3 J DATA SET:CF 200 4000 J DATA SET:CF 300 Retur n to the initial dis- pla y in NORMAL mode . s 000 If there is cash fl o w data stored, press > .
43 $80,000 $80,000 $80,000 $80,000 $80,000 –$20,000 –$50,000 –$50,000 –$100,000 –$50,000 1. Enter the cash fl o w data. Procedure Key operation Displa y Bring up the initial dis- pla y in NORMAL mode .
44 Bond Calculations Using bond calculations, y ou can obtain bond prices, yields to maturity , and accr ued interest. V ariables used in bond calculations V ariable Description Default value COUPON (.
45 Basic operations Ref er to page 19 f or basic variable oper ations. 1. Press s to clear the displa y . • Mak e sure the calculator is in NORMAL mode. 2. Select bond calculations by pressing # . • T o end bond calculations, press s . • If you press s during entr y , any entered v alues will be cleared.
46 Calculating bond price and accrued interest A $100, 20-y ear , 6.5% coupon bond is issued to mature on A ugust 15, 2023. It was sold on No v ember 3, 2006 to yield the purchaser 7.2% compounded semiannually until maturity . At what price did the bond sell? Also calculate the accr ued coupon interest.
47 Procedure Key operation Displa y Change the bond price to $92.50. # i i i i i i 92.5 Q PRI C E(PV)= 9 25 0 Calculate the yield. z @ YIELD(I/Y)= 728 Answer: The yield will be 7.28%. Entering dates Ref er to the f ollowing notes f or date entr y . • Enter using US date f ormat (MM-DD-YYYY) or EU date for- mat (DD-MM-YYYY).
48 Depreciation Calculations Using depreciation calculations, y ou can obtain depreciation base v alues using three types of calculation methods: the straight-line method, the sum-of-the-y ears’ digits method, and the declining balance method.
49 2. Select the depreciation method (see page 48). 3. Select depreciation calculations b y pressing O . • When using the declining balance method, DB (I/Y) ap- pears. Enter the number and press Q . • T o end depreciation calculations, press s . If you press s during entr y , any entered v alues will be cleared.
50 Calculating straight-line depreciation In April, your compan y begins depreciation of a commercial b uilding with a 30-y ear lif e and no salv age v alue. The building costs $1,500,000. Calculate the depreciation amount, remaining book v alue and remaining depreciab le v alue f or the third year using the straight-line depreciation method.
51 Con ver sion between APR and EFF Interest rates can be con v er ted between APR (annual, or nomi- nal percentage rate) and EFF (eff ective interest rate). • The APR is an in v estment’ s annual rate of interest when com- pounding happens only once a y ear .
52 Da y and Date Calculations Using da y and date calculations , y ou can fi nd dates and the numbers of da ys between dates. V ariables used in da y and date calculations V ariable Description Defau.
53 Calculating number of da ys Calculate the number of da ys between December 25, 2008 and A ugust 10, 2009 (using US date f or mat and the actual calen- dar). Procedure Key operation Displa y Bring up the initial dis- pla y in NORMAL mode . s 000 Select da y and date calculations, and set all the v ariables to def ault v alues.
54 Procedure Key operation Displa y Mov e to the last date and calculate. z @ M-D-Y 2=[MO] 2-21-2011 Answer: The last date is Februar y 21, 2011. P ercent Change/Compound Interest Cal- culations Using.
55 Calculating per cent change Sales in a company w ere $75,000 during the fi rst y ear of opera- tion. The second y ear’ s sales were $116,000. What percentage greater w ere the second y ear’ s sales than fi rst y ear’ s sales? In this calculation, the number of compound periods is set to 1 (def ault).
56 Procedure Key operation Displa y Enter the new v alue. i 9800 Q NE W PRC( FV ) = 98 0000 Set the number of com- pound periods to 18. i i 18 Q P E R IODS ( N ) = 18 00 Calculate the com- pound interest rate . z @ % ( I/Y ) = 113 Answer: The compound interest r ate is 1.
57 3. Enter the values of an y tw o known v ar iables as f ollows: Unknown v ariab le Known v ariab les COST SELL, and MARGIN or MARK UP SELL COST , and MARGIN or MARK UP MARGIN COST and SELL MARK UP .
58 Breake ven Calculations Using break e v en calculations , y ou can calculate fi x ed cost, v ar i- ab le cost per unit, unit price, profi t and quantity .
59 Procedure Key operation Displa y Select breake ven calculations, and set all the v ariables to def ault v alues. $ . b FIXED= 000 Enter fi x ed cost. 15000 Q FIXED= 15 00000 Enter v ariable cost per unit. i 75.80 Q VA R IABLE= 758 0 Enter unit price.
60 Chapter 4 Scienti c Functions This calculator has a v ariety of functions. Press m 0 to select NORMAL mode and perf orm scientifi c calculations.
61 Scientifi c Calculations Example Ke y operation Display sin 60 [°] = s . { 60 = sin60= 087 cos — [rad] = ~ 1 1 . c ( . t 8 4 ) = cos(π©4)= 071 tan –1 1 [g] = ~ 1 2 .
62 Example Ke y operation Result 4! = 4 . o = 24 00 10 P 3 = 10 . q 3 = 7 2 000 5 C 2 = 5 . p 2 = 1 000 What is 25% of 500? 500 x 25 . % 12 500 What percentage of 400 is 120? 120 8 400 . % 3 000 500 + (500 × 25%) = 500 + 25 . % 6 2 500 400 – (400 × 30%) = 400 - 30 .
63 Random integer An integer between 0 and 99 can be gener ated randomly b y pressing . | 3 = . T o generate fur ther random numbers in succession, press = f or each number . Press s to e xit. Example Ke y operation Display Pick a r andom number between z ero and 9.
64 Chapter 5 Statistical Functions Statistical calculations can be perf ormed in ST A T mode. The symbol will be visib le if y ou are in ST A T mode. There are se v en sub-modes within ST A T mode, co.
65 • Y ou can enter a total of up to 100 statistical and/or cash fl ow data items. F or single-v ariable data, a data set without a frequency is counted as one data item, and a data set with an assigned frequency is counted as two data items .
66 Confi rming and editing data • Use z / i to displa y a data item from a pre viously entered data set. • Press . z or . i to jump to the fi rst or last data item, respectiv ely .
67 Editing statistical data Change the pre viously entered data from page 65 as f ollows: Procedure Key operation Displa y Displa y the statistical data. i X1= 3000 Change the “40, 2” data set to “45, 3”. i i 45 J i 3 J FRQ2= 300 Delete “50”.
68 The estimate of y f or a giv en x (estimate y ´) and the estimate of x f or a giv en y (estimate x ´) can also be f ound. When there are two x v alues , the COMP symbol will appear .
69 Single-v ariable statistical calculation Example K e y operation Result m 1 0 . b Stat — 000 95 95 J DATA SET= 100 80 80 J DATA SET= 200 80 J DATA SET= 300 75 75 75 75 > 3 J DATA SET= 400 50 5.
70 Linear regression calculation Example Key operation Result xy m 1 1 Stat 1 000 25 2 > 5 J DATA SET= 100 25 J DATA SET= 200 12 24 12 > 24 J DATA SET= 300 21 21 21 40 40 40 21 > 40 > 3 J DATA SET= 400 15 25 15 > 25 J DATA SET= 500 a = f a 105 a = b = f b 183 b = r = f r 100 r = sx = f 4 854 Sx = sy = f 5 1567 Sy = x = 3 y´ = ? 3 .
71 Quadratic regression calculation Example K ey operation Result xy m 1 2 Stat 2 000 12 41 12 > 41 J DATA SET= 100 81 3 8 > 13 J DATA SET= 200 52 5 > 2 J DATA SET= 300 23 200 23 > 200 J DATA SET= 400 15 71 15 > 71 J DATA SET= 500 a = f a 536 a = b = f b -312 b = c = f a 050 c = x = 10 y´ = ? 10 .
72 Appendix Financial Calculation Form ulas TVM solver PMT , PV , FV , N Err or I/Y If PMT = 0 then If N = 1 then If PMT 0 or N 1 then nd i using the fol- lowing equations: + Err or i .
73 Bond calculations In its bond calculations, this calculator conf or ms to r ules set up by the book titled Standard Securities Calculation Methods , by J an Ma yle , Securities Industr y Association, 1993. Bond calculation is based on the f ollo wing rules: 1.
74 Depreciation calculations ROUND(NUM): If a display notation tab setting has been chosen, NUM is r ounded and truncated to the speci ed number of places after the decimal point. In the following equations, M01 = ST ART MONTH, LIF = LIFE(N), CST = COST(PV), SAL = SAL V AGE(FV), and DB = DB(I/Y).
75 30/360 1. Adjust D1 and D2 accor ding to the fol- lowing rules: (1) If D2 and D1 ar e both the last day of February , change D2 to 30. (2) If D1 is the last day of February , change D1 to 30. (3) If D2 is 31 and D1 is 30 or 31, change D2 to 30. (4) If D1 is 31, change D1 to 30.
76 Err or s and Calculation Ranges Err ors An error will occur if an operation e xceeds the calculation rang- es, or if a mathematically illegal oper ation is attempted. When an error occurs, pressing g or y automatically mo v es the cursor bac k to the place in the equation where the error oc- curred.
77 Equation too long (Err or 4): • The equation e xceeded its maxim um input buff er (160 charac- ters). An equation must be shor ter than 160 characters.
78 Calculation ranges of functions • Within the r anges specifi ed, this calculator is accurate to within ±1 of the least signifi cant digit of the mantissa. How e v er , a calculation error increases in continuous calculations due to accum ulation of each calculation error .
79 Function Calculation range x y • y > 0: –10 100 < 1 — x log y < 100 ( x 0) • y = 0: 0 < x < 10 100 • y < 0: x = 2n – 1 (0 < | x | < 1: 1 — x = n, x 0),* –10 100 < 1 — x log | y | < 100 e x –10 100 < x 230.
80 Battery Replacement Notes on battery replacement Improper handling of batter y can cause electrolyte leakage or e xplosion. Be sure to obser ve the f ollowing handling rules: • Mak e sure the ne w batter y is the correct type. • When installing, orient the batter y correctly , as indicated in the calculator .
81 Replacement pr ocedure 1. T ur n the power off b y pressing . c . 2. Loosen the screw and remo v e the batter y cov er . (see fi g. 1) 3. Remov e the used batter y using a ball-point pen or similar object. Do not use a mechani- cal pencil or any sharp or pointed object to remov e the batter y .
82 Ke y operation and calculation priority 5 + 2 x . { 30 + 25 x 5 . @ 3 = • P arenthesized operations tak e precedence o v er other oper ations . Specifi cations Calculations: Financial calculations General arithmetic calculations Scientifi c calculations Statistical calculations Calculation method: D .
83 Inde x > , 37, 51, 64 + - x 8 , 4, 11 = , 11, 15 , , 11, 37, 61 ( ) , 11, 16, 61 < , 23 } : , 60, 61 % , 16, 62 B , 54 z i g y , 6, 13 ! P , 51 .
84 Discounted cash flow analysis , 17, 18, 37–43, 72 Displa y la y out, 7 Displa y notation, 8 EFF , 17, 51, 74 ENT (symbol), 7, 20 Entering dates, 47 Entering numbers, 11 Error , 14, 76–78 EXP , .
85 MEMO Appendix.indd 85 06.7.10 8:42:24 PM.
86 F or USA only: This product contains a CR Coin Lithium Batter y which contains P erchlorate Material – special handling ma y apply , Calif ornia residents, See www .
PRINTED IN CHINA / IMPRIMÉ EN CHINE / IMPRESO EN CHINA 06GGK (TINSE1258EHZZ).
An important point after buying a device Sharp EL-738 (or even before the purchase) is to read its user manual. We should do this for several simple reasons:
If you have not bought Sharp EL-738 yet, this is a good time to familiarize yourself with the basic data on the product. First of all view first pages of the manual, you can find above. You should find there the most important technical data Sharp EL-738 - thus you can check whether the hardware meets your expectations. When delving into next pages of the user manual, Sharp EL-738 you will learn all the available features of the product, as well as information on its operation. The information that you get Sharp EL-738 will certainly help you make a decision on the purchase.
If you already are a holder of Sharp EL-738, but have not read the manual yet, you should do it for the reasons described above. You will learn then if you properly used the available features, and whether you have not made any mistakes, which can shorten the lifetime Sharp EL-738.
However, one of the most important roles played by the user manual is to help in solving problems with Sharp EL-738. Almost always you will find there Troubleshooting, which are the most frequently occurring failures and malfunctions of the device Sharp EL-738 along with tips on how to solve them. Even if you fail to solve the problem, the manual will show you a further procedure – contact to the customer service center or the nearest service center
