Problem with Interest entry  Printable Version + HP Forums (https://archived.hpcalc.org/museumforum) + Forum: HP Museum Forums (https://archived.hpcalc.org/museumforum/forum1.html) + Forum: Old HP Forum Archives (https://archived.hpcalc.org/museumforum/forum2.html) + Thread: Problem with Interest entry (/thread186294.html) 
Problem with Interest entry  Don Griffith  06152011 HP12C Viewing the manual shows the following when entering interest in a financial calculation. Assume the problem has a interest rate of 13%Nowhere can I see that the 12C automatically converts the % decimal. Am I missing something? Thanks for your answers Re: Problem with Interest entry  Gene Wright  06152011 Hi. The interest rates on the 12c (and most financial calculators) are expressed as you see in the manual, i.e., 13% is 13; 10% is 10. When you divide by 12, you will see 10/12 or 0.8333, etc.
The calculator always does the "divide by 100" when it uses the interest rate.
Re: Problem with Interest entry  Allen  06152011 Gene is right. To put it a different way, the 12C only uses periodic interest rate (no assumption is made about how many payments are made per annum) In contrast, most of the other HP financial calculators accept only an annual interest rate, and a separate entry must be made for how many annual payments occur. Most (like the 10B) will default to 12 P/Y when reset.
Re: Problem with Interest entry  Gene Wright  06162011 True, but even those where you specify the interest rate take interest input as 10 and not 0.10.
:)
