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Gary --
A quote from Gene's HP-29C program description:
Quote:
This program is not very sophisticated when it comes to solving for the interest rate and can take up to a minute or so to find it. For all but bizarre financial problems, however, it should be OK. Be patient. If you have the HP-34C applications book, you really should use the program in it for TVM: it uses the Solve function for the interest rate.
This is correct, because among the five floating-point variables (N, I, PV, PMT, FV), interest rate "I" is the only one for which cannot be expressed as a closed-form algebraic equation -- numerical iteration is necessary.
The following TVM applications under "Annuities and Compund Amounts" utilize SOLVE, and are quite well-suited to the HP-15C. They can be found in the following manuals:
- HP-15C Advanced Functions Handbook (MoHPC CD #1 or DVD), pp. 26-39.
- HP-34C Applications book (MoHPC CD #4 or DVD), pp. 27-37.
-- KS
Edited: 29 Apr 2006, 10:05 p.m.