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1. Make sure the HP-12C is in compounding mode. Press STO-EEX repeatedly until a tiny "C" appears in lower right of display.
2. Make sure "BEGIN" is NOT shown in the display. If it is, press g-END.
3. Clear financial registers: f-FIN. (That is really the "f" key then kind of the "Clear FIN" key -- I'm sure you'll see it.)
4. Enter zero as "initial investment". CLx, then g-CF0. (You have to do this because the 12C actually computes the "NPV" as an excess or deficit over the entered "initial investment". By entering zero, you force the calculator to just give you the actual net present value.)
5. Your first cash flow is +2.00. So, enter 2.00, then press g-CFj.
6. Next cash flow: +2.10. Enter 2.1, then press g-CFj.
7. Last cash flow: +22.20 (the final value of the stock plus the last dividend payment). Enter 22.20, then press g-CFj.
8. Enter the 10% interest (a.k.a. discount) rate. Enter 10, then press "i".
9. Compute the NPV. Press g-NPV. The answer is indeed 20.23 (at least to two decimal places).
Your calculator is set to scientific notation. To get out, press f followed by a digit representing the number of digits you want after the decimal point. To have two digits after the decimal point, for example, press f 2.
Begin mode is obtained by pressing [g] and it should then show BEGIN in the bottom line of the display. End mode is obtained by pressing [g]. End mode does not not show an indicator in the display because it is the default mode, so if BEGIN isn't showing, then the calulator is in End mode.
Hello, The presence of the zeros is not a bad thing in itself. It depends on their positions (think of a bank account!) Although I cannot guess why the calculator would display 3 zeros all the time, I will try to help you Fix the number of DECIMAL digits to the standard 2. Press [f] followed by 2. Hope it helps.