Duration Program for an HP-12C Financial Calculator
For those times when you don’t have access to Excel, the program presented next can be entered into the HP-12C calculator and used to calculate the duration and modified duration of traditional fixed rate bonds. Enter the keystrokes for each step and confirm your progress with the information from the Display column.
|
Step |
Keystrokes |
Display |
|
1 |
[f] [P/R] |
|
|
2 |
[f] [PRGM] |
00- |
|
3 |
[RCL] [FV] |
01- 45 15 |
|
4 |
[STO] 2 |
02- 44 02 |
|
5 |
[RCL] [n] |
03- 45 11 |
|
6 |
[x] |
04- 20 |
|
7 |
[FV] |
05- 15 |
|
8 |
[PV] |
06- 13 |
|
9 |
[RCL] [n] |
07- 45 11 |
|
10 |
[CHS] |
08- 16 |
|
11 |
[RCL] [PMT] |
09- 45 14 |
|
12 |
[X] |
10- 20 |
|
13 |
[FV] |
11- 15 |
|
14 |
[PV] |
12- 13 |
|
15 |
[RCL] [i] |
13- 45 12 |
|
16 |
[/] note: use divide key |
14- 10 |
|
17 |
1 |
15- 1 |
|
18 |
0 |
16- 0 |
|
19 |
0 |
17- 0 |
|
20 |
[STO] 1 |
18- 44 1 |
|
21 |
[x] |
19- 20 |
|
22 |
[+] |
20- 40 |
|
23 |
[RCL] 2 |
21- 45 2 |
|
24 |
FV |
22- 15 |
|
25 |
PV |
23- 13 |
|
26 |
[/] note: use divide key |
24- 10 |
|
27 |
1 |
25- 1 |
|
28 |
[RCL] [i] |
26- 45 12 |
|
29 |
[RCL] 1 |
27- 45 1 |
|
30 |
[/] note: use divide key |
28- 10 |
|
31 |
[+] |
29- 40 |
|
32 |
[/] note: use divide key |
30- 10 |
|
33 |
f [P/R] |