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1. Key in the program.
2. Press .
3. Key in the settlement date (MM.DDYYYY) and press 1.
4. Key in the maturity date (MM.DDYYYY) and press 2.
5. Key in the number of days in a year (360 or 365) and press 3.
6. Key in the redemption value per $100 and press 4.
7. To calculate the purchase price:
a. Key in the discount rate and press 5.
b. Press to calculate the purchase price.
c. Press to calculate the yield.
d. For a new case, go to step 3.
8. To calculate the yield when the price is known:
a. Key in the price and press 5.
b. Press 15 to calculate the yield.
c. For a new case, go to step 3.
Example 1: Calculate the price and yield on this U.S. Treasury Bill:
settlement date October 8, 1980; maturity date March 21, 1981; discount
rate 7.80%. Compute on a 360 day basis.
REGISTERS
n: Unused i: Unused
PV: Unused PMT: Unused
FV: Unused
R
0
: Unused
R
1
: Settl. date
R
2
: Mat. date
R
3
: 360 or 360 R
4
: redemp. value
R
5
: dis./price R
6
-R
.5
: Unused
Keystrokes Display
10.081920 1
10.08 Settlement date.