SHARP EL-735S (EL-738) SUMMARY of FUNCTIONS for TEACHERS

SHARP EL-738(735s) SUMMARY OF FUNCTIONS FOR TEACHERS

Hi Everyone,

I have put together a summary of the key sequences for the above calculator which will achieve what we currently teach in both FNSACCT608A (FMP) and FNSACCT609A (FMA).

What was thought was going to be a nice easy transfer for a calculator that supposedly performed the same functions (and then some), has turned out to be a nightmare in the class room. It now takes twice as long to teach the calculator sequence as we have to deal with two entirely separate processes. Hopefully this is just a temporary setback until we, ourselves, become used to the new calculator. An example of this is when using the EL-735 to clear the DCF registers (PV, i, n, FV) you would key; 2ndF, CA. This is still the same process with the EL-738 except the CA key is no longer the red button and for those of us used to the process of ‘orange’ key, ‘red’ key – on the EL-738 you end up turning the calculator OFF! Annoying, but something to get used to.

Having said this, I do think the new calculator has some advantages over the old one – particularly the fact that it has a larger screen and larger buttons (great for those of us with failing eyesight).

TO SET THE DECIMAL POINT (TAB)

The (EL-738) has factory defaults. Two of these defaults are the decimal point (set to [2] two decimal places), and the date format. These can be changed using the SETUP

key.

Note that if you use; 2ndF, M-CLR, 0 , 0 , this will reset the calculator to the factory defaults and any tab or date settings will need to be re-entered.

To set a fixed number of decimal points; SETUP, 0 , 0 , and then select the number of decimal points required between 0 and 9.

Note that the number of decimal points only affects what is shown on the display. Internal calculations still use a mantissa of up to 14 digits. See also the Modify function MDF on page 63. After a calculation, you may observe any number of decimal places by using SETUP , 0 , 0 , and then selecting the number of decimal points required between 0 and 9.

To set a floating decimal point (only used in Scientific mode); SETUP, 0 , 1 , and then select the number of decimal points required between 0 and 9.

TO SET THE DATE FORMAT p.10 & p.52

SETUP, 3 , 1 , for Australian format. Default is the US format.

To enter a date; DATE,dd ,mm, yyyy,ENT

MODE p.10

The default mode is 0 ; Normal/Financial mode.

To enter Statistical mode; MODE , 1 ,and then choose either 0 for single variable or, 1 for Linear (2) variables.

MEMORY p.14

The EL-738 has a number of temporarymemories in addition to the Independent memory M. Refer p.15. The temporary memories are useful for storing numbers somewhere whilst other calculations are being performed.

To store in a temporary memory; (value), STO ,and then select one of the temporary memories A- H , or X- Z.

To recall a temporary memory value; RCL ,and then the memory letter A- Hor X- Z .

The temporary memories retain their contents when the calculator is switched off.

The Independent memory Mcan be added to, M+or subtracted from, 2ndF, M- in the accustomed way. However, there is no RM. This is achieved as above by using, RCL , M+. To clear this memory; ON/C, STO , M+.

TIME VALUE OF MONEY (TVM) p.22

Compound Interest:

The EL-738 now allows for variation between the number of payments per year 2ndF,P/Y ,and the number of compounding periods per year 2ndF, P/Y, ▼. They do not need to be the same. The default is that the number of compounding periods per year is automatically set to the same value as P/Y. This is what we currently do with the EL-735 when we enter adjusted values for n and i (note that the i key on the old calculator is now the I/Y key on the new calculator) and the procedure will not change other than now using the I/Y key.

If you wish to experiment with the new feature:

-ensure the number of payments per year is set first, then set the number of compounding periods per year, then clear the display. For example,

2ndF, CA,2ndF, P/Y, (value),ENT , ▼ , (value), ENT , ON/C

- enter variables and compute missing variable. Note, Interest rate is entered as an Annual rate I/Y .

Refer examples on p.23– p.27 of manual.

AMORTISATION (AMRT) p.33

Enter TVM variables.

Compute PMT if required.

Finding amounts between periods;

AMRT, then P1 payment, ENT , ▼ , then P2 payment, ENT .

▼ = Balance at end of P2 payment.

▼ = Principle reduced at end of P2 payment.

▼ = Interest paid at end of P2 payment.

Finding amount for nth period;

Use the same procedure as above but use the same value for P1 and P2.

DISCOUNTED CASH FLOW ANALYSIS (DCF) p.37

To clear Cash Flow registers;

CFi, 2ndF, CA , ON/C .

To enter data;

Enter Cash Flow amount, DATA .

For repeated Cash Flows, enter Cash Flow amount, (x,y) , enter number of repeated amounts (frequency), DATA .

To correct a value before pressing DATA , press ON/C to delete the value and then enter the correct value.

To confirm data;

CFi, then use ▲or ▼ to display data (amount), then frequency.

To edit data;

Display the data item to modify using ▲or ▼, enter new value, then DATA .

To delete data;

Display the data item to modify using ▲or ▼, then 2ndF, CLR-D .

To insert data;

Display the data item that will come immediately after the new item, then 2ndF, INS-D , enter new amount (and frequency if required), DATA .

NET PRESENT VALUE (NPV) and INTERNAL RATE OF RETURN (IRR) p.40

NPV

Enter Cash Flow data, 2ndF, CASH , enter discount rate, ENT, then ▼ to select NPV, then COMP.

IRR

Repeat for NPV, then ▼ to select Rate (I/Y), then COMP.

CONVERSION BETWEEN ANNUAL PERCENTAGE RATE (APR) AND

EFFECTIVE RATE (EFF) p.51

Enter number of compounding periods per year, (x,y) , (interest rate), then either;

2ndF, →EFF to convert from an Annual % rate to an Effective rate, or

2ndF, →APR to convert from an Effective rate to an Annual % rate,

STATISTICAL FUNCTIONS p.64

To enter STAT mode;

MODE, select , 1 ,and then choose either 0 for single variable or, 1 for Linear (2) variables.

To clear any previous data entered;

2ndF, CA

Single Variable data:

Enter value, then DATA .

To enter multiples of the same value;

Enter value, (x,y) , number of times (frequency), DATA .

Return to “STAT 0” display, press ON/C

_

To compute Mean (x), Standard Deviation (sx) or (σx);

RCL, then the appropriate key ( x, sx, or σx ).

Two Variable data:

Enter ‘x’ value, (x,y) , ‘y’ value, DATA .

To enter multiples of the same value;

Enter ‘x’ value, (x,y) , ‘y’ value, (x,y) , number of times (frequency), DATA .

_ _

To compute (x), (y), (σx), (σy) and (r);

RCL, then the appropriate key ( x, sx, σx, y, sy, σy , or r,).

I hope this helps! If you get stuck, the examples in the manual are fairly straightforward.

If I have left anything out that is relevant to teaching the above Units of Competency, please let me know.

Kind regards,

Andy Medlen

BlacktownCollege of TAFE

More Info from Phil Britton on this below:

You’re probably already aware of the extra hassles involved with the new calculator. If anyone is also teaching 609A EFR, you should remember that the mode for single variable data entry is 1 then 0. However, for paired data, the mode is 1 then 1. Both are necessary when doing Portfolio proof calculations.