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New HP 10BII User’s Primer

The Hewlett Packard 10BII is a very easy to use financial calculator, which will serve you well in all finance courses. This guide gives you step-by-step keystroke solutions to common financial calculations, plus handy examples of most other machine functions and operations. Before we get started, we need to set up the calculator.

Setup 1

The 10BII comes from the factory set to assume monthly compounding, but its better to set it to assume annual compounding and then make manual adjustments when you enter numbers. Why do we need to do this? The compounding assumption is hidden from view and people tend to forget to set it to the correct assumption. Also most accounting and finance textbook problems generally use 1 period / year. So we need to set this to once per year.

_ Turn on the calculator
_ Press 1 (once per year)
_ Then the [Shift] key (yellow) and [P / Yr] (the shift PMT key).

To check that it has taken, press [Shift] and then the [C ALL] key and you should see 1 P_Yr on the screen for about 2 seconds.

Setup 2

Another common issue which sometimes occurs is that the calculator will accidentally get set to "Begin" mode. You will need to have your calculator set to "End" mode. If your calculator does accidentally get shifted into "Begin" mode, the calculator’s display will say BEGIN below the numerals in the display. If it does not read anything, the calculator is in "End" mode.

_ Press the [Shift] key and then the [BEG / END] key to toggle between these 2 modes.

Setup 3

One other important adjustment, by default the calculator displays only two decimal places. This is prefect of most financial calculation. It is probably better to set this to five decimal places.

_ Press the [Shift] key and then the [DISP] key
_ And then the [5], which corresponds to the number of digits you would like to see displayed.

Alternatively, you could set this default to floating decimal mode. In this mode, the calculator will show its internal calculator’s precision, where all the digits after the decimal point is displayed.

_ Press the [Shift] key and then the [DISP] key
_ And the press the [.] key.

Ok, the calculator is ready to go.

Click here to view more HP Calculator On-line Tutorial.

Updated On: 12.10.18

  1. On 03-Dec-2014, Anonymous wrote: 
    Hi, i have just started using this calculator and we are currently covering the annuities portion of our syllabus, i was wondering is anyone found help me out in finding out how to set the calculator, in a way that i can enter P/yr and C/yr separately.

    PS: C/yr and P/yr are not the same, in the exercises we are doing.
    Your reply to Anonymous

  2. On 23-Jul-2014, Leigh wrote: 
    I just opened my HP 10bii+ calculator. I attempted to do the example problem on page 11 of the getting started guide, which should theoretically give me a payment of -122.86 for the keystrokes provided. I double checked this answer on another financial calculator just to make sure I wasn't on drugs. My calculator gave me an answer of -121.84. Any thoughts? If it is making this type of error I can't afford to have it going into a test.
    Your reply to Leigh

  3. On 02-Oct-2013, Luke wrote: 
    I follow the instructions (set it to 1 by pressing 1 then the [Shift] key and [P / Yr] key) but it will not change from the initial setting of 12 payments per year. Is there anything else I can try? I press 1 followed by the red shift key (with the down arrow) followed by the xP/YR key. Any idea why won’t it change to the one payment per year setting?
    Your reply to Luke
    • On 03-Oct-2013, Anonymous replied: 
      Hi Luke. Should be P/YR (top fourth key from the right).
      Your reply to Anonymous

  4. On 10-Mar-2013, Lhi wrote: 
    This was very helpful, I was strugglin with wrong answers my new HP gave...Dankie
    Your reply to Lhi

  5. On 11-Dec-2012, Brandon wrote: 
    My calculator just multiplies the new p/yr by 12. Any way to fix this? Exam today and need as much help ASAP.
    Your reply to Brandon
    • On 12-Dec-2012, Peter Tong replied: 
      set it to 1 by pressing 1 then the [Shift] key and [P / Yr] key.
      Your reply to Peter Tong

  6. On 16-Oct-2012, Kharikhode wrote: 
    hi. i’m experiancing a problem regarding my hp financial calculator,i do not know to set it to gives me correct answers,can you please assit me with such regard, is HP 10bII+. for example PV is 100 and i of 5% then fir one year,it gives me 100.42 rather than 105,please
    Your reply to Kharikhode
    • On 18-Oct-2012, Peter Tong replied: 
      Could be the setting of the number of decimal places. See Setup 3 on this page.
      Your reply to Peter Tong

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