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ISBN 966-364-247-5
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C ?!%&! $/! FM %#K#I "$!F#E#, #*, "F '"!E,! >#?# &!%!/@$ (@' !E!",M C,!FD#-#"', #*, K,BE!F&'%D/#E# #KF$/,). ! >!$A >!'F$ $/! # "# $/! '"!E,! '/$'!@$ Balance /F/!M "$!F#E#, >#@'",, %/#I. !KF@ &!%!/@$A *!M #"/,!& &!%!/@$ #"/#* B ,#"' C,!F; x All Transactions — $"#K!C!& %$ &!%!/@$ ('C* $"#K!C' %$B); x Unreconciled Transactions — $"#K!C!& FQ' &$ &!%!/@$, /$ N' ' >$"&'"C'$ >%/#I ('C* $FD&!@$); x Top Line Only — $"#K!C!& FQ' 'B$ "/ &!%!/@$A < #%#* B >!!*'&!* (#"#"/#A 'C*); x All Transaction Details — $"#K!C!& %$ >!!*'& &!%!/@$A; , @D#*, 'C*$ /#C! &!%!/@$ #%$K #K#& < C,!F#* &!%!/@$A. 3.2. ') ' !/'& MS Money >#>#,M &!/$ #>'!@$ < &!%!/@$*: x ,'"' &!%!/@$ ,?, < /F!$!&,; x E''!@$ &!%!/@$ #&& >'$#"?# &!%!/@$ #<EF"!M&D% "!F$); x '"!E,! !$Q' '"'B &!%!/@$A; x >'''%' &!%!/@$A < #"#E# C,!F, $QA; x 'Q#*, $FD#*, "/, &!KF@$ &!%!/@$A. #*' ## &!%!/@$ >!/'& !*!E!M&D% %#*,!& < #*'! >#>''"D# "#"!!* "# D#E# #"@$; /N# C @'A #*' '?%F#A, >#IM A#E# '!/'& 'M%&,M %D#E#"$QD#I "!I, !F' /#%&,!? *#C' #$"# "# %,&$ &!%!/@$. #%&,!? *#C' K!& /#&!E'&! %/,, #F' !#F. /N# >%!& @' >#F' !#*!E!I? /#%&,!?'$ >!FD# %&#&. >#F$, #!! $" /!&'E#$, *#C! ,?& K!, /!&'E#$I &!/ $"/!&'E#$MI. !/* ?#*, %&,/&,! /!&'E#$A M "#$'#I. @D#*, >#F$ *#C! '%& $ #, >$"/!&'E#$I "F K!# /!&'E#$. $%F !/'& /#,M &!/$ "$: x >''#"&D &!KF?A /,%# ! !%&,>A "#/; x #'"%&!FM "'/$FD/! >#%&B; x Paycheck — E''!@$ %/F!"# &!%!/@$ "F 'M%&!@$ F!&, /! >''"K!?!M %>F!&, >#"!&/$, !!B,!D &! ,&*!D; x Loan Payment — E''!@$ %/F!"# &!%!/@$ "F 'M%&!@$ /'"&B >F!&'C$ < ##'' /'"&, $ %>F!&, >#@'&$; x Buy Investment — E''!@$ %>'@$!FD# &!%!/@$ "F 'M%&!@$ #>'!@$ < @$* >!>'!*, /! *!M " "#"!&/#B >!!*'&$. /N# &!%!/@$ M &!%'#*, >#F$ >$"/!&'E#$ "F ' >#&$K# #",I?#E# !B,/, !*!&?# %&#IM&D% /#'%>#",I?A &!%' — < &* %!** '/$*/#* E#Q##E# >#/,. F >''B#", "# /#'%>#",I?#E# &!%', *#C! %/#%&!&% /#*!"#I Goto Account… < *'I Edit ? < /#&'/%&#E# *'I >!/'&! (*'I >!# /F!$Q$ *Q$). &!"!&! &!%!/@$, ! $"*$, $" &!%',, #>%,M ,B /#Q&$ *$C !B,/#* &! /!&'E#$MI, K
. .
F '"!E,! !$Q' %&#'# &!%!/@$ >#&$K# "$?$ !&%,& ! ' *Q'I (!K# /F!$Q!* >$"'%& "# ' &!KF?A /,%# $ !&%,& ! /F!$Q, Enter), '%& '#KB$"$ '''%' >#?# &!%!/@$ $QA C,!F *#C! %/#%&!&% /#*!"#I Move to Account… < *'I Edit ? < /#&'/%&#E# *'I, K!& %/, K!C!A !B,#/ $ !&%,& ! "$!F#E#, /F!$Q, /:. RN' >#?# &!%!/@$ #?# &!%!/@$ !>#@'* Mark As o Void < *'I Edit !K# /#&'/%&#E# *'I. !/! #>'!@$ >''&#IM &!%!/@$I ! /#*'&!: #! '!@$ %,! >''" #>'!@$MI #"!#E# !,. #!, &!%!/@$I *#C! >#',& "# >#>''"D#E# %&!,, #>,%/!I? >!>#'@D Mark As o Void. 3.3. & $ #C! &!%!/@$ (#/$* %#!B) #K!?&, / >#!/'&$. !/'& >#>#,M %>'@$!FD, >#@'",, &!/#E# '"%&!FM /F!$Q! Balance…, #!$A >!'F$ C,!F, !B,/,.
35
R$ !B,/, %/ < !B,/, (Account Statement). #@'% #@'&, /A !!B#!A ! %#/ >F!&'C$. !&%'$ ! /F!$Q, Balance… !/&$'Q' "$!F#E#' $/# #>%,M >#@'% ''"K!?'$ >#F "F /!&'E#$ &! >$"/!&'E#$ >F!& #@'&!. / "# < %. 3.2, >!/'& %!* #?!&/#A K!F!% !B,/, / '#>''"D#E# %/ "'/$FD/! %,*, K!& /!&'E#$ &!& &! "#B#"$ $ !&%,& ! /F!$Q, Next.
%. 3.2. ,E' "$!F#E#' $/# /#%&,/! K!F!%, 36
. .
#%&,/ K!F!%, >#>#,M /#%&,!?'$ C,!F !B,/, #"#"/##*, EF"$ (Top Line Only) &! < $FD&!@$MI FQ' '!$A >!'F$ C,!F, $"#K!C!I&D% >$"%,*/ %%. 3.3. $"%,*/ F!&$ F!&$C), /N# # K,F '%'$ /#%&,!?'* , #*, >%/ < !B,/,. $ %,* &!/#C ,C' !B#!$ K!/#* , /$@'#*, K!F!%$. /N# /#%&,!?, ' "!M&D% >A& "# ,FD## $#%#K#* $"''EF"#* $ '"!E,!* &!%!/@$A.
37
$%F E# / /#%&,!? "#K’M&D% ,FD## $%/#I). 3.4. ') ,?! 'M%&!@$ >F!&'C$, #?'"#, M ,&#I $ %/F!"#I K,BE!F&'%D/#I >!@'I. R ",E#E# K#/,, K$FDQ$%&D &!%!/@$A M 'E,F*, K >#II&D% >'$#"?# < K$FDQ$%&I $"'&?B >!!*'&$. !>/F!", &>## N#&C >F!?,M&D% F!&!, N#*$%@ %>F!?,I&D% >#@'&, N#/!&!F, >F!?,I&D% "$"'", N#*$%@ #>F!?,I&D% !B,/ #%F,E N#. #*, F#E$?# K,F# K E##& ># B >'$#"?' >#', /#>$I!, E''!@$I.
"!/ !*!&?! E''!@$ %$B >'$#"?B >F!&'C$ , C,!F!B K,F! K '#K",*!* /#/#*, #%/$FD/ ?!% >#"F! K "# '>F!%>#*#C#%&$ #%#K. G$!%#A *''"C*'&, / $"#*#, >''"K!?!M '&'FD' >F!,! E#Q#B >#/$, , *, ?%F$ >#%F$"##%&$ >F!&'C$, /! K ' >!/'&!B >'%#!FD#E# $!%##E# *''"C*'&, "F >F!,! >#%F$"##%&$ >F!&'C$ >#>#,M&D% *'B!$'$#"?B &!%!/@$A (Recurring Transactions). >!/'&$ MS Money @'A *'B!$F!&'C$ < *$%?* /!F'"!'* ! >!$A >!'F$ (%. 3.4) $ "$!E!*#I %&!, !B,/$ — ! C$A. $" $/#* >F!&'C$ #! FQ' #"! — New, >'$#"?# &!%!/@$. !&%,Q ! @I /F!$Q,, /#%&,!? /F/!M /#%&,/ >'$#"?# &!%!/@$. 'Q' "$!F#E#' $/# @D#E# /#%&,/! >#>#,M K!& &> &!%.3.4 %!/@$: x &!& (Bill); x #B#" (Deposit); x !%' (Transfer). 38
. .
,E' "$!F#E#' $/# #>%,M, / >!!*'& >'$#"?# &!%!/@$ #F #* !%&,>#*,, &'&D#*,, $/$. %. 3.5 >#/!, Bill, #"!/ "! $QB $/! ",C' %B#C$ ! @'. #F#A '/$'$#"?# &!%!/@$ — / (frequency) — '%'A ! 'BI >!'FD $/! A #%!N'A %>%/#* K#, &>#B ?!%&: x N#" (Daily); x N#&C (Weekly); x #" !< ! "! &C$ (Every other Week); x "$?$ ! *$%@D (Twice a Month); x #" !< ! ?#& &C$ (Every four Weeks); x N#*$%@ (Monthly) — '$#"?#%&$ «FQ' !F!,! >F!&'C$ &! #@$/ *!AK,&D#E# %&!, !B,/,.
%. 3.5. $!F#E#' $/# #>%, >!!*'&$ >'$#"?# &!%!/@$
%/$FD/ ! K!'$#"?# &!%!/@$ E'',I&D% #! *$%&& K$FDQ$%&D '/$#&!>F&*,&D <E''#!$ &!%!/@$; x /#&!E'& (Pay To, From) — '#K#’$"/!&'E#$ "#B#"$ ? &!&;
39
x #*' >F!&'C, (Number) — '#K#’F!&'C, (Amount). '/$/F!", ! K!'$#"?# &!%!/@$ < *$%?* >'$#"#* &! "!I 10 C#& 2003 #/, >#%F$"## K,",&D %&#I!&% #&'@$A$, F!&'C$, ! B$ "!& /!F'"!$ &!%!/@$A K,",&D >##%$K — @' %&#' >'$#"?# &!%!/@$ ! K! @D#*,: x >#>#,M /#%&,!?'$ K!& >'$#"?$%&D; 'Q#E# >F!&'C,; 2003 #/,, "!I >'Q#E# >#&'@$A#E# >F!&'C, #$ '/$'$#"?# &! #&$K# "#"!& N' *'B!$'$#"?B &!%!/@$B — /F!$Q! Split ! #*$ #>%, &!%!/@$. 40
. .
$FD/$%&D >#&'@$AB &!%!/@$A '#K*'C'! ("!&! #%&!D# &!%!/@$ '#&'@$A$ >F!&'C$ — $" >'Q#E# F!&'C$ *$%@, /F!", /N# F!&$C $" 20 %'> 2003 #/, $ $ M B##F#E$?# >'Q*, ! ! /!F'"!$ $"#K!C'# K''F!&'C$ F!&'C$ >#"&D "# !!*'&$ >'$#"?# &!%!/@$, ! #&C', $ %$B >#&'@$AB >F!&'C$. >'!@$ F!&$C. F @D#E# > !&%'$ /#%&,!?'* ! /F!$Q, Delete >!/'& &!M ># A#E# !*$ "$!F#E#* $/#* < /F!$Q!*: Delete All Instances — #&'@$A$ >F!&'C$; Just This Instance — F!&$C; Cancel — ' F!&'C$. 3.5. ' * $ '* % )
C,!F$ >#&'@$AB >F!&'C$ F$#,? $" /#C# &!%!/@$ #!>#'@D E''!@$. /N# >!>#'@D E''!@$ &!%!/@$ >$"&A, #%&!D#*, %>?/, &!KF@$ F!&'C, ! *#*'& #&'@$AB &!%!/@$A, /$ $ B#&$ K <E'',!&. ''!@$ >#&'@$AB >F!&'C$ !/'& %!* >$"$*!M >#&$K$ >!>#@$.
41
%. 3.7. $/# E''!@$ >#&'@$AB >F!&'C$
F >#?!&/, E''!@$ $"#&$K# !"#/, /N# /#%&,!? B#&$ K %/#E,!& A#E# '/$/F!", >#%&!& #*' ?'/,, ,?& %,*, /#*,!FD#E# >F!&'C, N# (%. 3.7). !F$ /#%&,!? *#C' !&%,& ! #", < "$!F#E#B /F!$Q #*: x Enter — <E'',!& &!%!/@$I C,!F$ >F!&'C,; >#&'@$A! &!%!/@$ ,%,!M&D% < &!KF@$, $ >!/'& >''B#"&D "# E''!@$ !%&,>#; x Don’t Enter Now — ' E'',!& &!%!/@$; , @D#*, !!>#'@D E''!@$ #>,%/!M&D% "F >#?#E# >F!&'C, $ "F %$B !%&,>B >#&'@$AB &!%!/@$A $">#$"# >'$#"?# &!%!/@$; x Cancel — >''!& >#@'% E''!@$; ,%$ >!>#@$
& ? 13. < ) .
43
14. % ). 15. % . 16. 0 Balance ? 17. 0 ? 18. 0 % % ? 19. 8 ) ( ' ? 20. / % Balance ? 21. 0 ? 22. % . 23. = , ' ( ? 24. 0 & , ' &% ? 25. 0 &? 26. % ) ). 27. 0 ) ? 28. 8 ( % &)
)? 29. % ) & & .
$ 1. &#$&D %&!"!&, &!%!/@$I "F #K,"#!, &!%!/@$I /#&!E'&!. 3. R*$$&D %,*, &!%!/@$ &! $"'%$&D ! $Q, /!&'E#$I. 4. '''%$&D &!%!/@$I C,!F $Q#E# !B,/,. 5. &#$&D #, >$"/!&'E#$I $%,I?# /!&'E#$ $ $"'%$&D ! ' !$Q' >#K,"#!, &!%!/@$I. 6. &#$&D &!%' *$C "#*! /F!", /,>$F !, < ). 11. #'"$&D /F!", #"'C! %&>'"$). 13. R! "#>#*#E#I >'$#"?B &!%!/@$A %>#E##&E#* *$%@. 44
. .
4 MS MONEY 4.1. *
. 4.2. # . 4.3. # . 4.4. # ' . 4.5. *&& . 4.6. # . 4.7. # . ".
. # . $ .
4.1. &(& H — @' &>#$ $!%#$ #!/'&$ MS Money $!%#$ /!FD/,F '!F$'#, !A>#%&$QA
45
>''$&. !&%/!$ ! /F!$Q, Loan Calculator ! '/!$ #@'&! — Interest Rate; x &'*$#* /'"&, — Loan Length; x ?!%I /'"&B '%/$ — Payment Frequency; x 'F?#I /'"&#E# '%/, — Payment Amount (P + I); x
" < @B Q'%& >!!*'&$ >!/'& #’&D. 'A >!!*'& /#%&,!? >#' ,%&*,
. .
x >'$#"?$%&D /'"&B '%/$ — >$#/, (Payment Frequency — Twice a year); x /'"& >#$%&I %>F!?,M&D% /'"&* '%/!* (Balloon Amount = 0,00); x >#F' Payment Amount ##C$*. !&%/!$ ! /F!$Q, Calculate /!FD/,F /'"&$ #K?%FIM 'F?, /'"&#E# '%/,: 26 006,58. #%&,!? *#C' >$"K!& >#&$K$ >!!*'& /'"&,, #"? >#&$K$ #FE!M *,, N# > B#"$ < #* /!FD/,F! %$ A#E# >!!*'& &!?!I&D%. F!$Q! Clear All #?N!M %$ >#F, >#'&!I? * %&!"!&$ F!&, #F' Frequency), >#?!I? < 1 %$? 2004 #/, (>#F' First Payment Date). F #!!*'&$ /'"&, %F,C&D /F!$Q! Calculate. / "# < @D#E# >/F!",, "#"!&/#$ '%/ "##F' Interest you would save). #$?A '%#/ , ##F' New Last Payment Date).
%.4.2. G#*! "#"!&/#B '%/$ /!FD/,F! /'"&$
>%#/ K#, Frequency >#>#,M & !$!& ?!%& '%/$: x Only once — FQ' #" !
>#@'%$ "K! #K’M/&! (Purchase Price) — @ @$! M"! "F #K#B !$!&$ #!!*'& "F /#C#E# /'"&, %#; x >#?!&/#A '%#/ (Down Payment) — "K! #K’M/&! (&>## 10 %, 20 %, 30 %) !K# !K%#FI&#I 'F?#I; x &'*$ /'"&, (Mortgage Length) — *$IM&D% #/!B !K# *$%@B; ''*/!?, /A "##@'& !/&/,I&D% (K ,FD#$); ,/&, &* *'QA /'"&A >#@'&; x Loan Service Fee, Fixed Loan Fee — >F!&! ,/&!*, !F' , EF"$ !K%#FI&# 'F?; x Closing Costs — !&$%&D #K%F,E#,!* /'"&, — @' >#E#
49
x Total Initial Costs — #?!&/#$ &!& — >$"%,*#/ >#?!&/##E# '%/,, >,/&$, >F!& #&E#* ,%D#E# &'*$, /'"&,; x Annual Percentage Rate, APR, Estimated APR — ''/&, >#@'&, %&!/,. '/&! >#@'&! %&!/! $"$'$#", $ !B#,M #?!&/#$ &!&; /N# #?!&/#$ &!& ,FD#$ $ #*$!FD! /'"&! %&!/! M $?#I, ''/&! /'"&! %&!/! #"!& !K# >''"K!A , /'"& #K’M/&, ?'E##*, "$!F#E##*, $/$ /!FD/,F! #$ "#B !$!&$ /'"&, &,& >#&$K# '%& 'F?,, ' K$FDQ, F!&'C$, /$ K,",&D #?!&/#$ &!& ,FD#$, #K"$ %&!/ — >''EF,&! &! #E$!FD! — %!$A >'$#"?#%&$ #N!"B '%/$). / $ /!FD/,F /'"&$, /!FD/,F /F!", 'F?! >'$#"?#E# '%/,). F @D#E# >#F' #!!*'&! >#&$K# #?%&&, #Q $Q$ >#F /!FD/,F!, $ !&%,& ! /F!$Q, Calculate. F!$Q! Clear All #?N!M %$ >#F /!FD/,F!. F!$Q! Inflation "##$& < >#?!&/#*. F!$Q! Calculate #!!*'& '%!@$MI >F, $F@$): x /$@'! %,*! !!*'&$ "#"!&/## >'%$, /, /#C! $'?&, %>F!?,I? "#K#$FD$ '%/ '"'C!A >'%$AA #". #<EF'*# #%#$ >!!*'& @D#E# /!FD/,F! &! %@'!$A A#E# #K#&. >,%/!M&D%, N# %$ >'%$A$ '%/ *!I&D #"!/#, 'F?, $ ''$#"?$%&D. '%$ &!/#C >F!?,M&D% >'$#"?# $ #"!/##*, #'Q$A %$@$ >'%$A#E# /!FD/,F! /#%&,!?
51
x Retirement Age — >'%$AA $/ (, #/!B) — $/, /#*, $ >>&D #K& >'%$A$ '%/ $ >#?' #"'C,!& >'%$I; x Life Expectancy — &!F$%&D C&& ( #/!B) —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our total savings …) — 141 384,31 E#Q## #"@$. ! @$A %!*$A %$@$ /#%&,!? *#C' #&E#* %D#E# ?!%, ,/@$#,! >'%$A#E# !B,/, (Annual Inflation Rate). R! #>#,M #*, $F@$ 3 % $ $"!$"!B#,M&D% $ '#KB$"A #'%$A#E# !B,/,: 687 955,75 E#Q#B #"@D. #%&,!? *#C' '%& $Q, #*, $F@$ $ #F#! %$/, Level); x !! >#F#! %$/, Growing). C?' /!FD/,F #$$"#Q' /B /!A/!N' !E$&,M '%$A$ !B,/: 9!E#*!"C', %,*, '%/$ (Total Contribution); > '"'B "!B K'< ,!B,! $F@$ #! %&!#&D 56 573,97, ! < ,!B,!* — 82 581,57; 9>#@'& >'$#" !E#*!"C' (Return on Savings); K'< ,!B,! $F@$ # %&!#F&D 631 381,78, ! < ,!B,!* — 605 374,19. ^#%&! %$/! >#>#,M $"%&!$ "!B ># &!%!/@$ C,!F$ !B,/,. !/* ?#*, @'A /!FD/,F M #%#KF* $ K'' $#*!@$I ' FQ' < >#F$ ,'"', ! A (E#F#* ?#*) < K!#?!/ &! /$'@D $&'!F, ##@'&$. #%&,!? >#' '%& &!/#C "$ #* >#@'&! (/$ #K,*#F'$ ,E#"$ < K!/#*): "F "#"!&#E# $ "F $"’M*#E# %!FD"# /#Q&$ ! !B,/,. !/* ?#*, /N# %!FD"# ! !B,/, >#&E#* /#E#%D ?!%, K,F# "#"!&', K!/ >F!&&D F!&&D K!/#$. R! #>#,M #K"$ #* ! $$ 3 %. $%F '"' %$B '#KB$"B "!B >#&$K# !&%,& ! /F!$Q, Calculate. '''#%&D A#E# K,', "!I? *#CF$%&D >$"%&!#/ %,* >#@'&$ K'#%''"D# &!%!/@$I.
53
4.7. $ #%&,/ /'"&#E# !B,/, >'$#"?, &!%!/@$I. 'Q$ "$ %$/ /#%&,/! M $#*!@$A* $ >#$"#*FI&D, N# >#?!M&D% '&!> #$"#. ! >’&$A %$@$ #''*/!?! >#&$K# F!&'C$ "F >#E!Q' @D#E# /'"&,, ! /N# &!/, ? F!&'C, (Due Date). D#*! %$/! M $#*!@$A#I $ >#$"#*FM ># >#?!/ '&!>, #!!*'&$ /'"&, (Calculate Loan). ! #%D*$A %$@$ >#&$K# #&$K# %>F!&& (Based on Date Payment is Due), %&!"!&A K$; x B#"? < "!&, /#F /'" #"'C,M '%#/ — Based on Date Lender Receives Payment; x "$?$ ! $/ (/!!"%D/! #F' >##C$*, N#K >!/'& #$A, ?#&!"@&$A, %$@$ ##F' "F #%&!D#E# '%/, (Balloon Amount), /A #B#>FIM '%D #F' &'C *#C' K,& ##F$, ! ' #K"!, *, FQ' #"' < B *#C' #',&% "# >#>''"$B /#/$, !!*'& /'"&,. ! >’&!"@&$A %$@$ /#%&,/ >$"%,*#,M "!$ ># /'"&, ! ! Q$%&!"@&$A >#$"#*FM ># >''B$" "# &'&D#E# $ #%&!D#E# '&!>, #K#& — ,>!F$ >F!&'C!* (Manage Payments). ! %$*!"@&$A %$@$ >#&$K# K!& /!&'E#$ &! >$"/!&'E#$ "F #KF$/, /'"&B >F!&'C$ — #/'*# "F >#'' /'"&, (Principal Category, Principal Subcategory) $ %>F!& >#@'&$ (Interest Category, Interest Subcategory). ! $%$*!"@&$A %$@$ /#%&,/! #F!&'C$, /$ B#"&D "# %/F!", /'"&#E# '%/, (%&!B,!, ##*F' >F!&'C, N#). $ >F!&'C$ #%&D% &, %!*, %/F!", &!%!/@$I, N# A !$Q' # ?!% %>F!& '%/$ $ %>#%&F! B 'M%&!@$I K!#E# !F'C#E# "# %>F!& '%/,) $ Pay from Account (!B,#/, < /#E# >F!?,I&D% '%/) !K# Deposit into Account (!B,#/, ! /A >A*!I&D% '%/). '$#"?! &!%!/@$ K,"' ,&#'! ?# ! #''*/!? >#&$K# >#%&!& >#F#C' x No, do not remind me.
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63
/N# %D#E#"$ 17 C#& 2003 #/,, >#F' From >!/'& #?!&/, &'&D#E# *$%@ $" >#?#E#; !>/F!", /N# %D#E#"$ 17 C#& 2003 #/,, >#F' From >!/'& #?!&/, Q#%E# *$%@ $" >#?#E#; !>/F!", /N# %D#E#"$ 17 C#& 2003 #/,, >#F' From >!/'& #?!&/, "!!"@E# *$%@ $" >#?#E#; !>/F!", /N# %D#E#"$ 17 C#& 2003 #/,, >#F' From >!/'& !/'& , *, !! "$!F#E#B 'F'*'&$ Include transactions #&$K# $FD&,!& &!%!/@$ @$ All transactions @D#E# >''*/!?! %&!#FIM 'C*, /#F &!%!/@$ !!*'&!* ' $FD&,I&D%; >@$ Select transactions >''*/!?! %&!#FIM 'C* $FD&,! &!%!/@$A !*, #*'!*, %,*!*, >F!&/!*, /!&'E#$* N#. /N# "/ (%>?/) #"/#,M&D% ?/ $ ! #*$ A#E# >!!*'&$ >$"& >!>#'@D Sort by Amount, "/ #",, D#*, $"#K!C!I&D% / #K’M/& #$"* >$"%,*/!*: 64
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65
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%. 6.2. ''*/!? "F , $'%&@$ @$B >!>'$: x @$$ >!>' "#$?B !%& &! $'%&@$AB #"$ (Unit trust); x $F'A#!$ !/@$ &! #>@$# (Ordinary stocks, Preference stocks, options); x "'>#!, < #* !B,/#* &! ##I $'%&@$MI, #! >#/ N# FQ' #>'!@$ (Activity); ¾ *$&/! (Memo). F #F'* #"!& @$$ >!>'; x Interest — #@'&; x Dividend — $&!F#/F!"'D; x Reinvest S-term CG Dist — '$'%&,!& "#B#" $" /##&/#&'*$#B /!>$&!F#/F!"'D; x L-term Cap Gains Dist — $&!F#/F!"'D; x Reinvest L-term CG Dist — '$'%&,!& "#B#" $" "#E#&'*$#B /!>$&!F#/F!"'D; x Other Income — #&'FD; x Remove Shares — ,%,,& !/@$ < >#&'F. K#$ &>, #>'!@$ Q!KF#$ &!%!/@$ '!@$A *#C,&D '!@$; i Comm — /#*$%$A$ &! $Q$ >F!&'C$, /$ %>F!?,I&D% K#/'#$ / !E##"! #%''"@&# , /#!$ @$M #>'!@$; i Total — '!@$ (< ,!B,!* /#*$%$AB). 80
. .
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>'!@$
Quantity
Price
Comm
Total
Buy
+
+
+
+
Sell
+
+
+
+
Interest
-
-
-
+
Reinvest Interest
+
+
+
+
Dividend
-
-
-
+
Reinvest Dividend
+
+
+
+
S-term Cap Gains Dist
-
-
-
+
Reinvest S-term CG Dist
+
+
+
+
L-term Cap Gains Dist
-
-
-
+
Reinvest L-term CG Dist
+
+
+
+
Other Income
-
-
-
+
Other Expense
-
-
-
+
Return of Capital
-
-
-
+
Add Shares
+
-
-
-
Remove Shares
+
-
-
-
6.4. ' '
$
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81
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9 $! 12.2 '" 'X#%' "# X#]"# ,X" '1"#( IBM > 1995—1998 . Balance Sheet Summary
Cash
Dec 1998
Dec 1997
Dec 1996
Dec 1995
US$ (mil)
US$ (mil)
US$ (mil)
US$ (mil)
(12-MOS)
(YEAR)
(YEAR)
(YEAR)
5375
7106
7687
7259
393
447
450
442
Receivables
18,958
16,85
16,515
16,45
Allowances
0
0
0
0
5,2
5,139
5,87
6,323
Current Assets
42,36
40,418
40,695
40,691
Property and Equipment, Net
44,87
42,133
41,893
43,981
Depreciation
25,239
23,786
24,486
27,402
Total Assets
86,1
81,49
81,132
80,292
36,827
33,507
34
31,648
0
0
0
0
10,121
8,601
7,752
0
Preferred Stock
0
0
0
253
Common Stock
247
252
253
7,447
Other Stockholders’ Equity
9,065
10,963
13,623
14,723
Total Liabilities and Equity
86,1
81,499
81,132
80,292
Securities
Inventory
Current Liabilities Bonds Preferred Mandatory
&!KF. 12.2 &! 12.3 !'"'# !E*'& !$ IBM /#*$%$I < , /$ *$%&&D $#*!@$I ># K!F!% &! >K,&/ /#*>!$ #/!!$, >#'"' !!F$'%>'/&#%&$ >"K! !/@$A. !F$ "#"!&/, !#"&D% ''F/A %F#?#/ &'*$#F#E$ !!F$ # ' ,! >, '1"#( IBM 1995—1998 . Income Statement
1998
1997
1996
1995
Total Revenues
81,667
78,508
75,947
71,94
Cost of Sales
50,795
47,899
45,408
41,573
Other Expenses
21,708
21,511
21,943
22,776
0
0
0
0
Interest Expense
713
728
716
725
Income Pre Tax
9,04
9,027
8,587
7,813
Income Tax
2,712
2,934
3,158
3,635
Income Continuing
6,328
6,093
5,429
4,178
Discontinued
0
0
0
0
Extraordinary
0
0
0
0
Changes
0
0
0
0
Net Income
6,328
6,093
5,429
4,178
EPS Primary
$6.75
$6.18
$10.24
$7.23
EPS Diluted
$6.57
$6.01
$10.02
$7.05
Summary
Loss Provision
158
. .
0 /:;!;:"@;AB A::A Cash — E#&$/! ( K!/!B &! /!%$). Securities — (>,N'$ / %!*#I /#*>!$MI IBM, &!/ $ $Q* /#*>!$*). *#C,&D /#%,!&% >!/&?# !$$ < E#&$/#I "F #!$MI). Inventory — !$ !%. Allowances — #?$ K,/. Total Liabilities and Equity — %D#E# >!%$ — %,*! $"%,*#/ K!F!%,). Total Revenues — #",/@$. Other Expenses — $Q$ ('#K?$, !/F!"$) &!&. Loss Provision — 'K,/ >''" %>F!I >#"!&/$ (#K,/). Income Tax — >K,&/#A >#"!/. Income Continuing — /#*>'%#!A >K,/ (, !!$ #%F,E), !"'%, &! /#&!/&$ &'F'# E#F##E# #$%,. 4. R! !$. 162
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165
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173
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%$ " #>@$#$ B!!/&'$F$ ? >#"!C, K!@$# "!M >!# ! #?!I? $" !%&,>#E# " >$%F "!& >#"!C, $ E#Q!B). /N# /#! @$! *'Q! @$#,), #>@$# /#,!& 'E$"#, $ @ %&,!@$ !
175
6000
"< Put
5000
4000 3000 2000
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1000 In-the-money
0 120
110
100
: :[
90
80
70
60
50
40
30
20
10
0
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%. 14.1. G,/@$#,! !/E# Put-#>@$#, !"# 14.2. 25 &! 1993 #/, >#/,>'@D >"K! 100 !/@$A GM >!"$$ @$ !/@$, >#/,>'@D '*$ #"#?!%# >"K! 100 4*$%?B Put-#>@$#$ ! @$ !/@$ < @$#I-%&!A/ $ 60. #*#"'FI!& *#CF$ %&,!@$ ! /,. /N# #"#?!%# < #>@$#!* >#/,>'@D #F#"$M $">#$"#I /$FD/$%&I K!@$# !#/,>'@D *$E K %/#%&!&% #>@$##*, /#! @$! !/@$ a) #%&' "# $ 70; b) >!"' "# $ 50.
>!"/, a >#/,>'@D *#C' < E#"#I >#"!& %# !/@$ ! /,
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177
K'!"' ,!! ' ""# PUT-'U#'"! B
19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38
C
D
63 1/4 60 13/16 100
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0 10 20 30 40 50 60 70 80 90 100 110 120
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< Call
4000 3000 2000 At-the-money
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1000 Out-of-the-money 0 -1000 0
10
20
30
40
50
60
70
80
90 100 110 120
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181
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$ 1. #<EF,& "! M#>'A%D/$ Call-#>@$#, ,%$ '/$!FD$%&D %#/, 'A%D/$ Put-#>@$#, ,%$ '/$!FD$%&D %#/, @$#, M#>'A%D/A $ !*'/!%D/A, ,%$ $Q$ '/$@$# "##C?A $ ?#*,? ''$& >!FD$%&D %#/, !F! ! 10 %. @$#, K'#%''"D# >''" A#E# /#!*. 6. 'B!A /#! @$! K! /,>$F$ 2-*$%?#E# M#>'A%D/#E# Put-#>@$#, %&!#F! $ 70 $ ''" A#E# /#!*. 7. 'B!A /#! @$! K! /,>$F$ 1-*$%?#E# M#>'A%D/#E# Put-#>@$#, %&!#F! $ 40. ?$/,M&D%, N# @$#$ *#C! %&#& K'
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183
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Financial db ddb fv ipmt irr mirr nper npv pmt ppmt pv rate sln syd vdb 184
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ACCRINT
Accrued Interest
ACCRINTM
Accrued Maturity
AMORDEGRC
Amortization Calculation
Degree
AMORLINC
Amortization Calculation
Linear
COUPDAYBS
Coupon Days Settlement
Before
COUPDAYS
Coupon Days
$FD/$%&D "$ , /,>##*, >'$#"$, /A #B#>FIM "!&, /,>$F$
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Coupon Days to Next Coupon day
$FD/$%&D "$ $" "!& /,>$F$ #KF$E!@$ "# >#?!&/, !%&,>#E# /,>##E# >'$#",
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Coupon Number
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Coupon period Previous Coupon Day
#>''" >''" /,>$F'I "!&! >F!& /,>#$
CUMIPMT
Cumulative Paiment
>F!?'$ /'"&$ >#@'&
CUMPRINC
Cumulative Principal
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Discount rate
#*! "%/#&,
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Dollar Decimal
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Dollar Fraction
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Next
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185
( ' . 2 G,/@$
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Odd First period Yield
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Odd Last period Price
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Odd Last period Yield
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Price of bond
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PRICEDISC
Price of security
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Price of security
Maturity
@$/! /## !%&$ /,*,F&#E#
RECEIVED
Received to maturity
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TBILLEQ
Treasure Bill Equivalent
#B$"$%&D #KF$E!@$, '/$!F'&# %/!K?#*, '/%'FI
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Treasure Bill Price
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186
Value
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eXtended Net Present Value
'$Q !&$%&D /!>$&!F,
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Yield
#*! >K,&/##%&$ /,>##E#
YIELDDISC
Yield of security
Discount
#*! >K,&/##%&$ "%/#&#E#
YIELDMAT
Yield to Maturity of security
#*! >K,&/##%&$ /,*,F&#E#
* ,>#A >'$#" !#&& $!%##E# *''"C*'&, . . . . . . . . 6 1.2. 'B$/! "%/#&,!. . . . . . . . . . . . . . . . . . . . . . . . . . 8 1.3. #!/'& $!%##E# *''"C*'&, . . . 11
"#$%& 1. MS MONEY 2. ' ) MS Money . . . . . . . . . . . . . . . . . . 16 2.1. #@'>@$ >!/'&! >'%#!FD#E# $!%##E# *''"C*'&, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.2. !B,/ &! /!&'E#$ . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.3. #?!/ #K#& < >!/'* . . . . . . . . . . . . . . . . . . . . . . 2.4. #K#?A %&$F >!/'&, . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.5. ''"C' !B,/$. . . . . . . . . . . . . . . . . . . . . . . . . . . .
16 18 22 25 26
3. :[ MS Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 31 3.1. ,!F !B,/, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.2. >'!@$ < &!%!/@$* . . . . . . . . . . . . . . . . . . . . . . . . 3.3. !F!% !B,/, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3.4. '$#"?$ &!%!/@$. . . . . . . . . . . . . . . . . . . . . . . . . . 3.5. ''!@$
31 33 35 38 41
4. _ * MS Money. . . . . . . . . . . . . . . . . . . 45 4.1. #&& $!%##E# /!FD/,F!. . . . . . . . . . . . . . . 45 4.2. !FD/,F /'"&$ . . . . . . . . . . . . . . . . . . . . . . . . . . 45 188
. .
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49 50 51 53 54
5. > MS Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60 5.1. EF" $"%%&'* . . . . . . . . . . . . . . . . . . . . . . . 5.2. R!%#K >!!*'&
60 62 62 65 65 66 66 67 69 70 70 71 71 72
6. ' :[ ) :* MS Money . . . . . . . . . . . . . . . . . . 76 6.1. '%&@$A$ !B,/ . . . . . . . . . . . . . . . . . . . . . . . . . . 6.2. '%&@$. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.3. >'!@$ < $'%&@$* . . . . . . . . . . . . . . . . . . . . . . . . 6.4. /#$ @$ @$B >!>'$ . . . . . . . . . . . . . . . . . . . . 6.5. '%&@$A$ #@'&$ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7.3. R!F'C$%&D >#@'&$ $" &!F#%&$ >'$#", . . . . . . . 7.4. #
189
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174 175 175 179
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