Question about Texas Instruments BA-II Plus Calculator

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My BAII isnt calculating correctly

Hi,
I've had the same trusty BAII since college and now its not so trusty. Im taking the CFA soon and its calculating all the time value problems incorrectly. For example

PV= -3245
FV=0
n=6
i=12
Pmt= solve

Correct answer $789
My stupid calculator: $559.91

Time to buy a new calculator or is this fixable?

Posted by on

  • matt584 Jan 15, 2009

    the 2nd P/Y causes problems, i believe you have it set on 12 when it should be on 1

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Change the payments-per-year to 1 to get the correct answer. Press 2nd [P/Y] 1 ENTER.

To pay off a loan of $3245 at 12% annual interest, you can either make 6 monthly payments of $559.91 and pay it off in half a year or make 6 annual payments of $789.27 and pay it off in six years.

Posted on Nov 26, 2010

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