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Invalid computation Hello, I am taking an accounting course and purchased the Sharp EL-738 Business/Financial Calculator. The question that I'm trying to answer involves finding the present value of an annuity. When I enter the date quarterly compounding periods = 4 P/Y 4 year investment n=4 interest rate = 14 I/Y payment = 4000 PMT future value = 64000 FV and then enter COMP PV, I get a number that doesn't match what it is supposed to which is $50,069.?? Can you tell me if I'm entering the data incorrectly please ie. the values should all be negatives?? I've tried a variety of things inlcuding the step by step instructions in the manual but nothing seems to work. Thanks.

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Re: invalid computation

Hmmm, I don't think the problem is with your calculator. I'd be checking the accounting question again as I don't think you've got your annuity question structured right.

4 Year Annuity
14% Annual Interest Rate
Your contributing $4,000 per year over the next 4 years
and you already know the future value is $50,069?

You'd have to make annual payments of $11,878.93 (4 of them) at that annual interest rate to get to a future value of $50,069 (which has a present value of $43,632.24).

Are you sure that the FV isn't the trade in value at the end of the 4 years?

Posted on Mar 30, 2008

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