Question about Sharp EL-738 Scientific Calculator
Trying to calculate this and getting 1523.93
Use a financial calculator and enter the following values:
n = 180 (15 years x 12 months)
i = 0.75 (9% p.a. / 12 months)
PV = -$35,000 (40,000 - $5,000)
FV = $446,658 (determined in Question 1.)
PMT = ?
MODE = BEGIN (investments would begin immediately = beginning of period)
Solving for PMT = $819.23
Firstly, can i recommend resetting the calculator (There is a reset button on the back). (Or in general press 2ndF MODE to clear all the saved data).
Set your MODE to BEGIN by pressing 2ndF FV.
press 180 N
press 9 i/y
press 2ndF I/Y - press 12 ENT (this puts in your compounding intervals).
press +/- 35 000 PV
press 446 659 FV
Press COMP PMT.
This should give you the answer of -819.23 as expected :)
Posted on Sep 19, 2017
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Posted on Jan 02, 2017
SOURCE: 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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