Question about Sharp EL-738 Scientific Calculator

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Sharp EL 738 Financial Calculator TMV calculation

Trying to calculate this and getting 1523.93
Please help

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

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Hi there,

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 on
press +/- 35 000 PV
press 446 659 FV
This should give you the answer of -819.23 as expected :)

Posted on Sep 19, 2017


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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?

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Posted on Feb 21, 2010

SOURCE: We understand that your problem

Using a pencil or pen, push the indented 'reset' button on the back of the calculator.

Posted on Mar 03, 2011

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