Question about Texas Instruments BA-II Plus Calculator

# What is error 5? coupon rate 6% semiannual payments Face value \$1000 Yrs to maturity 8 current market value \$902.81

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Hi,

http://www.tvmcalcs.com/calculators/baiiplus/baiiplus_page1

It would have all the details why i got that error.

Let me know,if needed further assistance.

Hope i helped you.

Thanks for using ' Fixya ' and have a nice day!!

Posted on Nov 14, 2010

Hi,
a 6ya Technician can help you resolve that issue over the phone in a minute or two.
Best thing about this new service is that you are never placed on hold and get to talk to real repair professionals here in the US.
Goodluck!

Posted on Jan 02, 2017

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A 6.75% APR compounded semiannually gives an effective interest rate of about 6.864%:
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### Excel 2007

The IRR function is provided by Excel so you can calculate an internal rate of return for a series of values. The IRR is the interest rate accrued on an investment consisting of payments and income that occur at the same regular periods. In the values provided to the function, you enter payments you make as negative values and income you receive as positive values.
For instance, let's say you are investing in your daughter's business, and she will make payments back to you annually over the course of four years. You are planning to invest \$50,000, and you expect to receive \$10,000 in the first year, \$17,500 in the second year, \$25,000 in the third, and \$30,000 in the fourth.
Since the \$50,000 is money you are paying out, it is entered in Excel as a negative value. The other values are entered as positive values. For instance, you could enter –50000 in cell D4, 10000 in cell D5, 17500 in cell D6, 25000 in cell D7, and 30000 in cell D8. To calculate the internal rate of return, you would use the following formula:
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### Tvm_I%

I'm going to make up an example so this is easier to answer.

Ex: You have a bond with a price of \$987, with a coupon of 1.5%, which matures in 10 years.
To do this problem:

[APPS] [1] [1]

What comes up on screen:

N=
I%=
PV=
PMT=
FV=
This is all the stuff that you really care about.

Now, add in the info you know from the equation. Put in a 0 if you don't know the number for that part.

This is what it should look like:
N=10
I%=0
PV=-987
PMT=15
FV=1000

Now, cursor back up to the I%=0 part.
Highlight the '0' that you had in there from before.
[ALPHA] [ENTER] ----> notice above the enter button it says in green lettering "solve", this is what you are trying to do.

Yay! Your caluculator has now figured out the interest rate!
it should say:
I%=1.642027191

Notes:
1. Make sure your payment is set at the end of the period (this is just the standard so you probably don't want to mess with it.) Scroll down to the PMT: END BEGIN part and make sure the END is highlighted.

2. This example used annual coupon payments. The p/y and c/y business is used for when you have semi-annual payments or semi-annual compounding (or daily, or hourly etc). You can use this feature, or you can just adjust the payment and periods
(ie: if this were a semi-annual coupon bond, the N would be 20 and the pmt would be 7.5)

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The present value of any future monthly (?) stream of payments stretching some 24 years into the future takes into account the time value of money and depends on the interest rate assumed to apply for each month throughout those 24 years.

There are formulae to calc this for an equal monthly payment and a constant interest rate, over the term but for a variable interest rate you need a spreadsheet.

In the simple case of zero interest assumed throughout the term, present value = current principal balance, but for any positive interest rate, the total present value of the future payment stream is less than the current principal balance.

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