Get no solution when trying to solve for N or I/YR
Solving for I/YR entered N=10, PV = -100, PMT 0, FV 150 then press I/YR and I get no solution.
entered I/YR = 4.5, PV = -500,000, PMY = 0, FV = 1,000,000 then press N and get no solution. Have hit clr, clr data, have reset calculator and cleared memory. seems to work fine for FV or PV but not for N or I/YR. ran self test and it says it's OK. Any idea what the problem is. Have tried entering these and similar problems over and over for the past hour.
Just to check: You are using the +/- key instead of the - key to input negative numbers?Just to check: You are using the +/- key instead of the - key to input negative numbers?
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"ComPuTe". On TI financial calculators you have to press the CPT button before pressing the button for the value you're solving for. (N, I, PV, PMT, or FV). On an HP calculator, you just press the N-I-PV-PMT-FV button without making any entry in order to solve for the desired value.
If the interest is 1 percent per month, then it's 12 percent per year. Thus I/Y = 12. You're making monthly payments so P/YR = 12. With N = 48 and PMT = -632, I get $23,999.54 . Select FIN from the main menu, then TVM. Press [SHIFT] [CLEAR DATA] to clear. Press OTHER, enter 12 P/YR and select END if needed. Press [EXIT] to return to the TVM menu. Enter 48 N. Enter 12 I%YR. Enter -632 PMT. Press PV to see the result.
If necessary, press f [FIN] to clear the financial registers.
4 0 0 0 0 PV ( enter present value ) 3 . 3 i ( enter interest rate ) 4 0 N ( enter number of periods) FV ( compute future value )
Thirty year mortgage for $200,000, 8% annual interest. What is the monthly payment?
Press the APPS key. Select "Finance". Select "TVM_Solver..." For N enter 360 (30 years of 12 months). For I% enter 8. For PV enter 200000. For FV enter 0. For P/V and C/V enter 12 if they're not already so. Select "END" on the last line. Move up to the PMT line and press ALPHA [SOLVE] (ALPHA ENTER). You should get a payment amount of $-1467.53 (the negative sign indicates what you pay out).
Unlike other brand calculators, HP calculators don't need such a key. After entering the other data, simply press the key for the desired value. For example, to find the future value, simply press the "FV" key.
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)
Note: calculator is set to 1/P/YR End mode
Just to check: You are using the +/- key instead of the - key to input negative numbers?
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