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walvarado2016 Student
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HP 10bII+ Financial Calculator displaying wrong answer

A Corporate Finance text wants us to calculate FV per the following data:

PV=-100, I/Y=10, N=5

Answer should be 161.05 but I get 104.24. I already "cleared" the calculator. What am I doing wrong? All problems on the text give different results. Please help!

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Distinguished Professor
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HP 10bII+ Financial Calculator displaying wrong answer

Hi!, @Walvarado2016 :

You can see, for calculate, from ... https://support.hp.com/us-en/document/bpia5027

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HP 10bII+ Financial Calculator displaying wrong answer

Your wrong answer is caused by your payments-per-year being set to 12.  Therefore you are calculating 60 payments over 5 years, instead of just 5 payments, which is what you want.  So just press 1 [P/YR] and recalculate the FV, and you'll get the answer you're expecting.  (N.B. Be sure to use the [P/YR] key, not the [*P/YR] key.)

 

One way to check the current payments-per-year setting without clearing or changing anything is by pressing [RCL] [P/YR].

 

Hope that helps!  Disclaimer: I don't work for HP; I just enjoy using their calculators.

-Joe-
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