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HP 10bii+ Time Value Calculation Issue
01142018 06:11 PM
I am having a problem trying to calculate the Future Value in an equation. I have seen other threads addressing the same issue, but the "solution" given does not make sense to me.
I am trying to calculate
N = 4
I/Y = 8
PV = 2500
PMT = 0
To get the future value. The answer that I come up with is 2,567.34
On the other threads, it is suggested to set the P/YR, button to 1 instead of 0. There are two buttons that have P/YR on them the N button and the PMT button. If using the PMT button when doing this, my answer comes out to be 2,571.38, and reads
N = 4
I/Y = 8
PV = 2500
PMT = 1
The answer I should be getting is 3,401.22, as per the textboox. Am I setting the payment per year wrong? If so, what do I need to do differenly? Or how do I reset so that it reads as 1?
Thank you
01142018 06:33 PM  edited 01142018 06:34 PM
Hi!, @ReillyScott:
You needed see, the User Guide, for Solve your question, from ... http://www.hp.com/ctg/Manual/c02989763.pdf ... or, too ... https://www.educalc.net/1913481.page
For, the Learning examples, from ... https://support.hp.com/usen/document/bpia5027#AbT7
Have a nice day !.
@Maké (Technical Advisor Premium  HP Program Top Contributor).
Provost in HP Spanish Public Forum ... https://h30467.www3.hp.com/
01142018 11:01 PM  edited 01142018 11:02 PM
Notice how the "P/YR" on the PMT key is printed in orange. That indicates that you must press the orange shift key first, to access that function. You should think of the twokey sequence [orangeshift] [PMT] as "the P/YR key". (The same is true of the blue functions and the blue shift key). So, to set the payments per year to 1, press:
1, P/YR (orangeshift PMT).
This stores the 1 into P/YR. You can check its value by pressing RCL P/YR.
When N=4, and I/YR=8, and PV=2500, and PMT=0, and P/YR=1, then FV solves as 3401.22 as you desired.
You mentioned the "×P/YR" on the N key. That's just a shortcut function for easily setting N to a multiple of P/YR. If you type a number, then press ×P/YR (orangeshift N), the number you typed gets multiplied by your current P/YR and the product gets stored into N, all in one step. So pressing [orangeshift] [N] is the same as typing [×] [RCL] [orangeshift] [PMT] [STO] [N].
For these and other details, please read the manual, linked in Maké's posting above.
Disclaimer: I don't work for HP. I'm just another happy HP calculator user.
01152018 03:56 AM
Hi,
I short:
The P/YR om the PMT key sets the number of payments per year (at reset default =12).
The xP/YR on the N key multiplies the number in the display by P/YR previously set with orangeshift PMT key.
For example:
If payments per year is set to 6 ( using P/YR with orangeshift PMT key)
Then for 5 year payments, enter 5 and orangeshift N, then result = 30 the total number of payments.
(note 30 will automatically be stored in N ).
Also remember that the calculator will determine the interest per payment period based on the value of P/YR!
Now back to your problem:
You provide:
N = 4
I/Y = 8
PV = 2500
PMT = 0
what is FV?
There are details missing:
Is "N = 4" in months or years?
Is interest compounded monthly or annually?
From the textbook answer, we can work back that N = 4 years and that interest is compounded annually.
That is why P/YR = 1.
Without this information it would have been impossible to guess what answer was required.
(See Joe's answer for the computation for your required solution).
_________________________________________________________
calculator enthusiast
01152018 05:35 AM  edited 01152018 05:42 AM
Hi!, @ReillyScott:
You can see, this explained video with quick tutorial of, the theory of Time Value of Money, from ... https://www.youtube.com/watch?v=WezRlucQK3g
Have a nice day !.
@Maké (Technical Advisor Premium  HP Program Top Contributor).
Provost in HP Spanish Public Forum ... https://h30467.www3.hp.com/
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