03-13-2017 08:26 AM
Trying to do a simple calculation but keep on getting an Error 5 message. Happens for some of my number inputs, but not all. Example:
PV: +44100 (dollars held in an investment account)
PMT: CHS 205 (monthly withdrawal)
I: 6.0 (% interest rate)
N: number of months before account is depleted.
Why do I keep getting Error 5 message?
If I change the PV to 20,000, I get a solution for N at 135.
Why does it calculate for some PV's and not all?
03-13-2017 09:15 AM
"Error 5" usually means there is no solution for the parameters given.
With a start balance of 44 100 and interest of 6% per annum, you are earning more than 220 in the first month.
So withdrawing 205 per month you will never empty the account.
Note: I do not work for HP, I just like playing with calculators :-)