Decimal problem on tvm question

[Jing10]

Hi, my financial calculator is showing me 'no solution' when I try to plug in 4 decimal places for i on tvm question. For example: i=0.4458. When I key in 0.4458, the calculator will show me 'no solution'. My calculator was set to 4 decimal places and I tried to reset it but it is still not working. I hope you guys can help me on this. Thanks.

[BartdB]

Hi,

I do not think that the 4 decimal places setting is the problem (but it can affect the result, for best results keep to 2 decimal places - remember you can't make payments in fractions of a cent).

"no solution" usually occurs due to the following:

1) the PV, FV and PMT sign (+/-) are not compatible

       - e.g. if for a loan you enter the PV as +ve (money you get) the PMT should be -ve (money you pay)

2) the loan can't be paid off with the data provided

       - e.g. a $100 000 loan at 10% p.a. will never be paid off with a PMT of $800

EDIT:  also see chapters 5 & 6 of the HP10BII+ manual:

http://www.hp.com/ctg/Manual/c02989763.pdf

Hope this helps.

Regards