Common Calculator Problems

Common Calculator Problems - For some calculators you may...

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Common Calculator Problems – Quick Fixes 1. You must have a financial calculator – one that has PV, FV, PMT buttons. A stats calculator will not be sufficient for ADMS 3530. Read the course outline for recommended calculators 2. Make sure your calculator is in “Financial” mode. Use your calculator manual to figure out how to do this. If you cannot find your manual, go on the internet and use google or another search engine to find out how to put your calculator in financial mode. 3. Clear the memory every time you start a new problem. 4. Very imp ! For the Texas Instruments BA II plus , use the Reset button and read the footnote 1 on page 89 of Text. 5. There are 4 or 5 variables for most problems: PV, FV, i, n, and PMT.
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Unformatted text preview: For some calculators you may have to set the variables that you are not using to 0. For example, if you are given PMT, i and n and asked to solve for FV, you may still have to set PV=0, even though you do not need this variable to solve the problem. 6. Please note, when solving for PMT, “i” or “n” with your calculator, make sure you put opposite signs on PV and FV (i.e. if FV is positive, put PN negative and vice versa) 7. For annuity due problems, you may have to use the BGN button or reset your calculator (read your manual or search the internet to figure it out)...
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