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For convenience we use the important financial keys

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Unformatted text preview: e the important financial keys, labeled in a fashion consistent with most major financial calculators. We focus primarily on the keys pictured and defined in Figure 4.4. We typically use four of the first five keys shown in the left column, along with the compute (CPT) key. One of the four keys represents the unknown value being FIGURE 4.4 Calculator Keys Important financial keys on the typical calculator N I PV PMT FV CPT N — Number of periods I — Interest rate per period PV — Present value PMT — Amount of payment (used only for annuities) FV — Future value CPT — Compute key used to initiate financial calculation once all values are input 134 PART 2 Important Financial Concepts calculated. (Occasionally, all five of the keys are used, with one representing the unknown value.) The keystrokes on some of the more sophisticated calculators are menu-driven: After you select the appropriate routine, the calculator prompts you to input each value; on these calculators, a compute key is not needed to obtain a solution. Regardless,...
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