There is an issue with my calculator as I am not getting the same answer as the answers. Any idea what could be wrong?
Answers say: Market Value of Debt: FV = $10 000 000, PMT = $400 000, N = 10, I/YR = 13.65%. Solving for PV gives $7 999 688.
When I compute it, I get PV = $4 896 931
Any ideas what is wrong with my calculator (BA 2 Plus).