BA-II Plus calculator is consistently giving the wrong answer

I’ve had a BA-II plus calculator for an entire Theory of Interest course and now for Exam FM prep. I always clear TVM and Clear Work between each computation. I always follow the instructors key strokes. It is literally. never. right. Ever.

Here’s an example. I’m doing a problem for 2017 SOA FM exam. I want to solve for a 10000 par value 10 year bond with 8% coupons bought at premium to yield an annual effective rate of 6%. I want to find the book value of year 6.

I put 4 for N, 6 for I, 800 for PMT, and 0 for FV. I would expect this to yield 10693, however, for some reason, it yields 2772.08449. I cleared TVM, and cleared work multiple times. Each time I do it it yields this answer. I need to use this calculator for my June sitting and yet it seems completely useless and I will lose so much time doing computations by hand rather than by calculator.

From an oooooold FSA who knows your pain:

P/Y=C/Y=1 (annual coupon, annual compounding)
N 4 I 6 PMT 800 FV 10000 CPT PV -10,693.02112

You need to set FV to 10000 to reflect the redemption of the face amount at time 10.

Please, please, please, please read the calculator manual and do the examples!!! It is chock full of good functionality for those FM problems!!! :+1:

Thank you so much! ACTEX’s lecture had the FV at 0 so I used that without double checking. Really appreciate the help!

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Realy intresting

They let you bring in an officially approved calculator!!! It will be your only friend during the exam!!! :+1: