Broken calculator?

Hi – I have the Schweser study materials and am trying to do Q10 of the Concept Checkers in the Capital Budgeting reading (Book 3). It’s a very simple TVM calculation: PV = 20000 N = 3 I/Y = 12 CPT PMT And the answer is 8,327. I get that answer when I use my BA II Professional, but not when I use my backup BA II Plus, which gives me an answer of 6,800. --I tried resetting the calculator --I have cleared TVM --It is not set to BGN Any other ideas why my BA II Plus is giving the wrong answer other than it being broken?? I’ve never heard of a calculator that just starts giving wrong answers… Thanks! --CA

it’s jealous of the other one…upset that it is only being used as backup!

What you have to do is set PV equal to a negative number (-20000) and set FV equal to 0. Then try computing again using the same numbers for the other variables.

sorry…didn’t mean to ignore your questions…just went to get my calc… try what posetti said… but even if you put it 20000 as a positive number, your pmt should come out as -8327. other than that…no idea what the problem could be…

How many payments per year is it set to?

Ah ha! The dreaded P/Y was set to 12 instead of 1…I forgot about that from Level 1…thanks! And hey, if it’s jealous of being used as a backup, then tell it to add MIRR, discounted payback, and modified duration to its features!