Sorry to ask a very basic question, I used the calculator to calculate the yearly payments and the result is 25,031 but the book said 28,201. This is very basic question without involving END or BGN mode. I am dying :(( N = 4 years
FV = 0
PV = 100,000
I/Y = 5%
Compute PMT = $28,201
P/Y=C/Y=1 END (assumes payment end of the year, not beginning) 2ND CLR TVM 4 N 5 I 100000 PV CPT PMT -28,201.1832
I get 26,858.26977 if I use BEG.
Thank you so much, I put 5 and then % so that is why it ends up being only 25k :((
