Guys,

It see when i am using the NPV function in the BA II Plus calculator (for calculating the present valuing of lease payments)- it gives me the same figure whether its in BGN or END mode…

Can somebody pls confirm.

So, say CF1 = 5, CF2=10, I=6% , **NPV (BGN) = 13.616**

So, say CF1 = 5, CF2=10, I=6% , **NPV (END) = 13.616**

It seems that when the problem asks for BGN , i will have to use the Annuity formula (as provided in the CFA mock solution)