Help with TI BAII Calculator

I am having trouble with my TI BAII calculator. For the following NPV problem, N= 2, I/Y=14%, PMT=600, NPV (according to Schweser ) = $988.00 According to my calculations NPV is $1179 (using TVM). Is there a setting on my calculator that needs to be changed? I know the right answer is $988.00 and arrive at the same inputing the individual cash flows. Thanks in advance.

do a 2nd CLR TVM (2nd FV button) before you enter the values. It does come to 988… even using the TVM calcs.

In the Library section of Schweser’s website, there is an hour tutorial on all the basic calculations using the TI BAII…

cpk123/go4it: Thanks for taking time out of your study schedule to answer the question. I had to change the P/Y on my calculator to 1 to fix the problem. I could not figure it out before I sent the email. Best

BTON From my experience with the TI BA II Plus – never change the P/Y setting ever. Instead increase no. of periods of compounding and reduce the I/Y corresponding – all the while keeping P/Y at its default setting of 1. That would work just as well, and you do not have to fool around with calc settings between calculations.