The PV, FV, and PMT buttons are _ **cash flow** _ buttons. Which numbers are positive and which are negative depends on the point of view that you adopt.

If you look at this problem from the point of view of the company issuing the bonds, the borrower, then PV is positive (they receive money today from issuing the bonds), PMT is negative (they pay coupons), and FV is negative (they pay the par value at maturity).

If you look at this problem from the point of view of the bondholder, the lender, then PV is negative (they pay money today to purchase the bonds), PMT is Positive (they receive coupons), and FV is positive (they receive the par value at maturity).

I encourage you to decide on a point of view โ borrower or lender, it doesnโt matter โ and _ **always** _ adopt that point of view when working these problems. Youโll find that you make fewer mistakes that way.