Hi All, I’m having an issue calculating the future value of an annuity, it’s obviously due to a calculator setting I need to adjust. This is from p.13 of quant study session 2 in the stalla guides. PMT = 500 I/Y = 0.58333 N= 300 Calculate FV. Answer should be $405,033, but I’m receiving $450,836.17. Any ideas what I need to adjust on the calculator? Thanks for the help!
Set P/Y to 1, it may be on 12. I think you hit 2nd I/Y, and then 1 and enter. Alright, I tried that and it’s not the issue. Just try hitting zero for your PV, or clear the TVM calculations first.
Sheeeshh… I feel like a tool. You’re right, clearing TVM fixed this up. I must have entered that formula at least 8 times trying to get the right answer. From now on it’ll be “CLR TVM” after every question! Thanks!