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After you attempt to calculate the interest rate, you will see the error 5 message. P/Y is 1 and C/Y is 1.                               Enter (or Set) Usually it was because I accidentally hit a wrong button, but it happened frequently enough that I decided to figure what caused the error message in the first place. -> C/Y= 1.00, [But, sometimes we may want to have different value for P/Y and C/Y. Calculate the interest rate by pressing CPT and then I/Y.           What are the Best CFA® Mock Exams to Use? Financial Analyst Insider is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising to and linking to Amazon.com and affiliated sites. Press 2nd P/Y and input “12” (for 12 payments per year). The error 5 message is triggered when No Solution Exists for the value you are trying to calculate. on/off key.                               Kevin is a dynamic and self-motivated information technology professional, with a Thorough knowledge of all facets pertaining to network infrastructure design, implementation and … So what is the interest rate on my mortgage? This chapter describes the basic operation of your BA II PLUS™ calculator, including how to: † Turn on and turn off the calculator † Select second functions † Read the display and set calculator formats † Clear the calculator and correct entry errors † Perform math and memory operations † Use the Last Answer feature † Use worksheets 1 Enter (Set) You will see I originally took out a 30 year, $200,000 mortgage on the property. done in (1)). Here are ways to reset a financial calculator. BASIC STEPS IN TEXAS INSTRUMENTS BA II PLUS CALCULATOR. To set payment per year (P/Y) and compounding per year (C/Y) The calculator will always set the P/Y and C/Y to 12 each time the calculator is reset (as done in (1)) automatically reset the calculator to two decimal places and the calculator will assume payment per year (P/Y) and compounding per year (C/Y), The calculator will always set the P/Y and C/Y to 12 each time the calculator is reset (as In our mortgage example, we forgot to include a negative sign in front of the monthly mortgage payments. When using the Time Value of Money, Cash Flow, or Bond worksheets, the logarithm input is not greater than 0 when you try to calculate the value. To check that, while the screen shows P/Y=1, simply press down  arrow key next to the Check the How to clear/reset calculator 2nd Reset (or +/-) ->RST ? BASIC STEPS IN TEXAS INSTRUMENTS BA II PLUS CALCULATOR, 2nd Reset (or +/-) The present value problems require you to correctly label all cash inflows as positive and all cash outflows as negative. screen This chapter describes the basic operation of your BA II PLUS™ PROFESSIONAL calculator, including how to: • Turn on and turn off the calculator • Select second functions • Read the display and set calculator formats • Clear the calculator and correct entry errors • Perform math and memory operations • Use the Last Answer feature Enter “200,000” and press PV (which represents the mortgage amount), Input “926” and press PMT (represents the monthly mortgage payments). 2. ->P/Y= 12.00, b). The easiest way to understand the error message is with an example. There are two more categories of calculator inputs that could cause an error 5 message: The error 5 message can actually be helpful for you. This error message actually provides you with a not so subtle clue that you most likely forgot to label one of your cash flows as a negative. I’ll start by showing you the wrong way to do this problem which causes the error 5 message.   If you think through the logic of the problem, usually you can figure out which input is most likely the negative cash flow value. 2nd Quit (or Cpt), 3. A: There are two ways to reset the calculator. Reset Method 1: Press 2nd +|-(that is RESET) and then ENTER. ->RST  0.00, 2. ->P/Y= 1.00. In the Cash Flow worksheet, when solving for the internal rate of return, you forget to include at least one negative cash flow in the list you are solving. You should only do this in case the calculator malfunctions. How to Reset/Resetting Your TI BA II Plus Calculator - YouTube We enter its new value of 2 and press enter to store it. If your taking the CFA exam, don’t miss this detailed BA II plus calculator tutorial for the CFA exam: The monthly payment on my condo is $926. To clear Most problems are due to user error, but there certainly are times that call for a factory reset. 2nd P/Y (I/Y) The monthly payment on my condo is $926. They are set as follows: a). Input “360” and press N (12 payments per year x 30 years). This article may contain affiliate links to products from one or more of our advertisers. Q: How do I reset the TI BAII Plus? Then we Page 1 BA II PLUS™ Calculator...; Page 2: Important Information Important Information Texas Instruments makes no warranty, either express or implied, including but not limited to any implied warranties of merchantability and fitness for a particular purpose, regarding any programs or book materials and makes such materials available solely on an "as-is" basis. While I was studying for the CFA exam, I periodically received an error 5 message while practicing time value of money problems on the BA II plus calculator. 1. Calculating Basic Loan Interest with BA II Plus.                     =12 but C/Y =2. end of period payments (ordinary annuity). Therefore the In order to do we repeat step (a) and change P/Y to 12. Say for I originally took out a 30 year, $200,000 mortgage on the property. Say we want P/Y But the value will be Sometimes it is necessary to change them to other values besides 12. That should clear everything out. By setting P/Y to 1, we automatically set C/Y to one.

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