HP Financial Calculators » HP 10bII+ » Getting Started » HP10BII Calculation Example 3

Let’s walk step-by-step on how to solve for each financial variable. If you do not get the correct answers to these, go back and check your work by using the {RCL} (Recall) key, for instance, hit {RCL}{N} to find out what you have in your calculator for {N}, and so on. If the number is not correct, just simply re-input the number that is incorrect and go on from there. We will start with solving for {PMT}, as that is the easiest.

Important Note: It is very beneficial to use a piece of scratch paper when figuring out financial calculations. You will want to write at the top of the paper the 5 variables: N, I, PV, PMT and FV, as listed below. Then, write in each column the numbers that will be entered into each variable. Once that is done, go ahead and do the problem itself. Click here to read more about TMV key.

Now lets try solving for I (I/YR).


{N}


{I}


{PV}


{PMT}


{FV}


240


? (empty)


$175,000


$-1,349.59


0

The only number that changes here is PV. So, change PV to $175,000 and solve for I, the answer you should get is 6.93%.

If you did not get the above answer, click on this link to learn how to set the number of period(s) in a year.

Updated On: 13.03.01

  1. On 10-Apr-2013, Deborah wrote: 
    I keep getting a "no solution" error message when I try to solve for interest rate. I have the calculator set for 1 pmt/yr as suggested and I used the negative sign preceding the payment amount but still get the error.
    Your reply to Deborah

  2. On 10-Jul-2012, Railya wrote: 
    When I try to solve for {I} and for {I/YR}I get a message ’No solution’. Do I have to do any setup before trying to use this functions?
    Your reply to Railya
    • On 10-Jul-2012, Anonymous replied: 
      Must enter a negative value into PMT. To do that, type 1349.59 then press the {+/-} key.
      Your reply to Anonymous

  3. On 10-Jul-2012, Railya wrote: 
    When I try to enter the same values for this problem and solve for {I}, I get a message ’No solution’. Do I have to do some setup for {I} before trying to solve for it?
    Your reply to Railya

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