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  1. #1
    Registered User Ace Thedics's Avatar
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    Finance majors (will rep)

    I have a question about interest rates compounded daily

    An investment will pay you $58,000 in seven years. If the appropriate discount rate is 10 percent compounded daily, the present value is

    I know I have this as a formula

    PV = $58,000 / [(1 + .10/365)7(365)] =

    How do I do compounded (division of 365) with a financial calculator?

    With a BA II financial calculator?
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  2. #2
    Zero Supplementation TurkBrah's Avatar
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    the imput for how many times its compounded should be 7*365 IIRC

    just try various compounding amt to get the answer you get from equation.;
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  3. #3
    I am Powerlifter the next arnold's Avatar
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    FV = 58,000
    i/y = 10%
    p/y = 365
    n = 2555

    hit CPT and you should get ~28k

    Using TI BAII+
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  4. #4
    Registered User Ace Thedics's Avatar
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    Originally Posted by TurkBrah View Post
    the imput for how many times its compounded should be 7*365 IIRC
    I'm gonna try this right now.

    This is, 1.10 should be divided by 365 too. Should I just put that in as I/Y? (1.10/365)
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  5. #5
    Registered User Ace Thedics's Avatar
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    Originally Posted by the next arnold View Post
    FV = 58,000
    i/y = 10%
    p/y = 365
    n = 2555

    hit CPT and you should get ~28k

    Using TI BAII+
    Thanks man.

    repped every1

    edit: will come back after recharge
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  6. #6
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    Originally Posted by Ace Thedics View Post
    I'm gonna try this right now.

    This is, 1.10 should be divided by 365 too. Should I just put that in as I/Y? (1.10/365)
    I/Y would be 10/365. It's input as a percent. So the nominal rate (10%) divided by the mthly period (m=365).
    *Only post when drunk crew*
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  7. #7
    There is an idea of... mmtj's Avatar
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    29,763,17
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  8. #8
    Registered User Ace Thedics's Avatar
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    Originally Posted by janis_t View Post
    29,763,17

    close, it's 28k

    Originally Posted by the next arnold View Post
    FV = 58,000
    i/y = 10%
    p/y = 365
    n = 2555

    hit CPT and you should get ~28k

    Using TI BAII+
    one more thing, how exactly do you do this?

    Im hitting 2nd + py and it's not taking the value, keeps turning into 1.000000
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  9. #9
    I am Powerlifter the next arnold's Avatar
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    2nd - P/Y - 365 - Enter - 2nd - Quit
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  10. #10
    There is an idea of... mmtj's Avatar
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    Woops, your right, didn't compound daily

    28,788,93 then
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  11. #11
    Registered User Ace Thedics's Avatar
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    Originally Posted by the next arnold View Post
    2nd - P/Y - 365 - Enter - 2nd - Quit
    Awesome
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  12. #12
    Registered User Ace Thedics's Avatar
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    Phil can afford $180 a month for 5 years for a car loan. If the interest rate is 8.6 percent, how much can he afford to borrow to purchase a car?

    Pretty stumped on this one.

    What exactly am I solving for? PMT?
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  13. #13
    There is an idea of... mmtj's Avatar
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    8753
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  14. #14
    Registered User Ace Thedics's Avatar
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    Originally Posted by janis_t View Post
    8753
    Can you tell me what you're doing here? (thanks btw)
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  15. #15
    Registered User Ace Thedics's Avatar
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    bump
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  16. #16
    There is an idea of... mmtj's Avatar
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    You solve the Loan by using the PV Function, not PMT

    Loan = 180 * (1 - (1 + 0.0071666)^-60) / 0.0071666 = 8752,85 -> ~ 8753

    i per month : 0.086/12 = 0.0071666
    payments: 5*12= 60 months
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  17. #17
    I am Powerlifter the next arnold's Avatar
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    Originally Posted by Ace Thedics View Post
    Can you tell me what you're doing here? (thanks btw)
    Using a BA2+

    N - 60
    I/Y - 8.6
    P/Y - 12
    PMT - 180

    CPT - PV

    = 8752.84
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  18. #18
    Registered User LayGord's Avatar
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    Accounting > Finance



    (not srs)





















    srs
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  19. #19
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    Originally Posted by ace thedics View Post
    i have a question about interest rates compounded daily

    an investment will pay you $58,000 in seven years. If the appropriate discount rate is 10 percent compounded daily, the present value is

    i know i have this as a formula

    pv = $58,000 / [(1 + .10/365)7(365)] =

    how do i do compounded (division of 365) with a financial calculator?

    With a ba ii financial calculator?
    58000 fv
    10/365 int
    7 * 365 n
    pv

    Oh yeah, HP 12C is better.
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