Blazzok
New member
[MENTION=2530]Wyvern[/MENTION]
I think PV should be 2000 and then PMT should be 2000 as well? Since the first deposit is 2000?
Gimme a financial calculator so I can punch the numbers dang nabbit!
Threadkiller Mk XI
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I think PV should be 2000 and then PMT should be 2000 as well? Since the first deposit is 2000?
Gimme a financial calculator so I can punch the numbers dang nabbit!
Ike_009
Assassin of Accountants
Your payments are 2000 each month thus PMT will be 2000
Since he hasn't made any payments yet the present value is 0 (PV)
Since we arent using P/YR we need to make sure we are calculating the interest for that month. The annual rate is 6% for the year, therefore 0.5% for the month.
Lastly he makes 480 payments (40 years x 12 months)
edit
Interest is calculated monthly, therefore we need to work on monthly payments, thus 40 X 12 and 6% divided by 12
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matt
Local caffeine junky
I don't think so, all the contributions would be accounted for by PMT. You would only have a PV if it was an existing fund, or you made an up front contribution.
Wyvern
Khaleesi
Ike_009
Assassin of Accountants
What he said
Ike_009
Assassin of Accountants
Thank you! Now it makes sense.One day I should just buy you a crate of whiskey
If you set your calculator to 12 payments a year (Orange button for shift and then P/yr in orange) you can then leave N as 6%. Then for N you will type 40 then the orange button then N and it should say 480 on screen for the 480 months. You will then get the same answer as above.
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Blazzok
New member
I did the calculation with the formula in an excel spreadsheet and got the correct answer (I think?). If I can see a formula I can calculate it, unfortunately I don't know the functions or layout of fin calculators.
matt
Local caffeine junky
Ok I tried on https://epx.com.br/ctb/hp12c.php
And if I'm doing it right
n = 480 (480 months)
i = 0.5 (6% annual / 12)
PV = 0 (no current balance)
PMT = 2000 (monthly payment)
Then FV = -3,982,982.47
Which would suggest option 4 (again assuming I did it right)
And if I'm doing it right
n = 480 (480 months)
i = 0.5 (6% annual / 12)
PV = 0 (no current balance)
PMT = 2000 (monthly payment)
Then FV = -3,982,982.47
Which would suggest option 4 (again assuming I did it right)
Ike_009
Assassin of Accountants
Thats what I got also, but that is an ugly calculator.
TheAvenged87
Not Robin
[MENTION=395]Wenzdayz[/MENTION] You can phone your service provider to reset the PUK
Blazzok
New member
Yeah, same answer I got the other day, except it was positive :3
matt
Local caffeine junky
Check online, if you're on CellC, you can get it from https://www.cellc.co.za/my-account, click Phone on the left hand menu. Other service providers might also have something for you online, otherwise you can maybe call them and ask.
Ike_009
Assassin of Accountants
That shows its a negative cash flow. Technically the PMT should be -2000
Wenzdayz
Thread Killer Mk III
oohh, im gonna do that now. im with autopage and i thin the my account thing has an option like that! thanks Matt!!!
matt
Local caffeine junky
That's what the HP financial calculators looked like when I was in college. Are there new ones now?
Ya I remember that there was always an issue about what to make + and what to make -. I think it was that payments were - ????
Anyway, if it's something like this, I would ignore the sign because the answer would come out right anyway
matt
Local caffeine junky
Ike_009
Assassin of Accountants
I have this one
The sign thing only impacts a calculation when you are moving from an overdrawn (negative PV) to a positive balance
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Nimatek
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