SB for first person to solve this for me
I noticed when solving for n (number of periods) on the HP12c that it's rounding up to the nearest whole number.
Ex. if the amount of periods is really 10.24, it will tell you n=11.
Is there any way to get it to say the exact number of periods? Or can someone with the Platinum HP12c perhaps let us know if that calculator resolves this issue?
Thanks
whats a hp12c
Of course I know you know, but for the youngins:
http://www.leveragedsellout.com/2008/07/chartered-financial-banalyst/
I think you're looking to adjust the number of decimal places. If so, hit the f orange button and then the number of decimal places you want to see.
For example:
1.2345
f, 2 = 1.23
Nah, I'm already at 3 decimals
It's from a CFA sample - it asks at 7% return, how long will it take money to double
PV=-1 FV=2 i=7 PMT=0 n=solve
The CFA answer (correct) is n=10.24 (1.07^10.24=1.999)
HP12c just says n=11.000 though, and 1.07^11=2.105 (clearly too high...)
You will always receive an integer for n when using the TVM functions.
If you want an exact answer for n, you have to solve using natural logs.
2 = 1.07^n
ln (2) = n * ln (1.07)
ln (2) / ln (1.07) = n
n = 10.24
hp12c = preftige
Oh no not again...
I just tried it and got 11 too.
I hate these stupid questions when we can just use a goalseek on Excel and solve it in 5 seconds. You get 10.2445979360766 periods to give you a value of 1.99997694
I have no clue how to get the 12C to do that.
One thing to consider is that it will, assuming that you are counting in whole numbers, take 11 periods to double. You may end up with more than double after 11 periods, but you won't double with 10.
HP12c: 1/10th the functionality. 10x the badass.
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