HP Forums / HP Museum Forums / Old HP Forum Archives v / 14b is not calculating PMT correctly

Linear Mode
14b is not calculating PMT correctly


▼
Post: #13
12-20-2011, 04:51 PM
Eric Peltier Offline
Unregistered
Posts: 5
Threads: 1
Joined: Dec 2011

14b is not calculating PMT correctly. I have a 14B 50th Aniv Edition. I am a mortgage professional, so, I calculate PMT quite a bit. It has suddenly started calculating PMT incorrectly. I have checked it against several sources. Any ideas why? Is there a setting that got messed up? Thanks in advance!

Find
▼
Post: #14
12-20-2011, 05:05 PM
Raymond Del Tondo Offline
Unregistered
Posts: 1,841
Threads: 54
Joined: Jul 2005

Did you try again after a reset of the calc?

Find
▼
Post: #15
12-20-2011, 05:26 PM
Eric Peltier Offline
Unregistered
Posts: 5
Threads: 1
Joined: Dec 2011

I'm not sure how to reset it. I took the batteries out for 10 minutes and that did not fix it.

Find
▼
Post: #16
12-20-2011, 05:38 PM
Eric Peltier Offline
Unregistered
Posts: 5
Threads: 1
Joined: Dec 2011

I found instructions online on how to reset it. It did not help.

Find
Post: #17
12-20-2011, 05:10 PM
Geoff Quickfall Offline
Unregistered
Posts: 1,083
Threads: 126
Joined: Sep 2006

Not a finance guy, but doesn't the PMT depend on the payment schedule.

That is, is there a flag that toggles Canadian to American style, another that calculates end of payment period or beginning?

In other words, if it worked correctly out of the box, then try the reset suggested as this would reset all the applicable states.

Geoff

Find
▼
Post: #18
12-20-2011, 05:39 PM
Eric Peltier Offline
Unregistered
Posts: 5
Threads: 1
Joined: Dec 2011

I agree, this may be part of the problem. But I do not have the instructions....

Find
▼
Post: #19
12-20-2011, 08:18 PM
Gene Wright Offline
Unregistered
Posts: 1,545
Threads: 168
Joined: Jul 2005

and that will help us see if the 14b is giving wrong answers. If so, it is always possible it has bit the dust.

But easier to tell if you give very complete examples. :-)

Find
Post: #20
12-20-2011, 05:45 PM
Jose Gonzalez Divasson Offline
Unregistered
Posts: 95
Threads: 31
Joined: Oct 2009

I was desperate with the same problem with my 12c - I wasn't able to reproduce my mortgage numbers froim the bank. At the end it was all about being in BEG mode instead of END!

In other models it may have to do with the number of oeriods per year.

Find
▼
Post: #21
12-20-2011, 06:21 PM
Don Shepherd Offline
Unregistered
Posts: 1,392
Threads: 142
Joined: Jun 2007

Yeah, for loans you want to be in END mode. You will get the wrong payment amount if you are in BEGIN mode.

Find
Post: #22
12-20-2011, 08:42 PM
Allen Offline
Unregistered
Posts: 562
Threads: 27
Joined: Oct 2006

Almost all the problems I've had like this ended up being the P/YR setting was off.

This happens on the HP10b as well.

Press RCL SHIFT PMT and you should get P/YR=12.00
You can change to 26 Payments per yr by typing 26 STO SHIFT PMT

If you hold ON+N+SIGMA at the same time, The P/YR will get reset to 12.


If this does not work, type here your 5 FIN variables so we can recreate the issue.

E.g. ( I=4%, PMT=360, PV=1000, FV=0 ----> PMT= -4.77 )

Find
▼
Post: #23
12-21-2011, 10:42 AM
Eric Peltier Offline
Unregistered
Posts: 5
Threads: 1
Joined: Dec 2011

Allen

The ON+N+SIGMA worked! Somehow, the darn thing got set to 10 payments a year. I'm not sure how, since it just sits on my desk, not banged around a bag or anything. Thanks!!!!

Find
▼
Post: #24
12-21-2011, 11:04 AM
Neil Hamilton (Ottawa) Offline
Unregistered
Posts: 255
Threads: 22
Joined: May 2011

I don't have a 14B but on my ancient 10B, when you clear the TVM registers using the [SHIFT] CLEAR_ALL sequence, it briefly displays the P_Yr value.

Do you never clear your TVM registers?

(It could be that this clears EVERYTHING on this machine. I am not sure. I bought it as a red-shirted "expendable crew member" so I could learn how to dismantle Pioneer calculators. Don't use it very much -- much prefer my (several) 17Bii's running in RPN mode!)

Find

Forum Jump: