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Mechanic

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tT
发表于 2011-7-13 16:23 | 只看该作者

Preferred stock valuation

calculator, valuation, something, learning, instead
hi all,
CFA Vol 5, Reading 60, page 277. (first 6 lines on the page)
FV = 20
PMT (D) = 2
N = 12
I/Y = 4.1
CPT PV, i get 36.76, instead of the 31.01 in the text. my calculator is in the "END" mode. what am i missing, pls?
i get 36.6 for the annual payment, instead of 30.84.
am i confused? am i learning too much to miss something very easy?
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leadcfa

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2#
发表于 2011-7-13 16:23 | 只看该作者
I entered the values as given, and I get 31.01.

FV = 20
PMT = 2
N = 12
I/Y = 4.1
PV = -31.0104

This is on a BA II Plus Professional.

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agulani

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3#
发表于 2011-7-13 16:23 | 只看该作者
Oyster Wrote:
-------------------------------------------------------
> I entered the values as given, and I get 31.01.
>
> FV = 20
> PMT = 2
> N = 12
> I/Y = 4.1
> PV = -31.0104
>
> This is on a BA II Plus Professional.


I concur... Got the right answer.

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pacmandefense

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4#
发表于 2011-7-13 16:23 | 只看该作者
thanks a lot! i reset my BA II Plus professional; it worked for me this time. but i still can't figure out what happened to the "professional". can its settings change just like that and thus cause such a trouble? i'm just imagining the kind of "mess" this would create if it happened on june 4 (between 9am and 5pm)!

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dmar

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5#
发表于 2011-7-13 16:23 | 只看该作者
It's the P/Y setting on the calculator. 2nd > P/Y > 1 > Enter

Your calculator is decreasing your periodic interest value by half, so it is using P/Y=2 instead of P/Y=1. This happened to me in my Stalla live-class and I thought I was going to fail the Quant section....

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