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FAQ Exam Which calculator do you recommend?

David Harper CFA FRM

David Harper CFA FRM
Staff member
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#21
Hi @lporfiris Yes, that is a safe assumption (GARP should "battery-test" all exam question) however please note that, in the case of the binomial pmf, the binomial coefficient can typically be simplified, and you would be expected to know how to do that. For example, the binomial probability of exactly 18 successes in 20 trials is given by p^18*(1-p)^2*20!/(18!*2!), but 20!/(18!*2!) is easily simplified because 20! = 20*19*18* 17 .... such that 20!/18! = (20*19*18*17* ...)/(18*17*... ) = 20*19, so 20!/(18!*2!) = 20*19/2 = 190. I hope that's helpful!
 

Nicole Seaman

Chief Admin Officer
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#24
Hello,

I would like to ask what calculator (out of the allowed ones), you would recommend?

Thank you,
Tereza
Hello @Tereza

Please note that I moved your question to this thread, where there is already a great deal of discussions on which calculators are recommended. Our search function in the forum is very useful for inquiries like this, as there is over a decade of FRM discussions in our forum. Many times, you will find that your question has already been answered. You can view more about using the forum here: https://www.bionicturtle.com/utilizing-the-bionic-turtle-frm-forum/. :)

Thank you

Nicole
 
#25
I am using BA II plus calculator and i am trying to find the future value using the data given below.
PV=100; I/Y= 10; N= 4 . Compute FV ?
But the answer i am getting is 100.4, while the correct answer is 146.41.
Is this because of some format settings in my calculator. Please help.
 

David Harper CFA FRM

David Harper CFA FRM
Staff member
Subscriber
#26
Hi @jayan7ec did you start by clearing the TVM worksheet? are you sure you are entering 10% interest, because it looks like you would get 100.4 if you entered .1% or something like this. This should work:
  • [2nd] [CLR WORK] ; i.e., clears
  • 4 [N]; display: N= 4.0000
  • 10 [I/Y]; display: I/Y= 10.0000 <-- are you sure?
  • 100 [+/-] [PV]; display: PV= -100.0000
  • 0 [PMT]; display: PMT= 0.0000 (optional, i think but i always do it)
  • [CPT] [FV]; display: 146.41000
of course, same as 100*1.1^4 = 146.41. I hope that helps,
 
#27
Yes, i cleared the tvm worksheet. Yes, the I/Y i inputted is 10. I even asked my colleague to do it. He is also getting the same answer on my calculator. The answer i am getting is 100.400600. But when i inputted I/Y as 1000, I am getting the answer as 146.41 . Is there some setting i need to change for I/Y ?
Thanks
 

David Harper CFA FRM

David Harper CFA FRM
Staff member
Subscriber
#28
sorry i've just never seen that problem (where an input of 1000 is treated as 10.0) .... i can't think of a reason ... i'd probably try a full reset of the calculator
 
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