I punch in “Market value of debt: FV = $10,000,000, PMT = $400,000, N = 10, I/YR = 13.65%. Solving for PV should give me “$7,999,688.”
However, for some reason, I get -4,896,931.505 and can’t figure it out. I have cleared my work and entered these 4 numbers into my Texas Instruments BA II Plus calculator and am wondering if it is a setting issue or what…but am scratching my head and hoping for some assistance on why I can’t get my calculator to spit out a seemingly simple TVM problem. Thanks.