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Question about quantitative practice problem level 1

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    • Avatar of qle212qle212
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        • CFA Level 1
        09 Mar 2023 at 8:46 pm
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        I have a question about practice problem 12 of the latest CFA level 1 study material for Quantitative:
        “A client requires $100,000 one year from now. If the stated annual rate is 2.5% compounded weekly, the deposit needed today is closest to:”

        Writing the equation out gives the right result, however, when I input it to my BA ii plus, it gives the wrong result.

        N = 52
        I/Y = 0.025/52
        FV = 100,000
        (Compute) PV = 99,975 ?

        The right answer is $97,532. My setting is correct, P/Y and C/Y is 1, END mode.

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