@bjw699
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Up3
If the Z terms are not the same, the TVM functions won’t help you since they only allow for 1 discount rate. You need to set up the equation in terms of each period’s discount rate.
Up3Prash, you can’t use the TVM functions of an HP12C for problems with more than one discount rate.
Up2I found the PM session to be much easier than the AM session. I wonder if all test centers administer the same 120 questions at the same time or if perhaps the “easier” part was given to some in the AM and others in the PM.
Up22 weeks later, still waiting. All my cohort are now charterholders. Why am I being held up?
Up1OK. I figured it out. I was right it was silly and easy. Use the distributive property. All the PMT/(1+Z) terms can be rewritten as PMT x (1/1+Z1) + PMT x (1/(1+Z2)^2) + … PMT x (1/(1+ZN)^N + 100 x (1/(1+ZN)^N. All the 1/1+Z terms can be grouped so you get PMT ((1/1+Z1) + (1/(1+Z2)^2 + etc.) + 100 x (1/(1+ZN)^N = 100. The last term is the face value discounted for N periods. Solve all the 1/Z terms and the 100/(1+ZN)^N. So you get PMT = (100 – (100/(1+ZN)^N))/(the sum of all the 1/1+Z terms)
Sorry if I wasted anyone’s time.
