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...Finding the IRR on an hp 10BII calculator?
I am trying to figure out how to use my financial calculator to find the IRR for a particular project... I found an example so I could see if I got the correct answer using the calculator but my number was way off. I've read through the user's guide and I can't seem to figure out what I'm doing wrong...
My initial cash flow is ($3,000) with a payout over the next 4 years of: $1,500, $1,200, $800, & $300 respectively.
I did the following to get my answer:
1. I pressed the orange shift and clear key to clear all prior entries.
2. I pressed 4, then orange shift P/YR.
3. I entered 3,000, hit the +/- key, followed by the CF key.
4. I entered 1,500 followed by the CF key, 1,200 followed by the CF key, 800 followed by the CF key, and lastly 300 followed by the CF key.
5. I then pressed the orange shift followed by IRR/YR.
My answer came out to 52.6%. The answer should have been 13.1%.
Can anyone figure out what I'm doing wrong?
1 Answer
- AQuestionMarkLv 71 decade agoFavorite Answer
Press Shift C to clear the financial keys.
enter +/- 3000 CF
enter 1500 CF
enter 1200 CF
enter 800 CF
enter 300 CF
press Shift CST