The solve function works like this:
Y = X + 3
Then I press [solve]
The calculator then asks for the value of X.
I have been using fx-991MS over ten years and read the fx-991ES manual throughly.
This is the example from my finance class which is about discounting the value of a bond. It has face value of 1000 which can be redeemed in 10 years. The coupon rate is 8% paid annually. It is selling at $1231.65. And I want to find the Yield to Maturity ® which is in the discount rate.
I want to solve for "r" in the following equation using the trial-and-error method; because the textbook says that without a financial calculator I have to use trial-and-error. The exact answer for "r" is 0.05 which is 5%.
The equation below is the formula when you don't have a spreedsheet or a calculator with summation potential.
The real problem is this:
whenever I enter the left side as Y;
"t" on the right side as X;
"r" on the right side as A;
then I press [solve];
the calculator ask me every time the value of X and A.
I want to input only the value of "r" (A) so I can try different interest rates to find the correct value without transforming it into the formula below.
Can you guys comfirm this that there is no way this calculation can be done with this model?
Thank you for your help.
