I cant work my calculator

[custard]

okay,so im doing some stats work
i was working on it a couple of weeks ago but on a different calculator.
so is it me or the formula i have?

so its a mortgage payment formula

M= monthly repayment
P = principal(amount borrowed)
T = term of loan
K = 1 + R
100

R = interest rate

M = PKt (K-1)
12spaceKt-1


so for a £30K @ 8% over 25 years

Im inputting the formula (i used* for the power of)

(30000x1.08*25)/12)x(1.08-1)/(1.08*25-1)

now I was just checking the calculators functions and this is the example from the text
yet inputting the above gives a syntax error directed to the 1st *25 in the formula
am i missing something obvious here?
I know for some this will be basic stuff but its been many years for me

 

[dronenrs]

i got 234.20 to 2 decimal places with that exact equation.... does that sound about right ??

 

[custard]

i got 234.20 to 2 decimal places with that exact equation.... does that sound about right ??

yes,spot on!
so im guessing something isnt right on the calculator settings?
its a casio fx-85gt plus
in out the packet condition
on 'math' setting
dunno what i can change?

 

[Stu DemonD]

My calculator doesn't have a power button lol - has TAX-, TAX+ and EXCHANGE buttons though and 12 digits and large display

Ah, the joys of being an accountant

Can't you just use an online mortgage calculator...

 

[custard]

My calculator doesn't have a power button lol - has TAX-, TAX+ and EXCHANGE buttons though and 12 digits and large display

Ah, the joys of being an accountant

Can't you just use an online mortgage calculator...

lol,i wish
nah its for a report
i need to calculate the results using this specific formula (online calcs may give different results due to other factors)
so i need to have this formula working
I just wonder if something needs set on the calc, as i dont know why it insists theres an error with the power 25 part?

 

[Stu DemonD]

Ok, well let me dig out my old school Casio somewhere, that has all these functions on.

Will get back to you

*opens up some Pinot and decides to look for said calculator in a bit*

 

[custard]

okay,so im doing some stats work
i was working on it a couple of weeks ago but on a different calculator.
so is it me or the formula i have?

so its a mortgage payment formula

M= monthly repayment
P = principal(amount borrowed)
T = term of loan
K = 1 + R
100

R = interest rate

M = PKt (K-1)
12spaceKt-1


so for a £30K @ 8% over 25 years

Im inputting the formula (i used* for the power of)

(30000x1.08*25)/12)x(1.08-1)/(1.08*25-1)

now I was just checking the calculators functions and this is the example from the text
yet inputting the above gives a syntax error directed to the 1st *25 in the formula
am i missing something obvious here?
I know for some this will be basic stuff but its been many years for me

seem to have solved it
tried various settings
seems that on a setting that works,the calculator doesnt put a bracket after the power number is input
without that bracket,it gives an error
in settings where it does give the bracket,it gives a syntax error

 

[zanes]

Shove a set of brackets round the first 1.08*25, and round 25-1 in the last bracket. The calculator is giving an error as it is "unsure" whether to do (in the first case);

(30000x1.08)*25

or

30000x(1.08*25)

Essentially, the calculator will work out things inside the bracket first, then perform the operation on the value from the bracket.

 

[custard]

Shove a set of brackets round the first 1.08*25, and round 25-1 in the last bracket. The calculator is giving an error as it is "unsure" whether to do (in the first case);

(30000x1.08)*25

or

30000x(1.08*25)

Essentially, the calculator will work out things inside the bracket first, then perform the operation on the value from the bracket.

well it was a bit weird
on some settings after hitting power and the required number
it was putting the complete brackets
on other settings it was leaving an open bracket
all sorted now(i hope)
just got ot create the report and collate the data