Question

True or false: when using the time value of money features of a financial calculator, you should key in the interest rate as a decimal.

Answer 1

It is a false statement that you have to key in the interest rate as a decimal when using the time value of money features of a financial calculator.

What is the financial calculator?

It is an essential device that is designed to perform certain equations that a basic calculator can't handle, It is created with stand-alone keys not available on other types of calculators and this allows it to perform more direct calculations.

The time value of money features of a financial calculator entails the 5 major components of time value: namely; rates, time periods, present value, future value, and payments.

However, It is a false statement that you have to key in the interest rate as a decimal when using the time value of money features of a financial calculator.

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