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Identify the state that belongs to the exercise
The TVM variables are N, I/Y, PV, PMT and FV. Payment frequency, compounding frequency and payment timing are additional inputs to the model. A new exercise should state both groups; clearing values alone does not specify the intended timing.
Clear the previous values
Use the calculator’s printed secondary-function labels. The procedure below clears TVM values, then inspects the other settings rather than relying on a factory-default assumption.
- Clear the five TVM values2ndCLR TVM
N, I/Y, PV, PMT and FV return to zero.
- Inspect the payment frequency2ndP/Y
Read the stored P/Y value; enter the value required by your exercise.
- Inspect compounding after setting P/Y↓
Read C/Y and set it explicitly if the exercise requires a different frequency.
- Return and inspect payment timing2ndQUIT2ndBGN
Check the worksheet’s END or BGN state. Use 2nd then SET only if a change is required; 2nd then QUIT exits.
Record an intended annual state
For an annual end-period exercise, explicitly choose P/Y = 1, C/Y = 1 and END. A monthly or quarterly exercise may require another state. The fact that a previous question used one setting is not evidence that the next should use it.
| Variable | Value | Meaning |
|---|---|---|
| P/Y | 1 | One payment interval per year |
| C/Y | 1 | Annual compounding |
| END/BGN | END | End-period recurring payments |
Keep clearing and full reset separate
A full calculator reset also changes other stored information and formats. It is unnecessary for many single-exercise checks. Before replacing a state, record any values you still need. This guide specifies the intended exercise state rather than asserting one universal default for every model revision.