Free tool · live answer
Time value, NPV, IRR, bonds and loan EMIs, with BA II Plus keystrokes.
C01 comes one period after CF0. Use "Times" when the same amount repeats in a row, e.g. ₹4,000 three times.
The short version
Quick answer: A financial calculator solves money-and-time problems: savings, loan EMIs (monthly instalments) and bond prices. Each answer shows the BA II Plus keystrokes. The CFA® exam allows only a physical BA II Plus or HP 12C.
Guide
The five keys, and everything after
It covers the maths-heavy parts of CFA® Level 1. That means single sums, annuities (a run of equal payments), uneven cash flows, bonds and loans. Type what you know and it finds the missing number.
Speed matters too. CFA Level 1 has 180 questions in 2 sessions of 135 minutes each. That is about 1.5 minutes a question (CFA Institute, checked October 2026).
TVM means time value of money: ₹100 today beats ₹100 next year, because today's money can earn interest. Enter any four of N, I/Y, PV, PMT and FV, and the calculator solves the fifth. Think of a balance scale: money out on one pan, money in on the other, and the rate balances them.
| Key | Plain meaning | Example (illustrative) |
|---|---|---|
| N | Number of periods | 10 years |
| I/Y | Interest rate a year, in % | 8 |
| PV | Present value: money today | −1,000 (you invest it) |
| PMT | Payment each period | 0 (no yearly payments) |
| FV | Future value: money at the end | 2,158.92 (you receive it) |
In short: give any four keys and it finds the fifth; the signs show which way money moves.
On the BA II Plus: 2ND [CLR TVM], 10 [N], 8 [I/Y], −1000 [PV], 0 [PMT], [CPT] [FV]. Type 1000, then press [+/−]. Illustrative: ₹100 a year for 5 years at 10% is worth ₹379.08 today in END mode. In BGN mode it is ₹416.99.
NPV (net present value) adds every cash flow after shrinking it to today's money at your required rate. Positive NPV means the project beats that rate. IRR (internal rate of return) is the rate that makes NPV zero. Payback is how long it takes to get your outlay back.
Illustrative: invest ₹10,000 and get ₹4,000 a year for 3 years. At 10%, NPV is −₹52.59 and IRR is 9.70%. Simple payback is 2.5 years. Discounted payback (payback using today's-money values) is never reached.
When signs flip more than once, there can be two IRRs. −₹1,000, +₹2,300 and −₹1,320 have IRRs of 10% and 20%. This tool lists both; trust NPV here.
A bond's price is the present value of its coupons (regular interest payments) plus its face value. YTM (yield to maturity) is the yearly rate that makes those cash flows equal the price. When yields rise, prices fall.
Illustrative: a 5-year, ₹1,000 bond with a 7% half-yearly coupon pays ₹35 every six months. At an 8% YTM it is worth ₹959.45. With P/Y set to 1, work in half-years: 10 [N], 4 [I/Y], 35 [PMT], 1000 [FV], [CPT] [PV].
Its modified duration is 4.12, so a 1 percentage point rise in yield cuts the price by about 4.12%.
An amortisation schedule splits each EMI (equated monthly instalment) into interest and principal. Interest is charged on the balance still owed, so early EMIs are mostly interest.
Illustrative: a ₹10,00,000 loan at 9% for 20 years has an EMI of ₹8,997.26. The first 12 EMIs pay ₹89,240.01 of interest and repay ₹18,727.10. Total interest over 20 years is ₹11,59,342.29. On the BA II Plus, compute PMT, then press 2ND [AMORT] with P1 = 1 and P2 = 12.
Only approved physical calculators. Phones, apps and websites like this one are not allowed. GARP (the Global Association of Risk Professionals) runs the FRM® exam.
| Exam | Calculators allowed | Source |
|---|---|---|
| CFA® Program (all levels) | TI BA II Plus (incl. Professional); HP 12C (incl. 12C Platinum, Platinum 25th anniversary, 30th anniversary and Prestige) | CFA Institute calculator policy, page updated 12 Jan 2026 |
| FRM® (Part I and Part II) | TI BA II Plus (incl. Professional); HP 12C family; HP 10B II, 10BII+ and 20B | GARP FRM exam policies |
In short: both exams accept the BA II Plus, so one set of keystrokes covers CFA and FRM.
A model not on the list voids your CFA result, and GARP does not grade the exam. CFA Institute lets you keep keystroke cards and spare batteries, but not the manual. See CFA exam dates and FRM exam dates.
Money you pay out is negative (−); money you receive is positive. In TVM, P/Y (payments a year) and C/Y (compounding a year) stay equal, and I/Y is always the yearly rate. In cash flows, CF0 is today; use "Times" for repeats.
The maths runs in your browser. Each answer shows matching BA II Plus keystrokes; amortisation can differ in the last decimal. Practise here, then repeat on your own calculator. See the BA II Plus guide.
FAQs
Yes. The answer shows straight away. To see the full working (keystrokes, tables and a PDF) the first time, we ask for your name, email and phone. After that, every calculation on this device shows straight away.
No. CFA Institute allows only two physical models. They are the Texas Instruments BA II Plus (including the Professional) and the HP 12C (including its Platinum, anniversary and Prestige editions). Use this tool to practise keystrokes and check answers, then sit the exam with your own approved calculator.
Financial calculators use a sign rule: money you pay out is negative and money you receive is positive. If you invest ₹1,000 today, PV is −1,000 and the FV you get back is positive. If every amount has the same sign, there is no answer.
P/Y is payments per year and C/Y is compounding periods per year. For monthly EMIs, both are 12. This tool keeps them equal, so the rate per period is I/Y (the yearly rate) divided by P/Y.
END mode assumes each payment comes at the end of the period, as with most loans and bonds. BGN mode assumes it comes at the start, as with rent or an annuity due (equal payments made at the start of each period). BGN gives a higher present value, because each payment arrives one period sooner.
They should, to the decimals shown, when you enter the same values and settings. The BA II Plus shows 2 decimals by default; press 2ND [FORMAT] to show more. Amortisation figures can differ in the last decimal because of rounding.
For practice only; not investment advice. BA II Plus is a trademark of Texas Instruments; QuintEdge is not affiliated with Texas Instruments. CFA Institute does not endorse, promote or warrant the accuracy or quality of the products or services offered by QuintEdge. CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute. GARP does not endorse, promote, review, or warrant the accuracy of the products or services offered by QuintEdge of FRM® related information, nor does it endorse any pass rates claimed by the provider. Further, GARP is not responsible for any fees or costs paid by the user to QuintEdge nor is GARP responsible for any fees or costs of any person or entity providing any services to QuintEdge. FRM®, GARP®, and Global Association of Risk Professionals™ are trademarks owned by the Global Association of Risk Professionals, Inc.
