University:
California State University, Northridge
Course:
FIN 355 | Corporate Finance
Academic year:

2020
Views:

474

Pages:

2
Author:

sonalhava9qv

Back to Assignment Attempts 1 Keep the Highest 1 / 1 3. Calculator Settings Number of Decimal Places There is no set rule about how many decimal places to display as different problems require different precision. Be careful when setting the number of decimal places, because rounding causes lost precision and may lead you to miss a problem. 0.00 TI BAII Plus image used with permission of copyright owner, Texas Instruments Incorporated. Text superimposed on product display by Cengage Learning, Inc. does not represent actual display output. To change the number of decimal places to six, press 2ND [FORMAT] 6 ENTER. Pressing 2ND [QUIT] returns you to the normal display screen. Check Your Understanding True or False: Incorrect settings for Begin/End mode and P/Y can cause material errors, but the decimal setting is purely cosmetic and will not affect the result the calculator gives you. False Explanation: Close Explanation This question is a little tricky. The decimal setting does not affect the operations performed or results achieved by the calculator, but it does affect what result the calculator displays. Suppose you solved for an interest rate and the calculator knew the answer was 0.0749, or 7.49%. If the calculator were set to two decimal places, your answer would be 0.07, or 7%, while the correct answer is nearly 0.5% higher.