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The Time Value of Money - Calculator Problems

KBaltazarKBaltazar Los AngelesPosts: 8 Associate
edited October 2014 in CFA Level I
Hello,
 My calculator is giving me a different answer from the book. I am using a Texas Instruments BA II Plus.

Answer in the book
€100,000 = €35,000[1 + (0.05/12)]12N so 12N = 252.48 months


How I calculate the answer
(ln(100000/35000))/ln((1+(0.05/12)))= 12N

But I do it separately in the calculator please let me know if I am wrong

ln(100000/35000) = 1.05
ln((1+(0.05/12)) = 0.04

1.05/.04 = 26.25

Someone please help I don't know what I'm doing wrong with this calculator. Something tells me it's easy but my brain doesn't want to cooperate today lol.

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