YieldraCount the payments and their dates
For twelve monthly END payments, the regular payments occur at months 1 through 12. For twelve BEGIN payments, they occur at months 0 through 11. Both have twelve payments, but the cash moves at different times.
Do not select BEGIN merely because a problem mentions today's date. A loan can be advanced today while its first payment is due a month later. Identify the first payment, not just the first event.
Compare the same hypothetical loan
Use PV = +1,200, FV = 0, twelve payments and a monthly interest rate of 0.5%. The END payment is about −103.28. Moving the twelve regular payments one period earlier produces a BEGIN payment of about −102.77.
In this matched example, the BEGIN payment equals the END payment divided by 1.005. The smaller magnitude reflects earlier payments, not a better interest rate. Deposit and withdrawal examples require the same care about viewpoint and dates.
Keep the timing setting with your notes
When checking a worked answer, record N, rate, PV, PMT, FV and the payment mode together. A screenshot of only PMT hides a setting that can explain the discrepancy.
Yieldra exposes BGN or END alongside separate frequency settings. On a physical calculator, use its own guide to confirm how to read and change the mode; clearing financial registers may not reset every worksheet setting.
- Mark an immediate payment at time zero.
- Keep a deposit or fee separate unless the model explicitly combines it.
- Check timing again when reusing an old problem.