Interest Rate Conversion - Casio FX-CG20 AU User Manual

6. Interest Rate Conversion

The procedures in this section describe how to convert between the annual percent rate and
effective interest rate.
u Formula
EFF = EFF =
APR = APR =
Press 5(CONVERT) from the Financial 1 screen to display the following input screen for
interest rate conversion.
5(CONVERT)
n
........... number of compoundings
I
% ......... interest rate
After configuring the parameters, use one of the function menus noted below to perform the
corresponding calculation.
• { 'EFF } ... {converts annual percent rate to effective interest rate}
• { 'APR } ... {converts effective interest rate to annual percent rate}
• An error occurs if parameters are not configured correctly.
Use the following function menu to maneuver between calculation result screens.
• { REPEAT } ... {parameter input screen}
n n
APR/100 APR/100
–1 × 100 –1 × 100
1+ 1+
n n
1 1
n n
EFF EFF
–1 × n ×100 –1 × n ×100
1+ 1+
100 100
7-12
APR
: annual percent rate (%)
EFF
: effective interest rate (%)
n
: number of compoundings