Intere T Conver Ion - Casio CLASSPAD 330 3.04 User Manual

15-6 Intere t Conver ion

Interest Conversion lets you calculate the effective or nominal interest rate for interest that is
compounded multiple times during a year.
Intere t Conver ion Field
The following fields appear on the Interest Conversion calculation page.
Field
N
EFF
APR
Example 1
What is the annual effective interest rate ([EFF]) on a certificate that offers a nominal interest
rate of 3% ([APR]), compounded quarterly (N = 4)?
15-6-1
Interest Conversion
Number of times interest is compounded per year
Effective interest rate (as a percent)
Nominal interest rate (as a percent)
20060301
De cription