Calculation Formulas - Casio CLASSPAD 330 3.04 User Manual

Example 2
What is the nominal interest rate ([APR]) on a certificate that offers an annual effective
interest rate ([EFF]) of 5%, compounded bi-monthly (N = 6)?
Tip
• You can change any value and then tap a button to recalculate.
Calculation Formula
APR/100
EFF = 1+
n
1
n
EFF
APR = 1+
100
15-6-2
Interest Conversion
n
–1 × 100
–1 × n ×100
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