How To Calculate Effective Annual Rate (Ear) Using The Casio Fx-9860Gii - Casio fx-9860GII Instruction Manual

3. Press w (Compound Interest).
4. On this screen, n = number of interest periods,
I% = annual interest rate, and PV = principal or present
value. Since she has not made an investment yet, the
PV is 0. PMT = the payment. Amy will invest $100 (-100)
each month. Therefore PMT will be -100 x 12. Enter 0
for FV, since that will be calculated. Enter 1 for P/Y since
interest is compounded annually. Then press
5. Amy saves $113803.59 in her annuity over 35 years.
(4b)

How to calculate effective annual rate (EAR) using the Casio fx-9860GII

Benny's credit card APR is 26.55% compounded daily. What is his actual interest rate per
year—that is, his EAR?
1. From the main menu, highlight the TVM icon
and press l
press d until it does. This occurs when the last
operation performed on the calculator was in the same
menu.)
2. Choose y (Conversion).
. (If the correct screen does not appear,
y (FV).