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Canon Financial Manager Instructions Manual page 22

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42
Operation
Display
Comments
12E)
18.26468661
Prmoipal paid
12th payment
GOB
Interest paid at
0(1]
65.379320 38
12th payment
Outstanding
128
9788.63337
principal after
12th payment
24E)
19.780646 59
Principal paid
at 24th payment
808
Interest paid at
0(1]
63.8633604
24 til payment
Outstanding
248
9559.723413
principal after
24tll payment
*
It is also possible
to
calculate the amount
ol interest paid at
a
specified payment
with a simple key operation as shown in
the example above.
c.
1) The final transaction savings balance
(FV),
the periodic interest rate
(i),
and the
number of payments periods
(N)
are cal-
culated using the
8 , 0 , 8,
and
0
keys. These calculations are based on the
following equations.
a) When the first payment is made in advance
or at the beginning of the first payment
period, use the BGN mode. Calculations
made in the BGN mode are based on the
following equation:
PMTx
1oo
r
, __ ,_·
N
1 ,
i
FV
i
I
(h 100) - 1 1 (h-100)
b) When the !irst payment is made at the end
o! the first payment period, use the END
mode. Calculations made in the END mode
are based on the following equation:
FV
PMTX
100
f ( __ ,_·
)N
1
i
tn1oo - 1
r
When: FV:
i:
PMT:
N:
The 1inal transaction value or
balance
The periodic interest rate
The amount of the payment or
installment
The number of payment peri-
ods or installments
43

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