Sharp PC-1500 Applications Manual page 95

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SHARP
PROGRAM
T I TL E
I
Outline
I
COMPOUND ANNUITY RATE CALCULATION
PROGRAM NO.
PS- 0-4
This program c(l!culatcs the current compound ann uity rate at the encl and
beginning of a term , as well as the outstanding amo unt at each term end .
I
Operat ing Guide
I
!cu l
[TI ·
I.
Tenn end outstanding amount input
2. Interest input
3.
Term in put
4. No. o f installments input
5.
Interest calculation
6.
Term calculation
fo.,1 [!] ·
I . Calculat ion of current price payable at term end
2. Calculatio n of current price payable at term beginning
1 ..,1 0 ·
I. Outstanding amount at term end
I
Example)
I.
Determine the current annuity payable in
9
years with
90,000
at t he end of
a
6-month term, and an interest rate of 5 %.
2.
Detennine the current annuity payable in
9
years with
90,000
at t he beginning
o f
a
6-month term, and an interest rate of
5 %.
3.
Amount of five million loan is made at an interest rate of
8
%
(t wo settlements
per year), and repaid in 5 year installments at 6-month compound interest.
Wha t is an installmen t at term end?
· Interest unit:
I
(Fractions are rounded-off.)
(Note :
I
and
2
arc dete rmined simultaneo usly so that they can be com pared.)
( Contents
I
(Formulas)
Interest rate" Interest rate+ No. of installments · I
00
- n
Y = I - (Interest rate+ I)
n = Installment term
Current price al term
end = Outstanding amount
x Y
+ Interest rate
Current price at term beginning = Outstanding amount
x Y
+ In terest rate
x
(Rate+ I )
Outsta nding amount at term end = Outstanding amount
x
In terest rntc
+
Y
(Fractions of amo unts arc rounded-off.)
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