Clearing The Iconv Variables - HP -18C Owner's Manual

Figure 4-12_ Shared Variables
TVM
ICONV CFLO
I
EFFCT
CO NT
I
I
NOM% EFF%
P
NOM% EFF%
t
Shared variables
t
Clearing the ICONV Variables
NOM%, EFF%, and P are cleared when you enter the
ICONV
menu .
Pressing
.1
CLEAR ALL
I
in the
EFFCT
or
CONT
menus clears NOM%
and EFF% . In the
EFFCT
menu, P is also cleared.
Example: Converting from a nominal to an effective interest
rate. You are considering opening a savings account in one of three
banks. Which bank has the most favorable interest rate?
Bank #1 6.7% annual interest, compounded quarterly
Bank #2 6.65% annual interest, compounded monthly
Bank #3 6.65% annual interest, compounded continuously
78 4: Time Value of Money