Kconversion Mode - Casio FC-100V User Manual

A Calculation Formulas
a
: Interest portion of payment PM1 (INT)
= I BAL
INT
PM1
b
: Principal portion of payment PM1 (PRN)
PRN
PM1
c
: Principal balance upon completion of payment PM2
(BAL)
= BAL
BAL
PM2
d
: Total principal paid from payment PM1 to payment PM2
(ΣPRN)
Σ
PM2
PRN = PRN
PM1
e
: Total interest paid from payment PM1 to payment PM2
(ΣINT)
a b
• + = one repayment (PMT)
Σ
PM2
INT = INT
PM1
BAL = PV
0
INT = 0
1
Converting between the Nominal Interest Rate and
Effective Interest Rate
The nominal interest rate (
converted to an effective interest rate (
loans where the number of annual payments is different
from the number of annual compoundings calculation
periods.
I%' =
The following calculation is performed after conversion from
the nominal interest rate to the effective interest rate, and
the result is used for all subsequent calculations.
i = I%'÷100
k Conversion Mode
• The Conversion (CNVR) Mode lets you convert between
the nominal interest rate (APR) and effective interest rate
(EFF).
PM1–1
= PMT + BAL
PM2–1
+ PRN
PM1
+ INT
PM1
....................... Payment: End
PRN = PMT
,
1
{
(1+
100 × [C / Y ]
× i I × (PMT sign)
× i
PM1–1
+ PRN
PM2
+ ... + PRN
PM1+1
+ ... + INT
PM1+1
(Setup Screen)
... Payment: Begin
(Setup Screen)
I
% value input by user) is
I%
)
E-59
PM2
I
%´) for installment
}
[C / Y ]
[P / Y ]
×100
–1
PM2