Compound Interest - Casio fx-9860G SD User Manual

7-3 Compound Interest

This calculator uses the following standard formulas to calculate compound interest.
u u u u u Formula I
PV+PMT
Here:
PV= –(PMT
FV= –
PMT= –
n =
=
=
F i ) = Formula I
(
F(i)'=
u u u u u Formula II (I% = 0)
PV + PMT n + FV = 0
Here:
PV = – (PMT n + FV )
Compound Interest
(1 + i S) (1 + i)
i(1 + i)
+ FV
+ PV
PMT
PV + FV
{
(1 + i S ) PMT–FVi
log
(1 + i S ) PMT+PVi
log(1 + i)
n
(1 + i S) (1 + i) –1
n
i(1 + i)
1
n
(1+ i)
(1+ i S)[1– (1+ i)
PMT
–
i
–
–n
+S 1–(1+ i)
7-3-1
n
–1
+ FV
n
(1 + i)
PV
: present value
)
FV
: future value
PMT
: payment
n :
number of compound periods
I %
: annual interest rate
i
is calculated using Newton's Method.
S
= 0 assumed for end of term
S
= 1 assumed for beginning of term
}
–n
]
+ (1+ i S) n(1+ i)
i
–n–1
nFV(1+ i)
20050401
1
I %
= 0
i =
n
100
–n–1
+S