Casio Algebra FX2.0 Software Manual page 7

PMT = –
PV + FV
n = –
• A deposit is indicated by a plus sign (+), while a withdrawal is indicated by a minus sign (–).
u u u u u Converting between the nominal interest rate and effective interest rate
The nominal interest rate (
when the number of installments per year (
interest calculation periods (
loan repayments, etc.
I%' =
n PV
When calculating ,
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
I
When calculating %
I
After % is obtained, the following calculation is performed to convert to
{
I%' =
The value of I %' is returned as the result of the
Press 2(CMPD) from the Financial 1 screen to display the following input screen for com-
pound interest.
• 2(CMPD)
7
PV + FV
n
PMT
I
% value input by user) is converted to an effective interest rate (
P/Y
C/Y
). This conversion is required for installment savings accounts,
{
I%
(1+
100 C / Y ]
PMT FV
, ,
P / Y ] }
I%
C / Y ]
(1+ ) –1 C / Y
100
) is different from the number of compound
P/Y
}
C / Y ]
P / Y ]
) –1 100
C/Y
P/Y
100
C/Y
I % calculation.
I
%')
: installment
periods per year
: compounding
periods per year
I
%'.
: installment
periods per year
: compounding
periods per year