Simple Interest Calculations - Casio CFX-9970G Manual

19-2 Simple Interest Calculations

This calculator uses the following formulas to calculate simple interest.
365-day Mode
360-day Mode
Press 1 (SMPL) from the Financial 1 screen to display the following input screen
for simple interest calculation.
P.7 In the set up screen, specify "360" for Date Mode and "Fix2" for Display and then
P.6 press J.
Perform the following key operation from the input screen.
SI' = n
SI' = n
SI = –SI'
SFV = –(PV + SI')
n ......................
number of simple interest periods (days)
I% ................
annual interest rate
PV
.................. present value
SI SFV
• { }/{ } ... calculates {simple interest}/{simple future value}
Example What would the interest amount and principal plus interest be
for a loan of $1,500 borrowed for 90 days at an annual rate of
7.25%?
Use the 360-day mode and two decimal places.
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SI
1( )
PV i
i =
365
PV i
i =
360
I%
SI
: simple interest
100
n
: number of simple
I%
interest periods
100
PV
: present value
I%
: periodic interest rate
SFV
: simple future value
322