Casio CFX-9970G User Manual page 345

PV + FV
PMT = –
n
PV + FV
n = –
PMT
• 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 (
I
interest rate ( %') when the number of installments per year (
the number of compound interest calculation periods (
required for installment savings accounts, loan repayments, etc.
{
I%' =
(1+
100 ! [C / Y ]
n
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%
I%' = (1+
100
I
The value of %' is returned as the result of the
Press 2 (CMPD) in the Financial 1 screen to display the input screen for
compound interest calculation.
n
..................... number of compound periods
I
% ................... annual interest rate
PV
.................. present value (loan amount in case of loan; balance in case
Compound Interest Calculations
I
% value input by user) is converted to an effective
}
[C / Y ]
I%
[P / Y ]
) –1
!100
PV PMT FV
, ,
}
[P / Y ]
[C / Y ]
) –1 ![C / Y ]!100
of savings)
P/Y
) is different from
C/Y
). This conversion is
P/Y
: installment
periods per year
C/Y
: compounding
periods per year
P/Y
: installment
periods per year
C/Y
: compounding
periods per year
I
% calculation.
19 - 3
I
%'.
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