Casio CFX-9970G User Manual page 348

19 - 3
Compound Interest Calculations
Example
Perform the following key operation from the input screen.
u u u u u Loan when final installment is greater than other installments
Input Condition: Total of equal amount payments is greater than the difference
between the loan amount and final payment amount.
Formula Representation of Input Condition:
Example
Perform the following key operation from the input screen.
Calculate the interest rate required to repay a $2,300 balance
on a loan in two years paying back $100 per month, when
interest is compounded monthly.
c*bcw(Input
c
cdaaw(
-baaw(
FV
aw( = 0)
bcw(Monthly installment)
(Monthly compounding)
I
2( %)
PV PMT FV
, , do not equal zero.
PV FV n PMT
+ > –
!
PV FV n PMT
+ < –
!
Calculate the interest rate required to repay a $2,500 balance
on a loan in two years (24 installments) paying back $100 per
month and a final $200 installment, when interest is com-
pounded monthly.
c*bcw(Input
c
cfaaw(
-baaw(
-caaw(
bcw(Monthly installment)
(Monthly compounding)
I
2( %)
n
= 2 ! 12.)
PV
= 2,300)
PMT
= –100)
The value you input for
number of installment periods per
year) is also automatically input for
C/Y
periods per year). You can input
another value for
FV PV
when >
FV PV
when <
n
= 2 ! 12.)
PV
= 2,500)
PMT
= –100)
FV
= –200)
P/Y
(the number of compounding
C/Y
if you want.
(the
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