Casio CFX-9970G User Manual page 352

19 - 3
Compound Interest Calculations
u u u u u Number of installments
Example
In the set up screen, specify "End" for Payment and then press J.
P.7
Perform the following key operation from the input screen.
u u u u u Interest rate
Example
P.7 In the set up screen, specify "End" for Payment and then press J.
Perform the following key operation from the input screen.
u u u u u Principal plus interest with initial deposit
Example
In the set up screen, specify "End" for Payment and then press J.
P.7
Calculate the number of monthly $84 installments required to
accumulate a total of $6,000 at an annual interest rate of 6%,
compounded annually.
c
gw
PV
aw( = 0)
PMT
-iew( = –84)
FV
gaaaw(
bcw(Monthly installments)
bw(Annual compounding)
n
1( )
Calculate the annual interest rate required to accumulate a
total of $10,000 in 10 years with $60 monthly installments.
ba*bcw(Input
c
PV
aw( = 0)
PMT
-gaw(
= –60)
baaaaw(
bcw(Monthly installments)
bw(Annual compounding)
I
2(
%)
Calculate the principal plus interest after one year for an
installment savings account with an interest rate of 4.5%,
compounded monthly, opened with an initial deposit of $1,000,
with $500 installments added each month.
= 6,000)
n
= 10 ! 12.)
FV
= 10,000)
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