Casio CFX-9970G User Manual page 354

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 Effective interest rate
Example
P.7 In the set up screen, specify "End" for Payment, "Fix2" for Display, and then press
J.
P.6
Perform the following key operation from the input screen.
Calculate the number of years it will take to repay a $60,000
loan borrowed at 5.5%, compounded monthly, with monthly
installments of $840.
c
f.fw
gaaaaw(
PMT
-ieaw(
FV
aw(
= 0)
bcw(Monthly installments)
(Monthly compounding)
n
1(
)
Calculate (to two decimal places) the effective interest rate
compounded monthly, on a 25-year $65,000 loan repaid with
$460 monthly installments.
cf*bcw(Input
c
gfaaaw(
PMT
-egaw(
FV
aw(
= 0)
bcw(Monthly installments)
(Monthly compounding)
I
2( %)
PV
= 60,000)
= –840)
n
= 25 ! 12.)
PV
= 65,000)
= –460)
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