Calculation Formulas - Casio ClassPad 330 User Manual

Calculation Formulas

1 payment
1 ..............
Number of Payments
a : Interest portion of payment PM1 (INT)
INT = I BAL
PM1
b : Principal portion of payment PM1 (PRN)
PRN
= PMT + BAL
PM1
c : Principal balance upon completion of payment PM2 (BAL)
BAL
= BAL
PM2 PM2–1
d : Total principal paid from payment PM1 to payment PM2 (ΣPRN)
Σ PRN = PRN
PM2
PM1
PM1
e : Total interest paid from payment PM1 to payment PM2 (ΣINT)
• a + b = one repayment (PMT)
Σ INT = INT
PM2
PM1
PM1
BAL = PV
.......................
0
INT = 0 PRN
,
1 1
Converting between the Nominal Interest Rate and Effective Interest Rate
The nominal interest rate ( I % value input by user) is converted to an effective interest rate
( I % ' ) for installment loans where the number of annual payments is different from the number
{
of annual compoundings calculation periods.
I%' =
(1+
100 × [C / Y ]
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
Amortization
a
c
b
PM1 ..................... PM2 ............
× i I × (PMT sign)
PM1–1
× i
PM1–1
+ PRN
PM2
+ PRN
+ PRN +
....
PM1+1
+ INT + INT
+
....
PM1+1 PM2
Payment: End (Format tab)
= PMT
Payment: Begin (Format tab)
...
}
[C / Y ]
I%
[P / Y ]
) –1
×100
15-5-4
1 payment
Last 1 ...............
PM2
20060301
e
d
PM1 .................. PM2 ...............
Number of Payments
Last