Interest Rate Conversion - Casio Algebra FX 2.0 PLUS User Manual

2-6 Interest Rate Conversion

The procedures in this section describe how to convert between the annual percentage rate
and effective interest rate.
u u u u u Formula
EFF =
APR =
Press 5(CNVT) in the Financial 1 screen to display the following input screen for interest
rate conversion.
5(CNVT)
n
....................................... number of compoundings
I
% ............................... interest rate
After configuring the parameters, press one of the function keys noted below to perform the
corresponding calculation.
• 1('EFF) ... Converts annual percent rate to effective interest rate
• 2('APR) ... Converts effective interest rate to annual percent rate
• An error (Ma ERROR) occurs if parameters are not configured correctly.
Use the following function key to maneuver between calculation result screens.
• 1(REPT) ... Parameter input screen
2-6-1
Interest Rate Conversion
n
APR/100
–1 × 100
1 +
n
1
EFF n
–1 × n ×100
1 +
100
20011101 20010101
APR
: annual percentage rate (%)
EFF
: effective interest rate (%)
:
n
number of compoundings