HP 17bII Owner's Manual page 89

effective interest rate based on your payment periods. Last, convert the
effective rate to the nominal rate based on the bank's compounding
periods.
Example: Balance of a Savings Account. Starting today, you make
monthly deposits of $25 into an account paying 5% interest
compounded daily (365-day basis). At the end of 7 years, how much
will you receive from the account?
Keys:
 


365

5

12 

ee

<

s
 12 

e
File name : English-M02-1-040308(Print).doc
Display:


 










   
6: Interest Rate Conversions
Print data : 2004/3/9
Description:
Periodic interest-rate
conversion menu.
Stores bank's
compounding periods.
Stores bank's nominal
interest rate.
Calculates effective interest
rate for daily compounding.
Stores number of deposits
per year.
Calculates equivalent
nominal interest rate for
monthly compounding.
Switches to TVM menu;
NOM% value is still in
calculator line.
Stores adjusted nominal
interest rate in I%YR.
Sets 12 payments per
year; Begin mode.
89