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INSURANCE
Earned and Return Premium
Instructions
Example
DAYS IN
PREMIUM
EFFECT
EARNED
$135.76
186
69.18
RETURN
66.58
Before beginning the calculations:
Depress 1:-
Set 365
Depress M
For each problem use the following routine:
Set 135.76.....Depress
~
Depress
x
Set 186
Depress
=
Depress:
Depress
~
Depress
=
Read 69.18
Amount of premium earned
in display
Depress
ii
Depress 1:-
Read 66.58
Amount of return premium
in display
SIMPLE INTEREST
360 Day Year
Instructions
30
Example
AMOUNT
$865.00
RATE
6.00%
DAYS
INTEREST
46
$6.63
Before beginning a series of simple
interest calculations:
Set 360.....Depress M
For each problem use the following routine:
Set 865
Depress
x
Set .06
Depress
=
Depress
x
Set 46....... Depress
=
Depress:
Depress
~
Depress
=
Read 6.63
Amount of interest in display
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