329
k
k
k
k
k
Savings
u
u
u
u
u
Future value
Example
Calculate the future value after 7.6 years for a principal of $500
and an interest rate of 6%, compounded annually.
Perform the following key operation from the input screen.
h.g
w
(
n
= 7.6 years)
g
w
(
I
= 6%)
-
faa
w
(
PV
= –500)
a
w
(
PMT
= 0)
a
w
(
FV
= 0)
b
w
b
w
(Annual compounding)
5
(
FV
)
u
u
u
u
u
Principal
Example
Calculate the principal required at 5.5%, compounded monthly,
to produce a total of $20,000 in a year.
Perform the following key operation from the input screen.
b*bc
w
(Input
n
= 1
!
12.)
f.f
w
(
I
= 5.5%)
c
a
w
(
PMT
= 0)
caaaa
w
(
FV
= 20,000)
b
w
bc
w
(Monthly compounding)
3
(
PV
)
u
u
u
u
u
Compound interest rate
Example
Calculate the interest required, compounded monthly, to
produce a total of $10,000 in 10 years on an initial investment
of $6,000.
In the set up screen, specify “
Begin
” for Payment and then press
J
.
Compound Interest Calculations
19 - 3
P.7
Summary of Contents for CFX-9970G
Page 22: ... CFX 9970G ...
Page 452: ...435 1 2 3 4 5 Program for Circle and Tangents No 4 Step Key Operation Display ...
Page 453: ...436 Program for Circle and Tangents No 4 Step Key Operation Display 6 7 8 9 10 ...
Page 454: ...437 11 12 13 14 15 Program for Circle and Tangents No 4 Step Key Operation Display ...
Page 455: ...438 16 17 18 Program for Circle and Tangents No 4 Step Key Operation Display ...
Page 458: ...441 1 2 3 4 5 Program for Rotating a Figure No 5 Step Key Operation Display ...