334
u
u
u
u
u
Number of installments
Example
Calculate the number of years it will take to repay a $60,000
loan borrowed at 5.5%, compounded monthly, with monthly
installments of $840.
In the set up screen, specify “
End
” for Payment and then press
J
.
Perform the following key operation from the input screen.
c
f.f
w
gaaaa
w
(
PV
= 60,000)
-
iea
w
(
PMT
= –840)
a
w
(
FV
= 0)
bc
w
(Monthly installments)
(Monthly compounding)
1
(
n
)
u
u
u
u
u
Effective interest rate
Example
Calculate (to two decimal places) the effective interest rate
compounded monthly, on a 25-year $65,000 loan repaid with
$460 monthly installments.
In the set up screen, specify “
End
” for Payment, “
Fix2
” for Display, and then press
J
.
Perform the following key operation from the input screen.
cf*bc
w
(Input
n
= 25
!
12.)
c
gfaaa
w
(
PV
= 65,000)
-
ega
w
(
PMT
= –460)
a
w
(
FV
= 0)
bc
w
(Monthly installments)
(Monthly compounding)
2
(
I
%)
19 - 3
Compound Interest Calculations
P.7
P.7
P.6
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 ...