Compound Interest - Casio Algebra FX 2.0 PLUS User Manual

2-3 Compound Interest

This calculator uses the following standard formulas to calculate compound interest.
u u u u u Formula I
PV+PMT ×
Here:
PV= –(PMT ×
FV= –
PMT= –
n =
α
=
β
=
F i
) = Formula I
(
F(i) =
u u u u u Formula II (I% = 0)
PV + PMT × n + FV = 0
Here:
PV = – (PMT × n + FV )
Compound Interest
(1+ i × S)[(1+ i)
i(1+ i)
n
α β
+ FV ×
α
PMT ×
+ PV
β
β
PV + FV ×
α
{
(1+ i S ) PMT–FVi
log
(1+ i S ) PMT+PVi
log(1+ i)
(1+ i × S)[(1+ i)
–1]
n
i(1+ i) n
1
(1+ i)
n
[
(1+ i S)[1– (1+ i)
PMT
–
i
]
–
+S [1–(1+ i) ]
–n
2-3-1
–1]
n
+ FV
(1+ i)
PV
: present value
)
FV
: future value
PMT
: payment
:
n
number of compound periods
I
% : annual interest rate
i
is calculated using Newton's Method.
S
= 0 assumed for end of term
}
S
= 1 assumed for beginning of term
–n ]
+ (1+ i S)[n(1+ i)
i
nFV(1+ i) –n–1
20010101 20011201
1
I %
= 0
i =
100
n
]+S [
–n–1