Casio Algebra FX 2.0 PLUS User Manual page 81

u u u u u Converting between the nominal interest rate and effective interest rate
The nominal interest rate (
I
( %') for installment loans where the number of installments per year is different from the
number of compound interest calculation periods.
{
I%' =
The following calculation is performed after conversion from the nominal interest rate to the
effective interest rate, and the result is used for all subsequent calculations.
i = I%'÷100
Press 4(AMT) from the Financial 1 screen to display the following input screen for interest
rate conversion.
4(AMT)
PM1 ............................. first installment of installments 1 through
PM2 ............................. second installment of installments 1 through
n
.................................. installments
I
% ............................... interest rate
PV
............................... principal
PMT
............................ payment for each installment
FV
............................... balance following final installment
P Y
/ .............................. installments per year
C Y
/ .............................. compoundings per year
2-5-2
Amortization
I
% value input by user) is converted to an effective interest rate
[C / Y ]
I%
[P / Y ]
(1 + )
100 × [C / Y ]
20010101
}
×100
–1
n
n