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332
Perform the following key operations from the input screen.
baw(Input n = 10.)
c
-gaaaw(PV = –6,000)
aw(PMT = 0)
baaaaw(FV = 10,000)
bw
bcw(Monthly compounding)
2(I%)
uu
uu
uCompound interest period
Example Calculate the amount of time required to increase an initial
investment of $5,000 to a total of $10,000 at an annual rate of
4%, compounded monthly.
In the set up screen, specify “End” for Payment and then press J.
Perform the following key operations from the input screen.
c
ew(I% = 4)
-faaaw(PV = –5,000)
aw(PMT = 0)
baaaaw(FV = 10,000)
bw
bcw(Monthly compounding)
1(n)
uu
uu
uInstallment savings
Example Calculate (to two decimal places) the principal plus interest for
$250 monthly installments for five years at 6% annual interest,
compounded monthly.
Calculate amounts for when installments are made at the
beginning of each month and at the end of each month.
In the set up screen, specify “End” for Payment and “Fix2” for Display, and then
press J.
19 - 3 Compound Interest Calculations
P. 7
P. 7
P. 6
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