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332
uu
uu
uNumber of installments
Example Calculate the number of monthly $84 installments required to
accumulate a total of $6,000 at an annual interest rate of 6%,
compounded annually.
In the set up screen, specify “End” for Payment and then press J.
Perform the following key operation from the input screen.
c
gw
aw(PV = 0)
-iew(
PMT = –84)
gaaaw(FV = 6,000)
bcw(Monthly installments)
bw(Annual compounding)
1(
n)
uu
uu
uInterest rate
Example Calculate the annual interest rate required to accumulate a
total of $10,000 in 10 years with $60 monthly installments.
In the set up screen, specify “End” for Payment and then press J.
Perform the following key operation from the input screen.
ba*bcw(Input n = 10 × 12.)
c
aw(PV = 0)
-gaw(PMT = –60)
baaaaw(
FV = 10,000)
bcw(Monthly installments)
bw(Annual compounding)
2(
I%)
uu
uu
uPrincipal plus interest with initial deposit
Example Calculate the principal plus interest after one year for an
installment savings account with an interest rate of 4.5%,
compounded monthly, opened with an initial deposit of $1,000,
with $500 installments added each month.
In the set up screen, specify “End” for Payment and then press J.
19 - 3 Compound Interest Calculations
P.7
P.7
P.7
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