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344
Example Calculate the annual percentage rate for an account paying an
effective interest rate of 12.55%, compounded quarterly.
In the set up screen, specify “Norm1” for Display and then press J.
Perform the following key operation from the input screen.
ew (
n = 4)
bc.ffw(I% = 12.55%)
2 (
'
APR)
• The obtained value is assigned to I%.
P.6
19 - 6 Conversion between Percentage Interest Rate and Effective Interest Rate
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