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24
Procedure Key operation Display
Set all the variables to
default values.
.
b
000
Make sure ordinary annuity is set (BGN is not displayed).
Set the number of pay-
ments per year to 12.
.
w
12
Q
P/Y=
1200
The number of compounding periods per year is automatically set to the
same value as P/Y.
Confi rm the number of
compounding periods
per year.
i
C/Y=
1200
Quit the P/Y and C/Y
settings.
s
000
Calculate the total num-
ber of payments and
store in N.
20
.
<
N
ANS~N
24000
Enter the present value.
56000
v
56———~PV
5600000
Enter payment.
,
440
u
(-44—)~PMT
-44000
Enter the future value.
0
T
—~FV
000
Calculate the annual
interest rate.
@
f
I/Y=
717
Answer: The annual interest rate is 7.17%.
Note: If you make a mistake, press
L
to erase the number
and enter the correct number to continue.
After pressing the TVM variable key, you must re-enter
values from the beginning.
3FinancialFunctionsCurrent.indd243FinancialFunctionsCurrent.indd24 06.7.108:38:14PM06.7.108:38:14PM
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