Casio FX-9860GII-L-IH User Guide - Page 374
Compound Interest, PV+PMT
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7-3-1 Compound Interest 7-3 Compound Interest This calculator uses the following standard formulas to calculate compound interest. u Formula I (1 + i × S)[(1 + i)n-1] PV+PMT × i(1 + i)n Here: 1 + FV = 0 (1 + i)n I % i = 100 PV= -(PMT ×α + FV ×β ) FV= - PMT ×α + PV β PMT= - PV + FV × β α { } (1+ i × S ) PMT-FVi log (1 + i × S ) PMT+PVi n = log(1 + i) α = (1 + i × S)[(1 + i)n-1] i(1 + i)n β= 1 (1 + i)n PV : present value FV : future value PMT : payment n : number of compound periods I% : annual interest rate i is calculated using Newton's Method. S = 0 assumed for end of term S = 1 assumed for beginning of term F(i) = Formula I [ F(i)'= PMT (1 + i × S)[1- (1 + i)-n] - + (1 + i × S)[n(1 + i)-n-1]+S i i ] +S [1-(1 + i)-n] - nFV(1 + i)-n-1 u Formula II (I% = 0) PV + PMT × n + FV = 0 Here: PV = - (PMT × n + FV ) 20050401