HP 10bII hp 10bii_user's guide_English_E_HDPMF102E11.pdf - Page 98

Loans and Mortgages

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Loans and Mortgages Simple Annual Interest Example. Keys: Display: 0.10 7.40 457.40 Description: Continuous Compounding = (( ÷ )- )× 98 8: Additional Examples

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98
8: Additional Examples
Loans and Mortgages
Simple Annual Interest
Example.
<RXU±JRRG±IULHQG±QHHGV±D±ORDQ±WR±VWDUW±KLV±ODWHVW±HQWHUSULVH±DQG±
KDV±DVNHG±\RX±WR±OHQG±KLP±»¼Ã¸±IRU±Â¸±GD\V³±<RX±OHQG±KLP±WKH±PRQH\±DW±
¶¸½±VLPSOH±DQQXDO±LQWHUHVW²±WR±EH±FDOFXODWHG±RQ±D±ÁÂþGD\±EDVLV³±+RZ±
PXFK±LQWHUHVW±ZLOO±KH±RZH±\RX±LQ±Â¸±GD\V²±DQG±ZKDW±LV±WKH±WRWDO±DPRXQW±
RZHG"
7KLV±HTXDWLRQ±LV±XVHG±IRU±FDOFXODWLQJ±VLPSOH±DQQXDO±LQWHUHVW±XVLQJ±D±ÁÂñ
GD\±\HDU´
,17(5(67±°
Continuous Compounding
7KH±HTXDWLRQ±IRU±FDOFXODWLQJ±DQ±HIIHFWLYH±UDWH±IRU±FRQWLQXRXV±
FRPSRXQGLQJ±LV´
7R±VROYH±D±FRQWLQXRXV±FRPSRXQGLQJ±SUREOHP±FRPSOHWH±WKHVH±VWHSV´
±²
&RPSXWH±WKH±DQQXDO±HIIHFWLYH±UDWH±XVLQJ±WKH±DERYH±HTXDWLRQ³
³²
(LWKHU±XVH±WKLV±HIIHFWLYH±UDWH±LQ±\RXU±FDOFXODWLRQV±ZLWK±DQ±DQQXDO±
SHULRG±µ
3³<5
±°±¶¹±RU±FRQYHUW±WKLV±UDWH±VR±WKDW±LW±DSSOLHV±WR±\RXU±
SD\PHQW±SHULRG³±,Q±WKH±IROORZLQJ±H[DPSOH²±
3³<5
±°±¶º±VR±\RX±KDYH±
WR±FDOFXODWH±D±QHZ±
120±
±XVLQJ±WKH±LQWHUHVW±UDWH±FRQYHUVLRQ±
DSSOLFDWLRQ±ZLWK±
3³<5
±HTXDO±WR±¶º³
Keys:
Display:
Description:
0.10
6WRUHV±LQWHUHVW³
7.40
&DOFXODWHV±LQWHUHVW±RZHG³
457.40
&DOFXODWHV±WRWDO±RZHG³
/2$1±$02817
,17(5(67½
×
7(50±2)±/2$1±µ,1±’$<6¹
×
ÁÂÃ
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