First bank. keys, 12i(pz?s), Third bank – HP 10B User Manual
Page 75: Second bank, Display: description
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Firsl Bank
Second Bank
Third Bank
6.70% annual interest, compounded quarterly.
6.65% annual interest, compounded monthly.
6.63% annual interest, compounded 360 times per
year.
First Bank.
Keys:
6.7
4|
caflia
Second Bank.
6.65
12i(PZ?S)
Third Bank.
6.63
360lfP7YRl
Display:
Description:
6.70
Stores nominal rate.
4.00
Stores quarterly com
pounding periods.
6.87
Calculates annual
effective rale.
6.65
Stores nominal rate.
12.00
Stores monthly com
pounding periods.
6.86
Calculates annual
cfTcctivc rate.
6.63
Stores nominal rate.
360.00
Stores compounding
periods.
6.85
Calculates annual
cfTcctivc rale.
\mm
First Bank oQcrs a slightly better deal since 6.87 is greater than
6.86
and
6.85.
72
5: Time Value of Money Calculationt