Casio fx-9750G PLUS - Manual (Page 364)

336
u u u u u Number of installments
Example Calculate the number of years it will take to repay a $60,000
loan borrowed at 5.5%, compounded monthly, with monthly
installments of $840.
In the set up screen, specify “ End” for Payment and then press J.
Perform the following key operations from the input screen.
c
f.fw
gaaaaw ( PV = 60,000)
- ieaw ( PMT = –840)
aw ( FV = 0)
bcw (Monthly installments)
(Monthly compounding)
1 ( n )
u u u u u Effective interest rate
Example Calculate (to two decimal places) the effective interest rate
compounded monthly, on a 25-year $65,000 loan repaid with
$460 monthly installments.
In the set up screen, specify “ End” for Payment, “Fix2” for Display, and then press
J .
Perform the following key operations from the input screen.
cf*bcw (Input n = 25 × 12.)
c
gfaaaw ( PV = 65,000)
- egaw ( PMT = –460)
aw ( FV = 0)
bcw (Monthly installments)
(Monthly compounding)
2 ( I %)
19 - 3
Compound Interest Calculations
P.7
P.7
P.6