User's Manual

20070201
7-2 Simple Interest
This calculator uses the following formulas to calculate simple interest.
u Formula
365-day Mode SI : interest
n : number of interest
360-day Mode periods
PV : principal
I % : annual interest
SFV : principal plus interest
Press 1 (SMPL) from the Financial 1 screen to display the following input screen for simple
interest.
1 (SMPL)
n .................................. number of interest periods (days)
I % ............................... annual interest rate
PV ............................... principal
After confi guring the parameters, use one of the function menus noted below to perform the
corresponding calculation.
• { SI } … {simple interest}
• { SFV } … {simple future value}
• An error (Ma ERROR) occurs if parameters are not confi gured correctly.
SI' =
n
365
× PV × i
SI' =
n
360
× PV × i
I%
100
i =
I%
100
i =
SI' =
n
365
× PV × i
SI' =
n
360
× PV × i
I%
100
i =
I%
100
i =
SI = –SI'
SFV = –(PV + SI')
SI = –SI'
SFV = –(PV + SI')
7-2-1
Simple Interest