User Manual

Savings
Initial Deposit with Periodic Deposits
Given an initial deposit into a savings account, and a series of periodic deposits
coincident with the compounding period, the future value (or accumulated
amount) may be calculated as follows:
1. Press and press CLEAR .
2. Key in the initial investment and press
.
3. Key in the number of additional periodic deposits and press
.
4. Key in the periodic interest rate and press
.
5. Key in the periodic deposit and press
.
6. Press
to determine the value of the account at the end of the time period.
Example: You have just opened a savings account with a $200 deposit. If you
deposit $50 a month, and the account earns 5 1/4 % compounded monthly, how
much will you have in 3 years?
Keystrokes Display
CLEAR
200
3
5.25
50
2,178.94 Value of the account.
Note: If the periodic deposits do not coincide with the compounding periods, the
account must be evaluated in another manner. First, find the future value of the
initial deposits and store it. Then use the procedure for compounding periods
different from payment periods to calculate the future value of the periodic
deposits. Recall the future value of the initial deposit and add to obtain the value
of the account.