Filter
Top Products
20050401
7-2 Simple Interest
This calculator uses the following formulas to calculate simple interest.
uu
uu
u Formula
365-day Mode
SI' =
n
365
× PV × i
SI' =
n
360
× PV × i
I%
100
i =
I%
100
i =
SI :interest
n : number of interest
360-day Mode
periods
PV :principal
I% : annual interest
SFV : principal plus interest
SI = –SI'
SFV = –(PV + SI')
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 configuring 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 configured correctly.
7-2-1
Simple Interest