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E-47
3. Press l to perform the
calculation.
A Calculating the Number of Payments (n),
Interest Rate (I%), Present Value (Principal:
PV), and Payment Amount (PMT)
• Use the same procedure as shown under “Example 1”
(page E-46), substituting the required values.
A Calculating the Number of Months when a
Partial Month is Included
The following example shows how to calculate the number
of months (number of days/total days in the month) for the
number of payments (
n) when a partial month is include.
Example 1: When the payment period is 16 months and
20 days
• When P/Y=12,
n can be thought of as being the payment
period (number of months).
1. Use fc to select “
n”.
2. Input the division operation that divides the number of
days in the partial month (20 in this example) by the
total number of days in the month.
• This example assumes
that there are 30 days in
the month.
3. Add the number of full
months (16 in this example).
4. Press E.
Note
• When n includes a fractional part (odd period), the
calculator always assumes the odd period occurs before
the first full payment period.
E