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20050401
a : INT
PM1
= I BAL
PM1–1
× i I × (PMT sign)
b : PRN
PM1
= PMT + BAL
PM1–1
× i
c : BAL
PM2
= BAL
PM2–1
+ PRN
PM2
d :
Σ
PRN = PRN
PM1
+ PRN
PM1+1
+ … + PRN
PM2
e :
Σ
INT = INT
PM1
+ INT
PM1+1
+ … + INT
PM2
PM2
PM1
PM2
PM1
BAL0 = PV (INT1 = 0 and PRN1 = PMT at beginning of installment term)
uu
uu
u Converting between the nominal interest rate and effective interest rate
The nominal interest rate (I% value input by user) is converted to an effective interest rate
(I%') for installment loans where the number of installments per year is different from the
number of compound interest calculation periods.
I%' =
I%
(1+ ) –1
[C / Y ]
[P / Y ]
100 × [C / Y ]
{ }
×100
The following calculation is performed after conversion from the nominal interest rate to the
effective interest rate, and the result is used for all subsequent calculations.
i = I%'÷100
Press 4(AMT) from the Financial 1 screen to display the following input screen for
amortization.
4(AMT)
PM1............................. first installment of installments 1 through n
PM2............................. second installment of installments 1 through n
n
.................................. installments
I% ............................... interest rate
PV ............................... principal
PMT ............................ payment for each installment
FV ............................... balance following final installment
P/Y .............................. installments per year
C/Y .............................. compoundings per year
7-5-2
Amortization
20070101