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6: Interest Rate Conversions 85
File name : English-M02-1-040308(Print).doc Print data : 2004/3/9
The ICNV Menu
FIN
TVM
NOM% NOM%
PER
BUS
ICNV
EFF% EFF%
CONT
SUM
CFLO
P
TIME
BOND
SOLVE
DEPRC
CURRX
The ICNV menu converts between nominal and effective interest rates,
using either:
Periodic compounding; for example, quarterly, monthly, or daily
compounding.
Continuous compounding.
Converting Interest Rates
To convert between a nominal annual interest rate and an effective
annual interest rate that is compounded
periodically
:
1. Press to display the interest conversions menu.
2. Press for periodic.
3. Key in the number of compounding periods per year and press
.
4. To convert to the effective rate, first key in the nominal rate and press
,
then press
.
5. To convert to the nominal rate, first key in the effective rate and press
,
then press
.