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Appendix A: Tables and Reference Information 161
then:
Balance, principal, and interest are dependent on the values of PMT, PV,
æ, and pmt1 and pmt2.
Cash Flow
where:
Net present value is dependent on the values of the initial cash flow
(CF
0
), subsequent cash flows (CFj), frequency of each cash flow (nj), and
the specified interest rate (i).
irr() = 100 × i, where i satisfies npv() = 0
Internal rate of return is dependent on the values of the initial cash flow
(CF
0
) and subsequent cash flows (CFj).
i = I% ÷ 100
Interest Rate Conversions
where:
RND
= round the display to the number of decimal places
selected
RND12
= round to 12 decimal places
4Eff =
where:
x
=.01 × Nom ÷ CP
4
Nom =
where:
x
=.01 × Eff
bal( ) bal pmt2()=
Σ
Prn( ) bal pmt2()bal pmt1(
)
–=
ΣInt( ) pmt2 pmt1– 1+()RND PMT()×ΣPrn( )–=
npv( ) CF
0
CF
j
1 i+()
-
S
j
1–
11i+()
-
n
j
–()
i
----------------------------------
j 1=
N
∑
+=
S
j
n
i
i 1=
j
∑
j 1≥
0 j 0=
=
100 (e
CP x 1+()ln×
1)–×
100 CP [×× e
1 CP÷ x 1+()ln×
1 ]–