Programming Guide

20050401

7-2 Simple Interest

This calculator uses the following formulas to calculate simple interest.

u Formula

365-day Mode

SI' =

365

× PV × i

SI' =

360

× PV × i

100

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