User manual - Chapter 2 Financial Calculation (TVM)

20010101

2-2 Simple Interest

This calculator uses the following formulas to calculate simple interest.

uFormula

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, press one of the function keys noted below to perform the

corresponding calculation.

• 1(SI) ....... Simple interest

• 2(SFV) ... Simple future value

2-2-1

Simple Interest