7-2-1

Simple Interest

7-2 Simple Interest

This calculator uses the following formulas to calculate simple interest.

uFormula

365-day Mode

SI' =

n

PV i
i =

I%

365

 

100

 

360-day Mode

SI' =

n

PV i

i =

I%

360

 

100

 

SI = SI'SFV = –(PV + SI' )

SI : interest

n: number of interest periods

PV : principal

I% : annual interest

SFV : principal plus interest

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.

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