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%

 

SI

:

interest

365

 

 

 

100

n

:

number of interest

360-day Mode

SI' =

 

n

⋅

PV

⋅

i

i =

 

I%

 

 

periods

360

 

 

 

 

 

100

 

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.

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