7 @ | T |
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| " | Stores 84 deposit periods, | |||
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| $25 per deposit, and no | |||
25& | W |
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| money before the first | |||||
0 | V |
| 5O8(&((" | |||||
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| regular deposit. |
| GO8$K.#,&'#" | Value of account in 7 | ||||||
X |
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| years. |
If the interest rate were the unknown, you would first do the TVM calculation to get I%YR (5.01). Then, in the ICNV PER menu, store 5.01 as NOM% and 12 as P for monthly compounding. Calculate EFF% (5.13). Then change P to 365 for daily compounding and calculate NOM% (5.00). This is the bank’s rate.
90 6: Interest Rate Conversions
File name : | Print data : 2003/7/11 |