4 | |
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6.7 | |
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| interest rate for bank #1. |
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| interest rate for bank #1. |
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12 | |
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| year for bank #2. |
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6.65 | |
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| interest rate for bank #2. |
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| interest rate for bank #2. |
| Displays CONT menu. | ||||||||||
e | | | |||||||||
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| | Previous values of NOM% |
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| for bank #3. |
The calculations show that bank #3 is offering the most favorable interest rate.
Compounding Periods Different from
Payment Periods
The TVM menu assumes that the compounding periods and the payment periods are the same. However, regularly occurring savings- account deposits and withdrawals do not necessarily occur at the same time as the bank’s compounding periods. If they are not the same, you can adjust the interest rate using the ICNV menu, and then use the adjusted
6: Interest Rate Conversions | 87 |
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