Caretec DoubleCheck, User Manual

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5.4.1: Compound Interest
This formula helps you to calculate an end capital on the basis of a certain initial
capital and a given duration and percentage.
Example: You have a certain amount of money (initial capital) on your savings
account. You know, that your bank offers you a certain interest rate (percent) and
you decide to keep this amount of money on your account for e.g. 5 years
(duration). After typing in all this information DoubleCheck XL will announce how
much money you will have on your savings account after those 5 years including
the interest given by your bank.
After selecting the formula DoubleCheck XL asks you to type in the initial capital.
Do so and confirm with a short press of the Menu-key (3 x 3 group, row 2, middle
key). DoubleCheck XL repeats the value and asks you to type in the percentage.
Do so and confirm again with a short press of the Menu-key. DoubleCheck XL will
repeat the percent and ask you to type the duration. Do so once again and confirm
with a short press of the Menu-key. DoubleCheck XL then will announce the end
capital.
5.4.2: Net Present Value
This formula helps you to calculate the initial capital on the basis of a certain end
capital you wish to have in the near future (including the interest).
Example: You know you will need a certain amount of money in the near future
(end capital) and you know that your bank offers you a certain interest rate
(percent) for a certain duration (for e.g. 5 years). After typing in all this information,
DoubleCheck XL will calculate the net present value. This is the amount of money,
you have to invest in order to reach the desired end capital.
After selecting the function, DoubleCheck XL asks you to type in the end capital you
wish to reach. Do so and confirm with a short press of the Menu-key (3 x 3 group,
row 2, middle key). DoubleCheck XL repeats the value and asks you to type in the
percentage. Key this in and confirm again with a short press of the Menu-key.
DoubleCheck XL will repeat the percentage and ask you to type in the duration. Key
this in and once again confirm with a short press of the Menu-key. DoubleCheck XL
will announce the net present value.
5.4.3: Annuity
The term annuity is used in finance theory to refer to any terminating stream of
regular payments over a specified period of time.
Example: You need a credit from your bank (initial capital), where you pay a
percentage of interest (percent) over a certain (fe. 20 years or 240 months) time
(duration) DoubleCheck XL will calculate the monthly installments you have to pay
in order to repay the credit.
After selecting the function, DoubleCheck XL asks you to type in the initial capital.
Key this in and confirm with a short press of the Menu-key (3 x 3 group, row 2,