Casio ClassPad 330, User Manual

Page: 853 / 954

20060301
15-5-4
Amortization
I%' =
I%
(1+ ) –1
[
C / Y ]
[
P / Y ]
100
× [
C / Y ]
{ }
×
100
i = I%'
÷
100
Calculation Formula s
a : Interest portion of payment PM1 (INT)
b : Principal portion of payment PM1 (PRN)
c : Principal balance upon completion of payment PM2 (BAL)
d : Total principal paid from payment PM1 to payment PM2 ( 3 PRN)
e : Total interest paid from payment PM1 to payment PM2 ( 3 INT)
• a + b = one repayment (PMT)
Converting between the Nominal Intere s t Rate and Effective Intere s t Rate
The nominal interest rate ( I % value input by user) is converted to an effective interest rate
( I % ' ) for installment loans where the number of annual payments is different from the number
of annual compoundings calculation periods.
The following calculation is performed after conversion from the nominal interest rate to the
effective interest rate, and the result is used for all subsequent calculations.
1 payment
Number of Payments
1 PM1 PM2 Last ............... .................. ...............
d
e
INT
PM1
= I
BAL
PM1–1
s
i
I s (
PMT sign
)
PRN
PM1
= PMT + BAL
PM1–1
s
i
BAL
PM2
=
BAL
PM2–1
+
PRN
PM2
3
PRN
=
PRN
PM1
+
PRN
PM1+1
+
....
+
PRN
PM2
PM2
PM1
INT = INT
PM1
+ INT
PM1+1
+
....
+ INT
PM2
PM2
PM1
BAL
0
= PV
.......................
Payment: End (Format tab)
INT
1
= 0
,
PRN
1
= PMT
...
Payment: Begin (Format tab)
c
a
b
1 payment
Number of Payments
1 PM1 PM2 Last .............. ..................... ............