Simple Interest with SMPL Mode
QED Education Scientific
6
1
SMPL
6
0
EXE
2
EXE
•
4
5
EXE
1
0
5
0
EXE
EXE
SOLVE
Ans
Simple Interest with SMPL Mode
Calculating simple interest is straight forward and the simple interest amount, or SI,
and the simple future value, or SFV, can be obtained easily. Day calculation can be
set to
exact
or
approximated
, and in this reader we shall use only
exact
time.
Example 1
►
>>
Find the exact simple interest, on a 60-day loan of RM1500.00 at
2
1
14
%.
In this example, Dys(Day) = 60,
I
%(Interest Rate) = 14.5 and PV(Present Value/Principal) = 1500.
Operation
Enter SMPL mode by tapping on
. If the day calculation is ‘Set :365’, let it
be. Otherwise, press
Scroll down, select [Dys] and input the value 60. Similarly, select
[
I
%] and [PV]
and key in their respective values of 14.5 and 1500.
With [
S
I
:Solve] selected, tap or
.
The output says that the interest is RM 35.75, and the minus sign in front means this
is a payable.
█
When my wife purchased her Honda City, we used the FC-200V to help her planned
the loan repayment. Apart from SMPL mode, we also used the Answer Memory
feature, or
.
Example 2
►
>>
My wife takes out a 5-year car loan of RM 30,000 at the rate of
3.3%. She wants to know what her monthly repayment would be.
In this example, Dys = 5 X 365,
I
% = 3.3 and PV = 30,000.
[Continue next page]
Output: SI = -35.75342466
Screenshot from Casio TVM
