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Simple Interest Calculations
This calculator uses the following formulas to calculate simple interest.
365-day Mode
SI'
=
n
365
!
PV
!
i
SI'
=
n
360
!
PV
!
i
I
%
100
i
=
I
%
100
i
=
SI
: simple interest
n
: number of simple
360-day Mode
interest periods
PV
: present value
I
%
: periodic interest rate
SFV
: simple future value
SI
= –
SI'
SFV
= –(
PV
+
SI'
)
Press
1
(SMPL) from the Financial 1 screen to display the following input screen
for simple interest calculation.
n ......................
number of simple interest periods (days)
I
% ................
annual interest rate
PV
.................. present value
• {
SI
}
/
{
SFV
} ... calculates {simple interest}/{simple future value}
Example
What would the interest amount and principal plus interest be
for a loan of $1,500 borrowed for 90 days at an annual rate of
7.25%?
Use the 360-day mode and two decimal places.
In the set up screen, specify “
360
” for Date Mode and “
Fix2
” for Display and then
press
J
.
Perform the following key operation from the input screen.
ja
w
h.cf
w
-
bfaa
w
1
(
SI
)
P.7
P.6
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