20050401
7-6 Interest Rate Conversion
The procedures in this section describe how to convert between the annual percentage rate
and effective interest rate.
u
u
u
u
u
Formula
EFF
=
n
APR/
100
1 +
–1
×
100
n
APR
=
100
EFF
1 +
–1
×
n
×
100
1
n
Press
5
(CNVT) from the Financial 1 screen to display the following input screen for
interest rate conversion.
5
(CNVT)
n
.......................................
number of compoundings
I
% ............................... interest rate
After configuring the parameters, use one of the function menus noted below to perform the
corresponding calculation.
• {
'
EFF
} … {converts annual percentage rate to effective interest rate}
• {
'
APR
} … {converts effective interest rate to annual percent rate}
• An error (Ma ERROR) occurs if parameters are not configured correctly.
Use the following function menu to maneuver between calculation result screens.
• {
REPT
} … {parameter input screen}
APR
: annual percentage rate (%)
EFF
: effective interest rate (%)
n
:
number of compoundings
7-6-1
Interest Rate Conversion
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