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Sharp EL-735 Effective interest rate

How do you calculate the following:
Company L enters into an agreement with Company B to lend it $1m - The interest to be paid is 5% for each of the first 2 years and 7% for each of the next 2 years, annually in arrears. The loan must be repaid after 4 years. My text states that using a financial calculator the effective interest rate is calculated as 5.24%

How is this calculated?

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Posted on Jan 02, 2017

  • 1 Answer

SOURCE: SHARP EL-735

There you go mate...http://support.sharp.net.au/downloads/opmanuals/EL735.pdf

Posted on Oct 04, 2009

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Where is iconv function for calculating effective interest rate ?


Page 24 of the attached manual shows you how to calculate the effective interest rate. I couldn't find an iconv function, but there are functions to move between the simple and effective interest rate.

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Paul
http://www.yorku.ca/ntahani/ADMS3530/EL738_OM.pdf

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How to calculate effective annual rate


Hi there, if you are following the example from page 24 of the manual - The steps are as follows - reset or clear the previous values by pressing the orange key (2nd F) and MODE.
Then make sure that BGN is not displayed (To do this press 2nd F and FV (above it you will see BGN/END)). To set the number of payments per year press 2nd F I/Y (above it is P/Y). Type in 12 and press ENT. Press the down arrow key and to make sure C/Y also says 12 (12 compounding periods per year). Then press on. Calculate the total number of payments - to do this type in 20 2nd F N (to get xP/Y) and then store the answer in N by pressing N again. (Your screen should say ANS -> 240.00)Type in your present value 56000 and press PV to store it. Enter the monthly payment press +/- 440 PMT. Enter your future value (press 0 then FV). Now to calculate the interest rate press COMP I/Y. It should give you 7.17 %
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I cannot get the textbook answer (online calculators are also the same as textbook answer) using my sharp calculator EL738: Monthly payment for $184,500 at 6.75% interest semi annually, for 5 year term...


Your result is for the 6.75% interest compounded monthly. The problem states that the interest is compounded semiannually. This makes a difference in the effective interest rate.

A 6.75% APR compounded semiannually gives an effective interest rate of about 6.864%:
Press 2 , 6 . 7 5 2nd >EFF

Converting this to APR gives about 6.657%:
Press 1 2 , 6 . 8 6 4 2nd >APR

If you use 6.657 for the interest rate instead of 6.75 you should get the correct result.

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Trying to calculate effective rate on sharp el-738.quoterly payments at 5%int


Hi,
I'm trying to find out how to calculate the effective rate on this machine. Example, I receive a 5% interest on a 4 month basis, what will be my annual effective rate ? In fact, what are the steps to follow ?

Many thanks !

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Hi! I am using the Sharp EL-735 and I don't


Setup DSP TAB
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Where can i find sharp el735 manual


GOTO http://support.sharp.net.au/

in the pickup menu .. choose alculator... and put in model EL-735

Ive just done that.

Aug 20, 2009 | Sharp EL-733A Calculator

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