Question about Casio FX-260 Calculator

Using fixed simple interest:

start with $1,500. Every year you get $75 in interest.

so after 3 years you have $1,500 + $225 = $1,725.00

Compound interest:

If you use/want compound interest you gain 5% of the new amount every year. So start with $1,500

Year 1: $1,500 + $75 = $1,575

Year 2: $1,575 + $78.75 = $1,653.75

Year 3: $1,653.75 + $82.6875 = $1736.4375

So final sum is $1736.4375.

However banks usually round down so $1736.43

start with $1,500. Every year you get $75 in interest.

so after 3 years you have $1,500 + $225 = $1,725.00

Compound interest:

If you use/want compound interest you gain 5% of the new amount every year. So start with $1,500

Year 1: $1,500 + $75 = $1,575

Year 2: $1,575 + $78.75 = $1,653.75

Year 3: $1,653.75 + $82.6875 = $1736.4375

So final sum is $1736.4375.

However banks usually round down so $1736.43

Jan 28, 2014 | Mathsoft Computers & Internet

Assuming the 28k is put in as one lump sum each year and that the interest is compounded annually, then after 15 years I calculate $453,329

You can use the following online calculator to make adjustments, check my calculations, modify any factors, etc...

http://www.bankrate.com/calculators/savings/compound-savings-calculator-tool.aspx

You can use the following online calculator to make adjustments, check my calculations, modify any factors, etc...

http://www.bankrate.com/calculators/savings/compound-savings-calculator-tool.aspx

Nov 18, 2013 | Computers & Internet

Assuming it's compounded monthly, you'll pay back about 1.43 times the amount you borrowed. If you borrowed $1000, you'll pay about $1,430.77 .

Sep 30, 2013 | smrtApps Compound Interest Calculator

Compounded Interest is when the bank pays
you interest on the interest. For example, if your savings account earns interest of 1%, then each day of
that 1% of the amount of money you have in your savings account is added to
your total amount of money.

*Daily compounding = Principal (1 + interest rate/365)365 =
(daily compounded amount)*

Aug 14, 2013 | Finance

Hi, perhaps this pdf helps:

http://education.ti.com/downloads/guidebooks/graphing/83p/83m$book-eng.pdf page 442,

Ronald

http://education.ti.com/downloads/guidebooks/graphing/83p/83m$book-eng.pdf page 442,

Ronald

Aug 14, 2012 | Texas Instruments TI-83 Plus Calculator

That's 10,000 for 10 years at 6% interest compounded month.

Press

1 0 0 0 0 * ( 1 + . 0 6 / 1 2 ) y^x ( 1 0 * 1 2 ) =

Press

1 0 0 0 0 * ( 1 + . 0 6 / 1 2 ) y^x ( 1 0 * 1 2 ) =

Apr 07, 2011 | Texas Instruments Office Equipment &...

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.

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.

Feb 22, 2011 | Sharp EL-738 Scientific Calculator

If the interest is compounded monthly:

2nd [CLR TVM] (clear any existing results)

1 5 0 0 0 _/- PV (present value, negative because you're paying it out)

6 I/Y (annual interest rate)

25 2nd [*P/Y] N (25 years)

CPT FV (compute future value, see 66,974.55)

If the interest is compounded annually:

2nd [CLR TVM] (clear any existing results)

1 5 0 0 0 _/- PV (present value, negative because you're paying it out)

6 I/Y (annual interest rate)

2nd [P/Y] 1 ENTER 2nd [QUIT] (one compounding period per year)

25 N (25 years)

CPT FV (compute future value, see 64,378.96)

2nd [CLR TVM] (clear any existing results)

1 5 0 0 0 _/- PV (present value, negative because you're paying it out)

6 I/Y (annual interest rate)

25 2nd [*P/Y] N (25 years)

CPT FV (compute future value, see 66,974.55)

If the interest is compounded annually:

2nd [CLR TVM] (clear any existing results)

1 5 0 0 0 _/- PV (present value, negative because you're paying it out)

6 I/Y (annual interest rate)

2nd [P/Y] 1 ENTER 2nd [QUIT] (one compounding period per year)

25 N (25 years)

CPT FV (compute future value, see 64,378.96)

Oct 26, 2010 | Texas Instruments BA-II Plus Calculator

Yes you can use it, here is the formula: Y= V(t+ (i/c))^(tc) V=amount put in, t=time, i=intrest rate, c= amount of times it is compounded.

(I know this because I have a TI-83 calculator)

(I know this because I have a TI-83 calculator)

Mar 27, 2009 | Texas Instruments TI-83+ Graphing...

=10000*(1+0.96)^12

=10000*(1+0.10)^18

=10000*(1+0.10)^24

=10000*(1+0.10)^18

=10000*(1+0.10)^24

Dec 02, 2008 | Microsoft Office Professional 2007 Full...

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