Question about Sharp EL-531VB Calculator

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Compound interest On my Sharp EL 531W calculator, can you tell me how to calculate interest compounded daily for two years at 4.25% on $400?

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Http://www.sharpusa.com/files/cal_man_EL531_509.pdf.

Posted on Mar 10, 2008

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How do i calculate the future value of 1790.62 made every month for 15 years in an account earning 11,9% per yeat, compounded monthly?


Hello there, Well from compounded yearly, it comes to $896,692.82.
I don't see how compounded monthly makes any difference if the Intetrest rate is yearly at 11.9 %.
The quick and dirty calculator I used is here, http://www.financialcalculator.org/investing/interest-calculator

You gonna be rich Bro :)

Sep 10, 2014 | Calculators

1 Answer

How do you calculate and charge interest on outstanding accounts


That question is much more complicated than you think - are you charging interest percentage daily? Weekly? Monthly? Anually? Once you have the period figured, you begin at some start point of your choosing. Exactly one "period" later, you multiply the basis (the outstanding balance) by the percentage rate (5%, for example, would mean you multiply by 0.05), then add that number to the basis - that's your new basis, your new outstanding balance.

But... if you charge an annual interest rate, and you compound daily or weekly or monthly, you have to take payments into account and adjust for them - it's fair to charge interest up to the moment of payment, but not beyond that moment; you can rightly only charge interest on the remaining unpaid balance beyond that date.

If you charge an annual interest rate but compound monthly, then every month you'd charge 1/12 of your annual interest rate. If weekly, 1/52. If daily, 1/365. The smaller the compounding period, the easier it is to calculate interest around payments, but the more paperwork is involved.

Jul 14, 2014 | Calculators

1 Answer

How do i calculate interest on a R20000.00 loan at 13% for 5 years on teh sharp el738f calculator


Hi there,

First make sure all previous amounts stored are cleared by pressing 2nd F MODE.
Then type in the original value 20 000 and press PV.
Type in the interest 13 and press I/Y.
(If i assume that the interest is compounded yearly my calculation is more simple)
press 5 and N
Press COMP FV and your answer will be - 36 848.70

(If I assume that the interest is compounded monthly, i need to input a little bit more data into my calculator)
Press 2nd F I/Y (to get to payments per year) and press 12 and ENT. Press ON.
Then press 5 and 2nd F N and then press N again.
Now calculate FV by pressing COMP FV which should give you - 38 177.13.

Take this value and subtract the PV from it to get the amount of interest earned.


May 16, 2014 | Sharp EL-738 Scientific Calculator

1 Answer

COMPOUND INTEREST


But how often is the interest applied, yearly or monthly? If yearly, then the last 3 months don't earn anything at the 29 mo point. So $27624.

If applied monthly the usual trick is to simply divide the yearly rate by 12 = 1.32% per mo. So after 29 mo, $30132

Dec 18, 2013 | Sharp el-531x scientific calculator

1 Answer

I want to invest R10000 in a bank investing at 14% compounded twice a year


Invest R10000 in a bank investing at 14% compounded twice a year.

A = P(1+i)^n, where A is the amount, P is the principal or initial investment, i is the interest rate per period, and n is the number of periods.

If the annual rate is 14%, the semi-annual rate is 7%. One year is now composed of 2 6-month periods.

So after one year, we have A = 10 000 (1.07)^2 or 11,449.

Good luck,

Paul

Nov 19, 2013 | Sharp EL-738 Scientific Calculator

1 Answer

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.

Feb 22, 2011 | Sharp EL-738 Scientific Calculator

2 Answers

I have a Sharp EL-531W.All keys work except for sin cos tan hyp.


No solution, but I have the exact same problem with a Sharp EL-531W calculator. Doesn't matter whether mode is degrees, radians, etc., and resetting with button in back has no effect.

Feb 26, 2010 | Sharp EL-501WBBL Calculator

1 Answer

Hi i have a problem with my Hp10bII calculator everytime i tried to calculate N3 I/YR5 PV-100 PMT0 FV should 115.76 but in my calculator gives me 101.26


101.26 is what you'd get for 5% APR compounded monthly for three months. 115.76 is what you'd get for 5% APR compounded yearly for three years. Make sure that the compounding interval and the interest rate are consistent.

Jan 06, 2009 | HP 10bII Calculator

1 Answer

Invalid computation


Hmmm, I don't think the problem is with your calculator. I'd be checking the accounting question again as I don't think you've got your annuity question structured right.

4 Year Annuity
14% Annual Interest Rate
Your contributing $4,000 per year over the next 4 years
and you already know the future value is $50,069?

You'd have to make annual payments of $11,878.93 (4 of them) at that annual interest rate to get to a future value of $50,069 (which has a present value of $43,632.24).

Are you sure that the FV isn't the trade in value at the end of the 4 years?

Oct 05, 2007 | Sharp SHREL738 Calculator

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