Question about Sharp SHREL738 Calculator

# I am trying to calculate effective annual rate. For example 10% quarterly compounded Key. Touch. Display 9 .75 2nd,nom%. 9.75 365. 2nd,p/r. 365 2nd,eff% I cannot get this to work. How do I touch 2 nd nom%? The only key I can guess is nom%. Is the orange % over the divide key

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## 5 Suggested Answers

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Posted on Jan 02, 2017

SOURCE: compound interest

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

Posted on Mar 10, 2008

Hello,
You have several number display formats : Normal1, Normal2, Sci, ENG
If a number is too small or too large and the calculator cannot display it with the necessary number of digits (to satisfy your of decimal digits) the calculator uses Scientific notation
7.4E-14 =7.4x10^(-14)
If you were to use the norma1 or normal2 format you will have
.0000000000000074 but your calculator displays only the first 10 places

You should learn to use and interpret results in scientific format.

Hope it helps

Posted on Sep 07, 2009

Hi,

Jane starts with 1200\$ at the beginning of the first year, and at the end of the fourth year she has 1200\$+300\$=1500\$
Use x for her annual interest rate, that means at the end of the first year she will have 1200\$*[(100+x)/100]. At the end of the second year her first-year money earns at the same rate, so she will have 1200\$*[(100+x)/100]*[(100+x)/100]=1200\$*[(100+x)/100]^2 at the end of the second year.
At the end of the third year she will have 1200\$*[(100+x)/100]^2 *[(100+x)/100]=1200\$*[(100+x)/100]^3
At the end of the fourth year she will have
1200\$*[(100+x)/100]^3 *[(100+x)/100]=1200\$*[(100+x)/100]^4 which is equals to 1500\$

1200\$*[(100+x)/100]^4=1500\$ divide both sides by 1200\$
[(100+x)/100]^4=1,25 take the fourth root of both sides
(100+x)/100=1,05737 both sides*100
100+x = 105,737 both sides -100
x=5,737
So Jane's annaual interest rate was 5,737%.

Hope it helps you.

Posted on Mar 15, 2011

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 !

Posted on Sep 13, 2011

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## Related Questions:

### How to Calculate NPV?

NPV stands for Net Present Value. Using this scientific calculator, you must utilize a formula to calculate net present value.

For example, if we want to find out what the net present value of \$10,000 is using a 4% annual interest rate for 10 years. In other words, what amount do we have to invest today for 10 years assuming we get a 4% annual interest rate.

NPV=10,000(1+0.04)^-10

To do the exponent, use the ^ key.

Good luck.

Paul

Feb 26, 2016 | Texas Instruments Ti 30x Iis Scientific...

### When interest is compounded why does the accrued amount not become the principal aount for the next period of time

It becomes part of the new principal. The new principal is equal to the old principal + interest for the period.

As an example:
Principal \$100
Interest Rate 10% compounded annually

Opening Closing
Balance Interest Balance
100 10 110
110 11 121
121 12.10 133.10

Good luck.

Paul

Mar 22, 2015 | Office Equipment & Supplies

### 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 | Office Equipment & Supplies

### 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 %
A very common error is not pressing N to store the number of total payments into the calculator.
If this is not the example you meant, please let me know - and I will explain the other example.
good luck

Jun 23, 2014 | Sharp EL-738 Scientific Calculator

### 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

### How to calculate on BA-II Plus the number of annual compounding periods

Actually, you don't need the y^x key.

Clear the financial registers with 2nd [CLR TVM]
Enter the present value: 1 0 0 0 0 0 0 +/- FV
Enter the future value: 2 0 0 0 0 0 0 FV
Enter the interest rate: 7 I/Y
Compute the number of periods: CPT N

Mar 24, 2013 | Texas Instruments BA II PLUS Financial...

### We are not obtaining the correct answer when computing the I/Y. The problem is N=30, PV=-500, PMT = 0, FV = 10000. We are getting 126.01

Since you didn't specify what result you were expecting, I can only guess at what you want.

The answer is correct assuming 12 periods per year. To have 500 increase to 10000 in 30 months, you need an annual interest rate of 126%. For a more realistic result, set the number of periods per year to one by pressing 1 SHIFT [P/YR] then repeat the calculation. This will produce 10.5% for the annual interest rate.

Alternatively, if the interest is compounded monthly, specify 360 for N. This will give a value closer to 10% annually, compounded monthly.

Sep 17, 2011 | HP 10bII Calculator

### You are to make a series of quarterly deposits of 12500 in the bank that pays 14% every 3 months. if your first deposit is mAde on february 15, 2007 and the last in august 15, 2013, how much will these...

If the bank truly pays 14% quarterly (which works out to about 69% annually) then the final amount is about 2,604,159 .
If the bank actually pays 14% annually compounded quarterly then the final amount is about 534,766 .

Without knowing what make and model camera (or calculator) you're using, I can't give you the exact sequence to calculate these values.

Jul 29, 2011 | Cameras

### 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

### 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 !

Oct 29, 2010 | Sharp EL-738 Scientific Calculator

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