3. Press l to perform the

calculation.

A Calculating the Number of Compound

Periods (

n

), Interest Rate (I%), Present

Value (Principal: PV), and Payment Amount

(PMT)

  Use the same procedure as shown under  Example 1 

(page E 46), substituting the required values.

A Calculating the Number of Months when a

Partial Month is Included

The following example shows how to calculate the number

of months (number of days/total days in the month) for the

number of compound periods (

n

) when a partial month is

include.

Example 1: When the payment period is 16  months and

20 days

1. Use fc to select  

n

 .

2. Input the division operation that divides the number of

days in the partial month (20 in this example) by the

total number of days in the month.

  This example assumes

that there are 30 days in

the month.

3. Add the number of full

months (16 in this example).

4. Press E.

Note

  This calculator always performs calculations assuming

that the partial month comes at the beginning of the

compound periods (

n

).

E 47