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Calculate loan with a Casio FC 100

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pierly 0384 -  
rarnaud Posted messages 6 Status Member -
Hello,
I have this Casio FC 100 and without a manual, I'm struggling to calculate a loan payment!
Thank you for letting me know the procedure!!!!
Configuration: Windows XP Internet Explorer 6.0

3 answers

  1.
    Raymond PENTIER Posted messages 58229 Registration date   Status Contributor Last intervention   17 494
     
    See the CASIO website
    --
    Retirement is great! Especially in the Antilles... :-)
    ☻ Raymond ♂
    5
    1. pierly 0384
       
      I wish I were in the Caribbean right now !!!!
      On the website, my Casio model isn't listed because it's too old
      Thanks anyway
      Take care
      0
    2. Steon > Sophie
       
      It's very simple ("MODE" key)

      Start by pressing "MODE" "1" "MODE" "6" "SHIFT" and then "AC" (this is just to clear any numbers that may have been stored in memory and could distort the calculations)

      Example: a loan of 50,000 euros at 3% per year over 10 years (120 monthly payments).
      We want to know the amount of the payment to be made

      Type "50000" "PV" "3" "i%" "10" "n" then "COMP" and "PMT"

      I explain:

      50,000 PV = Principal 50000 Previous Value
      3 I% = Rate
      10 N = Number of periods
      COMP = Compute
      PMT = Payments

      The result will be €5861.52 for each annual payment

      To get the monthly payment, press "SHIFT" before "N". It will show 120 (months) instead of 10 (years)

      Similarly with the rate: press "SHIFT" before "I%" to get the monthly rate.

      Another example: We want to know the rate of a loan of €50,000 over 10 years for which we pay €600 per month and for which we will have paid a total of €65,000 in the end (principal + interest)

      Type "50000" "PV" "-600" "PMT" "65000" "FV" "10" "SHIFT" "n" then "COMP" "i%"

      Same principle as before:

      50000 PV = Initial principal (previous value)
      -600 = payment (don’t forget the minus)
      65000 FV = Final value
      10 "SHIFT" n = 120 monthly payments
      COMP = Compute
      i% will give the rate

      And so on... You need to enter the parameters you know (PV, FV, I%, PMT, N... then press "COMP" and the parameter you are looking for.

      Good luck!
      1