Calculate loan with a Casio FC 100
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rarnaud Posted messages 6 Status Membre -
rarnaud Posted messages 6 Status Membre -
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!!!!
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
On the website, my Casio model isn't listed because it's too old
Thanks anyway
Take care
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!