Victor Technology V12 - Manual (Page 12)

V I C T O R T E C H N O L O G Y
12
Example
Calculate the simple interest on a 100,000 amount with 12% annual interest for
180 days using the 360 day cycle and the 365 day cycle.
ENTRIES DISPLAY
100000 CHS PV
-100,000.00
Displays the amount.
180 n .
180.00
Displays the number of days for which interest will
be calculated
12 i .
12.00
Displays the annual interest rate
. b INT
6,000.00
Displays the simple interest on a 360 day basis
R↓ x↔y
5,917.81
Displays the simple interest on a 360 day basis
In RPN method, touching + after the calculation places the total principal and
interest accrued into the display.
To display total principal and interest accrued in ALG method, touch + x ↔ y
. = .
Example
You take out a loan of $900, which you have 90 days to repay. You are lent the
money at 4.3% simple interest, which is calculated on a 360-day cycle. You
want to find the total amount of accrued interest you will owe in 90 days, the
total amount you will owe including principal.
ENTRIES (ALG) DISPLAY
900 CHS PV
-900.00
Displays the amount.
90 n .
90.00
Displays the number of days for which interest will
be calculated
4.3 i .
4.30
Displays the annual interest rate