Casio BF-100 - Page 26

5. Installment savings (when an initial deposit is made)
Example ~ What is the total amount of savings at the end of 1 year when an initial deposit
is made and then monthly deposits of $250 are made at the end of each month
at a 4.5% annual interest rate compounded monthly?
OPERATION READ-OUT
aN
EAU
OUT
“INT”
(wy) 3
(period)
12
Wl)
(interest
rate)
40158128
(initial deposit) 500 Wry
{total amount of principaleand interest) (5) FY) id
“SF, Gm’'*
(monthly
deposit)
250
&
my
iM
250.
(2)
|™
12.
te
~48-
(total
amount
of
principal
and
interest)
.
eIEY
mH)
|M
3062.655002
(grand
total)
“
3585.624915
*
For
end
of
month
deposits,
use
end
of
period
"'
GB"
function.
6-6 Deferred annuity present values
e
Future
value
(€)),
deferral
period
(@)
and
interest
rate
(@)
are
input
using
the
“INT”
mode.
Payment
(®)
and
payment
period
input
as
well
as
present
value
calculation
are
performed
using
the
“LOAN”
mode.
-
@
Deferred
annuity
present
value
can
be
calculated
using
either
beginning
of
period
payments
or
end
of
period
payments
by
pressing
[a
to
display
‘gem’
or"
gaa".
Example
—
What
is
the
present
value
of
a
2
year
deferral
future
value
that
will
provide
an
income
of
$300
per
year
for a
period
of
8
years
after
2
years
at
an
annual
interest
rate
of
7%
compounded
annually?
-~49-
vo ge Nee