EasyManua.ls Logo

Casio FP-200 - Payments Plan for Long-Term Loans; Program Outline; Directions

Casio FP-200
156 pages
To Next Page IconTo Next Page
To Next Page IconTo Next Page
To Previous Page IconTo Previous Page
To Previous Page IconTo Previous Page
Loading...
PAYMENTS
PLAN
FOR
LONG-TERM
LOANS
l~Z•t·ltl,,i•tnlti,t)
Long-term loans are a
convenient
means
to
pur-
chase a
home,
new
car,
or
other
expensive
articles.
There
are
four
modes
of
installment
payment
of
a loan.
They
are
equal
installments
of
principal,
equal
installments
of
principal
and
interests,
add-on,
and
installments
of
decreasing
principal
and
interests.
These
calculations
can
be
performed
by
a desk-
top
calculator
capable
of
handling
functions.
This
program
permits
performing
the
same
cal-
culations
on
the
FP-200
with
greater
case.
l•]it44tt•],f
l
(1) Equal
installments
of
principal
In
this
mode,
the
amount
of
monthly
payment
for
the
principal
remains
the
same
throughout
the
term
of
loan.
Since
the
balance
of
loan
decreases
linearly,
the
amount
of
interest
payment
and
the
amount
of
principal
plus
interest
decrease
accordingly.
Thus,
the
calculation
is
easy_
However,
this
mode
of
payment
is
not
realistic because
the
amount
of
payment
in
the
early
periods
is
relatively
greater
than
that
in
the
latter
periods.
(2) Equal
installments
of
principal
plus
interests
In this
mode,
the
amount
of
interest
for
the
entire
term
of
loan
for
the
total
amount
of
loan
is
calculated
without
regard
to
the
fact
that
the
balance
of
loan
long (e.g.,
housing
loan),
it
is
easy
to
make
a
payment
plan.
(3) Add-on
In this
mode,
the
amount
of
interest
for
the
entire
term
of
loan for
the
total
amount
of
loqn
is
calculated
without
regard
to
the
fact
that
the
balance
of
loan
decreases
gradlially.
Although
the
method
of
calculation
is
extremely
easy,
the
net
interest
becomes
much
higher
than
other
mode
of
payment.
The
add-on
system
is
often
used
for
commodities
sold
on
a
short-term
loan basis.
This
system
should
be
avoided
if
you
are
a
borrower.
(4)
Installments
of
decreasing
principal
plus
interests
66
In
this
mode,
the
monthly
payment
of
principal
and
interest
components
is
in-
creased
at
a fixed
rate
when
a
chronic
inflation
or
continual
increase in
income
is
expected.
Since
the
calculation
is
complex,
this
program
is
particularly
useful
when
using
this
mode
of
payment.

Other manuals for Casio FP-200

Preview: Service Manual
Service Manual73 pages

Related product manuals