44 Section 3: Basic Financial Functions
As in Example 1, it is likely that only 57 full deposits will be required, the next
and final deposit being less than $50. You can calculate this final, fractional, 58th
deposit as in Example 1, except that for this example you must subtract the
original FV. (In Example 1, the original FV was zero.) The procedure is as
follows:
Keystrokes (RPN mode) Display
fCLEARG
6.25\24z¼
0.26
Calculates and stores i.
775Þ$
–775.00
Stores PV (with minus sign for cash
paid out).
50ÞP
–50.00
Stores PMT (with minus sign for
cash paid out).
4000M
4,000.00
Stores FV.
gÂ
4,000.00
Sets the payment mode to End.
n
58.00
Number of semimonthly deposits.
2z
29.00
Number of months.
Keystrokes (RPN mode) Display
MM
4,027.27
Calculates FV – which equals the
balance in the account if 58 full
deposits were made.
a
:P
–50.00
Recalls amount of deposits.
+
3,977.27
Calculates the balance in the
account if 57 full deposits were
made and interest accrued during
the 58
th
month.
b
4000-
–22.73
Calculates final, fractional, 58
th
deposit required to reach $4,000.