200702017-2 Simple InterestThis calculator uses the following formulas to calculate simple interest.u Formula365-day Mode SI : interestn : number of interest360-day Mode periodsPV : principalI% : annual interestSFV : principal plus interestPress 1(SMPL) from the Financial 1 screen to display the following input screen for simpleinterest.1(SMPL)n .................................. number of interest periods (days)I% ............................... annual interest ratePV ............................... principalAfter confi guring the parameters, use one of the function menus noted below to perform thecorresponding calculation.• {SI} … {simple interest}• {SFV} … {simple future value}• An error (Ma ERROR) occurs if parameters are not configured correctly.SI' = n365 × PV × iSI' = n360 × PV × iI%100i =I%100i =SI' = n365 × PV × iSI' = n360 × PV × iI%100i =I%100i =SI = –SI'SFV = –(PV + SI')SI = –SI'SFV = –(PV + SI')7-2-1Simple Interest
