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Applications continue
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 1 |
Enter current or most recent payment number, press n.
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| 2 |
Enter total number of installments, press n.
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| 3 |
Enter total amount of finance charge or interest fee, press PV.
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| 4 |
Press SOD (COMPUTE) to obtain interest portion of final installment.
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| 5 |
Press x y to obtain unearned interest (rebate amount).
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| 6 |
Enter the regular installment amount, press SAVE .
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| 7 |
Enter the number of installments remaining on the loan, press × x y – to obtain the amount of principal outstanding.
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Sample Case: A 30-month, $1000 loan having a finance charge of
$180.00 is being repaid at $39.33 per month. What is the interest
portion of the 25th payment? What is the interest rebate at that point?
What is the remaining principal?
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Solution
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interest for payment 25
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unearned interest (rebate) for payment 26–30
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amount of principal outstanding after payment 25
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Merchandising, Purchasing
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Cost and Price (Markup, Chain Discounts)
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Among the most used business calculations are those related to
establishing retail prices based upon costs, trade discounts and profit
margins.
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This calculation finds the amount of markup, net price, dealer discount and list price when the per unit manufacturing/purchase cost, profit margin and dealer discount rates are known. Information is entered as follows:
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| 1 |
Enter unit cost, press SAVE .
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| 2 |
Enter profit margin rate, press % to obtain amount of markup.
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| 3 |
Press + to obtain net price.
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| 4 |
Enter 1, press SAVE .
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| 5 |
Press discount rate, press % –.
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| 6 |
Repeat step 5 for each discount rate.
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| 7 |
Press ÷ to obtain list price.
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