What is the effective monthly rate?

What is the effective monthly rate?

For example, a nominal interest rate of 6% compounded monthly is equivalent to an effective interest rate of 6.17%. 6% compounded monthly is credited as 6%/12 = 0.005 every month. The effective interest rate is a special case of the internal rate of return.

What is considered a financial calculator?

What is a financial calculator? A financial calculator is a device designed to perform certain equations that a basic calculator can’t handle. It is created with stand-alone keys, not available on other types of calculators, which allows it to perform more direct calculations.

What do you need to know about the sharp el-738?

BUSINESS/FINANCIAL CALCULATOR OPERATION MANUAL MODEL EL-738 1 NOTICE SHARP makes no guarantee that this product or this manual is suitable or accurate for any purpose, com- mercial or otherwise. Rules and practices in fi nancial calculation vary ac- cording to country, locality, or fi nancial institution.

Where is the reset button on an El 738 calculator?

Resetting the calculator Press the RESET switch located on the back of the calculator with the tip of a ball-point pen or similar object. Do not use an object with a breakable or sharp tip. • After resetting the calculator, the initial display of the NOR- MAL mode appears.

How to use sharp financial calculator for business?

Generate important financial information such as interest rates conversions, time value of money, cash flow and amortization. Simply input the relevant data and choose the appropriate function that you need, the Sharp EL-738 financial calculator will do the calculations in a breeze.

What can cause a sharpsa calculator to malfunction?

Raindrops, water spray, juice, coffee, steam, perspiration, etc. will also cause malfunction. • Clean with a soft, dry cloth. Do not use solvents or a wet cloth. • Do not drop the calculator or apply excessive force. • Never dispose of batteries in a fi re. • Keep batteries out of the reach of children.