(12C) Future Value Interest Factor

[Gamo]

FVIF is a factor which can be used to calculate the future value
of a series of annuities. The FVIF calculation formula is as following.

This formula was adapted from the program example in Casio CF-200 manual.

   

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Procedure:

For each new problem f [FIN] f [PRGM]

Interest Rate [R/S] display Interest
Terms (Year) [R/S] display FVIF answer

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Example:

You buy a 6 year, 8% CD for $1,000. Interest is compounded annually.
How much is it worth maturity?

f [FIN] f [PRGM] FIX 2
8 [R/S] display 8.00
6 [R/S] display 1.59
1000 [x] display 1586.87

Answer: Future Value = $1,587

This can be solve quickly using TVM
6 [n] 8 [i] 1000 [CHS] [FV] display 1586.87

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Program:

Code:


01 [i]
02 R/S
03 [n]
04  1
05 CHS
06 [PV]
07 [FV]
08 GTO 02

FVIF table:

   

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