How to calculate the Interest Rate

The interest rate represents the cost of using the money. Therefore, the price paid by anyone for the use of money or product that you have been assigned.

Example: when buying a fridge worth sight $ 1,299 .00 and the provision would input 0 and 20 plots of R$119,00. What would be the interest monthly charged this provision? 

And we reckon on HP 12 c calculator is pretty simple.

-Tell the calculator that comes postecipada series (if it is already configured, no need to do this step): g end;

- Move the value in sight: 1299 CHS PV;

- Bid the number of installments: 20 n;

- Bid the value of parcel:119 PMT;

- Press i for know the fee.

Therefore, the interest rate charged is 6.62% to month.

Note: the key CHS reverses the sign of the value in cash, making it negative. This needs to be done because the PV signal should always be opposite the PMT signal. 

For more information: http://www.renatoaulasparticulares.com.br/dicas12C.htm#dica_10