Casio series fx-9860g Manual De Usuario

20070201

This calculator uses the discounted cash fl ow (DCF) method to perform investment appraisal 
by totalling cash fl ow for a fi xed period. This calculator can perform the following four types of 
investment appraisal.

• Net present value ( 

)

• Net future value ( 

)

• Internal rate of return ( 

)

• Payback period* ( 

)

* The payback period ( 

) can also be called the “discounted payback period” ( 

). 

When the annual interest rate ( 

%) is zero, the  

 is called the “simple payback period” 

(

).

A cash fl ow diagram like the one shown below helps to visualize the movement of funds.

With this graph, the initial investment amount is represented by  

0

. The cash fl ow one year 

later is shown by  

1

, two years later by  

2

, and so on.

Investment appraisal can be used to clearly determine whether an investment is realizing 
profi ts that were originally targeted.

u  NPV

: natural number up to 254

u  NFV

u  IRR

In this formula,  

 = 0, and the value of  

 is equivalent to  

 × 100. It should be noted, 

however, that minute fractional values tend to accumulate during the subsequent calculations 
performed automatically by the calculator, so  

 never actually reaches exactly zero.  

becomes more accurate the closer that  

 approaches to zero.

0

1

2

3

4

5

6

7

0

1

2

3

4

5

6

7

 = CF

0

+           +            +            + … +

(1+ i)

1

(1+ i)

2

2

(1+ i)

3

3

(1+ i)

=

100

%

 = CF

0

+           +            +            + … +

(1+ i)

1

(1+ i)

2

2

(1+ i)

3

3

(1+ i)

=

100

%

= NPV 

× (1 + i )

= NPV 

× (1 + i )

0 = CF

0

+           +            +             + … +

(1 + i )

1

(1 + i )

2

2

(1 + i )

3

3

(1 + i )

0 = CF

0

+           +            +             + … +

(1 + i )

1

(1 + i )

2

2

(1 + i )

3

3

(1 + i )