I hate the default calculators!

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yeehi
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Joined: 06/02/2012

Maybe it is because I don't know how to use them properly...

What I would like to be able to do is a compound interest calculation, where I enter the lump sum, then the rate of interest and then repeatedly hit enter, each time seeing the compounded lump sum.

With the calculators I have tried, I can only hit the equals button once. It won't let me repeat.

For example, to compound 10 dollars by an interest rate of 7% five times I hope to be able to do the following:

10x1.07=====

If you know how to do it, please let me know! I can't believe that the default calculator got a five star rating as an application!

akirashinigami

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Joined: 02/25/2010

I don't think you can do that, but you can type 10*(1.07)^5 to get the answer.

Magic Banana

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Joined: 07/24/2010

Indeed. And if you want to see the whole sequence, you had better use LibreOffice Calc (one column giving the exponents, the other making the computation).

yeehi
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Joined: 06/02/2012

Thanks, akirashinigami! I can't see the ^ key on the calculator. Which button is it?

Do I have to be in a special mode, like advanced to see it?

Magic Banana

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Joined: 07/24/2010

In any mode of Gnome-calculator except the "basic" mode (which is too... basic), you can either press the "x^y" button or the up-arrow-n button. Of course, you can also use the "^" key of your keyboard.

BinaryDigit
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Joined: 11/30/2010

I've found the function, I'm not having much luck actually getting it to work though.

It's under the Financial Calculator, called Future Value (FV button). You enter the periodic payment (principal), interest rate and the period. Then press Calculate. I haven't been able to produce a correct result. But I might be doing something wrong.

More instructions here: http://flsdemo.nrcfoss.au-kbc.org.in/content/docs/Gnome/gnome/users/gcalctool/5.28/gcalctool.html#gcalctool-financial-mode

akirashinigami

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Joined: 02/25/2010

You're not getting a correct result because periodic payment isn't principal, it's a payment that's made periodically. For example, if you were putting $300 per month into a savings account and it was earning 7% interest. You're not just making one payment, you're making them repeatedly.

BinaryDigit
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Joined: 11/30/2010

Oh right thanks, so its to calculate the future value of periodic payments into an account. Thats kinda strange isn't it? Most people are more likely to want to calculate a future value of a fixed amount, with compound interest.

There is another compound interest function (Ctrm) but you must know the future value ....