Co-Authored By:

##### Asked by: Romaysae Woodhouse

business and finance interest rates# What does P Y mean on a financial calculator?

payments per year

In this regard, what is PY and CY on financial calculator?

I/Y – nominal annual rate of interest per year (entered as a %; NOT a decimal) C/Y – # of interest compounding periods per year P/Y – # of payment periods per year PV – present value (the amount of money at the beginning of the transaction.)

**Formulas where n = 1 (compounded once per period or unit t)**

- Calculate Accrued Amount (Principal + Interest) A = P(1 + r)
^{t} - Calculate Principal Amount, solve for P. P = A / (1 + r)
^{t} - Calculate rate of interest in decimal, solve for r. r = (A/P)
^{1}^{/}^{t}- 1. - Calculate rate of interest in percent.
- Calculate time, solve for t.

One may also ask, what does PMT mean on a financial calculator?

Payment (**PMT**) This is the payment per period. To calculate a payment the number of periods (N), interest rate per period (i%) and present value (PV) are used.

C01 **is** cash flow at time period 1. ? **F01** = frequency of C01, and so on.