Data processing apparatus having alterable interest rate mode capability

• US 4,507,745 A
• Filed: 12/21/1981
• Issued: 03/26/1985
• Est. Priority Date: 12/21/1981
• Status: Expired due to Fees

• Current Assignee: Texas Instruments, Inc.
• Original Assignee: Texas Instruments, Inc.
• Inventors: Agrawal, Mahendra P.
• Primary Examiner(s): NOT, DEFINED
• Assistant Examiner(s): Wiens, Tim A.
• Application Number:
  US06/332,437
• Time in Patent Office: 1,191 Days
• Field of Search: 364/408, 364/705, 364/709, 364/715, 364/200, 364/900
• US Class Current: 708/134
• CPC Class Codes: G06F 15/025 adapted to a specific application
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03

Abstract

A data processing apparatus having preprogrammed functions for calculating interest rate dependent variables employs an interest rate mode designation command to enable operation in a selected one of a set of interest rate modes. In the preferred embodiment actuation of an AEC key advances the interest rate mode in a circularly sequential manner among annual percentage rate (sometimes referred to an annual nominal interest rate), annual effective interest rate and annual continuous interest rate. In the preferred embodiment actuation of a key sequence including a compute key and the AEC key enables conversion of an interest rate specified in a first mode into an interest rate specified in the next sequential mode. The data processing apparatus includes a means for outputting an indication of the current interest rate mode.

Claims

1. A data processing apparatus comprising:

an operator input means for entering numerical data and operational commands, said operational commands including (a) at least one interest rate dependent operational command corresponding to an interest rate dependent data processing function and (b) at least one interest rate mode designation command for designating one of a plurality of interest rate specification modes, said operator input means further includes means for designating one of a circularly sequential ordered set composed of said plurality of interest rate specification modes and means for designating the next sequential one of saidordered set of said interest rate specification modes upon entry of said interest rate mode designation command;

an arithmetic means, responsive to said input means, for performing entered operational commands on entered data and generating a result, including performing interest rate dependent operational commands on entered data in the designated interest rate specification mode; and

an output means for generating an operator perceivable indication of said result generated by said arithmetic means.

2. A data processing apparatus as claimed in claim 1, wherein:

said sequentially ordered set of interest rate specification modes is composed of annual percentage interest rate, annual effective interest rate and annual continuous interest rate.

3. A data processing apparatus as claimed in claim 1, wherein:

said output means further includes means for generating an operator perceivable indication of said designated interest rate specification mode.

4. A data processing apparatus as claimed in claim 3, wherein:

said output means includes visual display means having a plurality of digits for providing an visual indication of said result and having an interest rate mode indicator for providing a visual indication of said designated interest rate specification mode.

5. A data processing apparatus as claimed in claim 1, wherein:

said operator input means includes a keyboard having a plurality of operator actuable keys including an interest rate specification mode key.

6. A data processing apparatus as claimed in claim 1, wherein:

said operational commands further include a plurality of independent variable designation commands, each for designating entered numeric data as a corresponding independent variable in said interest rate dependent data processing functions, said independent variables including the number of compounding periods per year and the number of payment periods per year, and

said output means further comprises means for generating an operator perceivable indication of the type of independent variable upon entry of the corresponding independent variable designation command.