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The calculator assumes that interest rates remain unchanged for the term of the loan, which is unlikely to be the case. The calculator also assumes that the interest rate applicable to interest only repayments is the same as the interest rate applicable to principal and interest repayments, which is unlikely to be the case.
Calculator Applications Elements of the Contest The Calculator Applications Contest involves a thirty-minute test comprised of 70 mathematical problems that are solved with a handheld calculator:
| Heat Pipe Calculator This program will give a performance curve of a traditional copper-water heat pipe with the given input values. This curve is a guide to help estimate heat transport capacity for ACT’s copper-water heat pipes using common wick structures.
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Back in the 80s and early 90s, we would have imagined basic calculators to be the most advanced gadget for calculations. But one calculator makes the basic calculator seem like the Stone Age. Enter the scientific calculator – the ultimate high-tech gizmo to compute all your complex calculations, algorithms, logarithms, and even graph projections.
In the above example, if your organization is not covered under the Act, then the calculation will be as follows – Gratuity = Rs 80,000 x (15/30) x 10 = Rs 4.00 lakhs For employees covered under the Act, the benefit of a lower denomination is given. Hence, working days in a month are taken as 26 days instead of 30 days.