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BA35ENG.DOC BA-35 Solar Quick Reference Guide
Pat Hatcher Revised: 05/08/00 1:13 PM Printed:
05/08/00 1:13 PM Page 23 of 38
Converting to EFF or APR
To convert to EFF or APR, use
2
to set the
calculator to the financial mode (
FIN
appears in
the display.)
Annual Percentage Rate (APR)
—The interest
rate per compounding period multiplied by the
number of compounding periods per year.
Annual Effective Rate (EFF)
—The interest
rate compounded yearly that achieves the
same future value as the APR. The EFF is the
rate at which you actually earn for the period of
time stated.
0
N
(APR to EFF)
—Converts annual
percentage rates to annual effective rates.
1. Enter the APR.
2. Press
0
N
.
3. Enter the number of compounding periods
per year (c/yr) for the APR.
4. Press
l
to calculate the EFF.
0
O
(EFF to APR)
—Converts annual
effective rates to annual percentage rates.
1. Enter the EFF.
2. Press
0
O
.
3. Enter the number of compounding periods
per year (c/yr) for the APR.
4. Press
l
to calculate the APR.
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