Texas Instruments BA-35 Quick Reference Guide - Page 23
Converting to EFF or APR
UPC - 033317176960
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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. 23