Education Technology

# Knowledge Base

## Solution 11205: Calculating Quarterly Payments on the BA-35 Solar.

### How do I calculate quarterly payments on the BA-35 Solar?

The example below will demonstrate how to calculate quarterly payments on the BA-35 Solar.

Example: What is the quarterly payment on a mortgage for $75,000 at 8.5% interest compounded quarterly for 30 years? Given Information: N = 120 %i = 8.5 PV = 75,000 PMT = ? FV = 0 Solution Steps: • Press the [2nd] key and the [CE/C] key • Set Decimal setting to two places: Press the [2nd] key then the [CPT] key then 2 (This fixes the decimal to 2 places.) • Input 75000 and press the [PV] key (This stores 75000 to the present value register.) • Input 8.5 divided by 4 [=] and press the [%i] key (This stores the quarterly interest rate of 2.13 to the interest per year register.) • Input 30 [x] 4 [=] and press the [N] key (This stores 120 to the N register.) • Press the [CPT] key and the [PMT] key The quarterly payment is$1,732.71.