The tutor shows how to find the balance of a savings account after monthly deposits over a period of years, using the Texas Instruments BA-35.

Example: $100 is deposited into a savings account each month for five years. If the interest is 3.25% compounded monthly, what will the end balance be?

Solution:

1. Clear the calculator by pressing 2nd FRQ, then 2nd N.
2. Key the following inputs: 100 PMT 3.25÷12= %i 5×12= N 0 PV CPT FV
3. Hopefully you receive the answer -6505.475. The negative simply means “output”, while the deposits were “input”.

This calculation assumes end-of-month deposits. The BA-35 I’m using predates the solar; it doesn’t have a BGN function. It has DUE, which apparently can be used to calculate payments received from an annuity due (beginning-of-month), but can’t be used to set deposits to beginning-of-month. (This is as far as I can tell, anyway.) The solar BA-35, however, does have a BGN function for that purpose.

HTH:)

Source:

BA-35 Solar Quick Reference Guide.

Jack of Oracle Tutoring by Jack and Diane, Campbell River, BC.