The Best Financial Calculators

Financial calculators can come in handy for just about anyone, but they're most useful for college students and professionals who work in the finance sector. This electronic device helps people calculate mortgage payments, taxes, profit margins, interest income and much more. However, the usefulness of a calculator varies greatly depending on the specific model's design and features.
Functions

Some basic units can only perform a few specialized financial tasks in addition to standard calculations. On the other hand, sophisticated models often have 100, 120 or over 200 functions. They handle math problems ranging from depreciation to internal rate of return. More functions boost a device's versatility as well as its complexity and cost.

Notation

Most financial calculators will only allow you to enter equations algebraically. However, a few units accept reverse Polish notation. Some people find it faster and easier to use RPN. If you don't plan to perform advanced calculations, there's no need to worry about notation methods.

Ease-of-Use

Certain models are comparatively simple to operate. Some brands prioritize beginners when they design buttons, interfaces and instruction manuals. If you've never used a financial calculator, try to select a product that includes toll-free technical support and detailed directions.

Screen Size

Most of these devices can show 10 or 12 digits at a time. Choose a 12-digit model if you plan on entering any numbers that include precise fractions or exceed 9.99 billion. Look at the dimensions of the screen as well. Bigger digits enhance readability, especially if the unit also features a contrast control.

Some models have the ability to simultaneously display two, three or four lines. This makes it easier to type in lengthy formulas and review information that you previously entered. The only major drawback is decreased portability due to the unit's larger size.

Printing

Few financial calculators offer built-in printers or external printer ports. Nonetheless, this hardware proves useful when you want to keep a record of your calculations without taking the time to write them down. Units with integrated printers usually feature lighted screens, don't provide many specialized functions and have bulky designs.

Carrying Case

If you plan on bringing your calculator to classrooms, multiple offices or clients' homes, find a model that comes with a case. A soft fabric pouch can minimize scratching, but hard cases are more likely to prevent impact damage.

Digital Clock

Some calculators keep track of the current time and date. You will probably only find this feature on a few high-end models. If desired, the built-in clock can sound an alarm at a specific time. This convenient function may slightly increase power consumption.

Power Source

Most financial calculators run on AAA, LR44, CR2032 or CR2 batteries. To conserve energy, many units automatically turn off after a period of inactivity. Some models feature tiny solar panels, and printing calculators typically have AC electrical cords.

Guarantees

Even if you need to pay for shipping, the limited size and weight of a calculator makes it relatively easy to take advantage of a warranty. Many manufacturers guarantee these devices for one or two years, and it's not uncommon for retailers to sell additional coverage.

Recommendations

If you search the web for financial calculators, you'll find dozens of products to compare. Many models probably wouldn't suit your needs, skills or preferences. You may save time and narrow down the choices by looking at these popular, competitively priced products.

Do you seek an inexpensive, simple unit that you can quickly learn to operate? If so, check out the Canon FN600. It costs around $12, and customers rate it 3.7 stars on average. This 12-digit model converts currencies, calculates loan payments and adds up earnings from interest.

If you're looking for a sophisticated yet affordable calculator, consider the Victor V12. It sells for less than $20 and receives numerous positive reviews. Among other things, you can enter equations using RPN, find an internal rate of return or perform bond calculations. The V12 runs on AAA batteries.

Casio's FC-200V provides an appealing option if you want a large display and long battery life. The American-made unit boasts a four-line screen and runs on solar or battery energy. This mid-priced model handles amortization, depreciation, appraisal and margin calculations.

Look at the HP 10bII+ when you desire a highly rated calculator with impressive capabilities. It performs more than 100 functions; they pertain to things like cash flow, standard deviation and interest. The 10bII+ costs approximately $25. It has a contrast control and draws power from a pair of CR2 batteries.

If your career involves real estate or home loans, the Calculated Industries 3430 Qualifier Plus IIIFX could offer the best solution. It has many functions that relate to mortgage insurance, adjustable rates, balloon payments and closing dates. The manufacturer guarantees this product for 12 months.

Would you like to buy a full-featured unit that expedites the learning stage? The HP 12C comes with a particularly helpful and detailed instruction manual. Quick reference information appears on the calculator's base. This model features RPN, over 120 functions, a 10-digit screen and retro styling. It also comes with phone-based support and a 12-month guarantee.

If you're able to spend the extra cash on a calculator that does almost everything, look no further than the HP 17bII+. This unit boasts more than 250 financial functions. You can choose between algebraic and RPN equation entry modes. The 17bII+ also provides an appointment calendar and clock. However, it will cost you nearly $90.

Before making a purchase, be sure to carefully examine the requirements of any classes or tests that you intend to take. There's no need to buy a high-end unit unless you plan to major in finance or engage in work that demands particularly advanced calculations. Extra functions will only complicate the learning process if you don't really need them.

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This page about Financial Calculator was composed by V. Tobies and published by Alternative.me.
It was last updated on 2024-04-25 08:10:16 and has been viewed 4960 times.