Source: crunchytricks.com
How Do You Choose The Best Financial Calculator On The Market?
No matter how good you are at crunching numbers, when it comes to a business situation or if you are a student, a financial calculator is a must. It lets you quickly calculate more than just your basic addition, subtraction, multiplication and division.
From interest rates to loan payments to amortization and profit margin calculations they allow you to almost do complex calculations like a computer. Even graphs can be derived on some models for predicting future values. In our review below, we bring to you our top picks to help you choose the best financial calculator for your needs. Read on for more details.
1- HP 12CP Financial Calculator
[Editor Top Pick]
Good things come in small packages. This is probably the best way to explain the HP 12CP financial calculator. It has a number of features packed into a small device for those who want only the best.
Powerful
No matter how complex your financial calculations are you can do them all with the HP 12CP. From mathematical to financial calculations, everything can be done using this calculator making it a professional device. Analyze data, calculate interest rates, loan payments and TVM and much more with this little miracle of a device.
Sturdy
The device is made of extremely robust materials to withstand a lot of rough handling and usage.
Portable
You don’t want to be carrying a bulky calculator just to be able to do financial calculations. The HP 12CP comes in a convenient size that is small enough to be taken with you everywhere.
Function-Rich
With over 130 built-in functions, you will never feel handicapped when it comes to different calculations related to banking, finance and real estate. It is also widely used by business students.
Exam-Friendly
Investing in this calculator can be a good thing for both professionals and students alike as it is permitted for use in CFP, CFA and GARP FRM exams.
Notable Features
- Lightweight and portable for calculations on the go
- Long battery life for a frustration-free experience
- Accurate data entry with the RPN option
- Rotate and click key function avoids incorrect entry
- Backed by a 1-year warranty on parts and labor
- Handles up to 30 cash flows at a time
Overall Assessment
The HP 12CP is a best-seller not without any reasons. It comes from a reliable brand such as HP and is built after the original 12C that was the industry standard for almost 35 years.
2- Calculated Industries 3405 Real Estate Master IIIX Real Estate Finance Calculator
[Best Financial Calculator for Mortgage]
If you are looking for the best financial calculator for mortgages and real estate, then look no further. The Real Estate Master IIIX from Calculated Industries is just the one you need.
Real Estate Master
True to its name, the Real Estate Master has results for all your real estate financing problems. From PITI payment solutions to future values to amortization to sales price and down payment calculations you can get all the values at your fingertips.
TVM In a Jiffy
Time Value of money doesn’t have to be rocket science if you are not a professional or an accounts students. You can calculate TVM even if you are totally a beginner and helps you understand your mortgage better.
User-Friendly
Just because it is used by professionals, your calculator does not have to be complicated. The IIIX is very user-friendly and displays all the required details in an instant.
Solid Construction
Carry this little device with you everywhere from client meetings to your work desk. It had a durable construction with an aluminum front and a plastic back panel. The soft rubber buttons are easy on your fingers.
Notable Features
- Gives you complete PITI payments for your mortgage
- Multiple functions including ARMs, rent and buy comparison, amortization and more
- It can also calculate estimated tax savings
- Included battery and auto-shut-off feature (10 minutes) to save battery
- Backed by a one-year limited warranty
Overall Assessment
If you are a real estate or a mortgage professional you can hasten your sales with quick calculations using this financial calculator. Your clients will be impressed with the speed at which you give out values, thereby improving your professionalism.
3- Canon Office Products HS-1200TS Business Calculator
[Best Financial Calculator for Price]
If you are a business professional who has to constantly crunch numbers, then get yourself the HS-1200Ts from Canon. It is more than your regular calculator and will let you do business calculations accurately and instantly.
Business Calculations
Numbers are important and more so when you are running a business. Even small changes in profit margin can cost you if you don’t make accurate calculations. With this calculator, you can quickly calculate future values and compute cost, margin and sales.
Great Display
The large crystal 17mm display is angled for easy and glare-free reading of results. You can also adjust the angle of the display according to your comfort.
Additional Buttons
In addition to the regular calculation buttons on a calculator, this one comes with additional buttons to calculate square root and tax.
Light and Compact
Its compact size lets you take your calculator with you wherever you go and calculate values in a jiffy. Due to its lightweight, you can easily use it at work or in your meetings.
Non-Stop Performance
The calculator utilizes dual power source to extend the battery life. Solar power is used and the battery power is used as a back-up.
Notable Features
- Specifically designed for business calculations
- 12-digit display that accommodates more decimals
- Memory and recall function for viewing previous results
- Soft-touch keys for feedback on entry
- Large numbers for ease of reading
Overall Assessment
The HS-1200TS is not only for business calculations, but it has a metallic body making it look very professional too. This durable and able calculator will be with you for many years of business calculations.
4- Casio FC-200V Financial Calculator
The Casio FC-200V is specifically designed for real estate professionals. Though it cannot be used in CFA exams it can still be used by finance and business students.
One-Touch Access
A set of 12 instant access buttons lets your choose the mode you want for the various calculations. From simple interest to compound interest to amortization and more, you can calculate everything easily and switch modes with just a press of a button.
4-line Display
The FC-200V comes with a full dot 4 line display that makes scrolling between values and input of values easy and quick. The same feature also makes recalculation a breeze which can be done with just a press of a button.
Light Weight
Weighing only a mere 105 grams you won’t have trouble taking it with you for your meetings. It also feels light in your hand for ease of operation.
Runs Forever
It is not without a reason that Casio calculators are popular. Even though most calculator batteries last a really long time, this one is solar powered and battery-powered. This means you won’t have to change your batteries for a really long time.
Shortcut Feature
Not only is it easy to calculate financial problems with this calculator, you can also use shortcut keys to instantly recall a particular setting with two shortcut keys.
Notable Features
- A 14-digit display with 4-lines to make calculations easy
- Quick conversion of percentage interest rate to effective interest rate and vice versa
- Solar powered device with a battery for backup power
- Average battery life of 3 years
Overall Assessment
The FC-200V will be a great buy if you have to do financial calculations as part of your course or if you are a real estate professional. It also comes at a great price and will be a good investment for all your financial calculation need
5- Victor V12 Financial Calculator
If you want a quality financial calculator that has a maximum number of features but you don’t have a high budget, then the Victor V12 might be your best bet.
High on Features
With over 125 programmable options and up to 399 steps, the V12 is a super-capable financial calculator. Use it to calculate everything from interest rates to loan payments to amortization and much more.
Durable
The V12 is deliberately made to be bulky for use as a desktop financial calculator. It is very durable despite having a plastic shell. The silver front and black back give it a professional look while the black keys are soft touch for maximum comfort and proper entry.
Large Display
For a financial calculator, the V12 has a substantially larger display for easy reading of values. The display is also angled for glare-free and strain-free reading of results.
Data Entry
Both the RPN and algebraic method of data entry are possible with this calculator. In fact, you can easily switch between the two with a press of a button.
Notable Features
- Programmable financial calculator that is perfect for professionals
- A multi-purpose financial calculator for sales, finance, real estate and more
- Powered by long-lasting batteries that are easy to replace
- Backed by a 2-year warranty
Overall Assessment
If you love the HP-12C but don’t want to spend the money on it, then get yourself the Victor V12 which is only half as expensive but is equally capable.
6- Innovera 15925 Financial Calculator
If you think you can’t get a cheap financial calculator that is dependable too, then think again.The Innovera 15925 lets you do all the basic financial calculations for under few dollars.
Simple To Use
This is a simple to use calculator with basic functions to do all your financial calculations. In addition to the regular calculation keys, it has square root and percentage keys.
Mini Size
Forget using bulky desktop calculators which can be difficult to use when you need to quickly do some calculations at your desk. The Innovera 15925 is a mini desktop size that is compact enough to be handy when needed.
Wall-Mountable
This is a desktop calculator that also comes with the option of being wall-mounted for ease of use.
Dual-Power
The calculator works on both solar power and battery power. This means you batteries will last longer and you will need to replace them only once in a while.
Notable Features
- Calculator with an 8-digit display
- Large and angle adjustable screen which is senior citizen-friendly
- Comes with 15mm buttons for ease of use
Overall Assessment
If you want a simple and straight forward calculator for doing financial calculations quickly, then the Innovera 15925 will let you do it without burning a hole in your pocket.
7- Texas Instruments BA II Plus Financial Calculator
If you are looking for a CFA exam approved financial calculator that is affordable, then you should consider the BA II from Texas instruments.
Quick Calculations
You can make quick mathematical and financial calculations using this calculator. Both professionals and students can benefit from its ability to quickly calculate future values, interest rates and other accounting and finance related problems.
In fact, it is so versatile and user-friendly that you will feel as if you are working on an excel spreadsheet. No need to carry your laptop everywhere when you can take this portable device everywhere.
Solid Construction
Don’t be fooled by the plastic look of this calculator as it is very durable and sturdy. It is also made to be much lighter and sleeker than its advanced version.
Easy To Use
This is perfect for finance students as it is fairly easy to use. What’s even better, there are support materials for this calculator that give you step-by-step instructions for calculations.
Great Price
For almost half the price of the popular HP 12CP, it is a steal deal as it packs a lot of features.
Notable Features
- A perfect calculator for those taking up the CFA exams
- Worksheet mode option can be used for calculating bond, depreciation, amortization and compound interest
- Built-in memory lets you store and recall worksheets
- Comes with a battery that lasts a long time
Overall Assessment
Don’t even think twice if you are a finance, accounting or business student. The BA II Plus is not only very capable but is also one of the best CFA-approved financial calculators that is loved by students.
Conclusion
From real estate professionals to businessmen to finance, business and accounting students, a financial calculator becomes an important calculating tool. As the requirements in each of these cases can be different, you can find one that suits your requirement from our list above. Ditch reading reviews and wasting your time when you can find the best financial calculator for all your needs in one place. Which one will you pick?
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Resource Links
- https://www.newegg.com/Product/Product.aspx?Item=N82E16844101203
- https://www.300hours.com/articles/how-to-choose-your-calculator-texas-instruments-ba-ii-plus-vs-hewlett-packard-12c#.WTHByOuGOUk
- http://www.casio-intl.com/in/en/calc/products/FC-200V/
- http://topproducts.com/reviews/best-financial-calculator.htm
- http://www.casio-intl.com/in/en/calc/products/FC-200V/