If you are going to be determining how much payments will be on a loan, how a loan may be affected, or figuring out repayment terms, a finance calculator is an important piece of equipment to own. These are all very important articles of information for someone considering a mortgage or car loan. Having this type of calculator at your finger tips can help provide some legitimacy to what the car dealership or mortgage company is telling you.
When considering which financial calculator to purchase, you need to consider why you’ll be using it, how much you want to spend, and whether you need graphing and scientific functionality? It’s also important to know if you will be taking financial certification exams, such as the CFP, CFA, CPA, or Series 7. A financial calculator is also an extremely valuable tool for those who actually work within the finance industry. Loan officers or other jobs involved in approving or beginning loans will find they use their calculator multiple times a day, making owning one a necessity.
Here are 5 of the top rated financial and business calculators you can purchase online, all available through Amazon.com
1. HP 10bII, $26.22
The HP 10bII+ is the highest rated choice for calculating business and finance needs. There are over 100 time-saving, easily-accessible business functions that allow you to do your work quick and efficiently. This HP calculator allows you to easily calculate loan payments, interest rates and conversions, standard deviation, percent, TVM, NPV, IRR, cash flows, and more. Despite the low price of this calculator, it is still able to compete with the more expensive models. It is also capable of completing over 100 different math functions, and it has special programs for bond valuations and bond yield. The HP 10BII is is also permitted for use on the CFP Certification Exam, one of the few calculators allowed.
2. Calculated Industries 3405 Real Estate Master IIIX Real Estate Finance Calculator, $31.82
This financial calculator is specifically designed for real estate and mortgage professionals and can perform nearly every post-qualifying real estate calculation right there in front of the client, helping to boost sales. You can calculate complete payment solutions, amortization, combo loans, ARMs, rent versus buy comparisons, and much more. This tools allow for calculating mortgage payments, terms, interest, PITI payments, future value, as well as purchase price, and down payment figures. It can permanently store local property tax and property insurance rates for customized calculations that will help buyers and sellers develop an informative financial outlook while also performing numerous “what-if” calculations from variables like purchase price, down payment amount, and loan amount financing. If you understood what this paragraph said, then this is definitely the calculator for you!
3. HP 12c, $55.99
It is a bit more expensive than a budget financial calculator, but still less expensive than the high-end graphing calculators, making the HP 12c an ideal purchase for both students and professionals. Perhaps its biggest draw is its large numerical display screen that helps users to keep track of what they are typing. Some find the large numbers on the HP 12c easier for use. With respect to functionality, this calculator performs over 120 different finance and business functions. It covers everything from adding cash flow to addressing depreciation values and allows users to program functions into the calculator. The one downside is that you can find less expensive financial calculators that perform the same functions at a lower price. However, the CFA certification exam only allows the use of two calculators, including this one. The HP 12c is also acceptable for using during the CFP certification exam.
4. Texas Instruments BAII Plus, $29.02/ BAII Plus Professional, $41.99
The BAII Plus is the other financial calculator accepted in CFA certification exams. There are two versions of this particular calculator. This version is the scaled-down model of the professional one, so it is perfect for anyone using it at home. Its price is probably one of the best reasons to select this calculator, especially for those on strict budgets. The BA II offers very impressive features, including the ability to handle up to 24 uneven cash flow functions. Amortization, bonds, and depreciation functions are also included to ensure that it is capable of performing a variety of tasks, which makes the BAII Plus a wonderful calculator for those who only need limited functionality.
If you happen to be an accountant looking for your next office tool, the BA II Plus Professional is perfect for you. This professional model comes with many extra features without a hefty price tag along with it. It is a great investment for anyone pursuing a business, accounting, or economic career. Some of the main improvements in the BAII Plus Professional include advanced trigonometric and logarithmic functionality. This makes it ideal for advanced calculus classes and for computing complicated figures, as it is accepted in both the classroom and in professional settings.. However, it lacks some of the scientific and graphing capability found in other high-end financial calculators.
5. Sharp EL-733A, $25.94
As a budget financial calculator, it is not the ideal calculator for work in a professional field, but it is especially ideal for students. This calculator should last well through both high school and college, and it even has its own “finance mode” so that users have access to its functions. As with the other budget calculators, this model performs basic finance tasks. Mortgage loans, cash flow, and bonds are all calculated using it. The main downside to this option, however, is that its operation differs slightly from other major financial calculators, and it may take some extra time to learn all of its functions. But another plus is it is also acceptable for use on the CFP certification exam.
Happy tax season everyone! We here are SheBudgets hope you find the perfect financial calculator for your home or professional accounting needs!
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