Financial calculators are important assets for financial professionals and students. They are also great for individuals who need to perform financial calculations for business purposes or personal finance. While they can be used for performing regular mathematical calculations like any other handheld calculator, they are most ideal for complex calculations. With lots of advanced functions that are not found in standard calculators, the financial calculator makes the calculation of things like cash flow, investment values, loan-related expenses, interest, and other financial variables easier.
Here, we will look at some of the very best financial calculators you will find anywhere and discuss ways to pick the perfect one for you.
Top 7 Best Financial Calculators
This is one of the all-time best financial calculators on the market. About three decades after it was first released, the calculator has remained a top choice for most finance professionals including auditors, money managers, product managers, and several others. It is one of the most durable calculators and also boasts of excellent battery life. It has a one-line 10-digit display that is an adjustable contrast LCD.
When it comes to functionality, this is an excellent calculator with all the features you need to perform financial calculations. There are more than 130 built-in business, finance, statistical, and math functions including undo and backspace. It also has an algebraic entry system with parentheses. The memory function of the calculator allows it to handle up to 400 steps for the 130 functions. It is well built and shock-resistant. It is powered by 1 CR2032 battery that some users say they have never replaced in over a decade. Overall, this is an exceptional and reliable financial calculator for professionals and students.
This is one of the most outstanding financial calculators on the market in terms of the variety of functions it offers. It is also an excellently built device that will stand the test of time. It makes the calculation of variables like internal rate of return (IRR), net present value (NPV), and net future value (NFV) easier. This helps to make cash flow analysis easier and faster. It also offers 6 different methods that can be used to calculate depreciation. With more than 170 functions, this is an excellent financial calculator for accountants, investors, analysts, traders, and business/accounting/finance students as it is accepted for several professional exams.
Using this Texas Instruments financial calculator will cut down the time spent on the calculation of leases, loans, mortgages, and savings. It features a prompted display that will guide you through financial calculations. It also has a worksheet mode that includes tables for bond, depreciation, amortization and compound interest. The design is also excellent with different colored keys that make finding functions easier. It is constructed of metal with anti-slippery rubber feet.
3. HP 10bII +
This is one of the most capable financial calculators you will find anywhere. It is one of the best models from HP and comes at an attractive price. It makes the calculation of such variable as interest rates, cash flows, loan payment and others super easy. With lots of dedicated keys that provide quick access to the commonest financial and statistical functions, this calculator is very easy to understand and use. The 12-digit display makes it easier to view whatever you input and the answers generated by the calculator. It is ideal for the finance professional as well as anyone taking finance classes.
The HP 10bII + Financial Calculator was designed with performance in mind. It has an above-average processing speed that will deliver results quickly, helping you save time always. There are over 170 functions in this device and it can store up to 22 numbers in its memory. It has a solid build and requires 2 CR2 batteries.
As the name implies, this is an excellent calculator for real estate practitioners. It has all the needed functions to calculate payment solutions, amortization, combo loans, and more. With it, you can easily get the figures for PITI payment, down payments and future values. It will permanently store local property tax and property insurance rates for customized calculations. It also gives you the ability to perform several ‘what-if’ calculations. The screen is wide enough and displays inputs and results clearly.
With the 3405 Real Estate Financial Calculator, all kinds of calculations related to sales and loans can be calculated with ease. There are lots of helpful functions including an inbuilt feature for expiration and closing dates. It operates on 2 LR44 batteries that can last up to 800 hours. There is also an automatic shut-off function that helps to extend battery life.
Casio is a well-known brand with lots of incredible calculators. The FC-200V is a great financial calculator that offers maximum flexibility and excellent performance. It is also an affordable option for those who want the best but are constrained by their budget. The full-dot 4-line display is another outstanding feature you will love; you will be able to view your inputs and results clearly. It is a solar-powered device with battery back-up, meaning you will be able to use it in all conditions.
In terms of functionality, the Casio FC-200V Financial Calculator has everything you need and present them in the best format. The Direct Mode Keys can be used to access exclusive modes and execute financial calculations with ease. You will be able to calculate depreciation using different methods. Cost/sell/margin, investment, appraisal, amortization, simple and compound interest calculations are all supported. With some shortcut keys, it is possible to store some important parameter values or settings applied to specific computations and recall them for use in the future. Going through the manual will help you understand better how to use the calculator, and this can improve your speed and efficiency significantly.
This is a highly versatile financial calculator for real estate professionals. It makes it extremely easy to find answers to common real estate finance and investment problems. It is well designed with large keys and easy to read adjustable, 9-digit LCD. It is sturdily built and features a slide cover that protects it against bumps and falls. Overall, it is a durable calculator.
The Qualifier Plus IIIFX DT financial calculator features advanced features that will let users quickly qualify potential homebuyers and serve clients in a fast, professional manner. It will easily compute multiple cash flows and internal rates of return, as well as net present and net future values. All kinds of advanced loan, payment, tax, insurance, and investment calculation can be completed with this device in a very short time. It works with one 3V lithium battery that can last for hundreds of hours. The automatic shut-off feature helps to preserve battery life.
7. Victor 6500
Victor Technology is known for their innovative calculators and this is one of their leading devices in terms of value. This is one of the simplest financial calculators you will find anywhere and is best suited as a loan calculator. It has a simple, clean modern design that will fit into any desk space. The extra-large LCD angled screen makes it possible for the user to clearly view inputs and processed results. It is also an incredibly affordable financial calculator.
The Victor 6500 12-Digit Desktop Financial Calculator features a loan wizard that will let you perform all kinds of loan calculations with ease: once you can provide any three variables, the calculator will automatically generate the fourth. There are automatic tax keys too that will help you tackle tax problems effectively and accurately. It also comes with 3 key independent memory that allows for addition, subtraction and totals from saved values. It is solar-powered and can also work with 2 AA batteries as backup, which means it can be used in all conditions.
Finding the right financial calculator is important for all professionals and students who need it for their everyday tasks and examinations. With so many calculators out there, choosing one can be daunting, especially when it is your first time. We have reviewed the top products in this category and this section will concentrate on how you can buy the perfect calculator that will offer the most value to you.
Factors to consider when choosing a financial calculator
Though we have found the best products for you and reviewed them, it is still very important that you understand how to pick the best financial calculator in any circumstance. Here are the factors to consider while looking for the perfect option:
Your specific need
Most financial calculators are made for professionals in specific fields and students writing professional exams. Your specific need should inform the calculator you should pick. If you are writing some examination, for instance, check to ensure that the calculator you are about to pick is approved for the exam. If, on the other hand, you are a real estate professional, there are financial calculators for the sector.
Financial calculators come with advanced functions that enable all kinds of financial calculations. Before settling for any calculator, make sure it has the functions and features that will help you perform your everyday calculations with ease.
The display is one factor some people erroneously underestimate its importance. For error-free calculations, you need to input the right data and read results clearly. A good display will let you achieve these in all conditions.
Ease of use
Financial calculators are always a little harder to use than regular calculators. It is important, however, to buy models that are easy to use. It may take you a while to learn to use some calculators but once you have learnt, things can become a lot easier.
There is always a need to buy top quality devices that will stand the test of time. Consider the build quality of whatever you want to buy, it will influence durability.
Price is another important factor to consider when you want to buy a financial calculator. There are lots of affordable options on the market but you just have to make sure that they are strong enough and offer adequate advanced functions for your calculation needs.
Frequently asked questions about financial calculators
What is the difference between financial calculators and other types of calculators?
The major difference between financial calculators and others are the functions they offer. These special calculators come with in-built features and advanced functions needed for financial calculations. They make it easier for professionals and students to perform financial calculations faster with improved accuracy and efficiency.
What are the most important advanced functions to look for in a financial calculator?
The functions you need for your everyday financial calculations are the ones you should look out for in a financial calculation. A real estate professional and an accounting student will not need the same sets of functions. Generally, such functions as tax, interest rates, depreciation, as well as simple and compound interest calculation functions are important.
Can scientific calculators be used for financial calculations?
To an extent, you can use a scientific calculator to perform financial calculations but this is not quite advisable. It will be more challenging and time-wasting. Scientific calculators are also not allowed for most financial classes and exams.
Which replacement batteries are best for financial calculators?
Most financial calculators have strong long-lasting batteries. When it is time to replace them, it is important that you find the exact battery type the device came with. Using an inferior battery can damage your calculator.
A good financial calculator will make your work a lot easier. For students, it will make taking classes and exams easier too. You have to settle down to pick the perfect calculator for your unique need. We have reviewed seven top options to consider: these are financial calculators from reputable manufacturers that have been positively reviewed by verified buyers and users. We sincerely hope this piece helps you pick the perfect product for you.