Unlike the calculators that come with your phone, a financial calculator is a highly functional calculator that can be used to solve complex problems. They are equipped with keys and various additions that help you break down intricate mathematical problems. These are mostly used to calculate payments and debts, find out the interest rate, and resolve problems with loans. Since some of these calculations take many steps and breakdowns, these help to speed up the process.
Most financial calculators serve the same purpose, some might have more superior functions as seen on this link https://bestcalculators.net/best-financial-calculator-reviews/. But the majority of the devices in the market can all serve the same purpose. There are certain functions like “N”, which is the number of periods, “I”, periodic interest rate, “FV”, Future value, “IRR”, internal rate of return and many more. All of these need to be first fed with initial data which can be then used as a base for all calculations.
3 things to consider before you buy one.
Based on your needs, you will be able to find one that fits best for you. Most financial calculators can do all basic functions, but if you are looking to do more complex problems, then you will need more features on them. The affordable models like HP1-BII or TI-BAII are basic ones that work ideally for financial management certification exams. If you are taking a deep dive into financial management or work as a professional, you will need to invest in a higher model for fast use. The models like TI-83-Plus and TI-82-Plus come with graphic functions, so buy them only if you are going to use the feature. What’s best for you can be seen on this link: bestcalculators.net/best-financial-calculator-reviews/. https://
If you looking to invest in a calculator just for an upcoming exam, it would make sense to just invest in a basic model. Plan your return on investment on these devices before you buy them. Buying a financial calculator is like investing in a laptop.
3. Exam Acceptance
If you are getting one just for an exam, make sure you read the exam forms before you buy one. Some calculators with complex functions are not allowed inside exam centers. The authorities are very particular about restrictions on calculators that can save formulas and text information.