I am often asked which business/financial calculator I personally use for my day-to-day calculation needs. After using business and financial calculators for the past fifteen years, I have found that the Hewlett Packard 10B Business calculator is the obvious choice among many far-inferior competitors.
The HP 10B Business calculator functions more as a financial calculator than anything else. Its easy of access to Present and Future Value calculations allows the user to check these values under a variety of conditions. At the top row of the calculator, the Time Value of Money buttons allow the user to change any part of the equation without re-entering all the data over and over. For example, suppose the user wants to check the Future Value of a $1,000 investment over 10 years at 5%. The following sequence is punched in:
N = 10
I/YR = 5
PV = -1,000
PMT = 0
Then, when the FV button is pressed, the result shows the correct Future Value of $1628.89. If the user wants to see the effects of a 7% return, only the interest rate, not all the information, needs to be changed. This feature alone makes the calculator one of the most useful when figuring investments under varying conditions.
The feature to choose whether the investment occurred at the beginning or end of the first year is as easy as switching modes from “end” to “beg.” To avoid confusion, the mode will display “BEGIN” on the screen so the user knows the current timing assumption.
The rest of the HP 10B’s features include a full array of statistical functions such as regression and forecasting, net present value, margin/mark-up, percent change, and basic math functions such as exponents, square root, reciprocals, and natural logarithms. In all, the main features of the calculator make for a fully-functioning companion to investors and business professionals.