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Guide to Financial Calculators

The basic models of calculators simply fall way too short when compared to financial calculators and all of their beneficial properties. Getting a financial calculator as an addition to your business is an extremely smart move and truly a great investment. The main difference between a basic calculator and a financial one is the fact that the latter features various keys with which one can calculate tax rates, interest rates, loans and commerce related calculations. The devices have naturally found their way into the classrooms and are very useful to students due to their ability to handle statistics. In certain instances, a mathematics class would be even impossible to take place without using a financial calculator.

At the very beginning, one may find it confusing to deal with all of the different keys a financial calculator comprises, however, by knowing what the abbreviations mean, the user can get a clearer picture of how to properly use this device:

  • FV – Potential Future Value
  • I – Interest and Return
  • N – Number of Payments
  • PV – Present Value
  • PMT – Payment

Texas Instrument FInancial CalculatorOther Important Things to Note

  • Financial calculators allow the option of handling two or more calculations at the same time.
  • Most of them are able to handle ten digit calculations (that’s in fact the minimum).
  • In order to attain protection, a calculator must comprise a hard case that will protect it from damage, especially if the user of the calculator is always on the go.
  • An instruction booklet is a must for these devices, since a novice user won’t be able to grasp all of the functions without it.

The instructions given in the manual are not to be ignored, they are in fact crucial for the completely proper usage of this helpful device. You should learn how to make use of the various shortcuts so that you can save time. Don’t simply leave the factory unit setting as they are. Do your best to set them as it will be most useful for you. The calculator should be handled with care since these devices are quite fragile.

Finally, we are all aware that the world is full of confusing calculations and these little, sturdy devices seem to know it and comprise everything we need to tackle those daily tasks that include numbers. There is a wide range of brands to be found in stores and online, just make sure that it features all of the above mentioned necessities before making your purchase, and you’ll be all set to ease your world of calculations.