These are electronic calculators that are geared towards solving finance problems. Getting the right financial calculator can help solve long and complex complications that arise from finance-related questions.
Good financial calculators should be able to handle:
• Cash flow analysis
• Internal rates of returns
• Loan formulas
• Net present value
• Markup calculations
• Amortization schedules
• Regression calculations
• Tax calculations
• Interest rates calculations
Features of an excellent financial calculator
Versatility; should be able to handle most financial calculations.
Performance; long-lasting battery and computing speed.
Functionality; it should be practical, portable, etc.
Types of financial calculators
A) Online calculators
https://www.ignitespot.com/financial-calculators
College calculators; net price calculator, FAFSA4Caster, financial aid calculator, financial aid estimator.
Tax calculators; tax calculator, 1040 tax calculator, 1040 tax estimator, withholding calculator.
Savings calculators; savings calculator, savings estimator, savings, and planning calculator.
Investments calculator; investments calculator, investing calculator, the AIE savings calculator, calculate the value of your paper savings bond.
CARS calculator; auto loan calculator, can loan calculator, payment estimator.
Home costs/mortgages; mortgage calculator, mortgage payment calculator, mortgage calculator, what will your mortgage payment be, how much are my payments.
Retirement calculator; retirement savings calculator, PNC retirement calculator, how much should I save, etc.
Kids calculator; savings calculator, kids’ club savings calculator, kids savings calculator, kids’ calculator.
B) Personal calculators
Sharp QS-2130; suitable for business applications.
Texas Instruments BA II plus; perfect for finance students.
HP 12C platinum; the leading choice for financial professionals.
HP 10bII+; for business and finance students.
Casio FC-200V; one of the best budget calculator available.
https://bestcalculators.net/best-financial-calculator-reviews/
Benefits of a financial calculator
• Allows for calculation of time value of money problems.
• Allows for calculation of basic statistics i.e., linear regressions and correlations.
• Saves time that could be wasted on working through complex financial problems.
• A financial calculator increases accuracy.
Conclusion
Financial calculators help in solving a lot of complicated financial problems for a wide variety of users. There are different types of financial calculators out there that are designed to handle various financial problems.