Bests & Worsts Reviews from Amazon

I own both the HP 12C "Platinum" edition, and the 10bII+. The 12C is basically the most well-known financial calculator, having been around for a long time in the finance field. The "platinum" edition boasts a faster processor and the ability to do some equations that the older 12C model cannot. That said, I much prefer the 10bII+ calculator to the 12C for the following reasons. FIRST, A VERY IMPORTANT NOTE: WHEN YOU RECEIVE YOUR HP 10BII+, YOU MUST SET THE [P/YR] KEY (PERIODS PER YEAR) TO THE PROPER SETTING! OTHERWISE, ALL OF YOUR CALCULATIONS WILL BE INCORRECT AND WILL CAUSE MASSIVE FRUSTRATION! To do this, first, press [SHIFT RED], then, press and hold [C ALL]. The current setting for period(s) per year will flash on the screen. For most calculations, you need to set it to 1 period per year, as any necessary adjustments (for example, monthly compounding), can simply be entered as an additional equation entry on a per-calculation basis (example shown below). Press [SHIFT RED], then, press [P/YR]. Ignore the "error" message. Press "1," then, press [SHIFT RED] and [P/YR] again. You have now set the period per year at 1. To check, press [SHIFT RED] and press and hold [C ALL]; it should display "1 P YR" on the screen. 1) Key layout The key layout for the 10bii+ makes a lot more sense than that on the 12C. For example, on the 12C, CFj and Nj are located on separate keys; on the 10bii+, they are located on the same key. This makes cash flow calculations a lot easier. The 12C uses the difficult to identify [CHS] (change symbol) key to enter a negative number as an initial investment (outflow), while the 10bii+ has a [+/-] key for the same function; the latter makes much more sense to me. 2) Greater Precision for Calculations When solving for time [n] (Example: How long will it take $5,000 to grow to $10,000, assuming a 5% annual interest rate? Answer = 14.2067 years), the 12C rounds the answer up, to 15, while the 10bII+ gives you the exact answer, to four decimal places. The lack of a precise numerical answer from the 12C is very disappointing. 3) Intuitiveness Here's the big difference-maker to me between the 12C and the 10bII+ -- although most of the steps for calculation entry for the 12C and the 10bII+ are roughly the same (allowing for their respective differing key layouts), I think that, for certain equations, the calculation steps for the 10bII+ are more intuitive and easier to remember than the 12 C. Here's an example: Calculate the future value of $1,000 invested for 5 years at an annual interest rate of 6%, compounded monthly. 12C Keystrokes --------------- 1000 [CHS][PV] 0 [PMT] 6 [ENTER] 12 [÷][i] 5 [ENTER] 12 [x][n] [FV] =1,348.8502 10bII+ Keystrokes ------------------ 1000[+/-][PV] 0 [PMT] 6 [÷] 12 [I/YR] 5 [x] 12 [N] [FV] =1,348.8502 Okay, so, this may seem like a minor difference between the two calculators, having different entries for steps 3 and 4 (entry of interest rate and time period), but, I think that the way that the 10bII+ allows you to enter the time period and interest rate in a situation where you have to do monthly (or other time period) compounding is much more intuitive and much easier to remember than that on the 12C. 4) Price difference The 12C costs $55 ($66 for the platinum edition), while the 10bII+ costs $25. In closing, whatever financial calculator you buy, make sure to pick up a copy of Kaplan Schweser's book "Understanding Your Financial Calculator;" it contains hundreds of step-by-step instructions for solving a slew of financial equations, with specific keystrokes for the 12C, the 10bII+, and other commonly-used financial calculators. Without this book, unless you're a seasoned professional who has been using financial calculators for a long time, you won't be able to use the calculator to its full potential. Runs on 2 CR2032 batteries, which are included, along with a vinyl carrying case.