Product Description

Programmable financial calculator Comprehensive instruction manual Uses reverse polish notation (RPN)

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Product Details

• Color: Blk/Gold
• Brand: Hewlett-Packard
• Model: HP12C
• Number of items: 1
• Dimensions: .60" h x 3.10" w x 5.00" l, .0 pounds

Features

• Calculator with built-in financial functions and statistics
• Uses Reverse Polish Notation (RPN)
• More than 120 built-in functions, including register-based cash-flow analysis
• 10-character, 1-line LCD display
• Device measures 5.0 x 0.6 x 3.1 inches (WxHxD)

Amazon.com Review
If you bought yourself a financial calculator during the 1980s, chances are it was this bad boy. Nothing has changed since its introduction--it still uses Reverse Polish Notation (RPN), is easy and versatile in programming, and has a thin, sturdy casing. Certainly, there's been newer, fancier calculators introduced since, but there's something to be said for the quality of classics.

The HP 12C's functions include all the basics--such as calculating APR, NPV, and IRR--and statistics are a snap. For students new to financial calculators, this is an excellent place to start. For the most part, the manual reads like a minitextbook, walking you through sample problems and situations followed by graphs and tables demonstrating the technique--and you can even check your results. The section on creating programs does seem to be written for the technically ignorant, addressing in detail how you could possibly benefit from using programs, but it'll still help you get the job done.

In general, it's a bit slower than newer models, just like last year's computer isn't as speedy as today's new release. On the plus side, it's just 3 by 5 inches and slips easily into a pocket. The bottom is printed with a few little cheat notes for common functions, which is nice for quick reference. The HP 12C's one-year warranty and available tech-support line offer reassurance this little workhorse will continue to be an industry standard for years to come. --Jill Lightner

Pros:

• Pocket size
• Thorough and simple instruction manual
• Competitive price

Cons:

• Calculates more slowly than modern machines

What's in the Box
Calculator, user's manual, installed batteries and carrying case

From the Manufacturer
It's the calculator that more professionals rely on. What makes the HP 12C the industry standard in financial calculators? Power. It has 120 built-in functions to ensure that they are available when you need them. And with millions of users all over the world, you know it's reliable. The HP 12C is a tested performer suited for business and finance. Efficient RPN data entry reduces the number of keystrokes, and the one-line by 10-character LCD is easy to read. Memory capacity is 99 steps.

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Customer Reviews

The only one calculator you'll ever need
Why would you buy a 1980's calculator? Because it provides the best combination of form and function.

While other calculators have gone high-end and become curiosities of mathematics and graphics, HP's customers do not want to let go of the 12-C, despite the fact that HP has more powerful calculators at a slightly larger price. Here's why I think:

Just the right set of features. The average Joe using a financial calculator needs no more than the HP-12C provides.

Sturdy and strong. The keys have a wonderful feel.

Fits in a shirt pocket.

Very reliable. They've had two decades to iron out any bugs.

Large user base. Most financial courses will use this as the calculator of choice

Buy this calculator, if you need a financial calculator. You will not regret it -- I daresay that it will still be around when your kids need their own calculators.

Sturdy Workhorse
I've been using this calculator so long, over fifteen years, that I can't imagine working without it. When I bought this thing it was alone in the field of financial calculators and the 12C is still the standard by which other calculators are judged. It has become the standard "tool of the trade" for financial professional types. I have a senior position with a leading money management firm and I require all of my financial analysts to learn how to master this tool. Learning to master the functions is like taking a review course in finance. The calculator can be used for a variety of financial functions including calendar (day count), interest, cash flow, IRR, compounding, NPV, standard deviation, weighted average, simple programming and more. The calculator is nearly indestructible which can be very handy when a trade goes against you and the calculator is suddenly flying across a trading room. The calculator has a nice form factor, the buttons are easy to use, it fits in a shirt pocket, and it has an auto shut off for battery conservation.

There are other calculators available from HP such as the 10B for about a third the price and the 17B for about the same price. The 10B is inferior to the 12C and I see little reason to buy it. The 17B has greater functionality than the 12C, but I feel it is harder to master, harder to navigate, and it does not fit in a shirt pocket. However, the 17B does allow users to work in standard algebraic or RPN modes. The 12 works only in RPN (Reverse Polish Notation) which can be difficult to get used to. For example using RPN to add 1 and 2 you enter 1 2 . In simple algebraic notation the key sequence is 1 2 <= or enter key>. The difference is that with RPN you enter the operation (plus, minus, etc.) after you enter the values. With simple algebraic you enter the operation between the values.

Overall, this is the "industry standard" calculator for financial professionals and is recommended by AIMR for people taking the CFA exam. I would not recommend this calculator for casual home use as it does take some time to master, but once mastered it is a very powerful tool.

A workhorse calculator at a great price. Anyone can use it.
Calculators may seem a bit "dated" in this age of Palm Pilots and PC's, but when you have to do a lot of calculations and you don't have a spreadsheet on a laptop handy, a good calculator is invaluable.

If you calculate mortgages, compound interest, amortization or any of the common functions in finance on a regular basis, you can't go wrong with this classic calculator, long a standard of the industry. The 120 built-in functions are easy to use and well explained by the manual. Don't see a function you need? You can enter your own mathematical function, too.

If you DON'T do financial calculations regularly, but are in school for anything but science, this is also a great choice. You can even learn a lot about financial calculations just from the manual. (For science students and scientists, HP makes a scientific version calculator with statistical functions instead of financial ones.)

If you are a regular person looking for a calculator, I REALLY recommend this one--we all borrow money (car loans, house mortgages) now and then. And RPN, Reverse Polish Notation is SO logical and easy to use once you practice. (Simply put, to add two plus two = four, you enter 2 +, 2+ = and the answer is there. VERY fast for long calculations, like balancing a checkbook.)

I find that the horizontal design (wider than long) is extremely comfortable to hold. And the 12C is very rugged. I used to know a guy from HP who was a rep for the calculator division. He'd demo them by slamming the HP12C against the wall, and then daring the rep from the Big Lone Star State Instruments firm to do the same with theirs. No contest.