HP 12C Financial Calculator

-Pros: About 120 pre-programmed computations; Long battery life; Great at mortgage payment calculations; Versatile and simple with powerful commonly used functions.
-Cons: RPN logic will not be to everyone's liking (outdated); Excel can do a whole lot more than this does
-The Bottom Line: This calculator performs a good number of financial functions.

This calculator remains a classical through decades.

This calculator is a handheld device. However, the keys are arranged opposite of most calculators. There are ten keys going across and four keys going up and down. The liquid crystal display holds up to ten characters. HP arranges the keys on this calculator with the numbered keys and operations (add, subtract, multiply, and divide) on the right side and the financial keys (PV, PMT, n, FV, etc) to the left, with the “enter” key located in the center, at the bottom.

With the HP 12c, you can compute all sorts of financial computations, like loan amortizations, net present value, internal rate of return, time value of money, cash flow analysis, bond pricing, bond yield to maturity, standard deviation, compound interest, etc. The keys are similar to other financial calculators, but the functions are more numerous.

This calculator is that it’s good and it will perform the necessary functions for students of finance and for financial professionals. It isn’t the best on the market, and not even the best offered by Hewlett-Packard. But it is pretty good nonetheless, and it will prove to be satisfactory to most people who use it.

If you have 3 of the four necessary variables, you can solve for the fourth and answer such questions as:

*How much is my payment for this value mortgage, this length and this interest rate?
*How much of a loan can I get based on this payment, this interest rate and this length of mortgage?
*How much will this investment be worth in future dollars for these periods and this interest rate?

This calculator is powered by 3 LR44 batteries. If you buy this calculator new, it comes complete with a set of batteries and they last a good long time. I haven’t needed to replace mine in over two years of limited use.

Rubber grips on the bottom of the calculator help prevent it from sliding around on your desk as you input numbers, which is a nice addition to the physical qualities of this device. The size makes it easy to fit into your shirt pocket, but I don’t prefer the reverse direction of the keys.

It is widely used in business even now, although more so 20 years ago.

There is great attention to detail, not only in the keys, but also in the gold stamped mini-instructions on the back, which have not worn one bit, to the rubber feet on the bottom that prevent the unit from slipping when the user inputs.

The HP Calculator Museum reports that there is a calculator out there that is still functioning on the original set of batteries after 22 years. That site also reports that this unit is HPs longest and best selling calculator and speculates that it is because of its robust ability to handle financial functions and conservative business tradition.

Would I buy it new, now? Probably not. Excel on a good desktop or laptop can do everything on this calculator and a whole lot more.

Large easy to read display. Large easy to read entry keys. Excellent layout keeping data entry keys spaced well apart v. other calculators that may have keys jammed to close together. This model "Platinum" came with excellent documentation "User's Guide" which was sold out on HP web site and not available in local stores at the time I purchased. Protective HP case included along with Software disc allowing for installation of calculator on any Personal Computer. EBAY price beat store prices at the time of purchase. 130+ built-in functions with RPN and algebraic entry, memory for 80 cash flows. Keystroke programming (memory for 400 steps).If you have large fingers and less then perfect vision this Financial Calculator is good selection.

I bought it because I can use it for the Certified Financial Planner exam; there are several other national certification exams that it can be used for, and of course it is also acceptable in certain college and graduate school business related courses. It is an excellent calculator. I worked my last one to death (but that was over 15 years ago, and I tend to drop it regularly). Buyers should be aware that there are several different models out now and ebay sellers are not always careful with their listings. The different models are NOT all the same. There are the vintage calculators, there are newer models of the vintage one, and then there are a Anniversary Edition, a 25th Anniversary Edition and the Platinum edition. Some of the newer ones have more functions and use a faster chip than others. They sell for more at retail. Research which ne you want before you buy, and don't assume that the picture in the listing is the model you are buying unless the seller has included an actual photo. There are a lot of folks out there using a stock image of a newer faster calculator to sell the older ones and I have found that some of the sellers don't know the difference.
Overall, the HP12c is a great piece of equipment, and I learned to love RPN while using my old one. I still have to stop and think when using a regular calculator, because I retrained my brain to rpn. For those of yu who don't know what RPN is, it stands for Reverse Polish Notation, and it works more like an adding machine than a calculator. You can do a search on RPN and you'll get lots of info.

Perhaps that this calculator does not have all the functions you can find on some more powerfull and recent calculators belonging to the HP business calculator family (14B, 17B, 17BII, 19B and 19BII) but how to resist to the only remaining model belonging to the famous and elegant 'Voyager' serie? 10C, 11C, 15C and 16C are gone forever and it is very difficult today to find one in excellent condition. With the 12C, you will find all the elementary business functions you need.

You can find this model new in 3 different versions:
- The standard version with gold metal display bezel,
- the platinum edition, much faster, with platinum like metal keyboard and display bezel,
- the 25th anniversary version (only available in 2006, hurry up!!!) which share the keyboard of the standard version and the platinum like metal display bezel of the platinum version with a 25th anniversary logo.

You can also find this model used:
- A recent one,
- One from the 80's: It is becoming a collector, try to find an USA made model.

The HP 12C is a great tool for people in the financial industry. Calculates things like mortgage payments, future value of an investment, Net present Value, compound interest. The 25th Anniversary Edition is much faster than previous versions. One caveat though is that the keystrokes needed to get the results you want are not the same as your run-of-the-mill calculator. This translates to a steep learning curve (the users manual is over 250 pages long). So if you want to do basic math then stay away from this as it will drive you crazy.