A financial calculator is a useful tool that is designed to assist you in the calculation of a number of different equations. It is generally easy to use and does not require a high level of programming knowledge. Many models also include graphing capabilities, which can be useful in a variety of economics and finance subjects. A good example of this type of calculator is an HP financial calculator, which is useful for a variety of industries and is commonly used in college finance and accounting courses.
The first thing that you must do when using a financial calculator is clear all previous work. To do this, press the Gold key and then the C key. This will clear all the previous work and help you enter the data in the correct way. You can then enter the relevant numbers into the calculator and make adjustments.
One of the most common functions of a financial calculator is mapping out the time value of money. Once you understand this function, you can learn how to program the calculator to perform other useful tasks. This can be useful when you are deciding on a loan or when you are mapping out your budget over time.
Another feature of a financial calculator is its ability to perform mathematical equations that a standard calculator cannot handle. Some models include stand-alone keys that allow them to perform more direct calculations. Some examples of such functions are interest rates, cash flow, and simple and compound interest. Moreover, you can even program the calculator to perform specific functions according to your requirements.