How to Work a Financial Calculator

culled from:wikihow.com

Method 1 of 2: Hand-Held Financial Calculators

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   Identify the proper function keys on the calculator. You will often need to execute advanced applications on hand-held financial calculators using the 2 shift keys.
   • F shift key: This activates the gold alternate functions that appear over the standard-function keys. Some of the important f keys include AMORT (amortization) and NPV (net present value).
   • G shift key: This key activate the blue alternate function keys that appear slanted on the standard keys. Some of the important g keys are 12x, which you use to adjust an annual interest rate, and END, which you would use for payments set to end at a specific period.
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      Input programs into the calculator. If you use certain formulas often, you can store them in the calculator by selecting the f shift key and then pressing P/R. Most hand-held calculators will allow you to save several programs.
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      Determine the financial calculation you want to perform. Top hand-held financial calculators can perform basic mathematical equations or complex financial computations, like partial-year depreciation and full investment analysis. For example, to find the percentage your stock lost when it fell from $61.25 per share to $57.50, you would in follow these steps:
      • Type in 61.25 and hit ENTER. ENTER separates the base number from the second number.
      • Type in 57.5.
      • Press the percentage key.
      • The calculation renders a 6.122 percent loss.
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      Consult the calculator's user guide for instructions on specific calculations. For example, the basic keystrokes you would use to calculate simple interest on a $500 loan for 120 days with a 5 percent interest rate are:
      • Type in 120n, where n stores the value for the term of the loan.
      • Type in 5i, where i stores the value for the interest rate, which in this example is 5 percent.
      • Enter 500 CHS PV, which stores the principle.
      • Press f INT to calculate the accrued interest. In this example, it is $8.33.
      • Press + to calculate the total amount owed (principle plus accrued interest). The total is $508.33.
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      Input data properly. Regardless of the complexity of the equation, you must enter data in the correct sequence to render accurate results. Be aware that calculator set-ups can vary slightly from 1 model to the next.

   Method 2 of 2: Online Financial Calculators

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   Choose a calculator that meets your specific needs. Online calculators are plentiful and generally simpler to use than portable devices. There are online calculators that cover virtually all financial applications, including:
   • Mortgage: loan payments, APRs, and amortization schedules
   • Retirement: IRA conversions, Social Security benefits, and pension payouts
   • Personal finance: costs of child rearing, budgeting, or saving for a child's college education
   • Insurance: term insurance and annuities
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   Enter the values as indicated on the calculator form.
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   Hit the calculate button to generate the result.