The 8 Best Financial Calculators
Updated by · How we research
Eight financial calculators compared on exam approval, entry style and loan and cash flow math. The TI BA II Plus Professional leads for CFA students. When users buy our independently chosen editorial selections, we may earn commissions to help fund the Wiki.
If you're studying for a finance exam, the exam picks your calculator: the CFA exam permits just two model families and turns away the rest, even ones that do the same math. This guide is for students, analysts, real estate agents and office staff who want quick answers on loans, cash flows and bonds without opening a spreadsheet.
Editor's Notes
October 27, 2026, by Ezvid Wiki Editors:
The TI BA II Plus Professional now leads this list. The CFA exam allows only the BA II Plus family and the HP 12C family, and most people shopping for one of these are studying for an exam. The TI BA II Plus stays as the cheaper route to the same approval, and the HP 12C joins as the classic RPN model, next to the HP 12C Platinum.
The HP 10bII+, HP 17bII+, Calculated Industries 3415 and Victor 6500 stay, each for a narrower job. We dropped the Casio FC-200V and the Sharp EL-738FB because neither is available new anymore. We also left out a Sharp printing calculator, since it does bookkeeping sums but no loan or cash flow math.
The evidence that mattered most was the CFA Institute's calculator policy, updated in January, and Texas Instruments' own list of what the Professional adds over the standard model. None of these brands has a calculator recall on file with the U.S. Consumer Product Safety Commission.
Earlier notes
January 17, 2021, by Brett Dvoretz:
The functions financial calculators need to perform haven't changed much in the last couple of decades and, as such, neither has the offerings on the market. The same models that have been popular for the last 10 or more years are still just as useful today as the day they were first released. Because of this, we didn't need to make a lot of changes to our recommendations. In fact, the only new addition is the Texas Instruments BA II Plus Professional. We had already included the Texas Instruments BA II Plus, but decided that it was worthwhile to also feature the Professional model for those that need slightly more advanced functionality than basic Plus model offers, such as modified internal rate of return and a couple extra methods for calculating depreciation, book value, and remaining depreciable amount.
April 9, 2019, by Brett Dvoretz:
Depending on what field your work in, or what classes you are taking, you will have different needs from your financial calculator. Real estate professionals would be best served by the Calculated Industries 3415, as it has many built-in mortgage functions, such as calculating full PITI payments, showing the difference between buying and renting, and the ability to simplify complex ARM payment schedules. Both the Texas Instruments BA II Plus and HP 12c are allowed during the Chartered Financial Analyst Exam, so if you are preparing for that, these are your best two options. With more than 250 pre-programmed functions, the HP 17BII+ might just be the most versatile model around, so if you aren't quite sure of every type of computations you will wind up doing, this can be a smart buy as more than likely, it can handle them. Those who find the traditional layout of a calculator a bit too tight for their liking may enjoy the landscape design of the HP 12c. The Sharp EL-738C, Victor Technology 6500 and Casio FC-200V are both budget-friendly models that would be suitable for students pursuing a degree in finance.
Special Honors
Casio FC-200V-2 Casio's FC-200V-2 is a four-line financial calculator with interest, amortization, cash flow, depreciation and bond functions, plus a slide-on cover. It isn't on the CFA list, and it had no current U.S. price when we checked, but Casio still sells it in many countries. casio.com
Check The Exam Rules Before You Buy
Anything else found at your desk can void your results, and the test center won't lend you one, so bring your own and a spare of the same model.
For most buyers, the exam decides. The CFA Institute calculator policy allows only the Texas Instruments BA II Plus, including the Professional, and the HP 12C, including the Platinum and the anniversary editions. Anything else found at your desk can void your results, and the test center won't lend you one, so bring your own and a spare of the same model.
The FRM exam is a little looser. FreeFellow's summary of GARP's rules adds the HP 10bII+ and HP 20b to the two CFA families. Texas Instruments lists the BA II Plus and the BA II Plus Professional as approved for the CFA, FRM and CMA exams. HP says the 17bII+ is allowed on the CFP exam. Policies change, so check the exam body's own page a few weeks before your date.
If you're choosing between the two TI models, Texas Instruments says they are nearly identical apart from a few cash flow tools (net future value, payback, discounted payback and modified internal rate of return) and modified duration for bonds. Most coursework never needs them.
RPN Or Algebraic Entry
Algebraic calculators work the way you learned in school: 5 + 3 =. The HP 12C uses Reverse Polish Notation, or RPN, where you key 5, press ENTER, key 3 and press +. There are no parentheses and no equals key, and intermediate results stay on a stack you can reuse. Fans say it saves keystrokes on long problems; newcomers usually need a few evenings of practice before it feels natural.
The original 12C is RPN only, holds 99 program steps and stores about 20 cash flows. The 12C Platinum offers both RPN and algebraic modes, adds undo and backspace keys and holds 400 program steps (The Calculator Store comparison). The HP 12C has been in production since 1981, so keystroke guides for it are everywhere.
If you've never used RPN and your exam is soon, pick an algebraic model. If you'll be working in banking or commercial real estate, where the 12C is common, learning RPN pays off.
Setup Mistakes That Cause Wrong Answers
Most wrong answers come from settings, not math. The BA II Plus family ships set to 12 payments and 12 compounding periods a year, so an annual problem gives the wrong result until you change P/Y and C/Y to 1 (300hours BA II Plus guide). Check whether payments fall at the beginning or the end of each period, because leases and annuities due use beginning mode.
Clear the time value of money registers before each new problem, or an old value can carry over. Keep the sign convention straight: money you pay out is negative and money you receive is positive, or the calculator returns an error instead of an answer.
Phone apps and free online loan calculators are fine for a quick check at home, but proctored exams don't allow them (300hours CFA calculator guide). For real estate qualifying or desk loan math, a dedicated model with labeled keys saves steps, but it won't help in a finance class.
How we researched this
We compared 13 financial and business calculators from eight brands, read the makers' feature lists and Texas Instruments' model comparison, checked the CFA, FRM and CFP calculator rules, analyzed owner feedback, and searched the U.S. Consumer Product Safety Commission's recall database for every brand.
Sources (10)
- CFA Institute: CFA calculator policy
- Texas Instruments: BA II Plus
- Texas Instruments: BA II Plus Professional
- Texas Instruments: BA II Plus vs. BA II Plus Professional
- The Calculator Store: HP 12C vs. 12C Platinum
- Wikipedia: HP-12C
- FreeFellow: FRM exam permitted calculators
- 300hours: CFA calculator guide
- 300hours: BA II Plus guide
- U.S. Consumer Product Safety Commission: recalls
Frequently asked questions
Which calculators are allowed on the CFA exam?
Only the Texas Instruments BA II Plus, including the BA II Plus Professional, and the HP 12C, including the Platinum and anniversary editions. Check the CFA Institute's policy page before your exam.
Is the BA II Plus Professional worth it over the BA II Plus?
Only if you need net future value, payback, discounted payback, modified internal rate of return or modified duration. Otherwise the two are nearly identical, and both are allowed on the CFA exam.
What is RPN, and should I learn it?
RPN, or Reverse Polish Notation, means entering numbers before the operation, with no equals key. It's worth learning if you'll use an HP 12C at work. If your exam is close, an algebraic model is the safer choice.
Is the Casio FC-200V still available?
Casio replaced it with the FC-200V-2, which is sold in many countries. When we checked, neither had a current U.S. price, and neither is allowed on the CFA exam.
Why does my calculator give a different answer than my textbook?
Usually a setting. Check payments per year, compounding periods per year and beginning or end mode, and clear the stored values before each new problem.
