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Which Calculator? |
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Which Calculator? |
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| HP-12C:
If you have an HP-12C, and know how to use
it, great. This is the calculator that NAR (National Association of Realtors®)
standardized on for the CCIM (commercial) courses some time ago. Then they
changed to the HP-19, a fancy, expensive, menu driven machine. About
3 years ago, NAR switched to the HP-10B for their CCIM courses.
The 12C uses Reverse Polish Notation (RPN), and for the novice, it takes a while to adapt to this language. There is no = key. (To add 6 and 2, the keystrokes are: 6, Enter, 2, +) The calculator does most financial functions a real estate licensee wants, plus a few others. It has a calendar, where you can determine future and previous dates, as well as calculate the number of days between dates. The 12C is programmable, in that if there are some functions of the calculator, with repeated steps, that you use very often, you can program the calculator to perform the functions with just 1 keystroke. It also has built-in accelerated depreciation schedule keys, and keys for bond calculations. I have written and instructed an 8 hour seminar on the HP-12C (and its predecessors, the HP-38 E & C) for many years, and find that most licensees do not use the functions listed in the preceding paragraph, starting with programing. This calculator lists for about $70. Note: Some real estate companies
in Albuquerque want their agents to use the HP-12C.
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HP-10B:
This is the new standard for the CCIM courses
of NAR. It does not have a calendar, bond calculations, accelerated
depreciation functions built-in, or programing
The HP-10B uses algebraic logic, meaning it has an equal key, and when you perform an addition, subtraction, multiplication or division function, you do it in the same manner as most of us think. (To add 6 and 2, the keystrokes are: 6, +, 2, =) The 10B has all the financial functions that the 12C does, but it's faster, especially when calculating interest, yields on discounted mortgages and contracts, and IRR on even and uneven cash flows. Cash flow analysis is easier, also. The real winners in the 'difference' between these calculators (12C and 10B) are 1: Price, and 2: Amortization Calculations. With the financial keys properly 'loaded,' and just a couple keystrokes, you can calculate the P&I break-down of any payment, or series of payments, and the balance after that (those) payment(s). And you can amortize an earlier payment without restarting. The Real Estate Math course at New Mexico Real Estate Institute, and the math section of the GRI courses are written for both the 10B and the 12C. For the new financial calculator user the 10B is a winner. And many 12C users have become converts. This calculator is available
for $35 from:
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