Advice About Amortization Calculator - Posted by Nancy(NC)

Posted by Nancy(NC) on May 18, 2006 at 17:53:20:


Thanks for the information. I didn’t realize those phones could do so much. I will check into one.


Advice About Amortization Calculator - Posted by Nancy(NC)

Posted by Nancy(NC) on May 17, 2006 at 08:53:40:


I had an amortization calculator that I got when they first came out and the batteries finally died and I cannot find that size now.

Can someone advise me on a pocket sized calculator that does amortizations that I can buy? I don’t care about cash flow and the other bells and whistles - just want to plug in sales price, interest rate, term and get monthly payment or or payment, interest rate, term and get price.


Re: Advice About Amortization Calculator - Posted by Gerald

Posted by Gerald on May 17, 2006 at 13:49:31:

I’ve lived & died by my HP 10B since 1990. Don’t think you can buy them in the store any longer, but I did see several on ebay for $10.

HP 12c - Posted by Eric (MI)

Posted by Eric (MI) on May 17, 2006 at 13:49:28:

I have never found anything better than the tried, true and trusty HP 12c.

Re: Advice About Amortization Calculator - Posted by Reymond

Posted by Reymond on May 17, 2006 at 12:53:41:

Hey, I got a few spreadsheet that you can use with different loan pgormas, such as int only, fixed, option arm, let me know, I can email them to you

Re: Advice About Amortization Calculator - Posted by Max-Va

Posted by Max-Va on May 17, 2006 at 12:03:19:

I swear by my HP-12C I tried the new platimum model but the original is simpler and works great for anything in R/E and notes

Amortization Calculator - Also try for FREE - Posted by Terry Vaughan

Posted by Terry Vaughan on May 17, 2006 at 11:50:26:

Try this link if you want a printout of the amortization schedule:

Re: Advice About Amortization Calculator - Posted by Nancy(NC)

Posted by Nancy(NC) on May 17, 2006 at 10:43:27:

Thanks for the suggestions. I will check these out. I want one I can carry with me and use when I don’t have a computer available. I have used the one on this site when I’m online.


Re: Advice About Amortization Calculator - Posted by Terry

Posted by Terry on May 17, 2006 at 10:19:22:

For a quick solution,use the FREE loan calculator the Vaughns supplied at the link above this post.


Re: Advice About Amortization Calculator - Posted by John Corey

Posted by John Corey on May 17, 2006 at 09:40:23:

The ‘gold’ standard for the industry is the HP 12c. It is also one of the first financial calculators (25 years ago it was launched).

Lonnie recommends it in his book.

There is one or more TI models plus other HP models.

Office Depot and other office supply places have the different models and the batteries.

John Corey

Re: Advice About Amortization Calculator - Posted by pboone

Posted by pboone on May 17, 2006 at 09:09:21:

I use the hp10B for those calculations mentioned, and buy batteries @ radio shack

Re: HP 12c - Posted by Innovator

Posted by Innovator on May 18, 2006 at 04:29:45:

I agree, if you want the best. The HP-12c can be purchased at any Office Max or Depot for under $100 and when the batteries die you can replace them for under a buck. It has all the bells and whistles (internal rate of return, compounding using begining balance and ending balance and lots more). I paid about $70 for mine ten years ago. I have four of them (one for my office, one at home, one in my car and one in my brief case). I call it my brain and I don’t like being anywhere without one!

Pocket PC versions - Posted by John Behle

Posted by John Behle on May 17, 2006 at 15:21:41:

Before dropping $50-100 on a calculator, consider a pocket PC.

I love carrying one item. A cell phone with a Pocket PC built in gives me: Cell phone, camera, calculator, word processor, spreadsheet, games for kids, movies, DVD, internet, etc.

My phone is smaller than my HP12C, yet has all those features and several financial calculators. One in particular perfectly emulates the 12C and looks identical. Yet, the speed, etc. is many times faster.

I particularly like the “Ominsolve” software that is like a turbocharged HP12C on steroids. I also have built in spreadsheets for Excel that no financial calculator can duplicate. If I have a very complicated note or cash flow situation, I usually turn to them.

There are even programs like “ORB” that allow you to watch videos or listen to the music on your home or business PC over the internet. So, if I am bored at a doctor’s office, I can watch a video I have downloaded to the phone or watch streaming video - even real estate tapes - from my home PC.

And instead of being so bored at the convention that I wanted to run from the room screaming, I was able to pick up some items I wanted on internet auctions, etc. and play a few games of Monopoly.

The Pocket PC’s don’t cost much more than a regular cell phone and can be as cheap or cheaper than a new calculator. Some of the older models (but less than a couple years) can be picked up cheaply at e-bay like the Samsung I700. Newer models like the I730 have the built in wireless, bluetooth, etc.

Another option if you don’t want to combine a cell phone and Pocket PC is the older HP palmtop computers. They are not a whole lot bigger than a calculator, yet can be purchased used cheaper than a new HP12C. They have all the financial calculator software built in, but also have Windows CE software that can do many of the things I mentioned above. Their versions run from the HP99LC up to the HP720. You can find some of the models for less than $50, but have incredible capabilities. They include the “Ominsolve” software I mentioned above. That software makes it very much like an HP17b or HP19b which are the more advanced yet simpler versions of the HP12C. While the HP12C has been the standard of the industry, it is quite a challenge and time consuming for most people to learn. Some of the Pocket PC software is much, much easier and simpler yet with as much or greater capabilities.

If the idea of a stand alone calculator still seems like the way to go, consider a used HP17 or HP19 instead of the HP12C. They are so much simpler and can handle more cash flows quicker, do better amortizations - easier - and have a larger screen. For the price of a new HP12C you can get one of the above used or for just a little more than a used 12C.