Customer Reviews

HP 20b Business Consultant Financial Calculator (F2219AA)

5 star:		(4)
4 star:		(2)
3 star:		(4)
2 star:		(4)
1 star:		(5)

 

 

The HP 20b is Hewlett Packard's new lower-end financial calculator. This machine is a very welcome addition to HP's financial calculator line. This calculator certainly exceeds the functionality of Texas Instrument's offerings in the financial calculator marketplace, which should make this a big seller, particularly in colleges. Remember that this product seems primarily designed to compete with TI's offerings.

The display. The HP 20b display provides a great deal of information. Numbers are displayed with a 12 digit mantissa and up to a 3 digit exponent. The range is from -499 to +499. Annunciators are in the top right area. The top row of the screen is where results are labeled with letters. HP has made this area of the screen that labels results scroll messages, which allows for messages longer than the 9 characters that fit into this box.

Three operating modes. For the first time, HP has three operating modes on a financial calculator: RPN, Algebraic and Chain mode. RPN is a very welcome addition. It has been a long time since HP offered RPN on a fairly low priced financial calculator. Sure, it has been available on the 12c, 12cp and 17bII+ models, but has been missing from the 10b/10bII lines. LastX is there too, labeled ANS as the shift of the = key. The HP 20b also has a double-wide I key that functions as ENTER when in RPN mode. HP also provided two welcome shortcuts for RPN users. The otherwise useless parentheses keys serve as roll down and X<>Y in RPN mode. A tiny little symbol in the bottom right corner indicates the shortcut function of the ( and ) keys. RPN is not an afterthought on the 20b.

Chain mode is what HP has used on their low end machine (10bII) for some time. This mode is algebraic without hierarchy such that 1+2x3= gives a 9 as an answer. The HP 20b has Chain mode but adds Algebraic mode. In Algebraic mode, fairly normal rules of algebraic hierarchy are followed, as you would expect. Parentheses can be used to alter the order of execution. The 20b can handle up to 12 pending operations.

Menus. The HP 20b takes a new approach to providing functionality compared to many former HP calculators. It is more similar to the 17bII+ in some ways than the 12c. Pressing one of 16 keys will open up a menu where you use a combination of the INPUT key and the UP and DOWN arrow keys to move between your choices. This approach has the benefit of greatly expanding the available features without adding an additional shift key. It is also a departure from the 32s, 32sII, 33s, 35s menu approach. The approach taken by the 20b is designed to be familiar to student financial calculator users, who probably have never seen or used one of these other models. This was a very defining characteristic of the 20b's design. It seems to be aimed at students who are used to the TI model. It is not meant to be a direct replacement for an existing HP model.

Bond and date calculations. The bond calculations are a welcome addition to the low-end financial calculator and include all the expected features, including call provisions. The date calculation menu provides some nice touches, such as working in either actual or 360-day calendar mode. It also indicates the day of the week.

Extended financial features. The 20b includes several extended cash flow analysis features compared to other financial calculators. In addition to the usual NPV and IRR, the 20b provides net future value, net uniform series, payback and discounted payback.

Scientific functions on a financial model. Well, not so much new as finally returned. For the first time since the HP 19bII calculator, HP has a financial model with functions such as these: trig and inverse trig in degrees or radians, and hyperbolic functions and inverses. At last! An HP financial model again with trigonometric functions! Why is this so important? It greatly reduces the need, particularly in college, to have two calculators. As a former college instructor, I can't tell you how many times people carried two calculators - one for their physics or chemistry class, the other for their business classes...all because their business calculators did not have trigonometry and other scientific functions. It is also very important to keep the functional comparisons level with the competitors, all of whom offer these functions on their business models.

The Probability functions in the MATH menu is a real gem. It includes FOUR common probability distributions and their inverses: the normal distribution, Student's t distribution, Chi-square distribution, and the F-distribution along with their inverses. This greatly increases the usefulness of the 20b for the student as well as professional.

Statistics functions too. Combinations and permutations are back, finally and on the keyboard. Without these, users had to manually compute them using the factorial function, which is certainly doable, but very manual. The factorial function computes the gamma function if given a real number. A random number generator is present as well. The other statistics functions work on data entered into the Data menu.

The DATA menu allows you to enter up to 50 pairs of statistics data. (Note: Memory is shared between the data and cashflow areas - the 20b has 50 slots for pairs of statistical or cashflow data in total). If you try to enter the STATS menu before you've entered any data, the 20b will enter the Data menu for you.

The Statistics menu contains a Descriptive sub-menu which provides two functions not seen on HP financial calculators before: standard error of the sample X and Y means, which are very useful for things such as hypothesis tests and confidence intervals. The Predictions sub-menu first asks you to choose a regression model. Six models are included:

Linear: a*X+b Logarithmic: a*LN(X)+b Power: b*X^a
Base e exponential: b*e^(aX) Base a exponential: b*a^X Inverse: a/X+b.

A somewhat hidden function is the BEST FIT function. When the regression model is displayed, pressing = causes the 20b to quickly fit all six models to the data and choose the model with the correlation whose value is closest to the absolute value of 1. The displayed regression model will be changed to the model that provides the best fit. If the display does not change, the model shown was the best already.

Other menus and features. In addition to loan amortizations, the 20b includes several depreciation methods other than the normal straight line, declining balance and sum-of-digits: it includes declining balance crossover and French straight line and an accelerated French method. The breakeven menu performs the calculations you would expect including solving for a target profit, i.e. a non-breakeven breakeven. The %calc menu is where the markup as a % of price and as a % of cost functions are found as well as part as a % of total and % change. The % change provides a useful extension by allowing for the number of periods to be specified before computing the % change, turning this into a quick compound growth rate computation if desired.

What else is interesting? The 20b provides a function no other financial calculator has ever provided built-in. When doing interest rate conversions, you can solve for any of these three if the other two are known: Effective rate, nominal rate or periods per year. Even on the venerable 17bII+, you can't solve for the number of periods per year unless you use the equation EffectiveRate = (1 + NominalRate ÷ (P/YR)) ^ (P/YR) in the solver. If you put the 20b up against a solver solution on the 17bII+ for this problem, the 20b will win. Hands down. It's really that fast. For example, if you have a nominal rate of 10%, how many times per year must this rate be compounded before the effective annual rate is 10.51%? The answer is computed instantly: 77.85 P/YR.

So, more often than once a week, but less often than daily. Worst case result would be a value for P/YR of 999,999,999,999 periods per year (a rather outrageous result). The 20b computes results of this magnitude INSTANTLY. There really is no delay. You just can't do that on any other financial machine using a built-in function. Be aware that a computed P/YR value is stored into the P/YR setting. If a computed value is a non-integer, you will get an error in the next TVM calculation. This capability is also not present on any TI calculator.

What are some tips? You can change the number of decimal digits shown without entering the menu by pressing the shift key then pressing and holding the shift key again and pressing 0 through 9. The 20b can display up to 11 digits after the decimal point. FIX 10 and 11 settings are possible in the MODE menu but not through this shortcut. Also, entering a value of -1 for the FIX setting in the MODE menu uses the 20b's opinion for the best way to display a number. For example, with a FIX of -1 setting, the 20b would display 2.718 with three decimal digits and a result of 2 with no decimal digits. Using the shortcut described above, you can choose this FIX -1 setting by pressing . rather than 0 through 9. So you would press shift then press and hold shift and press the decimal point. Handy!

You can also view the full precision of a computed number by pressing the "back-arrow" key. This key is a true backspace key and begins deleting the rightmost digit of the full precision of a number (not the displayed, rounded value) upon the second press of the key. However, the first press of "back-arrow" has the nice effect of showing all digits of a number. To stop this "editing" of the displayed number, press ON/CE.

Conclusion. The HP 20b is another sign that HP is still actively investing in the calculator market. This is a good financial machine that addresses many wish-list items financial users have had for quite some time, as well as providing a very nice set of math and stats functions for use by everyone.

As a long time fan of HP handheld calculators,particularly, the financial calculators line, I pre-ordered and bought the HP20b as a toy once it hit the retail shelf in Singapore.

At first glance, the HP20b financial consultant strikes the potential buyer by its contemporary sleek form factor, stylish iPAQ-ish look and nice lines.

For many years, HP did not add any completely new model to its financial calculator line, and seemed to had been gone complacent as the undisputed industrial leader with its already impressive line of financial calculators.

Released in June 2008, the HP20b is a completely new model to this product line to the delight of fans of HP calculators like myself, but whether the entry of the HP20b is HP's signals to re-invest its handheld financial calculator segment still remains to be seen.

TARGETED AT ENTRY LEVEL USERS, the HP20b, now selling at S$88 Singapore dollars (US$52) a piece at retail stores, is somewhat expensive for the average student and budget conscious accountant.

WORTH THE MONEY? NO, not if one compares it with nice value for money cheap and cheerful workhorses like competition like the HP10bII+ & TI BAIIplus. A "maybe" worth it for the money if you consider that the HP20b it is feature rich and competitively priced to challenge TI's flagship financial calculator, the BAIIplus Pro.

NICE 2-LINES DISPLAY. As a mainstream entry-level financial calculator HP20b has all the features required by varsity student on a finance course. Seasoned and newbie users would be equally impressed with the generous LCD display which comes with a scrolling display which display pixel text information of the functions currently selected by the users.

POWER PROCESSOR. The HP20b is powered with a fast ARM processor-CPU which enables speedy calculations, informative multi language display which would impress first time user to this product line. Yet without a solver or programming feature built-in on the HP20b, the power of the ARM CPU will not be fully realised.

WHAT'S IN THE NAME? The 20b designation does not mean a successor to the out of production 19B lineage or better than 12c and 17BII series,this designation is simply a continuation in the line where the 19B had left off a decade ago.

NOT A SUCCESSOR TO THE HP19B. If any HP fans would think that the HP20b is a successor or upgrade of the HP19B financial consultant in terms of function and capability they would have to wait for another high end upgrade or addition to the line.

WHAT's MISSING FROM THE BOX? The usual protective slip case was notably absent in this age of cost cutting. I'd rather think HP wants the owners of new HP20b to show off their new sleek and cool HP20b.

PRODUCT SUPPORT comes with the package in the form of a thin printed environmentally friendly user manual,nevertheless, HP has one of the most excellent online user support to satisfy the demanding power user for its handheld calculator products- a more comprehensive manual should be available online in PDF format.

SOME REALLY NICE NEW FEATURES found in a completely new HP, the HP20b can be customized to display owner's name on start up with comes with RPN input as an optional function too!

SHOULD YOU BUY IT? Yes, if you think that this is the coolest looking and best entry level HP financial calculator you have seen. For new users who has not been introduced to RPN input, the RPN on the HP20b is an optional mode. If you have a choice, also consider the more sturdy higher build quality and competitively priced Texas Instrument flagship, the BAIIplusPro.

A MUST HAVE? No, because I do not see the HP20b as a contender to its distinguished cousins, particularly, the HP12c & 17BII series. For new users, best buy a HP12c, HP12cP or 17BII+ if keystroke programming is an expansion requirement.

THE RATING. A 3 STARS out of 5 overall would be realistic and fair for a neutral rating of the HP20b, even though I feel that the HP20b deserves a "4" for the nice ideas and solid effort on the part of the HP design team.

As a completely new model,however, it will take some time for the HP20b to prove its place in the HP financial calculator/consultant lineage until extensive field User Acceptance Testing or UAT has been done to iron out the bugs and quality issues.

Meanwhile, to the calculator people at HP, please keep improving and keep the new stuff coming. You can't just call and add a "consultant" label to a financial calculator because the entry HP20b still cannot be programmed to perform calculations using the Black Scholes Option Pricing Model - for discerning HP users this is inadequate.

However, for the more adventurous users, HP has made available, on its website, a DEVELOPER'S KIT "designed for developers who want to re-purpose the HP 20b and reuse the platform for other purposes". Thanks to the ARM CPU, though not as easy as to do programming on the HP12c like the keystroke programming available on the HP12c. The HP12c is still a customizable machine. [paragraph added 19.08.2008].

Thank you for reading this end user review of the HP20b.

To the prior reviews, let my add a few comments: the calculator is blazingly fast and it has a sleek, modern look. Unfortunately, the shiny black plastic attracts scratches and fingerprints, so if you buy it, it won't look nice for long.

In response to Philly Pete, I find the keyboard has plenty of feedback. While not quite as crisp as the 12C (which I've used since 1982), it's close.

By the way, if you'd rather have the 12C, look around for the new model that is just out. You can tell it from the others because it has an extra-wide battery door. The new 12C uses the same processor as the 20b, so it is equally fast, and according to a forum member [...], it's 60 times faster than the preceeding 12C model.

UPDATE: After using the calculator for a couple months, I noticed that it "forgets" the RPN setting. I set the calculator to RPN mode, and then after turning it off for an hour or more, I switch it back on and it reverts to algebraic. It's an irritating trait, so I have downgraded my rating.

To all who might think of buying this calculator...

Don't get fooled by the nice design.

There are 2 main considerations:

1 - The features
2 - How efficient to use them

If one of these is not good; the other one is useless. This calculator
has numerous functions covering a wide range; certainly sufficient. However,
the unnecessary complicated menu structure makes it hard and time consuming to work with.
Still, after some time one gets used to it and everything would be more or less OK.

But, what I really don't understand is the response of the keys. Sometimes they react;
sometimes not. So, the HP 20b is COMPLETELY USELESS if you are in a hurry (exam or negotiation).
That's because you all the time have to be worried whether the calculator responded to the input.

It is at least from my perspective unbelievable how such a product can be put on the market.
Obviously, no one from HP actually worked with this thing...

So, if you decide which calculator you are going to buy: DONT BUY THIS ONE!
A final note: In order to save time and money and not to go through the same frustration as i did,
go to a store and "play" with some of the potential candidates. After that, buy at AMAZON and be happy.

I bought the HP20b because it can be used as a development system for the microprocessor that's inside. HP supports such hacking by making the complete details of the calculator available on it's technical web sites. See the November 2009 issue of Circuit Cellar magazine for the details. While it's an excellent calculator in the functions it offers it's lacking in the quality of the keyboard. I've own many HP calculators and this has the worst keyboard. The tactical feedback is poor, unlike all the other HP calculators I own. This forces you to look at the display when entering numbers. Otherwise you might not make correct entries. Very annoying way to use the calculator. I would rather pay a bit more and get the traditional HP good tactical feedback keyboard. Other than the keyboard the calculator is good. Display is easy to read and of sufficient size.

The included slip case is not well padded and would offer little protection when it's dropped. Manual is so-so. Typical paperback that's hard to keep open. What ever happened to the spiral bound manuals that would stay open? I know let's make it a little cheaper. No little cheat sheet includes with this calculator. Clearly a product designed to meet a low price point.

I have used HP financial calculators for many years and own four. Other than the presence of RPN, there is nothing recognizable about an HP product in this calculator.

The mix of functions appealed to me because it took some of the most frequently needed functions and put it under one hood. However, from there everything else that you would expect to find in an HP financial product is simply not there.

Cheap...the unit is not up to HP standards in material quality.

The keyboard keys are not solid and have a sticking feeling of a $4 pocket calculator.

The display is small and there are too many tiny symbols and a scrolling message that is unimpressive and not necessary.

Non-intuitive...everything takes far too many keystrokes to get to the answer you are looking for. The overall logic is not consistent with any other HP financial calculator I've used. I had to re-learn everything I thought would be present in this unit.

The user's manual is a quick guide and refers you to a website if you need additional explanations. This is the only HP product that does not come with a cover of any kind.

Better to buy an HP 10bII or a 12c if you want a real HP financial calculator. This is a waste of money and HP should be ashamed to put their name on it.

The calculator has all financial functions and most of the scientific features making it the one calculator to carry. Not for heavy engineering though.
It feels a little cheap when compare to my hp32S calculators. The manual needs an update; it does not match with what shown on the screen in some cases.

A good all around calculator to have handly at the desk.
The manual shipped with the HP20b was barely adequate; the on-line / downloadable *.pdf was a little better.
Learning to use some features requires a good memory of how the calculator works.
Not having a slip case / cover does not bother me; I would never use it; I always have calculator out on my desk.
I do miss the useful feature of entering fractions by pressing the decimal key a second time for the denominator.
I leave my HP20b in the RPN mode all the time, and it doesn't "forget" the RPN setting as someone noted, as long as one doesn't press "reset -> all"

Excellent calculator. But seriously, no cover for this? I find this unacceptable. If HP can afford a severance package for Mark Hurd, surely it can find a way to provide covers for this calculator? I mean, Mark Hurd won't return to HP, but I could for it's calculators. So who's more important?

This product does it all. t's more powerful than I need. One criticism: all the examples are done in RPN.