Sharp EL-738F Financial Calculator
The ultimate professional-grade financial calculator for complex calculations including TVM, cash flows, amortization, and statistical analysis.
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Complete Guide to the Sharp EL-738F Financial Calculator
The Sharp EL-738F is a professional-grade financial calculator designed for business professionals, students, and anyone who needs to perform complex financial calculations. This comprehensive guide will walk you through all the features, functions, and practical applications of this powerful calculator.
Key Features of the Sharp EL-738F
- Time Value of Money (TVM) Calculations: Solve for any variable in TVM problems including N, I%, PV, PMT, and FV
- Cash Flow Analysis: Calculate Net Present Value (NPV) and Internal Rate of Return (IRR) for up to 24 uneven cash flows
- Amortization Schedules: Generate complete amortization tables for loans and mortgages
- Statistical Functions: Perform single-variable and two-variable statistics with regression analysis
- Cost-Sell-Margin Calculations: Essential for business and retail applications
- Depreciation Methods: Includes straight-line, declining balance, and sum-of-years digits
- Bond Calculations: Compute bond prices and yields
- Break-Even Analysis: Calculate break-even points for business decisions
- Memory Functions: 10 memory registers for storing intermediate results
- Dual Power: Solar and battery backup for reliable operation
How to Use the Sharp EL-738F for Time Value of Money Calculations
The Time Value of Money (TVM) functions are among the most powerful features of the Sharp EL-738F. Here’s how to use them:
- Set the calculation mode: Press [2nd][CLR TVM] to clear previous TVM calculations
- Enter known values: Input the values you know (N, I%, PV, PMT, or FV)
- Set payment timing: Press [2nd][P/Y] to set payments at beginning or end of period
- Set compounding periods: Press [2nd][P/Y] again to set compounding periods per year
- Calculate the unknown: Press the key for the variable you want to solve (N, I%, PV, PMT, or FV)
For example, to calculate the monthly payment on a $200,000 mortgage at 4.5% annual interest for 30 years:
- Clear TVM: [2nd][CLR TVM]
- Enter N: 30 [2nd][xP/Y] (converts years to months) = 360 [N]
- Enter I%: 4.5 [÷] 12 [=] (monthly rate) = 0.375 [I%] (or just enter 4.5 and set P/Y=12)
- Enter PV: 200000 [+/-][PV]
- Calculate PMT: [PMT] → Result: -1,013.37
Cash Flow Analysis with the Sharp EL-738F
The cash flow functions allow you to analyze uneven cash flows, which is essential for evaluating investment opportunities. Here’s how to perform NPV and IRR calculations:
- Clear cash flow memory: [2nd][CLR WORK]
- Enter initial investment: 10000 [+/-][CF]
- Enter cash flows: 3000 [CF], 4200 [CF], 3800 [CF], 5200 [CF]
- For NPV: Enter discount rate (e.g., 10 [I%]), then press [NPV]
- For IRR: Press [IRR]
Amortization Schedule Generation
The amortization functions help you create payment schedules for loans and mortgages. To generate an amortization schedule:
- Enter loan amount: 250000 [PV]
- Enter interest rate: 4.5 [I%] (annual)
- Enter term: 30 [2nd][xP/Y] = 360 [N]
- Calculate payment: [PMT] → -1,266.71
- View amortization: [2nd][AMORT] to see principal/interest breakdown
Statistical Functions
The Sharp EL-738F offers comprehensive statistical capabilities:
| Function | Description | Example Calculation |
|---|---|---|
| Mean (x̄) | Arithmetic average of data points | For data 12,15,18,22,25,30: x̄ = 20.33 |
| Standard Deviation (s) | Measure of data dispersion | For same data: s ≈ 6.44 |
| Linear Regression | Fits a line to x,y data points | Can calculate slope (a) and intercept (b) |
| Correlation Coefficient | Measures strength of linear relationship | Range from -1 to 1 |
Advanced Business Functions
The EL-738F includes several business-specific functions:
- Cost-Sell-Margin: Calculate any variable when you know two of cost, selling price, or margin
- Break-Even Analysis: Determine the point where total costs equal total revenue
- Depreciation: Calculate straight-line, declining balance, and sum-of-years digits depreciation
- Bond Calculations: Compute bond prices and yields to maturity
- Days Between Dates: Calculate the number of days between two dates
- Date Calculations: Add or subtract days from a date
Comparison with Other Financial Calculators
| Feature | Sharp EL-738F | HP 12C | Texas Instruments BA II Plus |
|---|---|---|---|
| TVM Calculations | ✓ | ✓ | ✓ |
| Cash Flow Analysis (NPV/IRR) | 24 cash flows | 20 cash flows | 24 cash flows |
| Amortization | ✓ | ✓ | ✓ |
| Statistical Functions | Comprehensive | Basic | Basic |
| Cost-Sell-Margin | ✓ | ✓ | ✓ |
| Depreciation Methods | 3 methods | Limited | 2 methods |
| Bond Calculations | ✓ | ✓ | ✓ |
| Memory Registers | 10 | 8 | 10 |
| Display | 2-line LCD | 1-line LCD | 1-line LCD |
| Price Range | $30-$50 | $50-$70 | $30-$45 |
Tips for Getting the Most from Your Sharp EL-738F
- Master the TVM keys: Understanding how to input N, I%, PV, PMT, and FV will solve 80% of financial problems
- Use the grand total key: [GT] accumulates a running total of all calculations
- Set proper decimal places: [2nd][DEC] lets you set decimal places from 0-9
- Clear memory regularly: [2nd][CLR WORK] clears cash flow memory, [2nd][CLR TVM] clears TVM registers
- Use the chain calculation feature: The calculator maintains the order of operations automatically
- Practice with real problems: Work through sample problems from finance textbooks to build proficiency
- Keep the manual handy: The EL-738F has many features that aren’t immediately obvious
- Use the protective case: This calculator is an investment – protect it from damage
Common Mistakes to Avoid
- Sign conventions: Remember that cash outflows are negative and inflows are positive
- Payment timing: Always set whether payments are at the beginning or end of periods
- Compounding periods: Make sure P/Y matches your calculation (e.g., 12 for monthly)
- Clearing memory: Forgetting to clear memory between problems can lead to incorrect results
- Decimal places: Too few decimal places can cause rounding errors in sensitive calculations
- Order of operations: While the calculator handles this automatically, complex expressions should be entered carefully
- Battery vs. solar: In low light, make sure the battery is charged for reliable operation
Maintenance and Care
To ensure your Sharp EL-738F continues to perform optimally:
- Cleaning: Use a soft, slightly damp cloth to clean the calculator. Avoid harsh chemicals.
- Storage: Store in a cool, dry place away from direct sunlight when not in use.
- Battery replacement: The CR2032 battery typically lasts 2-3 years with normal use.
- Button care: Press keys firmly but don’t use excessive force which could damage the membrane.
- LCD display: If the display becomes faint, replace the battery or increase light exposure for solar operation.
- Transport: Always use the protective case when carrying the calculator to prevent damage.
Where to Buy and What to Pay
The Sharp EL-738F is widely available from office supply stores, online retailers, and specialty calculator shops. Typical price ranges:
- New: $30-$50 depending on the retailer and any bundled accessories
- Used: $20-$35 for calculators in good condition
- Refurbished: $25-$40 with warranty from authorized sellers
Recommended retailers include:
- Amazon (with Prime shipping options)
- Staples/Office Depot (for in-store purchase)
- Walmart/Target (often competitively priced)
- Specialty calculator stores (for expert advice)
Alternatives to Consider
While the Sharp EL-738F is an excellent choice, you may want to consider these alternatives:
- HP 12C: The gold standard for financial calculators, using RPN (Reverse Polish Notation)
- Texas Instruments BA II Plus: Popular choice with similar functionality
- Casio FC-200V: Another excellent financial calculator with robust features
- HP 10bII+: More affordable HP option with good financial functions
- Texas Instruments BA II Plus Professional: Enhanced version of the BA II Plus
Final Verdict: Is the Sharp EL-738F Right for You?
The Sharp EL-738F is an excellent choice if you:
- Need a reliable financial calculator for professional use
- Prefer a logical, algebraic input method (rather than RPN)
- Want comprehensive statistical functions
- Need a calculator approved for professional exams
- Appreciate a two-line display for easier verification
- Want good value for money
Consider other options if you:
- Prefer RPN input (consider HP 12C)
- Need more advanced programming capabilities
- Want a calculator with a larger display
- Need specialized functions not available on the EL-738F
The Sharp EL-738F strikes an excellent balance between functionality, ease of use, and affordability, making it one of the best financial calculators available for both students and professionals.