The HP-12C is a popular financial calculator. It was such a successful model that Hewlett-Packard redesigned it from scratch, added several new functions, and introduced it as the HP-12C Platinum in 2003 and a limited 30th anniversary edition in 2011.
The HP-12C is HP's longest and best-selling product, in continual production since its introduction in 1981. Due to its simple operation for key financial calculations, the calculator long ago became the de facto standard among financial professionals – for example, most investment banks issue HP-12Cs to the members of each incoming class of its investment banking analysts and associates. Its popularity has endured despite the fact that even a simple, but iterative, process such as amortizing the interest over the life of a loan—a calculation which modern spreadsheets can complete almost instantly—can take over a minute with the HP-12C.
Later HP financial calculators are many times as fast with more functions, but none has been as successful. The HP-12C's programming mode is very intuitive and works like a macro operation on a computer. Basically, the keys one would press in the calculating mode to arrive at a solution are entered in the programming mode along with logical operators (if, and, etc.) applicable to the solution. After the programming is complete, the macro will run in computation mode to save the user steps and improve accuracy. There are 99 lines of programmable memory on the HP-12C, and 400 lines on the HP-12C Platinum.
The HP-12C Platinum is a revision to the successful 12C. The 12C Platinum is visibly distinguished by its silver-colored upper half as opposed to the gold-colored plate on the original 12C. The Platinum has a faster processor, larger memory and more built-in functions.
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