Illustrating Multiple IRRs Using Excel and Financial Calculator iPhone Applications
Jose A. Gutierrez, Robert Stretcher · Journal of Instructional Techniques in Finance · 2023
In recent years, the capability of handheld computing devices has developed into a compelling argument for calculator applications. This article summarizes two calculator applications for the iPhone, the Texas Instruments BA II Plus and the Hewlett Packard 10B II. The obvious advantage to the user for both applications is cost. The BA II Plus app is $5.99 and the Hewlett Packard 10B II app is 14.99, both substantially less than the equivalent calculators. The HP app discussed here, though, substantially extends the base calculator's capability. We illustrate this capability in an exposition of the multiple IRR problem in capital budgeting using Excel, and then using the two calculator applications. The extended capability of the iPhone applications is equally applicable to many other exercises in finance and other disciplines.