How To Clear Financial Calculator

Your interactive tool to quickly find reset instructions for your device.

Interactive Reset Instructions Finder

Forgetting to clear previous work is a common source of errors in financial calculations. Select your calculator model below to get the correct clearing procedure.

What Does It Mean to Clear a Financial Calculator?

Knowing how to clear a financial calculator is a fundamental skill for finance students, CFAs, and professionals. Clearing a calculator means resetting its memory registers to remove old data from previous calculations. Financial calculators store values for variables like Present Value (PV), Future Value (FV), Interest Rate (I/Y), Number of Periods (N), and Payments (PMT). If these values are not cleared, they can be inadvertently included in your next calculation, leading to significant errors. There are often multiple ways to clear a calculator, from clearing recent work to a full factory reset.

Why Clearing Your Calculator is Not a Formula

Unlike a typical calculation (e.g., loan amortization), clearing a calculator is a procedural action. There is no mathematical formula. The “calculation” is simply identifying the correct sequence of keystrokes for a specific model. This guide helps you find that exact sequence.

Summary of Reset Procedures

This table provides a quick overview of the primary reset methods for common financial calculators.

Calculator Model	Primary Method (Soft Reset)	Secondary Method (Hard Reset)
TI BA II Plus	Press [2nd] then [RESET] (+/- key), then [ENTER].	Use a paperclip to press the small reset button on the back.
HP 12C / 12C Platinum	Press [f] then [CLX] (or the key with REG/FIN/PREFIX).	Turn off, hold [-], press [ON], release [-].
HP 10bII+	Press [Shift] then [C ALL].	Hold [ON] and the Nth key (I/YR), then press the PV key.
Casio FC-100V/200V	Access system settings to reset all memory.	Remove the battery for a short period.

Practical Examples of When to Clear

Here are two scenarios where failing to clear the calculator would cause problems:

Example 1: Calculating a New Loan After an Old One

• Previous Calculation: A 30-year (360 months) mortgage. You entered N=360.
• New Calculation: A 5-year (60 months) car loan.
• The Mistake: If you only update the interest rate and loan amount but forget to clear the Time Value of Money (TVM) registers, the calculator might still use N=360 from the previous problem. Learning how to clear the financial calculator prevents this. You should always perform a TVM clear ([2nd] [CLR TVM] on a TI BA II Plus) between problems.

Example 2: Switching Between Bond and Annuity Calculations

• Previous Calculation: A bond valuation with a $1,000 Future Value (FV).
• New Calculation: An ordinary annuity problem where the future value should be zero at the start of the calculation.
• The Mistake: If the $1,000 FV is not cleared, it will be incorrectly applied to your annuity calculation, giving you a wrong answer for the payment or present value. Proper clearing ensures each calculation starts with a clean slate.

How to Use This Interactive Reset Guide

1. Select Your Model: Choose your calculator from the dropdown list. The list includes some of the most popular models used in business schools and for CFA exams.
2. Click “Show Instructions”: The tool will display the specific key presses needed to clear different memory types on your selected device.
3. Follow the Steps: Carefully press the keys as shown. The instructions often include a “soft reset” for clearing work and a “hard reset” for restoring factory defaults.
4. Interpret the Results: The output explains what each clearing method does, such as clearing only the TVM worksheet or resetting all calculator settings. A proper guide on how to clear a financial calculator is essential for exam success. For more information on core functions, see our guide on financial calculator basics.

Key Factors That Affect Calculator Resets

• Model Specifics: The most crucial factor. A reset sequence for a TI calculator will not work on an HP model.
• Type of Memory: Are you trying to clear TVM worksheets, cash flow data, or statistical data? Each may have a separate clearing procedure.
• Soft vs. Hard Reset: A soft reset (like [2nd] [CLR TVM]) clears calculation data but keeps settings like payments-per-year (P/Y). A hard reset ([2nd] [RESET]) reverts everything to factory defaults.
• Battery Removal: Removing the battery is the ultimate hard reset, clearing all memory and settings.
• Physical Reset Button: Many calculators have a small, recessed button on the back that can only be pressed with a paperclip for a hard reset.
• Keystroke Errors: Pressing the keys in the wrong order will fail. For example, on an HP 12C, you must hold the [-] key *before* pressing the [ON] key for a reset. Consulting a guide on the best financial calculators can help you choose a model with an intuitive interface.

Frequently Asked Questions (FAQ)

1. What’s the difference between CLR TVM, CLR WORK, and RESET on a TI BA II Plus?

CLR TVM clears only the time-value-of-money worksheet (N, I/Y, PV, PMT, FV). CLR WORK clears other worksheets like Cash Flow or Stats. RESET reverts all settings (like decimals and P/Y) to factory defaults.

2. Why is my HP 12C giving me a “Pr Error” message after a reset?

This is normal. “Pr Error” (or “pr CLr” on some versions) indicates a successful memory clear. Simply turn the calculator off and on again to proceed.

3. I cleared my calculator, but my answer is still wrong. What else could it be?

Check your P/Y (payments per year) setting. It should almost always be set to 1 for exam purposes. Also, check if your calculator is in “BGN” (beginning) mode for annuities due.

4. How do I perform a hard reset without using the keys?

Most calculators have a tiny reset button on the back, accessible with a paperclip. The most drastic method is to remove the battery for about a minute.

5. Will resetting my calculator change the date or time?

Most standard financial calculators like the BA II Plus and HP 12C do not have date/time functions, so there is nothing to change.

6. Is it necessary to clear the calculator before every single problem?

Yes, it is best practice. Getting into the habit of pressing [2nd] [CLR TVM] before starting any new problem will prevent countless errors. It’s a key part of learning how to clear a financial calculator properly.

7. What does clearing the statistics memory do?

It removes data points entered for statistical calculations like standard deviation or regression analysis. On an HP 12c, this is often done by pressing [f] and then the key for Sigma (Σ).

8. Can I clear just one memory register?

On some calculators, yes. For example, on a TI BA II Plus, you can store a value of 0 in a specific memory location (e.g., [STO] clears memory register 1).