![]() Over its lifespan, the proprietary silicon on sapphire HP Nut (originally the 1LF5, then 1LM2) processor's technology has been redesigned to integrate all the circuitry into a single chip (first the 1LQ9, then 1RR2) and to refresh the manufacturing process (as the foundry could no longer manufacture the necessary chips, having moved on to making higher-density chips). There were at least eight hardware revisions of the HP-12C since 1981 (including one special issue). There are 99 lines of programmable memory on the HP-12C. After the programming is complete, the macro will run in the computation mode to save the user steps and improve accuracy. 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.) if applicable to the solution. The HP-12C's programming mode is very intuitive and works like a macro operation on a computer. Modern HP financial calculators are many times faster with more functions, but none have been as successful. The 1977 October edition of the HP Journal contains an article by Roy Martin, the inventor of the simple method of operation used in HP financial calculators, which describes, in detail, the mathematics and functionality built by William Kahan and Roy Martin that is still used today. Its popularity has endured despite a relatively simple but iterative process such as amortizing the interest over the life of a loan, a calculation that modern spreadsheets can complete almost instantly, can take over a minute with the HP-12C. Due to its simple operation for key financial calculations, the calculator long ago became the de facto standard among financial professionals. The HP-12C is HP's longest and best-selling product, in continual production since its introduction in 1981.
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