Calculating the Costs of a Rental Calculator – The Price Does not Add Up!

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With the economy and job market in a deep hole, students (and their parents) are going back to school with a keen eye on charges. They can no longer get by with a pad of paper and a handful of pencils. Every single year the list of supplies grows longer and the things improve in expense. Amongst the supplies that students would rate as budget busting is the graphing calculator, now essential by a lot of schools for math and science classes and almost a particular necessity for college bound higher school youngsters planning on taking the SAT and other standardized tests.

As a answer, a number of companies have popped out of the ground to provide a remedy. Their remedy is to allow students to rent a calculator. With this service, a student can now go to a math or physics class with a leading good quality graphing calculator for only a handful of dollars a month. With graphing calculators retailing at far more than $ one hundred per unit and some going for as higher as $ 200 or more, this is undoubtedly a great deal. Or is it?

A Single Semester

For some students it is. At a single rental business a student can rent a TI-84 Plus for only $ 12.00* a month or a TI-89 Titanium for only $ 16.00 a month. For 1 semester (four months in length) that comes out to only $ 48.00 for the TI-84 Plus and $ 64.00 for the TI-89 Titanium versus total** fees of $ 115.77 and $ 111.84 for a brand new unit. If you only need to have the calculator for a single semester then it is possibly much better to rent than buy.

A Complete Academic Year

If you’ll need to have the calculator for the whole academic year does it also make sense to rent? Performing some much more math we uncover that for an academic year of nine months, the rental charges for the TI-84 Plus and the TI-89 Titanium will run you $ 108.00 and $ 144.00 respectively. When compared to what you can invest for a brand new calculator the numbers appear to be mixed in the case against renting.

Other Costs

When renting it is also essential to take into account more than just the upfront per month fees. You also require to think about the following:

If you rent a calculator then you will sooner or later need to return it. As a result, make confident to account for the cost of return shipping.
If you rent a calculator there is often a possibility that you will lose it. If this happens then you will be accountable for reimbursing the rental business. Make sure you know how much this would be prior to you rent, specifically if you are the sort of student who is prone to losing issues.
If you purchase a calculator then you can constantly sell it. Of course you do not know what cost you can sell it for in the future but a fast look at Craigslist or other classified site ought to give you a rough thought. The income you can earn back should be taken into account when summing up the total price of ownership.

From the above example comparing the charges for a full academic year, it is safe to say that crunching the numbers for an even longer period of time will help the proposition that purchasing is better than renting.

* The prices had been obtained from a calculator rental organization that was listed on the 1st web page of Google when utilizing the search term “rental calculator”. Of course there are numerous organizations (and even schools) that rent calculators. The principal point, however, is that you do need to do some number crunching in order to assess which method makes far more monetary sense for you.

** The total charges were obtained by taking an typical of the retail costs of these models obtained from a simple Google search.