[gperkins978]

For many business-type courses they like you to be able to quickly get an IRR or NPV value. One could solve that by hand, but the exams would be long and require manual grading. According to my older colleagues when I started my career, they used to bring their HP calculators to client meetings before laptops were a thing. They would sit around and do estimated calculations. If you look at old photos, your can see the HP calculators in them and paper with written calculations. When I started my career in 2000, laptops were already ubiquitous. There were still old timers with the RPN calculators from HP. Excel is better for finance. For real analysis and simulation stuff like Mathmatica and Maple are better, with SAS, SPSS and R for statistics, although SAS is used a ton in finance, insurance as well as government.

[ielillo]

That's another point, during college some tests were and multiple choice questions. They were manually graded and for each answer you needed to prove how did you get the answer. I don't remember any kind of automated grading system. Everything was done by hand, whether by the teacher or TA's