The IBM 716, used for printing the answers from problems calculated on the 701 Data Processing System, was formally announced on May 21, 1952. It could print 150 lines of numeric, alphabetic or special characters a minute or 180 letters or numbers per second.
The 716 printed information contained in storage by means of 120 type wheels. Each wheel could be controlled to print one of 26 letters, any digit from 0 to 9, or nine special characters, such as asterisks, dollar signs and diagonals.
The monthly rental charge for the 716 was $800 in 1955. The printer was withdrawn from marketing on July 14, 1969.