The "calories burned" part is going to be harder to get in your budget. Most major brands have proprietary formulas to determine calories burned, so that can throw a wrench in the mix. However, there are several options available on EBay in that price range that calculate calories burned...they aren't major brand names, so I can't offer a specific recommendation, but it might be a place to start.
You can watch sporting goods store ads for sales on the Polar series monitors...they are good quality and I sometimes see them as low as 50 dollars or so.
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Heart rate monitor recommendations anyone?
