Enter the mortgage term length duration (term) in years; the default is 30 years. Enter the interest rate in a whole number of the percent.The default is 7 percent. Enter the entire amount of your financed mortgage, including any closing costs or other expenses that will be in the loan. Do not use commas or the dollar sign ($) on any of the entries. Enter the estimated annual taxes and insurance impound; those defaults are $1,500.00 and $1,000.00 respectively. If you are NOT impounding them, enter a zero (0). Click on Calculate Mortgage for results.
Compound Savings Interest Calculator
Use to calculate the compound interest on a savings account or CD over a finite time period. This is NOT simple interest. The Compound Interest Calculation Formula is based on the philosphy that interest is paid on original amount of deposit, plus any interest earned. Here is the formula:
(Original Amount + Earned Interest) x Interest Rate x Time On Deposit = Total Interest Earned
Enter the amount of the savings deposit and the compound interest rate. Then determine the length of the deposit time period. The calculation is done in years but you may enter either years or days. The year is a finacial year of 365 days, as opposed to a calendar year and may or may not be the "exact number of days" if multiple years are spanned. The compounding is annual. Click on Calculate and determine the Interest, potential and actual.
Retirement Income Calculator
Use this tool to calculate the future disbursements of a retirement plan, based on a fixed growth rate before and during retirement. Enter the dollar amount of the accumulated principal, the initial investment for the plan, using just numbers and the decimal. Enter the planned annual additions to the principal. Enter the number of years this will build prior to retirement. Next, enter the published interest growth rate you expect to earn on that investment before retirement. In the During Retirement section, enter the number of years to disburse the payments and the anticipated earning rate during retirement. Click on the Calculate button and the annual disbursement will be returned. You may click on Clear Values to do another calculation.
