# Ultimate Financial Calculator

### What is the Ultimate Financial Calculator?

The Ultimate Financial Calculator (UFC) is the most sophisticated, most flexible calculator on AccurateCalculators.com and I think on the entire internet.

If you are someone who needs date accurate **time value of money** calculations for either regular or irregular **cash flows** (loans, payments, deposits, withdrawals, investments), this is the calculator you should study and use.

See the tutorials for step-by-step guides.

Questions?

Feel free to post your questions, comments or concerns at the bottom of this page. Remember, I'm here to help. There's a lot more below

#### Recent changes and enhancements

- Jan. 10, 2024: Changed the default long and short-period interest options under "Settings." This means
**you will not get the same results**you previously had__unless__you reselect your preferred setting. - 2023: Save any schedule's data to
**Word/docx**or**Excel/xlsx**files. Click on "Schedule" then "Continue" past the title page. - The calculator automatically sorts the cash flow prior to file save and calculation. This fixes the issue where the "Unknown" did not calculate due to overlapping dates in different cash flow series unless the user had clicked the "Expand" button.

## Calculator's Features

*for step-by-step instructions.*

**24 tutorials**### Solve for any unknown

- Payment or loan amount
- Deposit or withdrawal
- Yields: APR, APY or IRR
- Balance as of a specific date
- Present value (PV)
- Future value (FV)
- Balloon payment amount
- Payment required to reach a specific balloon
- Number of payments
- Discounted values
- Remaining balance
- Deposit required

### Any type of calculation method

- Normal amortization or investment
- Rule-of-78s
- Canadian methods
- U.S. Rule — simple interest
- Supports 360, 364, 365 and 366 day years*
- Exact day or periodic interest calculations

### Scheduled (but adjustable) Payment Frequencies

- Daily
- Weekly
- Bi-weekly
- Twice monthly (Half-month)
- Every 4 weeks
- Monthly
- Bi-monthly (every two months)
- Quarterly
- Every 4 months
- Semi-annual
- Annual

### Flexible Reports & Schedules

- Amortization & investment schedules
- Select a fiscal year end
- Reg. Z APR disclosure calculation
- Track or keep an "Open Balance"
- Track escrow payments and disbursements

### Handles any type of cash flow

- Normal
- Interest-only
- Enter your own payment amount
- Negative amortization
- Skipped payments or deposits
- Fixed principal + interest
- Percent step amounts
- Dollar step amounts
- Balloon payments
- Extra payments — principal only
- Payments to interest
- Cash flow amounts set to any random date

### Compounding Frequencies

- Exact Day / Simple
- Daily compounding
- Weekly
- Bi-weekly
- Twice Monthly (Half-month)
- Every 4 Weeks
- Monthly
- Bi-monthly (every two months)
- Quarterly
- Every 4 Months
- Semi-annual
- Annual
- Continuous
- Change the frequency of compounding during a cash flow
- No compounding option when rate changes

### *What are 360, 364, 365 and 366 day years?

The days-per-year option impacts interest rate calculations. The calculation divides the nominal annual rate by 360 for equal length periods, 365 for actual length periods, and 366 if a leap year. Advanced calculators, such as the Ultimate Financial Calculator, give the user the ability to select the days-in-year. You will see the impact to interest when there are odd days (that is, irregular periods), or when compounding is set to daily or exact. Many other calculators on this site support this option.

## Calculators the Ultimate Financial Calculator Replaces

With this calculator's flexibility, it will meet the needs of anyone searching for:

- loan repayment calculator
- loan payoff calculator
- mortgage payoff calculator
- repayment calculator
- student loan repayment calculator
- home loan repayment calculator
- car loan repayment calculator
- debt payoff calculator
- early mortgage payoff calculator
- debt repayment calculator
- individual or specialty
*TVM*calculators

Tell us how you use the **Ultimate Financial Calculator**. And naturally, if you have any questions, feel free to ask them below.

## mike says:

hello, do you offer an API for this calculator? Please let me know as this is something i would like to add to my site if possible.

## Karl says:

I do not have an API for the UFC calculator.

## mike says:

do you have any plans for that? Or is this project open sourced? I would love to add this to my site for my employees as a resource. Please let me know.

## Karl says:

Please feel free to purchase subscriptions to the UFC for your employees. 🙂 $49.95/year.

I have no plans to support an API or to make the calculator open source.

## Floyd says:

I am trying to do a very simple amortization schedule for an October 4, 2023 $6,144.89 loan with no interest and fixed payments of $500.00 beginning November 4, 2023 and continuing until paid. I should be able to do this on two lines – one with the loan amount and one with the payment series by entering the loan amount and the number of frequencies as “Unknown”. However, when I hit calculate, it creates a payment date one month prior to the loan date. Can you help resolve this issue? Thanks.

## Karl says:

I agree with what you say. That is a problem. I made a change last week and introduced an auto sort feature when the user clicks calculate. That "broke" the calculator when the number of periods is unknown.

There is a workaround so that you can get an accurate schedule.

Notice that even though the payment is one month before the loan, the number of payments is calculated. Using your example the unknown value is 13.

Using that information, set up the calculation again, but rather than entering "unknown" for the #, enter the calculated result from the first calculation i.e. 13.

You can then click on the "Schedule" button to get an accurate payment schedule.

I should be able to get this fixed sometime next week.

## Karl says:

I just noticed you said "no interest". I had my rate set to 6.5%. With a 0% loan, the number of payments calculated will be 12, not 13.

## Karl says:

The problem Floyd reported was fixed as of Sept. 29, 2023.

## edward says:

I need a loan calculator a loan calculator. It needs to take a sum, put the term and the interest trate, I need to be able to get a pay schedual. now this does all that but I need to add in an eliment. what if the first 12 or 24 months were “holiday” so at the end the of that 12 months or 24, the total interest would be due then the next month is a normal payment. Also one more thing to ad, some loans are interest plus principal, others are just intrest…

## Karl says:

Everything you need to do is doable with the UFC (Ultimate Financial Calculator).

Have you seen these 25 tutorials?

#13 is about odd length first periods. You’ll want to enter line 1 as the loan amount and then the 2nd line will be 12 or 24 months later. Set long period interest to with first.

#14 is about interest-only loans and interest-only series.

This should get you started. If you have other questions, please ask.

## smurphy says:

I need to calculate the amount to cure a default where initial interest rate was 5.5%, default rate is 10%, and the borrower is behind 17 months and 21 days. Do you have a calculator that would include the change in the interest rate (and thus the increase in payment) on the date of default? (payment no. 50 in this case) I thought this one might work, but it does not seem designed for this. Thank you!

## Karl says:

The UFC will work. Have you seen the tutorials?

What part is not working for you? Have you been able to change the rate?

## smurphy says:

I will look at the tutorials. I have been using your calculators for years and find them very intuitive, but this one is not for me. Thank you for your reply. If I view the tutorials and still don’t see where to change the rate in the middle of the term, I will get back in touch.

## Karl says:

You are correct. The calculator is not particularly intuitive.

The calculator’s design makes a trade-off between intuitiveness and flexibility.

Since I don’t know all the details of your particular loan, and can only give you some general suggestions for how to proceed. Enter the 5.5% rate as the "Initial Interest Rate."

Then in the first row, under "Series", select "Loan" and enter the date the loan was advanced and the loan amount. Under "#" enter 1 (one loan).

In the second row, under "Series" select "Paymment" and enter the date of the first payment and the payment amount. Under "#" enter the number of payments that were made on time.

In the third row, under "Series" select "Rate Change", enter the date the rate changes and the new rate (10.0%).

If no other payments were paid and you just want to know the balance, in the 4th row, select under "Series" "Payment", enter today’s date, and type a "U" in the amount column for "Unknown". Enter 1 under "#". Calculate. The amount show will be the loan balance as of today.

I hope this helps to get you started.

Tutorial 1 is useful for an overview. And tutorial #25 is about tracking loan payments as they are made. There’s a tutorial about adjustable rates too.

## brazucacanucka says:

Hi, I created some amortization schedules for a variable rate mortgage last night on, I believe, UFC. Saved as .xlxs files on my computer, when I go to load them today I’m getting a popup that it can’t load the file. Suggestions?

## Karl says:

Hi, the ".xlsx" files are for loading the schedule into Excel or Google Docs, not back into the calculator.

To create a data file that the calculator will understand and be able to load, use the "File" -> "Save as" feature. (It will create an ".xml" file.)

Does this resolve the problem?

## Andy Morris says:

Do you allow amortizations to be named on the printout. I have several mortgage amortizations to keep up with the mortgagee name on them?

## Karl says:

The Ultimate Financial Calculator allows you to create a title page with various details, such as who the loan is for. Is that what you need? Did you see that feature?

## smurphy says:

Hi Karl, I was able to enter the agreed upon monthly principal payment, but I do have additional questions:

In the schedule, it showed prepaid interest from the loan date for the first two years and showed it as paid.

In the schedule, the initial two-year principal only payment continues as principal xtra payment. This is not the intent.

Is there a way to adjust the interest rate after 24 months?

Essentially, this is a 13 year loan with 2 years of principal only payments at an agreed upon amount, then 11 years at an adjusted rate with normal principal & interest payments.

## Karl says:

What does it say in the last column of the 2nd row? It most say “Principal First Series.” You have to make sure you active it (make sure the radio button is clicked.)

You should not be seeing prepaid interest.

Yes, you can adjust the interest rate. See the adjustable interest rate tutorial. You’ll pick “Rate Change” in the first column.

## Karl says:

The “prepaid interest” you are seeing might be due to having initial odd days.

If the payments are monthly, are you setting up the schedule so the first payment is exactly one month after the loan date. If not, look at the interest options under settings, or set the first payment to be a month after the loan date and we’ll take care of the prepaid interest after you get the schedule you need except for that detail.

## smurphy says:

Hi again Karl,

I forgot that we are also adjusting the loan balance by adding unpaid interest after 2 years and making a separate principal lump sum payment. So I will just run a normal mortgage calculator for 11 months of “normal” payments.

## smurphy says:

Karl,

Thank you so much for your help. I started over with your advice and just did two separate schedules since there will be additional adjustments for the second phase of the loan. This is a really great tool.

## Karl says:

You’re welcome. Glad to hear that it at least got you close to what you want.

So you know, there should not be any need (from what I know at this point) for you to do two separate calculations. The calculator should handle the loan as one lone regardless of rate or payment changes or how the payments are allocated between interest and principal.

## smurphy says:

Yes, I do understand that, it was just faster for me since I am not adept at all aspects of the more complex calculator. The end result is the same, for this particular matter. After I look at some of the tutorials I will be better equipped in the future to create one schedule. Thank you!

## CityofWakefield says:

How do I calculate a payment schedule for a loan with no interest due.

## Karl says:

You can set the "Initial Interest Rate" to 0%.

Then no interest will accrue.

Or did you have something different in mind?

## CityofWakefield says:

I found it – “no interest” under the Calculation Method tab.

Thanks.

## Karl says:

I’m glad you found it.

But please note, you posted your question on the page for the "Ultimate Financial Calculator." From what you are telling me, you must have been using the "Amortization Schedule," since that’s the calculator that has the "No Interest" option under "Amortization Method.".

I would have been able to provide you with a more accurate answer had you posted your question on the page with the calculator that was giving you some difficulty.

For the "Ultimate Financial" you do enter "0.0%" for the initial rate and set the payment amount to "Unknown."