# 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.

## Nancy Spady says:

Hello. Using UFC and Chrome, calculation worked fine for a complicated loan schedule. (Thanks again for making this tool!) However, export to .XML opened in Office365 Excel as gibberish, basically info from the title page only. I had no problem getting past the warnings to save it, just seemed to not get the schedule needed. Printing to PDF worked fine, btw.

I reverted to my old desktop version just to get done quickly, but the online version is quite smooth and I would like to use it. Any suggestions would be most welcome. Thanks!

## Karl says:

Hi Nancy, I’m not sure I’m following you. Just to be sure, using the online UFC, you did a file save, and then you used Excel to open that file? If so, what do you mean by *quot;gibberish?" Does that mean it was not formatted very well in Excel?

And from UFC, when you click on "File" -> "Save as…" what warning message are you talking about that you had to get past? There should be no warning that I can think of.

To clarify, the file save feature is meant so you can save your inputs and then come back at a later time and use the file open feature to start from where you left off. When you do file save, it is not saving the amortization schedule, which the calculator will always (re)create. It is saving your inputs so that you don’t have to rekey them in. I’m not sure there would be a benefit to loading them into Excel.

## Mark says:

Hello Karl

Thanks for all the calculators! When the regular loan payment is at the end of the month, and when calculating a loan payoff mid-month, the payoff or ultimate calculator computes interest for the whole month instead of just a partial month. – Mark

## Karl says:

Hi Mark, you’re welcome and you’re right! I can’t believe it. It’s been years since a bug has been reported. I’ll let you know when I fix this. Hopefully, it won’t take too long. (A week?) Thanks for taking the time to report it.

## Karl says:

In the meantime, I believe I have a workaround.

I assume you are setting the last payment due mid-month to "Unknown" and then creating a schedule.

Rather than set it to "Unknown", set it equal to the last calculated payment amount, and then make sure the "Rounding" option under "Settings" is set to "Adjust last amount to reach “0” balance". If you create the schedule, the payment will be adjusted and the interest looks to be right. Furthermore, if you change the last date by a day, the interest amount changes.

So it appears that the schedule is accurate, but the main input area will still show the payment amount that you entered rather than the final adjusted payment.

## Karl says:

Mark, I released a fix on Sunday for the loan payoff amount bug.

If you do not see the change right away, you may have to perform a hard refresh of the page:

Depending on your operating system all you need to do is the following key combination:

Above, from Refresh Your Cache.

Thank you for taking the time to report this. I’ve been wondering, do you have experience with software projects? Your analysis as to exactly when the bug affected the result was spot on and your explanation was very succinct.

## ravi says:

Hi,

we are using actual/(365 for normal year and 366 for leap year) interest calculation for repayment schedule , and we are getting last emi different from the actual emi , how can we adjust , what process can we do to make all installments as same without using 30/360 days

## Karl says:

Hi Ravi,

If the loan calls for actual/365 and actual/366 in leap years, then set the calculator’s days per year option to 366 under "Settings".

If you want the interest not to vary due to the number of days in the period (but only due to the declining loan balance) then you should select a compounding frequency that is based on weeks or months. In that case, one would normally select a compounding frequency equal to the payment frequency.

Does that answer your question? If not, can you give me an example with some numbers?

## Sharon says:

On the ultimate financial calculator if I do a loan and have a balloon payment at year five calculated, then I add some random extra payments, do I need to go back to the balloon line and calculate that again?

## Karl says:

The calculator does not assume that any value will be recalculated. Thus if extra payments are inserted after the balloon payment is calculated, the user will most likely want to calculate the new balloon amount since the extra payments would impact its value.

There is another possibility (and this is why nothing is assumed), the user might want to recalculate the regular payment amount after an extra payment (but before the balloon). The calculator is capable of doing this calculation. This way, the user can see by how much an extra payment could reduce the subsequent regular payments.

## Sharon says:

The tutorials 7 and 9 which I am using both it says to set the rounding to open balance no adjustment. Tutorial 1 says to set rounding to adjust last amount to reach 0 balance. Can that be used for the situations talked about in 7 and 9?

Or if there is a small credit at the end do you have the person deduct that from last payment to you?

Thanks for all your help!

## Karl says:

Yes. For the balloon payment tutorial #7, at step 7, change the rounding option to something other than open balance. Then there won’t be the small credit.

And for tutorial #9, after you calculate the remaining term, after all the random extra payments are entered (step 10b), you can add another step. The example says the remaining term is 23 periods. After that calculation, change the 23 to 22 and add one more row with an unknown payment amount. Also, change the rounding option to any option other than open balance. Then calculate that last payment to reach the 0 balance. If the payment is too small to be practical, then reduce the number of periods in the row above by 1 again, and then recalculate the final payment once again.

The calculator is flexible. You can design the loan to meet your needs, and you should not need to do any manual or on the side calculations. That should not be necessary.

## Elizabeth Adams says:

Hello, Karl… The “Ultimate Financial Calculator”…this is the one you developed, yes? I’m interested in your work… can you tell me if there’s a fee involved to use it and, if so, can you provide a link? Thank you… Elizabeth

## Karl says:

Hi, yes, I developed UFC. There is no charge presently for using the online calculator. The equivalent calculator for Windows is C-Value! and that costs $50.00 for a license. Unless you have a specific reason for needing C-Value! (such as its export to Excel feature and its ability to change fonts for reports), I would recommend the free online Ultimate Financial Calculator.

## Zach says:

Karl,

I’m trying to correctly calculate the loan balance where the borrower makes payments days or sometimes 1-3 months late. The interest is compounded monthly (I selected monthly in the compounding setting). I entered the loan details and then entered each payment using the exact date the payment was received. The schedule shows a balance due. Is the interest being compounded monthly when payments are missed for 1-3 months?

Alternatively, should I enter the loan and enter each payment on the date it’s due (1st of the month) with a $0 amount, then enter the actual payment as an Xpmt on the actual date received? Would it yield a different balance due? I have an xml file I can send if it would be helpful.

Great site, Karl. Thanks, Zach

## Karl says:

Hi Zach, yes, the interest is being compounded monthly since that’s the frequency you’ve selected. I would enter the payments on the dates they are received. No need to enter the missed payments as a 0 unless you want to show the balance after the missed payments.

## Graham says:

Hello Karl,

Great website!

I am wondering why at the bottom of my schedule I can have zero in my Interest Balance and $75,000 in my Principal Balance, but the (overall) Balance is $74,951.19? Shouldn’t that last column equal to the sum of the previous two? I notice that the difference of $48.81 is equal to the sum of two earlier loan/fee amounts that were applied as a negative principal paid for the amount of interest charged for those particular periods. Curious what is happening here. Thanks very much!

Graham.

## Karl says:

Thank you. I’m glad that you find the site useful.

I’m not sure that I’m following you however. Can you email me a PDF copy of your schedule? The email address is on the contact page. You can use your browser to print to PDF by selecting PDF as the destination printer. Why I don’t follow you is, depending on your inputs and option selections, this calculator creates, automatically, different report layouts.

## Eric Livingston says:

Hello,

Is there a way to purchase the online calculator? I could really use it for our CRM. It isn’t WordPress or Windows. Great work!

Eric

## Karl says:

Thank you! Please contact me via email to discuss this. The email address is on the contact page, which is linked to from the bottom of every page on this site.

## Christina bonnett says:

Just needing a calculator