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Which calculator should I use?

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The Most Frequently Asked Questions

Q. Which calculator should I use to record seller-financed payments and calculate payoff amounts?

A. Use the Loan Payoff Calculator. It lets you enter each payment. It supports missed, skipped, and extra payments. It supports interest rate changes.

Q. Which calculator lets me enter irregular repayments and see the remaining balance?

A. Use the Loan Payoff Calculator. Enter payments on their actual dates. It supports missed, skipped, and extra payments. It supports interest rate changes.

Q. My lender and I disagree on the amount I owe. Which calculator will compute the current balance?

A. Use the Loan Payoff Calculator. Enter the complete payment history. The calculator computes the balance using your actual payments and any rate changes.

Q. How do I calculate annualized rate of return (IRR) or gross return for stocks, options, bonds, or mutual funds?

A. Use the Internal Rate of Return (IRR) Calculator. Select Help in the calculator for setup instructions.

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General Financial Planning

Q. Which calculator should I use to plan quarterly college savings over 12 years?

A. Use the Savings Calculator for a quick estimate. For a more detailed plan, use the Investment Calculator. It supports inflation and tax adjustments.

Q. I lent $45,000. After one year, I will receive $1,067.17 for 48 months. What is my rate of return?

A. Gross return: 13.8%. Annualized return: 4.5%. Use the Internal Rate of Return Calculator.

Explanation: The rate of return is not equal to the loan’s stated interest rate. The payment was calculated on $45,000 at 6.5% for 48 months. The first payment occurs after a one-year delay. No interest is earned during that year.

Q. Will a $200,000 cash purchase rented at $6,000 per year for 10 years and sold for $220,000 achieve a 9% return?

A. No. The result is about $58,565 below a 9% target. Use the Net Present Value Calculator.

Note: This investment does not meet the target because the NPV is negative.

Q. I will save every other month: $1,000 now, $2,200 starting in 5 years, and $3,000 starting in 10 years. What will the balance be after 5, 10, and 20 years? What if interest rates change?

A. Use the Ultimate Financial Calculator. It supports irregular deposits and interest rate changes.

Q. After I retire, how long will my savings last if I withdraw $2,500 per month and earn 8%? What will I have after 10 years?

A. Use the Annuity Schedule calculator. It shows the depletion date and balances by month and year.

Q. What is the interest on a $50,000 loan for 70 days at 11.5% (simple interest)?

A. The interest is $1,102. Use the Interest Calculator.

Q. In 20 years, what monthly amount will match the purchasing power of $6,000 today if inflation is 3% for 5 years and 4% for the next 15 years?

A. You will need $12,525 per month. Use the Inflation Calculator. Do the calculation in two steps.

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General Business Questions

Q. How many units must we sell to break even on a new product?

A. Use the Break Even Point Calculator. Enter fixed costs, unit price, and unit variable cost.

Q. Should we lease or buy office furniture? How does depreciation affect the decision?

A. Use the Lease vs Buy Calculator. It includes depreciation in the comparison.

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Loan Planning

Q. Which loan costs less: $150,000 at 8.5% with 0 points, or $150,000 at 8.0% with 3 points paid upfront? What if I move after five years?

A. Use the Accurate Amortization Schedule. Run one case with points and one case without points.

Q. How much interest will I save if I pay an extra $100 per month toward principal? Which calculator should I use?

A. Use the Extra Payment Calculator. It also compares extra payments with investing the same amount.

Q. I must provide a Regulation Z APR disclosure. Which calculator should I use?

A. Use the APR Calculator. It is compliant with the Truth in Lending Act.

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