Below are two popular money calculators. The first calculator will tell you how much you need to save on a regular basis to reach a future financial goal. The second calculator, will help anyone who is considering borrowing money for whatever reason. The calculator will solve for the payment amount or if you know how much you can afford to pay, it will also solve for the loan amount. That is, it will tell you how much you can borrow. Additionally, the calculator will solve for the term or the interest rate.
If these basic calculators do not meet your needs, we have over 40 additional calculators. This is a list of our online calculators and this is a list of financial calculators you can download and run on your Windows computer. Specifically here is a more feature rich Savings Calculator and a more flexible Loan Calculator.
Note: Other online calculators on this website will allow you to print the results.
This money calculator solves for the regular investment amount required to reach some future sum. Enter your "Future Goal Amount" (In finance jargon, this is known as the future value). Then enter the number of periods for which you plan to make the regular deposit or investment (180 total periods with a frequency set to monthly equals 15 years). Set the "Deposit/Saving Frequency" and "Compounding Frequency". Enter the expected annual interest rate.
This calculator is most often used to answer questions such as "how much do I have to save to be a millionaire if I want to be a millionaire in 20 years?"
Enter 1,000,000.00 for the "Goal Amount". Assuming that you want to save on a quarterly basis, enter 80 for the "Total Periods" (80 deposits made 4 times a year is 20 years). Set the "Annual Interest Rate", say 8.5%. Set the "Deposit/Saving Frequency" to "Quarterly". Finally, set the "Compounding Frequency" to your assumed compounding frequency (for the most conservative result, set it to "Simple Interest".
For the above example, if compounding is set to quarterly, then the investor will have to invest $4,854.57 every quarter for 80 quarters to reach $1,000,000.00.
A loan has four primary variables. Ask yourself these questions:
What is the amount of the loan (amount borrowed)?
How long will the payments last (term)?
What is the annual interest rate?
And what is the periodic payment amount?
Enter any three of the above values and enter a '0' (zero) for the one unknown value.
Click 'Calc' and the unknown will be calculated.
Note: Our other loan calculators do not make some of the same assumptions that this calculator makes. This calculator assumes that the payments will be made on a monthly schedule — not so for our other calculators. Secondly, it assumes that the term will not include a fractional year. If you need to borrow or lend money for say 30 months (2.5 years) then use one of the other loan calculators found on this site.
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Time Value of Money