This past weekend I spent some time creating online calculators for different financial situations. I’ve been using the loan payoff date calculator on other websites for a year now and wanted a quick way to calculate different situations on my website. Below you will find various calculators ranging from how long till you pay off your loan, to how much money will have potentially have saved for retirement. You’ll notice that the website has added a few links including blogroll to the menu. These calculators will also be linked in the menu for easy access
List of calculators:
This is a calculator which will figure out how long till you double your money at a certain percent rate of return. The phrase rule of 72 is based on the rough estimate that takes an interest rate, lets say 8% and divides this into 72. For example, 72/8 equals 9 years. The formula is a little bit more complicated than that which is why the number in this calculator may end up being a long decimal. Try it for yourself to see how long it will take to double your money at various interest rate returns.
The retirement calculator below can estimate how much money you will have in today’s dollars when you are ready for retirement. The calculator assumes monthly contributions of your gross paycheck and has interest capitalize quarterly as many investments pay dividends more than once a year. Note that this calculator assumes that all investments are also pretax as your tax bracket will change depending on level of income and what vehicle you choose for retirement. In the future I will build a calculator for the various retirement vehicles and tax brackets.
The lease calculator can help you determine the cost of a lease or even the cost of a loan if you put the residual value to 0. This calculator will also tell you how much interest you will pay over time.