Definition And Features Of Financial Calculators

A Financial calculator is a device used to calculate financial matters, as compared to other calculators which are used to calculate basic mathematics. A financial calculator is very user friendly and has formulae in – built in it. A common use for financial calculators is to calculate the payments on a loan and how this will be affected depending on the repayment terms.

While considering mortgages or car loans financial calculators help in giving some authenticity while negotiating with dealers. You can get a feature rich financial calculator for less that $ 35 dollars which is well worth the investment. For those who are in the finance industry, a financial calculator acts as a very valuable tool. 

Those individuals who are involved in approving loans will find financial calculators used in their jobs on a regular basis. Therefore it is more of a necessity than a luxury. With a financial calculator you can save a great deal of time and effort as calculations are done automatically. Financial calculators can perform over 100 or more financial functions.

Some of the popular features of a financial calculator is that it helps in determining principle and interest, standards deviation, cash flows, percentages etc, to name a few. Financial calculators are of different kinds. Let us look at the different categories and some of the key features in each category

1) Mortgage calculators

This calculator helps you compare a bi – weekly payment schedule versus a monthly schedule. This will help you save thousands of dollars on interest.

It will help you determine the maximum mortgage and how different interest rates affect how much you borrow

2) Loan calculators

This calculator will help you determine your ability to qualify for a loan

It will help you calculate your loan amount for different frequencies and also help you determine your monthly payments

3) Credit card and debt management 

By using this calculator you can find out how long it will take to pay of your credit card loan just by making minimum payments

4) Auto calculators

This calculator will help you choose either low interest finance or a manufacturer’s rebate to finance your car

How much interest can you save by increasing your monthly payment? Find out with this calculator

5) Investment calculators

This calculator will help you determine the value of your stock options for the next 25 years
It will help you calculate the cost associated with buying shares in mutual funds and the prospectus of the fund

6) Retirement savings and planning

This calculator will help you determine your monthly retirement income and find out if your pension is on track

7) Tax calculators

Find out how much tax you need to pay and the impact on changing payrolls

8) Savings calculators

This calculator will help you analyze how you can make consistent investments to accumulate wealth for the future

9) Personal finance

This calculator works like a pocket calculator, helps you analyze your budget, determine your net worth and calculate the present value and future value of the money you have

10) Insurance calculators

Helps you to determine how much life and health insurance you need

11) Business calculators

It helps you calculate the profitability of your company.

Financial calculators help you gain a secure financial future, so why wait, buy one today!!!