All-in-one financial calculator with multiple tools for loans, investments, mortgages, and more.
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $1,585.12 | $500.00 | $8,414.88 |
| 2 | $1,664.38 | $420.74 | $6,750.50 |
| 3 | $1,747.60 | $337.52 | $5,002.90 |
| 4 | $1,834.98 | $250.14 | $3,167.92 |
| 5 | $1,926.73 | $158.39 | $1,241.19 |
| Year | Principal | Interest | Total |
|---|---|---|---|
| 1 | $5,000 | $256.36 | $5,256.36 |
| 2 | $5,000 | $527.18 | $5,527.18 |
| 3 | $5,000 | $813.24 | $5,813.24 |
| 4 | $5,000 | $1,115.34 | $6,115.34 |
| 5 | $5,000 | $1,434.30 | $6,434.30 |
Our comprehensive finance calculator provides multiple tools to help you make informed financial decisions. Whether you're planning for a loan, investment, or retirement, these calculators can help you understand the numbers behind your financial decisions.
The loan calculator helps you determine your monthly payments, total interest paid, and the total cost of a loan. It's useful for car loans, personal loans, student loans, and other types of installment loans.
Compound interest is the interest calculated on the initial principal and also on the accumulated interest of previous periods. This calculator shows how your investments can grow over time through the power of compounding.
Q: What is the difference between simple interest and compound interest?
A: Simple interest is calculated only on the principal amount, while compound interest is calculated on the principal plus accumulated interest.
Q: How does loan term affect my monthly payments?
A: A longer loan term typically results in lower monthly payments but higher total interest paid over the life of the loan.
Q: What is APR?
A: APR (Annual Percentage Rate) represents the yearly cost of borrowing money, including interest and fees.
Q: How often should I check my financial plan?
A: It's recommended to review your financial plan at least annually or when you experience major life changes.