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The Personal Finance calculator includes the top equations you should know based on Business Insider article titled 11 Personal Finance Equations You Need to Know.1 This calculator answers questions like, "How much will my monthly payment be on a mortgage?", and "How long will it take to pay off a credit card?"
Personal Finance Calculators
- Monthly Loan Payment - computes the monthly payment of a fixed interest rate loan (e.g., home mortgage or car loan).
- Credit Card Equation- computes the number of months to pay off a credit card.
- Mortgage Affordability: - compute the amount of principal one can borrow based on monthly payment, duration and interest rate.
- Leverage Ratio- calculates a ratio describing debt to income.
- Compound Interest- computes the compounded interest on a fixed interest rate investment
- CAGR- computes the compounded annual growth rate achieved on an investment.
- Rule of 72- provides a quick estimate on time to double an investment
- Simple Interest Earned- a rough estimate on interest earned over time.
- Wage Calculator - Computes the annual, monthly and weekly pay amounts base on hourly wage and hours per week.
- Current Mortgage Rates:
- 30 Year Fixed Interest Rate: 6.62 %
- 15 Year Fixed Interest Rate: 6.15 %
- 7/6 SOFR ARM: 6.57 %
Usage
Managing one's personal finances requires the monitoring of metrics like ones enclosed here on a regular basis.
Financial Calculators
Also consider the following finance and accounting equations and calculators:
- Net Cash flow from Operation
- Current Ratio or Liquidity Ratio
- Capital Recovery Factor
- Annual Percentage Yield
- Simple interest Earned
- Debt to Equity Ratio
- Compound interest Future Value
- Personal Finace
- Microeconomics Calculator
- Annualized Amortization
- Credit Card Equation
- Leverage Ratio
- Cash Flow
- Compound Interest
- CAGR
- Present Value
- Future Value
- Rule of 72
- Simple Interest Earned
See Also
- Accounting Ratios - Business Accounting ratios
- Black-Scholes - Stock call/put equation
External Links
- ^ Business Insider: 11 Personal Finance Equations You Need to Know.