![]() ![]() The AARP retirement calculator allows you to input multiple variables for various retirement planning scenarios, incorporating everything from current and future savings to estimated Social Security and supplemental income benefits in the future. By inputting a regular monthly contribution amount and an expected rate of return, you can estimate how much money you’ll have socked away by the time you retire. ![]() As such, it can be one of the more exciting tools available. Retirement/401(k) Plan Savings CalculatorĪ retirement/401(k) plan savings calculator can show you in black and white how the power of compounding works. Pros: Simple to use for nearly any type of loanĬheck Out: 10 Best Personal Loans for People With Good Credit You can also add in additional costs, such as origination fees, if applicable. This example from Merrill Edge asks for your loan amount, payment frequency, stated interest rate and term length to calculate your monthly payment. You can use a generic loan calculator for personal loans, credit cards or any other type of simple loan. Pros: Has a wide range of reports and graphics to highlight user inputsĬons: Loan options that are usable in the calculator are limited to 30-year fixed, 15-year fixed and 5/1 adjustable-rate mortgagesĪ generic loan payment calculator is probably the simplest and most wide-reaching type of financial calculator. When calculating a mortgage payment, you’ll have to factor in a down payment, mortgage insurance, property taxes, homeowners insurance and other fees in addition to the price of your home and the interest rate on the loan. The Zillow mortgage calculator offers a sleek interface that allows you to input all of the variables of your mortgage loan to compute a single monthly payment amount. How To Build Your Own Financial Calculator.Retirement/401(k) Plan Savings Calculator.If you just need some simple help and aren’t looking to build a comprehensive financial plan, these calculators can help get you started: Here’s a look at eight specialized types of online financial calculators that you can use for specific financial computations, along with an explanation of how you can build your own calculator for your particular needs. Even somewhat difficult computations like mortgage interest can be performed with just a few keystrokes. With a quick online search, now everyone has the ability to pull up a free financial calculator to do the heavy lifting. Gone are the days when brokers or lenders were the only ones who could compute your loan interest. The internet can be a powerful source of information, particularly when it comes to understanding financial transactions. ![]()
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