Home > By category > Mobile >Finance > Financial Calculator - Lite

Financial Calculator - Lite

  • Downloads: 
  • Views: 
  • Rating:

Getting a loan? Compute and manipulate the numbers to your advantage.

The interest rate here has a name, it's called the APR (annual percentage rate), this reflects the real time value of money.

Many reputable lenders cheat, they use a method, which prior to 1940, was only used by loan sharks, called the rule of 78's.

The rule of 78s is different way of calculating interest in each payment. This method is called front loading. Meaning you pay more interest at the beginning of the loan than the time value of money would require. Why is this a rip-off?

Here is a thought experiment. If all the first payments are interest and you payoff the loan early, you will pay the full amount you borrowed plus interest that never accrued.

Here is an example: You borrow 10,000 and your payment is $200. Normally based on the time value of money a part of each payment is interest. At first a little over half the payment is interest ($100 approx.) declining over 7 years of the loan to the last payment where the interest component is $0. The reason that the interest cost declines is that as you make payments the amount borrowed becomes less making the interest owed less.

What if the beginning payments were all interest until all the interest was paid after which you started paying off the amount you borrowed? At the end of 3 year you have paid off all the interest now you can start paying of the loan. But what if you now paid off the loan. You would have paid $6,800 interest plus the original $10,000 loan for a total of $16,800 instead of $4,000 interest (based on the time value of money) plus the original $10.000 or $14,000. You would have paid $2,000 extra.

Now the rule of 78’s in not this extreme, but you get the idea.

Mortgage lenders who make long-term loans (20-30 years) are more up-front about it. The charge what are called points up-front, which is really just prepaid interest. Again if you pay off early, you paid too much. They count of this.

When we get married we think it will be forever. For car and house loans people change their mind every 3 to 5 years. For marriages it's a little longer. So avoid the rule of 78’s and up-front “points”. Ask for a amortizing loan based on the time value of money with 0 points.

Double check what the lender tells you. What should the payment be vs. what they quote? What is wrong with their numbers? Let see what they are really doing. Enter the length of the loan, interest rate, and loan amount and compute what the payment should be. Put in their payment, press % to see what interest they are really charging you. This is powerful tool for manipulating the numbers to your advantage.

Buy a house.
PV = 300,000
% = 3.75
N = 30 years
Press Pmt - to see the required monthly payment.

But what if you want a lower payment?

Enter the new payment (Pmt)
Press % - to see the required interest
Press N - to see the see the required years

What if you want to make the payments yearly, press the "Monthly" button several times to get to "Yearly", the payment will recalculate.

The interest rate (%) and years on loan (N) are always yearly/annual numbers.
The Pmt is Yearly, Monthly etc. Depending on the setting.

About the author: Having been a real estate broker for 40 years. I have seen all sorts of slimy lending practices. Armed with a tool like this is your best defense again getting robbed.

Free download from Shareware Connection - Getting a loan? Compute and manipulate the numbers to your advantage.The interest rate here has a name, it's called the APR (annual percentage rate), this reflects the real time value of money. Many reputable lenders cheat, they use a ...

Publisher: David Gray | License: Freeware | Price: 0.00
Version: 1.0 | Size: 1945 KB | Platform: Android 1.x,Android 2.x,Android 3.x,Android 4.4,Android 4.x
Released Date: 27-02-2015 | Rating: 0 | Title: Financial Calculator - Lite

Author Url: http://DavidGRAYsPeopleFinder.com
Program Info Url: http://DavidGRAYsPeopleFinder.com
Download Url: http://DavidGRAYsPeopleFinder.com

More downloads from Financial Calculator - Lite publisher David Gray:

Healthy Color Of Pee - The pale gold pee color tells us that we need to drink more water.Take this to the restroom: Urine is a byproduct of bodily functions. When there is a malfunction it contains clues to the problem. The color of pee can often be a helpful ...

David Gray Project #5 - By the time you reach 75 years old, you will need four times as much light as a 20 year old, in order to see satisfactorilyINCANDESCENT, full spectrum is the most desirable type of light. It can be achieved with energy efficient “T” series ...

David Gray Project #11 - Social Security Number DecoderSocial Security Numbers contain hidden information; where it was issued and the year of issue. Generally in earlier times children received their social security numbers when they turned 16.

FinCalc - LIte - Getting a loan? Compute and manipulate the numbers to your advantage.The interest rate here has a name, it's called the APR (annual percentage rate), this reflects the real time value of money. Many reputable lenders cheat, they use a ...

Financial Calculator - Lite related downloads:

ESBFinCalc Pro - Financial Calculator - ESBFinCalc Pro is a Financial Calculator that aims to provide a sophisticated yet easy to use tool to perform Financial Calculations including Simple Interest, Compound Interest, Investments, Loans, Annuities, Depreciation, Coupon Dates and more.

Financial Calculator - Financial Calculator is a handy and lightweight tool designed to help you determine the simple or the compounding interest.

Gold Calculator Lite - Gold Calculator Lite Computes Gold, in Kilos, Oz, Dwt, grams, and grains to market price.

LoanSpread Financial Calculator - Compare 135 loans at once with LoanSpread Financial Calculator and drill down into a loan summary of any of the 135 you choose. Displays answers of loan amounts, interest rates, terms in months, or payment amounts based upon your loan variables.

MoneyToys Rent or Buy Calculator - MoneyToys Rent or Buy Calculator is designed to give webmasters a simple way to add a rent or buy to a web site offering visitors a financial calculator which helps consider their housing options. Easily added with a few lines of HTML and MoneyToys.

Shareware Connection periodically updates pricing and software information of 'Financial Calculator - Lite' from company source 'David Gray' , so some information may be slightly out-of-date. You should confirm all information before relying on it. Software piracy is theft,  Using 'Financial Calculator - Lite' crack, password, serial numbers, registration codes, key generators is illegal and prevent future development of Financial Calculator - Lite.

New Reviews

Safe In Cloud - It is quite difficult to find any computer users nowadays who do not need to use the web, for any purpose. Whether it is for education or entertainment, the web is your best resource. You also need to use various online services for banking, ...

PictBear - Nowadays, a majority of PC users resort to digital image editing once in a while. It may be required for retouching image captured in smart phones or for creating an album in Facebook. For some people, tinkering with digital images is a pastime ...

CyberGhost VPN - There are so many ways available to browse the web nowadays. You can use a plethora of devices and pick from various service providers to get online. However, tech savvy users resort to additional measures to access the internet without being ...

Skitch - Skitch is a user friendly and lightweight image capturing app for OS X that has been in the scene for quite some time. After its purchase by Evernote, the nifty Mac screen-capture tool has undergone some changes. You can still perform tasks with ...

Quick Crypt - PC users have become more conscious and careful about privacy of their data these days, especially about the data they need to share with others. There are valid reasons for this trend. Instances of personal information theft and attacking are on ...

HotShots - Screen capture software comes in handy in a number of situations, as it is. If you want to show some web content worth your interest to friends or prepare an interactive tutorial, such apps are useful. Needless to say, Windows inbuilt screen shot ...

Portable SMPlayer - Using media player software is something PC users are not alien to, as it is. Even the most workaholic users indulge in listening to music tracks at times. While the WMP, which comes with Windows, may serve needs for some users, it is not ...

Google Drive - In last few years, the popularity and proliferation of Cloud storage and usage has shot up considerably. Everyone, including a teenager to a network administrator is using some type of cloud based data storage. You can opt for both free and paid ...

MusicBee - Irrespective of what type of a PC you use, it will be necessary to use a media player app from time to time. If the WMP is not your cup of tea, you will have to pick from third-party music player apps. The problem with some such apps is that ...

DrawPad Free Graphic Editor - There are so many image editors and drawing apps available nowadays but hardly anything as simple and lightweight as DrawPad Graphics Editor. It is a vector graphics editor. However, it can also work with raster graphics formats.


New Downloads

kApp Revit Architecture
2013 2

This 102 secondary-level kApp
is equivalent to one full day
of classroom training and
provides you with in-depth ...

Memory Cats

Memory Cats is a casual game
that exercises your brain's
short term memory with the
help of musical neon cats!
Just as ...

Dog Barks Sound Shake

Dog Barks Sound Shake is the
best dog sounds app of 2013.
This prank dog game will make
your friends smile for
sure.Shake ...

KWHotel Standard Mobile

Carry your hotel anywhere you
want!Unlimited access to the
booking calendar throughout
the entire world!KWHotel
Standard ...

Neonews Spain

All Spanish newspapers in one
place.La Vanguardia, Sport,
What!, El Mundo Deportivo,
ABC, DNA, AS, La Razon, La Voz
de ...


Kuddle is a free and fun
social media app customized
for children.Enter the world
of social media where you can
share ...

FastCards: Greetings

Wonderful greeting cards. Wish
your friends Merry Christmas,
Happy New Year and Birthday.
Invite or ask for a date! All

Air Quality Today

Local air quality levels...for
your health.Access air quality
measurements directly from the
Environmental Protection ...

Ettalong Beach Tourist

The Ettalong Beach Tourist
Resort App provides valuable
information on Accommodation,
Local Markets, Cinema
showings, ...

PEK: Privacy Enhanced

Comments are appreciated. We
will keep improving PEK. PEK
is a novel context aware
privacy enhancing keyboard for

Speech Therapy Advocate

Real time news aggregator
designed just for SLPs,
educators, and parents of
children with speech and
language therapy ...

List My Apps

Question: Hi, I'm new to
Android. Which apps must I
absolutely have?Answer: Uhm,
give me a minute to pen down
the list ...