9/22/2023 0 Comments Ultimate financial calculatorIf you are borrowing money and the bank gives you the money on March, 1 2023, then you would enter "03012023" or use the calendar to set the date. It is sometimes known as the origination date. This date, called the loan date, is the date the monies become available. For the first row, set the "Series" to "Loan". Click on the first row of the cash flow area.10 - a loan calculation with an unknown payment amount (type "u") A row will represent only one type of cash flow as indicated in the "Series" columnįig.A cash flow maybe a series of loans, payments or xtra payments (extra payments) when "Schedule Type" is a "Loan".Each row in the table may represent one or more cash flows as indicated by the number in the "# Periods" column."Monthly" compounding is most typically used. All rates are entered as a percentage (not as decimal equivalents). 9 set initial interest rate - it can later be changed in the cash flow Both interest rate and compounding can be changed on later dates (see tutorial #4)įig.Set initial values for your loan in the header area.Clear does not empty the grid area completely.Clear prior inputs by clicking the button on the calculator's button bar.8 interest options dialog for initial long and short periods 7 Interest options for initial odd length period Fig. If you are not getting the results you expect, check these settings. These interest options impact the interest calculation for initial, irregular length periods. For example, the loan originates on February 25th, and the first payment is due on April 1st when the normal payment frequency is monthly. The time between the loan date and the first payment date may not be the same as the regular payment frequency (often monthly).Select "360 / 365" from the drop down menu Fig.It has no impact on interest calculations when compounding is not based on a day unit and there are no odd days in the interest periodįig.This setting impacts odd days' interest calculations as well as exact day simple interest and daily compounding.Make sure the setting is accepted by clicking "Save change" to close Fig.Select "Rounding Options" from the drop down menu Fig.4 showing the available final cash flow rounding options The "Open Balance" option leaves the balance unadjusted so you can see the rounding "error" or so you can enter individual amounts and track a "running balance." The other two options adjust the cash flow so that the final balance is zero.įig. If the last cash flow is not rounded (adjusted), the balance will usually not work out to be exactly zero. Most loan and withdrawal schedules need some adjustment to the final cash flow amount.Set "Rounding" to "Adjust last amount to reach '0' balance".For "Calculate Method" select "Normal".In the header section, for "Schedule Type" select "Loan".2 header section showing most common selection for loan cash flows You should make particular note of "Rounding Options" and "Interest Options".įig. If you are not getting the results you expect, most likely the problem is due to the way one of these options are set. Confirm settings are set for a conventional loan:.Note: Dates in all examples are shown using the US convention of MM/DD/YYYY.Īll calculators on this site also support DD/MM/YYYY & YYYY-MM-DD formats. 1 - Ultimate Financial Calculator Main Window Otherwise you may get results other than those shown. We go into extra detail in this one example to introduce you to (1) the options that are available and (2) to confirm that they are set the way we expect them to be. Many steps described are not required to setup a calculation. Initially, there may seem to be an excessive number of steps required to solve a simple problem. We recommend that all users work through this tutorial first. This guide is the first of twenty-five tutorials that will teach you how to get the most from this calculator. The Ultimate Financial Calculator ( UFC) is the most flexible of all the financial calculators on this site (Fig. Calculate payment amount for a mortgage or conventional loan with regularly scheduled payment periods.
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