Loan and Mortage

The Finance calculator has equations for loans, investments and other related tools and calculations.

Description

This calculator is a grouping of commonly used finance related equations.  They use basic math principles to calculate payments on loans and mortgages, present and future value of assets based on fixed rates of returns and comparison tools for evaluating the different effects of time and interest rates on the value of the investments.

Audience Analysis

These calculators are intended for people who have take a loan and/or mortgaged their house and are planning for the repayment. They have an idea of interests and have  basic understanding of loans and mortgages. They are comfortable using VCalc software and with basic mathematical computation to verify the calculations and check for any errors in computing,

Purpose

The Calculator will help:

1. Plan for the the future

2. Reduce liability

3.Make timely payments

Instructions

1. On the right hand side click on any of  the equations listed e.g., Loan 

2. Proceed to input the values directed

3. Take note of the output given

4. Click the x button to close the calculator 

5. Proceed to another calculator or exit

Key Terms

1. Loan Amount

This is the total amount of money that was borrowed

2. Interest Rate

This is the percentage charged on the loan borrowed 

3. Duration

This is the time it takes to pay back the loan

Figure 1: Loan Payment

Figure 2: Future Investment Value Formula