Loan Amortization Calculator

Here is a nice calculator from Bankrate.com on calculating loan payments and amortizations. As I wrote before in Personal Finance Math, an equation that one should know is for loan amortization. For those that prefer not to work with the math, this calculator can provide the following:

Monthly payments, with interest and principal breakouts.

The impact of increasing monthly payments or making regular payments to reduce principal.

Enjoy!

For more on The Practice of Personal Finance , check back every Wednesday Thursday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2008 Achievement Catalyst, LLC

Compound Interest Calculator

Here is a nice compound interest calculator from MSN.com on estimating one's savings in the future. As I wrote before in Personal Finance Math, an equation that one should know is compound interest. For those that prefer not to work with the math, this calculator can provide the following:

Future value of regular savings

Time to reach a savings goal

Amount of periodic savings need to reach a goal

Enjoy.

For more on The Practice of Personal Finance, check back every Wednesday for a new segment.

This is not financial advice. Please consult a professional advisor.

Copyright © 2008 Achievement Catalyst, LLC