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amortization, accruing interest sites.. needs a calculator

D

Dave from MN

Well-known Member
OK, I was wondering if any one knows of any free legit sites where a person can calculate accumulations interest, like on a saving acct or a loan, etc. Kind of like an ammortization schedule. This is mostly needed for accounts owed to myself that I will be charging interest, and also to assist me in having a plan to aggressively pay off my debts owed.
 
Any decent spreadsheet program, such as Excel or OpenOffice Calc, will have all the financial functions you need. Use the "PMT" function to determine loan payments.

Personally I still prefer the books of amortization tables. It's very satisfying to run your finger down the rows and columns.
 
Just for the heck of it, have you ever heard of the magic number of 72?

If you take any intrest rate and divide the magic number of 72 by this intrest rate, it will tell you the time when your money doubles

Example --72 divided by 10% equals 7.2 years when you must pay double the original loan amount.

I use this very often when dealing with young kids wanting to borrow money for something they perhaps could live without.
 
I've always liked MS Works. If you scroll through the business functions you come to loan amortization. It shows a blank loan contract and you just punch in the numbers. It shows the principle and interest for each payment.
 
Decades ago I picked up a book (at K-Mart) for about $6 that has those tables and more. Still use it occasionally. Might not be PC, but the numbers don't change. Instant lookup, faster than a computer.
 
Dave if you have a copy of excel there are some very good tools on the microsft website for doing financial calculations.

I'll leave my email open if you want me to send you a link.
 
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