Invest or pay any amount. On any date. At any rate.

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Time Value of Money (TVM) is the concept that the value of money itself changes over time. Having a dollar today is worth more than a dollar tomorrow. Solving for present value, future value, amount, interest rate and term are some common time value of money calculations. The above online Ultimate Financial Calculator is capable of performing any of these calculations with regular or irregular amounts on any date for savings or loan cash flows.

- Payment or loan amount
- Deposit or withdrawal
- Yields: APR, APY or IRR
- Balance as of a specific date
- Date a specific balance is reached *
- Present value (PV)
- Future value (FV)
- Balloon payment amount
- Payment required to reach a specific balloon
- Number of payments
- Interest rates - nominal or effective *
- Discounted values
- Remaining balance
- Deposit required

- Normal amortization or investment
- Rule-of-78s
- Canadian methods
- US Rule — simple interest
- Supports 360, 364 and 365 day years
- Exact day or periodic interest calculations

- Daily
- Weekly
- Bi-weekly
- Twice monthly (Half-month)
- Every 4 weeks
- Monthly
- Bi-monthly (every two months)
- Quarterly
- Every 4 months
- Semi-annual
- Annual

* Feature only available in C-Value! ™,

our cash flow calculator for Windows™

- Amortization & investment schedules
- Schedules with details or totals only *
- Custom headers and labels *
- Change fonts, colors *
- Select a fiscal year end *
- Reg. Z APR disclosure report *

- Normal
- Interest only
- Enter your own payment amount
- Negative amortization
- Skipped payments or deposits
- Fixed principal + interest
- Percent step amounts
- Dollar step amounts
- Balloon payments
- Extra payments
- Payments to interest
- Cash flow amounts set to any random date

- Exact day simple
- Daily compounding
- Weekly
- Bi-weekly
- Twice monthly (Half-month)
- Every 4 weeks
- Monthly
- Bi-monthly (every two months)
- Quarterly
- Every 4 months
- Semi-annual
- Annual
- Continuous
- Change the frequency of compounding during a cash flow
- No compounding option when rate changes

The below tutorials walk you through the steps for setting up the indicated financial calculation. I recommend that you right click on a link and select "Open in New Window" so you can have the calculator handy in this window as you read.

- Calculate Payment
- loan or mortgage periodic payment calculation
- also an introduction to this calculator

- Investment Cash Flow
- calculating final value

- Calculate Income From An Investment
- How to calculate income you can expect from an investment

- Adjustable Rate Mortgage or Loan
- ARM with interest rate changes on any date you desire

- Calculate a Loan's Term
- How to solve for an unknown number of payments

- Calculate Loan Amount
- How much can I borrow?

- Balloon Payment Calculation
- Calculate the balloon amount

- Balloon Loan Calculation
- Calculate the periodic payment required to result in a specified balloon

- Random Extra Principal Payment
- How to prepay principal on any date

- Loan with Series of Extra Principal Payments
- How to calculate loan or mortgage with extra payments

- Construction Loan
- Generally a short term loan with multiple borrows

- Monthly Skipped Payments
- Loan or mortgage with scheduled skipped payments

- Odd Length First Period
- Interest payment options for initial period

- Interest Only Loan
- Initial series of interest only payments

- Biweekly Mortgage Payments
- Pay 1/2 the monthly payment every other week to reduce the total interest paid

- US Rule
- No interest charged on interest — separate tracking of interest balance

- How much do I have to save or invest?
- State your goal - calculate periodic investment amount needed to reach goal

- Paying for College
- You may have longer than you think
- Multiple investments with multiple, overlapping withdrawals
- Demonstrates solving for unknown in complex cash flow

- Future Value Calculation
- How to set up simple or complex cash flows to calculate FV

- Present Value Calculation
- How to discount a simple or complex cash flow to find its PV

- Calculate PV of Fixed Principal + Interest Loan
- Calculate PV of the declining payment amount
- Demonstrates the cash flow analytics of this calculator

- Calculate Rate of Return (ROR) on Annuity
- How to set up an annualized ROR calculation

- Calculate Time It Takes to Reach Investment Goal
- Set a goal and see how long it takes to reach it

- Calculate ROI for X Days
- Exact day return on investment calculation

- Calculate Loan Balance — Loan Payoff Calculation
- Enter payments for any amount on date made — audit balance due

Feel free to let me know if you have an idea for an additional tutorial.

Can you tell me how to combine fixed principal & Interest with the monthly skip.

on all our loans, the bank allows us to skip August & September paying only interest.

also, interest may change in year 2 or 3 of a 5 year loan

Hi Lori, sure, be happy to do that.

Let’s just assume you have a loan that matches the way this calculator first loads. If you are trying this before the end of Oct. 2016, the loan date will default to Nov. 1 and the first payment date will default to Dec 1, 2016.

1. Change the 2nd row, the 1st payment to have 8 periods (8 monthly payments Dec – July ’17). Also set the 2nd row to be a fixed principal series (click on the series options and the options window will open). Leave payment amount set to unknown.

2. Click in the 3rd row, and the date will default to Aug. 1 2016. Make this for 2 periods and set this row to an Interest Only series.

3. In the 4th row, the date will default to Oct. 1, 2017, make this for 10 periods and set the series back to Fixed Principal.

4. Basically repeat this for each of the 5 years. 10 months of fixed principal payment followed by 2 interest only payments.

Please let me know if you have any questions.

Thank you so much!

This helps greatly with my projections.

How do you save the calculator so you don’t have to start over. This may be clear as a bell, but I can’t see it.

None of the web calculators allow a user to save their data. This gives me the opportunity to make a plug. 🙂

C-Value! works like this financial calculator and as a few additional features such as the ability to save input. Other details and differences are in the feature list above or a the below link. The price is $19.95 (runs on Windows computers only).

C-Value! at the online store.

One of the plans I have for this website is to figure out how to allow users to save data and to add a few more features. Those enhanced calculators will be available on a subscription basis.

Thank you Karl…

Outstanding calculator, and well worth the money if you have to do more than one complex (or not so complex) calculation. Who wants to build your own spreadsheet, when this complex tool is available for the price of a simple meal!?

Glenn Kautt

MBA, Harvard Business ‘School

Certified Financial Planner

IRS Enrolled Agent

I’ve used this calculator before and it’s awesome! I’ve meddled with spreadsheet solutions for irregular cash flows, but this is exactly what has been missing from online calculators everywhere else.

But, I’m having trouble getting the date picker to display when trying to initialize the calculator for the savings schedule type. Also, the drop down menu for series only works once, and then I’m not able to change it later or use the tab button to go from one field to the next. I’m currently resorting to refreshing the page and trying different combinations of actions until I can get to the date picker. Once that works, everything else will then function as intended.

I’m using Windows 10 and I’ve tried so far with Chrome and Edge. Thank you for your help.

Thank you for these details. You are very thorough!

I rolled out an update to the schedule module late Sunday / early Monday and I see I messed some things up. 🙁

I’ll report back when I have them fixed. Hopefully that will be before the week is out.

Hi Robert, I made an update to the calculator this morning. Notice now when a user switches to a saving cash flow, the calculator is preloaded with example inputs. Since this change, I’m not able to duplicate any of the problems you mentioned. I think what happen was, without a preloaded example, the screen was not getting thoroughly initialized.

One thing about the “series” dropdown. I’m not happy with the way that works. When a user clicks on it, it does not stay open unless the user continues to hole down the mouse button. This dropdown is part of a commercial programmer’s library which, I think, needs to be updated.

Naturally, if you still have any problems, I’m most interested in hearing about them so that they can be fixed.

Hi Karl,

Thanks for the quick update. I’m glad everything was related.

Naturally, I’ve been trying to break the user interface, and I have two observations:

First, if the combination of #Periods and Frequency takes you past 12/31/2099, then the interface breaks. This is problematic especially when you’re trying to change from a longer frequency to a shorter one, and happen to enter the number of periods first.

Second, it seems the #Periods field is either 3 digits or restricted to =1000 periods. I would think the presence of 999 periods could trigger the next series default amount to be calculated (It currently shows up as 0.00).

Please, break away. I’m happy someone is pounding on it. I’ll check #Period issues this weekend

Hi. I just posted another update. Now that I know someone is paying attention, I figured I should get a few things fixed. 🙂

The problem around the combination of # of Periods and frequency going beyond Dec. 31, 2099 is handled more gracefully now. (I had checks before, but they weren’t coded correctly.)

Max number of periods for any single series (row) is 999. I don’t understand exactly your point about if there are 999 periods, the next series being triggered automatically. Would you like to see the next row filled in? It will fill in if you tap the down arrow after entering the number of periods.

The select boxes for Series and Payment Frequency now work correctly. They stay open after the click.

I made a few other changes also with respect to the messages. I few more hints/tips will pop-up on error conditions. Hope they are not too obnoxious.

Printing was not working in Firefox. Fixed.

I need help tracking loan payments based on percentage of monthly sales, fixed interest rate, balloon payment at 60 months. So monthly payment amounts will vary. Do you have a calculator that will work for me?

I assume you’ll calculate what the payment will be since the payment amount is not based on any of the loan details (loan amount, interest rate, term etc) but rather on an unrelated number (pct of sales)? If so, you can use this calculator. See the tutorials on this page. Everyone should read tutorial #1 to get an overview of how the calculator works. Then, for your specific case, you should look at the balloon payment tutorials (#7 & #8) and the loan payment tutorial (#25).

Also, i’ll give a plug for one of my Windows programs. If you want to save your work as you enter the payments, the C-Value! program is the Windows version of this calculator. It costs $19.95 and you’ll be able to save the loan details to disk and reload them later to edit or add new payments.

Hi Karl,

I’m trying to determine the imputed interest rate of a present lump sum payment vs. a lifetime annuity beginning at a future date. We have an offer from my wife’s former employer to accept a lump sum payment now or an annuity at age 65.

Can this calculator perform this calculation? If so how would I set it up?

Thank you!

Yes.

But, it’s not the interest rate that you need to know. To determine which offer to accept, you should calculate the present value of the stream of future payments. Use for an interest rate (discount rate), the rate of return that you think you can earn on your money. If the present value of the annuity is greater than the lump sum, then you’ll probably want to accept the annuity (except there is no allowance for RISK in this analysis).

See the present value tutorial for details in the list above (#21).

Calculate PV of the declining payment amount

Demonstrates the cash flow analytics of this calculator

If it is the rate of return you want to know on the annuity, then please see this tutorial (#22):

Calculate Rate of Return (ROR) on Annuity

How to set up an annualized ROR calculation

Everyone should look at tutorial #1 to get started.

Indeed a sophistcal calculator for people who know the details .Mr. and Mrs. Smith don’t know anything of it. In Europe a bank must tell the Effective Annual Interest Rate. I miss this term as setting for calculation or as a result.

Thanks for the comment. I can look into adding an effective annual rate calculation – my C-Value! program for WIndows, which this calculator is based on, has that rate calculation. It would not be so difficult to add it to this calculator. The thing is, there are a lot of to-do item ahead of it.

Hi Karl, I just found your site. Do you have a calculator that will work for dividend reinvestment?

Hi Hans, what about dividend reinvestment do you want to know? Do you want to know the internal rate of return on an investment including with dividends reinvested? If so, you can use this calculator for that. Look at the list of tutorials above and check this one out:

That should get you started. If not, then let me know what you are trying to calculate.

Hi Karl,

This is a very powerful program, and I look forward to utilizing it for future calculations.

I was curious if there was a way to calculate the effect of an extra payment of the next principal amount in the schedule of the loan. Effectively, this turns a 30 year loan into a 15 year loan.

Hi Maurice, I’ve been thinking about your question. Unfortunately, there is not an automated way to do this. The only way would be to run the normal schedule and then to manually had the extra payments for the next period’s principal amount.

I’ll have to give this some thought how this could be added as a feature.

Glad you found the calculator “powerful”.

Hi Karl. Your calculator is amazing. So much more powerful than any other tool out there (aside from building your own in a spreadsheet). Can you provide instruction on amortizing a loan over a greater number of years than payments are due with a final balloon? For example, a loan amortized over 10 years, but with normal payments of principal and interest due for 59 periods, with a balloon due in month 60?

Thanks Joe. I appreciate that. Please make sure to tell your friends and colleagues about this site.

If you scroll further down the page there is a list of 25 tutorials. Everyone should check out tutorial #1 to get an overview about the calculator’s features. Then, there are two the deal specifically with balloon loans. You didn’t mention whether the periodic regular payment amount is the unknown or the balloon amount is the unknown in your case – the calculator will handle either:

Hello!

First I want to say thank you so much for this! I was going crazy trying to figure out how to calculate an amortization schedule for a loan with random additional payments. I was so happy when I came across this site!

Now here is where I need some help. I was wondering if you could give me any pointers on how to use this to calculate student loans– interest and repayments. I have several variables that I’m having difficulty figuring out how to account for. For instance, I have a few unsubsidized loans from 2009-10 that I made some payments on in 2012, then I went back to school and deferred my loans. I started payments again in 2015 but am back in school full time now which has deferred them again. In addition, I received a 0.25% interest rate reduction for the majority of those payment because I signed up for their direct debit. However, that reduction is not applied when I am in deferment. Do you have recommendations as to how I can input these things? I appreciate any assistance!

Also, I tried to purchase SolveIT! but my browser says the security certificate is out of date, is there an alternative site to purchase that software? Thanks!

You’re welcome.

As to your question, for tracking the balance of a loan, please see this tutorial:

After you go through the above, if you have any questions, please ask.

This is the only loan calculator I have been able to find online that I can input specific payment dates. My concern is that the interest portion of the payment does not consistently go down. The amount bounces around. Here is an example in year 2:

Month 1=$809.32

Month 2=$806.04

Month 3=$725.06

Month 4=$799.11

Month 5=$770.12

Month 6=$792.34

The payments were all made on time, on the first of the month.

It looks as if you have selected either “Exact/Simple” or “Daily” compounding. These 2 compounding options calculate interest based on the exact days between the payments. Further, it looks as if month 3 is February. If that’s the case, then see that month 4’s interest or March (31 days) is less then January, also 31 days.

If you don’t want this, then switch to a periodic interest method. For periods such as monthly compounding, all months are the same length i.e. 1/12 of a year. Then you’ll see interest constantly declining – assuming as you noted, payments are made on time.

Thanks for the question.

I can’t seem to figure this out. I need a payoff amount. The loan was for $35000. to be paid in 10 annual installments of $3500 each. First payment was due on 12/31/2002. The loan was interest free if all payments were made on time. Did not happen. “In the event any payment is not made when due, interest shall accrue on that particular annual payment at the rate of six percent (6%) per annum until payment is made”

1st payment due 12/31/02 received on 4/5/2013

2nd payment due 12/31/03 received on 12/9/2013

3rd payment due 12/31/04 received on 1/5/2015

4th payment due 12/31/05 received on 12/19/2015

5th payment due 12/31/06 received on 11/16/2016

6th payment due 12/31/07

7th payment due 12/31/08

8th payment due 12/31/09

9th payment due 12/31/10

10th payment due 12/31/11

11th payment due 12/31/12

They want to pay it off before March 2016

I don’t want to get involved in interpreting the terms of this loan – what is meant by “interest shall accrue on that particular annual payment”? Normally, interest accrues on a balance, not a payment. With that said though, it seems to me, that since no payment was paid on time, you have a traditional loan here. That is one that is always accruing interest.

Did you see tutorial #25 below?

Everyone should take a look at tutorial #1 to understand the basics of the calculator. Then the one above should apply directly to the calculation you want to do. Please take a look at it and then if you have any other questions, just ask.