Please tell a friend about us. Thank you.

The Ultimate Financial Calculator is the most sophisticated, most flexible calculator on and I think on the entire internet. It works extraordinarily well as both a full featured time value of money calculator and as a loan or mortgage payoff calculator.

See the tutorials below for step-by-step instructions.

If you are someone who needs date accurate results with irregular cash flows (loans, payments, deposits, withdrawals, investments), this is the calculator you should study and use. Questions? Remember, I'm here to help. More below...»

Need a Mortgage Calculator with Support for Taxes, Insurance and PMI?
Check out the Mortgage Payment Calculator with PMI.
It too creates a printable amortization schedule.
Need an Investment Calculator that Takes Into Account Inflation, Taxes and Fees?
Here's an Investment Growth Calculator that does just that.
Idx No Series Date Amount # Periods Frequency End Date Series Options cmpFreq specialSeriesType SpecialSeriesStruct
©2016, all rights reserved
$ : mm/dd/yyyy
  Original Size  

What is Time Value of Money?

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 standard time value of money (Wikipedia) calculations. The above online Ultimate Financial Calculator is capable of performing any of these calculations with regular or irregular amounts as of any date for investment, savings or loan cash flow.

Calculator's Features

Solve for any unknown

  • 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

Any type of calculation method

  • 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

Scheduled (but adjustable) Payment Frequencies

  • 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™

Flexible Reports & Schedules

  • 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 *

Handles any type of cash flow

  • 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

Compounding Frequencies

  • 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

Financial Calculations Step-by-Step Tutorials

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.

  1. Calculate Payment
    • loan or mortgage periodic payment calculation
    • also an introduction to this calculator
  2. Investment Cash Flow
    • calculating final value
  3. Calculate Income From An Investment
    • How to calculate income you can expect from an investment
  4. Adjustable Rate Mortgage or Loan
    • ARM with interest rate changes on any date you desire
  5. Calculate a Loan's Term
    • How to solve for an unknown number of payments
  6. Calculate Loan Amount
    • How much can I borrow?
  7. Balloon Payment Calculation
    • Calculate the balloon amount
  8. Balloon Loan Calculation
    • Calculate the periodic payment required to result in a specified balloon
  9. Random Extra Principal Payment
    • How to prepay principal on any date
  10. Loan with Series of Extra Principal Payments
    • How to calculate loan or mortgage with extra payments
  11. Construction Loan
    • Generally a short term loan with multiple borrows
  12. Monthly Skipped Payments
    • Loan or mortgage with scheduled skipped payments
  13. Odd Length First Period
    • Interest payment options for initial period
  14. Interest Only Loan
    • Initial series of interest only payments
  15. Biweekly Mortgage Payments
    • Pay 1/2 the monthly payment every other week to reduce the total interest paid
  16. US Rule
    • No interest charged on interest — separate tracking of interest balance
  17. How much do I have to save or invest?
    • State your goal - calculate periodic investment amount needed to reach goal
  18. Paying for College
    • You may have longer than you think
    • Multiple investments with multiple, overlapping withdrawals
    • Demonstrates solving for unknown in complex cash flow
  19. Future Value Calculation
    • How to set up simple or complex cash flows to calculate FV
  20. Present Value Calculation
    • How to discount a simple or complex cash flow to find its PV
  21. Calculate PV of Fixed Principal + Interest Loan
    • Calculate PV of the declining payment amount
    • Demonstrates the cash flow analytics of this calculator
  22. Calculate Rate of Return (ROR) on Annuity
    • How to set up an annualized ROR calculation
  23. Calculate Time It Takes to Reach Investment Goal
    • Set a goal and see how long it takes to reach it
  24. Calculate ROI for X Days
    • Exact day return on investment calculation
  25. Calculate Loan Balance — Loan Payoff Calculation
    • Enter payments for any amount on date made — audit balance due

Calculators the Ultimate Financial Calculator Replaces

With this calculator's flexibility you can use it as an exact:

  • loan repayment calculator
  • loan payoff calculator
  • mortgage payoff calculator
  • repayment calculator
  • student loan repayment calculator
  • home loan repayment calculator
  • car loan repayment calculator
  • debt payoff calculator
  • early mortgage payoff calculator
  • debt repayment calculator
  • plus any time value of money (TVM) calculator - even the ones on this site

Tell us how you use the Ultimate Financial Calculator. And naturally, if you have any questions, feel free to ask them below.

99 thoughts on “ultimate-financial-calculator

  1. Hey Karl,

    Just wanted to say Thanks! The attorney for the person doing an owner finance mortgage for me used your site to give me an amortization schedule, and now I have used it to print a schedule for the extra payments I plan to make. The tutorial for setting up the schedule was very easy to follow. I appreciate the use of your site!

  2. Thank you! Is this at all available as an excel template?

    • You’re welcome.

      It’s not. One of the features I’m thinking about adding is the ability to export the schedule to Excel. Would that help?

      In the meantime, it is possible to select the schedule in the print preview and copy/paste to Excel. If you try it, you’ll probably need to do a Paste Special in Excel and paste without the formatting. (Generally works best with IE.)

      • Hi Karl,

        This is a great resource for my financing business. Thank you!

        I had a hard time finding something that accounts for the delay in 1st payment over the loan date.

        If you do a template/export option, it would be even more appreciated.

        Thanks again!


        • Thank you. Setting loan date and first payment date separately is a popular feature.

          I’m thinking about adding an export to Excel feature. But I have a lot of other items on the list to do first. In the meantime, it is possible to copy/paste to Excel (if that’s helpful) from the print preview window. You will most like have to use Excel’s "Paste Special&quote feature without formatting. But each value will be in it’s own cell. From there, you can add back in any formatting you like.

  3. Karl,
    Your amortization schedule is wonderful.
    I am a business law and real estate attorney . I have been practicing for 50 years.
    I just came across your financial calculator web site. Where has it been for the last 50 years?
    Oh yea, computers and software were in their infancy.
    It is now in my “favorites” category.

    Peter Abbo

    • Well, thank you! I appreciate the nice words. As you noted, I wouldn’t have been able to help you out 50 years ago, but I did write my first calculator in March 1983 (for an Apple IIe), and I’ve just not been able to stop. 🙂

      Please tell your colleagues about this site. I could use the traffic for bragging rights.

  4. I tried to use the shortcode for calculator plus so I use it to solve for the interest rate but it had another calculator? Could you tell me what is the correct shortcode?

    • Hi Chris, I see I have an error in the documentation that I need to fix.

      For this plugin FC Loan Calculator Plus, this is the shortcode example:

      [fcloanplusplugin sc_size="medium" sc_custom_style="no" sc_add_link="Yes" sc_brand_name="Your Brand Name Here If Desired" sc_hide_resize="No" sc_loan_amt="31500" sc_n_months="60" sc_rate="5.75" sc_pmt="0.0"]

      This is the minimum:


      Make sure you have downloaded the plugin from the above link (not from what’s in the WordPress Plugin directory).

  5. THANK YOU!!
    Providing this calculator helped me figure out the payments on a current loan I have, had been applied incorrectly (as I suspected).
    I can, now, take my findings and prove to the loan company they owe me a couple thousand dollars – not to mention, my chart shows that my extra payment (when applied properly) shortened my loan payments by one year.
    I can’t thank you enough for providing such a tool for those of us who “know better” but aren’t quite sure how to apply the proper math to get the results we are seeking – God Bless You!!

  6. Karl, I love this calculator and am using it to track my periodic extra principal payments on my mortgage. I noticed that the schedule after applying an extra principal payment doesn’t adjust the “last payment due” date to when you’ve paid the last payment (it should be earlier than the original date) and the “total all payments” shouldn’t include those payments when the balance goes below zero – are you thinking of making these adjustments?

    • Well thank you. I’m rather partial to it too. 😉

      About adjusting the last date, there are several details to understand. First, if you have not expanded the rows, that is, the last row has a value in the "# Periods" greater than one, just set this to "Unknown" after you enter the extra payment and recalculate. The term will be readjusted to reflect your extra payments.

      If you have expanded the rows so that each row represents a single payment, then there is no way for the calculator to reliably drop off the end payment(s). The calculator is designed so users can record individual payments on the dates they are made. If a payment results in an overpayment, then we want the calculator to reflect that with a negative balance. This is why the calculator doesn’t remove single payments, even when fewer payments are needed.

      So probably what you want to do is to add your extra payments and after the last extra payment, add one more row with the regular payment amount and with an unknown number of periods. Calculate and that will give you a nice clean schedule.

      Will that work for you?

  7. Karl,

    Is there a tutorial I can look at to calculate IRR with uneven cashflows? Ideally something that shows how to incorporate additions and withdraws. Thanks

    • Hi Andrew, No, there isn’t one single tutorial for that. However, to calculate the IRR, click on "Settings" and then "Analytics" and check the "IRR" option. This causes the IRR to be calculated and visible on all schedules.

      Read tutorial #1 for an overview of the calculator. Then tutorial #25 discusses irregular cash flow with a mortgage as an example. You can apply the technique to an investment cash flow as well. Let me know if you have questions.

  8. HI Karl, just found the site. Thumbs up for your efforts and passion. Older MBA student in Finance. Thanks again!

  9. Hi Karl,

    Confused as to what I did incorrectly to cause a negative $58.22 to occur the month after a semi annual principal payment. I input 5 interest only payments beginning 10/1/17 and an extra payment for principal only beginning 3/1/18 and continuing every 5 months thereafter. You are correct in saying there should be 60 interest only payments in total. Instead of the $17,000.00 extra payment satisfying principal only, the funds are split for the P&I payment on the schedule . Hoping that made sense.

    I appreciate your assistance!


    • First, just to make sure, under "Settings", "Rounding Options" is it set to "Open Balance"? If not, please select that option.

      Secondly, do you know what payment amounts you want to use, or do you want the calculator to calculate them for you (it can be either)?

      I’ll assume you want the calculator to calculate the payment amounts. I’ll assume you want the P&I semiannual payment to be the same, that is, it won’t drop as the payment drops. However, after each principal payment the 5 interest only payments will decrease since the principal has decreased.

      The pattern is this, and it has to be repeated for each series.

      Row 1, Enter date and loan amount.
      Row 2, Enter for amount "Unknown" and the number of payments (any number you want, but for your stated pattern 5). I’ll assume you are starting with interest only. Click on the right column and select the "Interest Only" option in the pop-up window.

      Click "Calculate". Now you’ll know the amount for the first series of interest payments.

      Row 3, Select payment and enter "Unknown" for the amount and 10 for the number. Nothing to select in the right column.

      Again, click "Calculate" This will be the amount for the principal and interest payments. I think you said you want the loan paid off in 5 years with semiannual principal payments. So this calculates the amount.

      Go back to Row 3 and reset the number now to 1, because you are only making 1 payment.

      Now, Row 4, repeat what you did in Row 2.

      Row 5, select payment again, but INSTEAD OF entering "Unknown" for the payment, enter the amount calculated in row 3 and this time, just enter 1 for the number of payments.

      Repeat row 2 step for the interest only.

      So the calculator will keep calculating the interest and you’ll have a level payment for the principal and interest.

      Does this get you closer? If this still doesn’t get you to where you need to be, tell me what assumptions I’ve made that are wrong.

  10. Thank you very much for your assistance. I was able to get the results I was looking for based on your direction.

Comments, suggestions & questions welcomed...

* Required