FinCalc is useful for the following types of calculations:
A) Calculations with saving.
If you are saving 1000 USD per month, and depositing it into a bank, and if the yearly interest is 7 % p.a., how much money will you have after five years (sixty months)? Or how long do you have to save money to have a million dollars?
B) Calculations with crediting.
You want to take out a mortgage for a million dollars, which is payable by monthly annuity over a period of 20 years (240 months). The yearly interest is 8 % p.a. . How much money will you pay monthly? Or how heavy of a mortgage can you take out, if you can pay 10,000 dollars a month toward the mortgage?
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