Finance Calculator Plus

Finance Calculator Plus include 3 common use finance calculator:

• Millionaire Calculator
Calculate when you will become a millionaire.

Use this calculator to see what it takes to reach a million dollars and reach your goal to be a millionaire. Factors include your current saving, monthly deposits, rate of return and current age.


• Bond Yield Calculator
Calculate the current yield and yield to maturity on a bond.
* A bond's yield to maturity (YTM) is the internal rate of return required for the present value of all the future cash flows of the bond (face value and coupon payments) to equal the current bond price. YTM assumes that all coupon payments are reinvested at a yield equal to the YTM and that the bond is held to maturity.

Formula:
Current Bond Yield = BPV / CBP * CR

Bond Yield to Maturity formula:
Bond Yield to Maturity = ([BPV * (CR / 100)] + [(BPV - CBP) / YUM]) / [(CBP + BPV) / 2] * 100

Where:
BPV - Bond Par Value
CBP - Current Bond Price
CR - Coupon Rate
YUM - Years Until Maturity

If YTM is greater than the current yield, which in turn is greater than the coupon rate. This will always be true for a bond selling at a discount. In fact, you will always have this:

Bond Selling At  	Satisfies This Condition
[Discount]	Coupon Rate less than Current Yield  less than YTM
[Premium]	Coupon Rate more than Current Yield more than YTM
[Par Value]	Coupon Rate equal Current Yield equal YTM


• Mortgage Calculator
Simply enter the amount you wish to borrow, the term over which you intend to pay it off and the interest rate.
* A mortgage loan, also referred to as a mortgage, is used by purchasers of real property to raise funds to buy real estate
You can think of a mortgage as either building up equity or paying off debt. Although the payments are all equal, equity doesn't build up at a constant rate: that's because at the beginning the debt is still high, so most of the payments are paying interest; toward the end, the remaining debt is small so very little of the payment goes toward interest.

Mortgage Formula:
M = [ L(1 + r)^Y x r ] / [ (1 + r)^Y - 1 ]

M - Monthly repayment
Y - Years
L - Initial loan amount
r - Loan interest rate

Mortgage Example:
If you take out a 20 year mortgage for $100,000 at 5% interest, and to calculate the monthly payments. 
Just divide the interest rate by 12 to get (.05/12) = .004166; and multiply 20 x 12 = 240 to get the number of payments. Then fill up the formula gives you:

Monthly payment = [$100,000(1 + .004166)^240 x .004166] / [(1 + .004166)^240 - 1]
= $659


Easy to use and suit any person who cares for their money.

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