Monday, 01 December 2008 06:10
This calculator can give two results:
- How many months it takes before a given amount is saved, or
- how much should be saved during a given number of months in order to have a certain amount at the end.
See the tab How to use
and these two examples:
It is possible to compute a different amount to be saved for each month. It is also possible to enter an different amount to be saved for each month. In addition different amounts to be saved can be computed for every month. Or a different amount can be input for computing the number of months that need to be saved.
See also the two examples for this calculator.
In order to instruct the calculator to compute monthly amounts use the plus button (+) below the text Add month with amount to be computed. A given monthly amount to be saved can be entered with the plus button (+) below the text Add months with given amount.
- Enter the initial and the final amounts.
- Enter the month the computation should start in. This can be the name of a month or a number between 1 and 12. For instance to start saving money in March it is sufficient to enter "3" in the field Start month.
- Enter the interest rate.
- If you want to compute the number of months it takes to save the final amount then leave the field for the number of months empty.
- If you know the number of months and you want to know the monthly amounts you have to save then enter the number of months in the field Number of months.
- Months with a known amount that will be saved can be added with the plus (+) button below the text Add months with given amount. The month can be added in the same way as the initial month: either enter a digit between 1 and 12 or enter the name of the month as text. Instead of adding a single month you can also add all twelve months by clicking the second plus (+) button. In that case enter first the amount at Amount every month.
- After adding the months with known amounts you need to enter these amounts in the new rows below the horizontal line on the page.
- If the monthly savings must be computed then enter the month below the text Add month with amount to be computed and click the plus (+) button next to the month field. Again you can add unknowns for all twelve months by clicking on the last plus (+) button, next to the text Every month.
- After adding the months with unknown amounts you can specify a weight factor for each new month below the horizontal line. These factors specify the ratio's between the monthly amounts to be computed. See also the tuition fee example.
- Months can be deleted from the list by pressing the minus buttons (-).
- You can order the rows with the months, amounts and weight factors by dragging them up or down with the mouse.
- Expressions can be entered in the fields expecting numerical input.
You can save your input to an html file by clicking the button Save input as HTML. In the tab Import from HTML you can load previously saved input into the calculator.