FinCalc

The FinCalc program can be used for the following types of calculations:

• Calculations related to compounding.
  If we deposit 1000 kc each month in a savings account that bears interest at 7% per annum, how much will we have saved after five years (i.e. after 60 months)? Or how long will it take to save 1 million kroner?
• Calculations related to loans.
  We would like to take a mortgage loan of 1 million crowns with a repayment period of 20 years (i.e. 240 months). The interest rate required by the bank is 8% per annum. How much will the monthly annuity be (i.e. how much will the repayment be per month)? Or how big can we take a loan so that at the above interest rate and repayment period, the monthly repayment will be 10,000 kc?