![]() ![]() In ten years, if you want to have $1,000,000. ![]() (You can also indicate something different, such as a sum deposited every month.) This indicates that you will be making deposits at the beginning of each year, once a year. Then, tap “Beginning” and scroll to “Annual” in the menu at the bottom of the screen. You can input $100,000 into “Present Value” (what you already have), and $10,000 into “Periodic Deposit” (what you will deposit). Say you have an account with $100,000 and you are adding $10,000 in a lump sum every year. We’ll start with the Rate calculator, which is a great tool for determining what rate you would have to achieve in order to reach a desired financial outcome. Let’s take a closer look at just one way you could use the calculators. Once you begin to really understand how it works, you’ll wonder how you ever went without it! Rate Calculator: What’s the earnings rate? The logic becomes easy to follow, even if you’re not a financial professional. Unlike a simple handheld calculator, the variables never disappear. That means you can input some data into Present Value, hop over to Payments, and your variables will still be filled out. And not only does the information stay saved within that calculator (until cleared), but when you open another calculator, the information from each tab carries over. These tabs will allow you to make side-by-side comparisons of your data. ![]() If you open up any of the calculators, such as Present Value, you’ll notice at the bottom that there are four tabs for Calc 1-Calc 4. The five calculators work and function as a unit. Let’s break down some of these calculators and give you a taste of what’s possible. The app includes financial calculators for: It’s actually “five calculators in one” as you can solve an equation for various factors. Now, let’s see what it does and just a few of the ways you can use it! Using the TC Financial Calculator App It may be the best financial calculators app available… and did we mention it’s free? A huge advantage of the app is that you can use it on the go and you’ll have easy access to it on your smartphone. You’ll have it when you’re buying a car, looking at loan options, or making other big financial decisions. The app is “TC Financial Calculators” and you can find it by either entering that title into the app search bar or using the links at the end of this article. Fortunately, now there is a user-friendly app that puts calculating power right at your fingertips! We use and love the Truth Concepts financial calculators, however, the learning curve and investment is a bit much for the layperson. Truth Concepts can do complex work, such as calculating the internal rate of return of a whole life policy or comparing different types of investments with unequal cash flows. The Truth Concepts software is a suite of tools and calculators that helps advisors compare various financial strategies-such as different investments, loans, rental properties, or tax strategies. My husband, Todd Langford, develops financial calculators that create clarity around personal finance decisions. If so, the free financial calculator app we share today will help you make smarter financial decisions with ease! Or maybe you’ve learned how to use a Texas Instruments or HP financial calculator… but you’d love something simpler. Perhaps you’ve found yourself Googling for an online financial calculator to find the answer to a personal finance question… but the functionality is limited. But you need a financial calculator to figure out how much interest you can expect from your bank CD over time, or how your mortgage payment would change with various interest rates. Most people have a calculator on their smartphone that can add, subtract, multiply and divide. Read this to see what it can do and where you can download it for free!” “Financial Decisions? There’s an app for that! We are super excited to announce the rollout of a user friendly Truth Concepts (TC) calculators app. ![]()
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