Financial Solutions by Devoe Technologies, LLC
Financial Solutions is a Time Value of Money program with the most commonly used equations for financial calculations.
The application has 11 Equations:
•Future Value of an Investment
•Future Value of Deposits
•Regular Deposits
•Regular Withdrawals
•Initial Investment
•Minimum Investment
•Regular Payment on a Loan
•Principal on a Loan
•Term of a Loan
•Nominal Interest Rate
•Effective Interest Rate
If you wanted to determine your monthly payment for a car costing $19,000.00, you would use the Regular Payment equation.
Entering the data:
Principle: $19,000.00 (cost of the car)
Interest Rate: 5%
Payments per year: 12
Number of years: 5
Payment: $358.55
You and your wife are expecting and you want to set up a budget to determine how much money you would need to save every month over the next 18 years to yield $60,000.00 for your childs education. Using the Regular Deposits equations you enter:
Future Value: $60,000.00 (assume cost in 18 years)
Nominal Interest Rate: 1.5%
Deposits Per Year: 12
Number of Years: 18
Deposits: $242.13