Product DescriptionIf you need to keep up with your fast-paced business courses while working and planning for your career, invest in the HP 10BII business calculator. Featuring over 100 built-in functions for business, finance, mathematics, and statistics, the 10BII is an ideal calculator for business students who want to get ahead. Easily calculate loan payments, interest rates, amortization, discounted cash-flow analyses, TVM (loans, savings, and leasing), and more. Statistical analysis is cumulative, and you can figure standard deviation, mean, and weighted mean in addition to forecasts and the correlation coefficient. Cash-flow analysis is register based and has 15 functions.

The HP 10BII business calculator has an algebraic entry system and a logical and intuitive keyboard layout with easy-to-read labels. The LCD screen features up to 12 characters on one line of text. Small and sturdy, this calculator is easy to slip into your backpack or briefcase and bring to class or your workplace.

HP offers a one-year warranty on the 10BII.

What’s in the Box
Calculator, user’s manual, installed batteries, and carrying case

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I am near the end of my mortgage, and all the mortgage calculators I can find are for people at the BEGINNING of their mortgage. I want one where I can enter the balance left on the mortgage and the interest rate and the fact the payments are once a month, and that should be all the data needed.

can someone save me from having to figure out how to use a spreadsheet again or doing this by hand?

thanks!

Ps if you don’t understand what I am asking, don’t answer, because there are many mortgage calculators that do not work for my needs.
No, the bankrate calculator will not work, it doesn’t ask what balance is left on my mortgage. I have consistently paid more than the minimum.

Below is a link that might help. It’s intended as a way to prioritize multiple debts, but you can just enter the one: current balance, interest rate, monthly payment. On the second tab, there’s a spot to enter additional payments going forward. Just like any other calculator, it will not be exact so check with your lender before making a final payment, but hopefully it will help

Speeding up the debt repayment process is called an accelerated debt payoff and that’s something every person who owes money should know about. It’s a way to get out of debt faster and easier.

It doesn’t matter whether all the debt you have is in your mortgage, or whether you have lines of credit or credit card debt, you can use an accelerated debt payoff plan to shorten the amount of time you spend paying your debt, and more importantly, you will spend less money servicing your debt, too.

Here’s how it works. You make your regular payments when servicing your debt and then you add additional funds to that debt every month to save interest and pay it off more quickly. This can save you thousands of dollars.

If you’re talking about accelerated debt payoff for your mortgage, things can get a little tricky. Some mortgages don’t allow for you to make lump sum payments, increase your payments or stipulate that you can only pay up to a certain amount at certain times over the course of the mortgage. If you want to pay off your mortgage faster, talk to your financial institution to see if you can work around the fine print.

If you don’t have a lot of debt, such as one credit card or a line of credit, you can do an accelerated debt payoff very easily. Just pay your minimum payment and then add extra money to that payment each month.

If you have multiple creditors, you should consider consolidating your debt. In this way, you can access a lower interest rate and lower monthly payments. This will give you cash-in-hand every month, which you can turn around and add to your payment schedule. That means you are saving more in interest and paying off more of the money you actually owe your creditors, not just the future interest.

If you don’t want to consolidate your debt, or can’t consolidate your debt, you can still do an accelerated debt payoff. Simply analyze your debt situation. See which creditor charges the highest interest and start by adding the extra payments to that debt until it is eliminated. Then move on to the next highest interest rate. Continue in this way until you are debt-free. And don’t forget to make the minimum payments to the other creditors in the meantime.

To determine how much extra money you can put toward an accelerated debt payoff subtract all of your anticipated expenses from all of your anticipated earnings. Don’t forget to include money for entertainment or other fun outings. Then you will know how much extra money you have each month that can be contributed toward debt. Usually this extra money is spent frivolously without a second thought. It is a very good idea to put this money to good use.

To find out how much money an accelerated debt payoff can save you, search for an “accelerated debt payoff calculator” on the Internet. It will help you determine how much you stand to save by adding more money to your payments.

Kathy Burns-millyard
http://www.articlesbase.com/finance-articles/learning-how-to-accelerate-your-debt-payment-55033.html

Buying your first home can be a time of many questions. For example, how do you even get started?

The steps to buying a home are simple. If you take the time, you will find the process faster and less stressful. The key is to avoid jumping into something you aren’t ready for yet. Preparation is the key.

The first step is to get your personal finances in order. You need to know how much you can afford to spend. Take the time to prepare a budget, if you don’t already have one. When figuring how much you can afford to spend on housing, don’t forget the additional costs that come with ownership. You won’t simply have a mortgage payment, you will have property taxes, homeowner’s insurance, repair and maintenance costs and the possibility of PMI.

A good indicator of how much you can afford is your current rent payment. If you already have trouble making ends meet each month, you probably can’t afford any higher a monthly mortgage payment than your rent currently is. Take your monthly amount and enter it into an online calculator to show you what the overall mortgage you can afford is.

Once you have an idea of how much you can spend, take the time to look over your credit report. Almost everyone is guaranteed to have a mistake on their report at one time or another. In just ten years, I have found two on mine. Check your report early enough to be able to correct any mistakes. Contrary to popular belief, checking your own credit report will not raise your credit score.

But having too many lenders pull your report will, so don’t apply for a mortgage with every lender you are considering. Go ahead and spend the money and find out what your credit score is. The lender will most likely be reported a score close to what you find on the internet — they can range up to 50 points in difference. It is a good idea to know what your credit score is, so that you know where you stand as a borrower.

Next, research the type of mortgage you want. The best mortgage decision for any borrower is a 15-year, fixed-rate mortgage with at least 20% downpayment. I realize that this is hard to conform to. So bare bones, you need to have at least a fixed-rate mortgage and as large a downpayment as possible. This is the most sound financial choice for most borrowers. However, there are some advantages to other mortgage options, so be sure that you do your research.

When you finances are in order, now is the time to shop for a lender. Ask your friends, family and coworkers for recommendations. Make sure your list includes local and national lenders, though keep in mind the differences that may be seen in service. Ask each of the lenders on your list for a rate quote on the type of mortgage you want. You should expect them to all be in the same ballpark. Beware of those that are way under the rest, they may not be the same in terms.

The key to buying a home is in proper preparation. Once you have found the lender that fits your financial needs, go ahead and become pre-approved for your mortgage. Then you are ready for the next step — finding the house of your dreams.

Martin Lukac
http://www.articlesbase.com/real-estate-articles/the-finances-of-your-first-home-purchase-83458.html

Hi, Im looking for a mortgage calculator that allows you to enter, Mortgage amounts, Interest rates, Down Payments, Insurance Rates, Taxes, etc… Or even better a calculator that helps you organize or predict what your monthly living costs will be…?

you can use bankrate it is a great website with many loan calculators and general finance info.

Albert Einstein said that compound interest is the greatest mathematical discovery of all time. He discovered the Rule of 72. You may have heard of this term. What is it exactly? The Rule of 72 allows you to calculate how long it will take your money to double at a certain interest rate. This is important to know because you are making money from the interest making interest. This is how it works.

Let’s say you put $25,000 in a fund that earns you 9% per year and that’s all you did. You just left the money in the fund and forgot about it. How long would it take for that $25,000 to double? Through the miracle of compound interest, it would take 8 years for that $25,000 to grow to $50,000.

Rule of 72. Take the 72 and divide it by the interest rate. In this example, take 72 and divide by 9 which equals 8. Let’s do the calculation the long way. Take a pen or pencil and a calculator and follow along on a note pad. See the results for yourself in your own handwriting. It is a far more powerful experience for you to write out the calculations for yourself than to just look at the numbers and take my word for it.

Year 0: Deposit: $25,000 in fund * 9% = $2,250

Year 1: ($25,000.00 + $2,250.00) * 9% = $2,452.50

Year 2: ($27,250.00 + $2,452.50) * 9% = $2,673.23

Year 3: ($29,702.50 + $2,673.23) * 9% = $2,913.82

Year 4: ($32,375.73 + $2,913.82) * 9% = $3,176.06

Year 5: ($35,289.55 + $3,176.06) * 9% = $3,461.90

Year 6: ($38,465.61 + $3,461.90) * 9% = $3,773.48

Year 7: ($41,927.51 + $3,773.48) * 9% = $4,113.09

Year 8: ($45,700.99 + $4,113.09)

Balance: $49,814.08

Voila! Your money has almost doubled in value through the magic of compound interest. Okay, so this may not be earth-shattering news or ringing any bells if your interest rate is at 4%. 72 divided by 4 is 18 years to double your money. Do you want to wait that long to double your money? Not me. When you put your money in the bank, the bank in turn takes your money and invests it. They make 20%, 50%, 100% or more because they have the fund managers who know how to leverage risk for higher gains. Meanwhile they guarantee you a safe 4% return. We can’t all be banks. However, there is a faster way –  through real estate.

For simplicity and for side-by-side comparison purposes, let’s say you used that same $25,000 as a down payment towards a $100,000 house. It appreciates 9%. In Year 1, your house would be worth $109,000.

Year 0: Down Payment: $25,000 for $100,000 house * 9% = $9,000

Year 1: $109,000.00 * 9% = $9,810.00

Year 2: $118,810.00 * 9% = $10,692.90

Year 3: $129,502.90 * 9% = $11,655.26

Year 4: $141,158.16 * 9% = $12,704.23

Year 5: $153,862.39 * 9% = $13,847.62

Year 6: $167.710.01 * 9% = $15,093.90

Year 7: $182.803.91 * 9% = $16,452.35

Year 8: $199,256.26

Eureka! I think you more than doubled your money in 8 years. To calculate the return on investment, take the value of the house at $199,256.26 and subtract the $25,000 cash down payment and the $75,000 mortgage and you get $99,256.26. Divide $99,256.26 by your $25,000 and you get a $397.03% total rate of return. Divide this by 8 years and you get a 49.63% annualized return. This number represents how hard your cash worked for you while invested in real estate. Now let’s compare this to the fund.

To calculate the return on investment in the fund, take the value of the fund at $49,814.08 and subtract the $25,000 cash deposit and you get $24,814.08. Divide $24,814.08 by your $25,000 and you get 99.26% total rate of return. Divide this by 8 years and you get a 12.41% annualized return.

There is a $74,442.18 difference over the same 8 year time frame by using the power of leverage and the power of compounding returns together. Now that’s magic.

If you would like more hands-on learning, you are invited to attend a free upcoming workshop where you will learn how to use the 7 Profit Centers in real estate to educate people and how to apply the law of attraction to manifest the money. Check out my website at www.OnTheBeachEducation.com for event details.

July Ono is a real estate investor, educator and mentor. She is the President of On The Beach Education Corporation and the Founder of the Real Estate Network Group. In 2007, her students purchased over $34 million of investment properties. The Power of Real Estate Program is the best of her experience and expertise that have helped investors grasp the foundation of real estate investing skills and tools to create financial independence for themselves. Accelerate your success and become a team-made millionaire.

www.OnTheBeachEducation.com

July Ono
http://www.articlesbase.com/real-estate-articles/the-magic-of-compounding-returns-678571.html