Do some Quick Math with Simple Loan Calculator App for iPhone

| August 4, 2010 | 0 Comments

There are many times where you would be interested in calculating a particular aspect of a loan but might not want to go through the rigmarole of looking up the formula and then doing all the math on your own. For times like that, Simple Loan Calculator app for iPhone can give you a general idea of what to expect.

Calculate simple amortization

In order for Simple Loan Calculator iPhone App to work, you need to be dealing with any simple loan format that includes interest amortized over a fixed amount of time with monthly payments that are also fixed. If this is how you want the loan structure to work, you can use Simple Loan Calculator app for iPhone to give you a general idea of what the amortization is going to be. You can then use this to get a monthly payment value on the loan that will give you an idea of how much you might need to pay back per month were you to actually go ahead and take this loan.

Calculate loan amount

You can also do the flip side of that particular calculation which is to calculate the total amount of a loan that you could hold onto with Simple Loan Calculator iPhone mobile application. Pick a monthly payment amount that you feel comfortable with and once you have done that you can then put in an interest rate and a length of term for the loan. Amortization works the same both ways and because of that you can get Simple Loan Calculator app to use those figures to give you an idea of the total amount of loan that you could afford to take.

Calculate for multiple loan types

As long as the loan has an interest rate amortized to a fixed term with a fixed payment per month, you can use iPhone Simple Loan Calculator mobile app. This means that mortgages, car loans, computer loans or anything else that conforms to those general properties can be estimated with this particular iPhone app.

Final Score

Simple Loan Calculator app for iPhone is not authoritative and does not pretend to be. It is an app that will give you a decent estimate of whatever number you are after, but you should always check with your financial specialist before agreeing to a deal to find out exactly what is going on. The final score for Simple Loan Calculator iPhone app for its usefulness however is still high at 8 out of 10.

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Category: Business, Finance, iPhone Apps

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