


Savings Calculators
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FinAid provides several interactive calculators you can use to set
your savings goals and consider the financial impact of a variety of
savings options.
 The Savings Growth Projector illustrates how regular contributions to an
interestbearing bank account or investment fund can grow due to
compound interest.
 The Savings Plan Designer shows you how much money you must
save in an interestbearing bank account or investment fund each
month in order to reach your savings goals. It is a useful tool for
deciding how much to save.
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 The Savings
Plan Designer Chart generates a chart that
shows how much money you must
save in an interestbearing bank account or investment fund each
month in order to reach your savings goals for different time
horizons. It is a useful tool for demonstrating that time is your
greatest asset.
 The Savings Plan Designer (Percent of Income Contribution) shows you
the percentage of your income that must be saved in an
interestbearing bank account or investment fund each
month in order to reach your savings goals. It is a useful tool for
deciding how much of your income to save.
 The Annual Yield
Calculator computes the annual yield required to achieve a
given total return over a specified number of years.
 The Compound Interest Calculator
computes the effective
interest rate for an investment compounded at different intervals. It
illustrates the effects of compounding on the effective interest rate.
 The Savings Plan Yield Calculator
computes the annual interest
rate required to reach your savings goal given the present value of
your savings, the value of your regular contributions, and the amount
of time available.
 The Level Payment Calculator (Amount)
and Level Payment Calculator (Percent of Income)
integrate saving and borrowing into a single calculator so that you
pay the same amount before and after college regardless of whether it
is to save or repay debt.
The Inverted Level Payment Calculator (Amount)
and Inverted Level Payment Calculator (Percent of Income)
perform the inverse computation, starting with the amount you can
afford to pay and figuring out how much college you can afford.

