Adding up Calculators|
by Latu Molupli
Did you know that there are many different kinds of
calculators? They all have different functions and can be
used to do many different types of tasks making them much
easier and less labor-intensive on your part.
The most common calculator is a numeric calculator, used
for simple math like addition, subtraction, multiplication
and division. These calculators most times can also figure
percent and square root. This type of calculator is used
by a wide variety of people, from school-aged children to
Some of the other kinds of calculators include mortgage and
loan calculators, scientific engineering, statistical,
financial, currency, graphing, time, temperature, and even
a feet/inches and measurement unit converter calculators.
Each of these has a specific function, and can become quite
in-depth, depending on the use.
Financial calculators can figure out how much money you can
afford to invest in a certain stock or fund, based on the
purchase price and the length of time it will take to gain
in value taking into account the rate of inflation as well.
Of course this amount would only be an estimate according to
the performance of the market. Another calculator that
deals with a type of investment is the mortgage calculator.
It can figure out how much "home" you can afford and what
the amortization of your loan will be. It is based on the
interest rate, the down payment, and the length of financing
on the loan.
A loan comparison calculator allows people to compare loans
prior to purchasing something with a loan. For example, a
loan calculator can compare loans with different rates to
see how much interest can be saved over the length of the
loan. This type of calculator is exceptionally helpful
with regards to mortgage refinances, because it will help
discern how long it will take for the borrower to recoup
closing costs if they are rolled into the loan.
If you are planning a trip out of the country, a currency
calculator is an excellent tool. You can convert whatever
currency you are taking to the currency of the country you
are visiting, so that you will know what the rate of
exchange should be and whether or not you are getting a fair
deal on the products and services you are using.
When you begin to plan for retirement, you should look at a
retirement spending calculator. You simply enter your
retirement savings amount, or the goal for your retirement
savings amount and your estimated monthly withdrawal amount.
The calculator will figure out how much your savings deplete
over time based on amortization and interest earned.
So you see, there are many different types of calculators
for just about every specific need known to man. By using
the right calculator for the right job, figuring out
anything numbers related can be done in a snap.
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