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Site Search:       Friday, January 18, 2013
Calculators


Calculators

Turn your dreams into reality. Use a calculator to figure out how to get where you're going financially. Whether you are wanting to know how much a loan payment will cost you each month or how much you should set aside for savings and investments to reach a future goal, our financial calculators are your resource.

These calculators are solely for informational purposes and provides reasonably accurate results; the calculations are not intended to be relied upon as actual borrowing/savings results computations. The use of these calculators is not a guarantee of credit.

Calculator: Should I Pay Off Debt or Save




What to do with money always involves choices, some easier to make than others. The trade-off between paying off credit and adding to savings is easier to see when you use this calculator.

Remember to save on credit, too, by using the low cost lender�your credit union�whenever you borrow. And you win on the other side of your personal balance sheet by adding to savings at the credit union�your source for high yields.


Should I pay off debt or save?
�Amount available each month
for saving or debt payment
$
�Amount I owe
and want to pay off
$
�Annual interest rate I pay on debt (%)
EXAMPLE: 15.99;
�Annual yield I earn on savings (%)
EXAMPLE: 1.29;
�Combined federal & state tax rate (%)
EXAMPLE: 21.49;
�Interest I'd save in one year by paying off debt:
Assumes monthly compounding
Assumes interest calculation before payment application
$
�Yield I'd earn in one year on savings after taxes:
Assumes monthly compounding
$

This calculator is solely for informational purposes and provides reasonably accurate results; the calculations are not intended to be relied upon as actual savings results computations.




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