Financial Calculator Software for the Nokia N8
moneytime is a personal investment calculator for Nokia N8 smartphones. It’s simple to use and can find the answers to many of your personal money-related questions. It has solvers for
moneytime is great for answering your “what-if” questions. You can solve for any unknown value by just entering the values you do know.
moneytime is a true stand-alone mobile application. No on-line connection is needed to use moneytime.
moneytime has solvers for Loans, Savings accounts, Annuities, Net Present Value, and Internal Rate of Return. This section describes each solver, its fields, and how to use it. To display the solver you’re interested in, touch its tab at the top of the screen.
The Loan solver enables you to determine anything about a loan. Enter the values you know and moneytime will use that information to solve for the last entry.
For example, let’s say you want to know how much money you can borrow based on how much you can afford to pay each month. Just enter the monthly amount you can afford, the interest rate, and term, and moneytime will supply the answer.
In addition to displaying the value you’re seeking, the loan solver also displays a pie graph comparing the principal amount and the total amount of interest paid. The entire pie represents the total amount of payments. The blue slice is the principal amount and the red slice is the total amount of interest.
The Clear button clears the Loan entry fields and replaces the instruction text.
Annual percentage rate, sometime referred to as "yield", is calculated with the following formula,
where i is the interest rate and m is the number of periods within a year. Pay Period values are Daily (365), Weekly (52), Biweekly (26), Monthly (12), Bimonthly (6), Quarterly (4), Semiannually (2), and Annually (1).
The APR value enables you to compare loans of different periods.
Tap the Amortize
button to see a table of monthly payments. (Image is below.) Each row
represents a payment. There are three columns in the table. The first
column is the balance remaining to be paid and it is reduced by each
payment. The second column is the cumulative interest paid. Finally,
the third column is the cumulative amount paid toward the principle.
You can increase or decrease the width of the columns by pulling or
pushing the dividing lines in the headings row. Use the scroll bar to
the right to scan the entire table. The Back
button above the table returns you to the Loan entry screen.
The Savings account solver helps you find how much compound interest you can accrue in a bank account. Like the Loan solver, enter the fields you know and the solution for the field you did not enter is displayed instantly. The Period drop-down list includes a “Continuous” selection for a continuously compounding account. Press the Clear button to solve for a different value.
The Annuity solver is the most general solver of moneytime. An annuity is an investment that pays or receives payment at regular intervals. Use this page to solve for present and future values. You can enter negative values into the fields as well as positive values. Enter positive values for payment you receive, negative for amounts you pay out. In the image to the right, the values represent a 30-year pension that pays out $60,000 annually. At 5.5% interest, savings of $872,025 are required.
As on all solver pages, the Clear button enables you solve for a different value.
Use the Net Present Value solver to judge and compare the merits of investment opportunities. The NPV solver has dedicated input and output fields. Let’s say you are presented with an investment. How do you know it’s a good one, an investment you should make?
The input fields are Investment, Periods, Cash Inflow, and Interest Rate. The output fields are Present Value, Net Present Value, Payback Period, and Profitability Index.
Enter the initial cost of the investment in the Investment field. Enter the number of pay periods in the duration (the term) of the investment. In the Cash Inflow field enter the amount of payment (or dividend) you'll receive at the end of each period. In the Interest Rate space enter the “cost of money”. This is the amount of interest you would earn in a different investment, say a bond for instance. Think of this field as your “required rate of return”. That is, the minimum amount of interest you’ll accept in an investment.
Once you've entered your input criteria, moneytime displays the present value of the cash inflows. This is what the sum of the inflows is worth today given the cost of capital. The net present value field is the present value minus the initial investment. If this value is positive, then the investment is profitable. The payback period is the number of periods it will take for the cash inflows to match your initial investment. The profitability index is the ratio of the present value of the cash inflows to the initial investment. If this profitability index is greater than one then the investment is profitable. You can use the profitability index to compare different investments. The greater the profitability index, the greater the return on investment.
The Internal Rate of Return solver tells you what percentage rate corresponds to a series of payments. This can enable you to compare an income source where the interest rate is not given to other investments based on percentage rate.
Like the Net Present Value solver, the IRR solver has dedicated input and output fields. The input fields are Investment, Payment, and Term. The output field is the IRR.
Enter the amount of the initial investment required. Enter the payment received at the end of each term period. Enter the Term of the investment in payment periods, which typically represent years, but can also represent months.
Once you have entered the three inputs, moneytime displays the internal rate of return based on the inputs.
Press the Clear button to erase field contents.
