Frequently Asked Questions

Our calculators use industry-standard formulas and are thoroughly tested for accuracy. However, results are estimates based on the information you provide. Actual loan terms, fees, and rates from lenders may differ. Always obtain official quotes before making financial decisions.

No, we do not store any of your financial information on our servers. All calculations are performed locally in your browser. Your calculation history is saved only in your browser's local storage and can be cleared at any time.

Simple Interest: Calculated only on the principal amount. Formula: I = P × r × t
Compound Interest: Calculated on principal plus previously earned interest. Formula: A = P(1 + r/n)^nt

Example: $10,000 at 5% for 5 years yields $2,500 simple interest but $2,833.59 compound interest (monthly compounding).

Our loan calculator shows:
• Monthly Payment: Principal + interest payment
• Total Interest: Total interest paid over loan term
• Total Amount: Principal + total interest
• Chart: Visual breakdown of principal vs interest

Note: This doesn't include taxes, insurance, PMI, or other fees that may apply to your actual loan.

The rate converter switches between:
• Nominal Rate: Stated annual rate before compounding
• Effective Rate: Actual annual rate after compounding

This helps compare loans or investments with different compounding frequencies. A 5% nominal rate compounded monthly equals 5.116% effective annual rate.

Yes! Our calculator is fully responsive and works perfectly on smartphones, tablets, and desktop computers. All features, including charts and formula explanations, are optimized for mobile use.

Yes! Your calculation history is automatically saved in your browser. You can also:
• Use the "Share Results" button to copy calculation details
• Take screenshots of charts and results
• Print results from your browser
• Clear history anytime with the "Clear History" button

Our calculator works on all modern browsers including:
• Chrome (recommended)
• Firefox
• Safari
• Edge
• Mobile browsers (iOS Safari, Chrome Mobile)

For the best experience, use an updated browser version.

Yes, you can use our calculators for business planning and analysis. However, for official business loans or financial decisions, always consult with qualified financial professionals and obtain formal quotes from lenders.

Several factors can cause differences:
• Fees: Origination, processing, or closing costs not included in calculations
• Insurance: PMI, mortgage insurance, or life insurance requirements
• Taxes: Property taxes, transfer taxes, or other government fees
• Credit Score: Your actual rate may differ from the rate used in calculations
• Terms: Actual loan terms may have different compounding or payment schedules

Always get official quotes for accurate comparisons.

For planning purposes:
• Active shopping: Weekly or when rates change significantly
• Long-term planning: Monthly or quarterly
• Investment tracking: When considering major changes
• Refinancing analysis: When rates drop 0.5% or more

Interest rates fluctuate based on economic conditions, so regular recalculation helps maintain accurate planning.