The Personal Finance Calculator: How to Calculate the Most Important Financial Decisions in Your Life [NOOK Book]

Overview

Today's most clear-cut guide for understanding and making everyday financial decisions

Is it better to buy or lease a car? How does one calculate an investment return? For that matter, what exactly is an investment return? The Personal Finance Calculator provides noncomplex tools and calculations for assessing current personal wealth, determining how much debt is too much debt, understanding credit card interest rates, and more.

Written by Esme...

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The Personal Finance Calculator: How to Calculate the Most Important Financial Decisions in Your Life

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Overview

Today's most clear-cut guide for understanding and making everyday financial decisions

Is it better to buy or lease a car? How does one calculate an investment return? For that matter, what exactly is an investment return? The Personal Finance Calculator provides noncomplex tools and calculations for assessing current personal wealth, determining how much debt is too much debt, understanding credit card interest rates, and more.

Written by Esme Faerber, a McGraw-Hill author renowned for simplifying complex finance topics and explaining their use, this clear, concise book explains simple steps for getting one's financial life in order and saving money over both the short and long term. Readers will learn how to:

  • Keep investment costs from undercutting overall returns
  • Use the popular "Rule of 72" to estimate investment growth
  • Determine how much money they will need for retirement
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Product Details

  • ISBN-13: 9780071429061
  • Publisher: McGraw-Hill Education
  • Publication date: 3/11/2003
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 1
  • Pages: 224
  • File size: 7 MB

Meet the Author

Esme Faerber, C.P.A. is professor of business and accounting at Rosemont College. She is the author of numerous popular books for individual investors, including All About Stocks and All About Bonds, and Bond Mutual Funds.

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Table of Contents

Acknowledgments vii
Introduction ix
Part 1 Assessing Your Current Wealth
Financial Calculator
1 How to Determine Your Net Worth 3
2 How to Determine a Cash Inflows and Outflows Statement 8
3 How to Formulate a Budget 12
4 Time Value of Money and What It Can Do for You 20
5 Simple Interest and How to Calculate It 22
6 Compound Interest and How to Determine Future Value 23
7 What You Need to Know About Nominal Versus Effective Interest Rates and How to Calculate the Effective Rate 30
8 Present Value and How to Calculate It 33
9 Annuities and How to Calculate Them 37
10 How to Determine the Amounts Needed to Fund Your Objectives 52
11 How to Reconcile Your Checking Account 61
12 How to Prepare Your Records for Your Tax Accountant 68
Part 2 Managing Your Personal Wealth--Debt
Financial Calculator
13 Determine Your Debt Capacity 75
14 How to Determine the Best Source of Credit 77
15 How to Determine the Annual Percentage Rate Costs of Using Credit Loans 81
16 How to Determine the Rate of Interest on Your Credit Cards 90
17 How to Manage Your Debt 94
18 How Much of a Mortgage Can You Afford? 99
19 How to Calculate Your Monthly Mortgage Payment 103
20 How to Determine Your Mortgage Balance 107
21 Determine Your Mortgage Balance When Additional Principal Payments Are Made 111
22 Adjustable Rate Mortgages and How They Work 114
23 Which Type of Mortgage Should You Choose? 121
24 When Should You Refinance Your Mortgage? 125
25 Should You Rent or Buy a House? 127
26 What You Should Know About Leasing a Car and How a Lease Works 131
27 Should You Buy, Lease, or Finance Your Car? 136
28 How to Create a Simple Interest Loan Schedule 142
Part 3 Managing Your Personal Wealth--Investments
Financial Calculator
29 Determine Your Investment Objectives 149
30 Determine Your Risk Tolerance 152
31 How to Allocate Your Investments 158
32 How to Determine Your Equity Style in the Selection of Individual Stocks 165
33 How to Determine Which Types of Bonds to Buy for a Portfolio 171
34 How to Rebalance Your Portfolio 175
35 The Rule of 72 and How to Use It to Determine How Long It Will Take to Double Your Money 179
36 How to Assess and Balance Risk and Return in the Choice of Different Investments 180
37 How to Calculate a Simple Rate of Return for Stocks and Bonds 186
38 How to Determine a Rate of Return for a Mutual Fund 190
39 How to Determine the Yield on Treasury Bills 193
40 How to Determine the Purchase and Selling Price of Treasury Bills 197
41 How to Buy and Sell Treasury Securities Directly from the Federal Reserve 201
42 How to Convert Municipal Bond Yields to Before-Tax Yields 207
43 Duration and How It Can Help You in the Choice of Bonds for Your Portfolio 211
44 How to Value Bonds 217
45 How to Value Common Stock 220
46 How to Determine the Growth Rate of a Stock 226
47 How to Analyze and Evaluate Your Common Stocks 229
48 How to Choose a Mutual Fund 246
49 How to Determine the Tax Consequences of Buying and Selling Shares in a Mutual Fund 254
50 How to Determine the Average Cost in Dollar Cost Averaging 259
Part 4 Planning for Your Future
Financial Calculator
51 How to Determine Your Future Financial Needs and How to Fund Them 265
52 How to Determine How Long Your Money Will Last in Retirement and the Amount of the Payment in a Systematic Withdrawal Plan 272
Appendices 277
Index 287
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