Quick tool but cant find one thing
Is there a function to solve for the number of periods? I cant seem to find it
App not working
The option in the image isn’t available in the app. The app only calculates fv, pv and pmt not interest rate or amount of years
Great idea 4 an App
I like the concept of a present value calculator. But I don’t find this app intuitive. It has been 50 years since college so I might be rusty on what to expect. I found this app difficult to learn and not very useful.
You can’t solve for rate
Don’t release an app when it’s not fully functional yet. Waste of time downloading and figuring out it doesn’t work. Also a waste of time writing this review, but hopefully it helps others not waste time, and gives the developer a push to not release things that aren’t finished. Cheers
Interest rate
After installing I noticed it does not solve for interest rate. It only solves for present value, future value and payment with a known interest rate.
Please allow for calculation of higher values.
Otherwise, great app!
TVM calculator
I do not understand the last 3 options regarding period (number of periods, compounding period, payments per period). There is no help feature on this app to explain the different options.
Response from developer
Typically the interest rate is noted on annual basis i.e. per Year (Rate for Period in this app) over a specified term (Number of Periods in this app). If interest is compounded yearly, then Compounding Times per Period (in this app) = 1, if semi-annually, then it = 2, quarterly, then = 4, monthly, then = 12, and so forth. There are also different options for payments as you can pay monthly, semi-monthly i.e. 12, 24 Payments per Period etc. For flexibility's sake the interest rate in this app can be expressed not only as annual (Period can be a month for example), all other variables should be adjusted accordingly.
No Payment Field
No payment field makes this not a fully functional TVOM calculator.
Sleek and Functional, But Lacking Payment Amount
The interface is nice and simple, and it looks great! The app is functionally smooth. The reason I gave 2 stars is because a true Time Value of Money calculation factors in Payment Amount, which this app does not do.
My recommendations:
1. Add Payment Amount function
2. Allow for negative values (i.e. borrowed money = positive Present Value; money lent out = negative Present Value; payments made to a loan = negative Payment Amount; payments received to money lent to another = positive Payment Amount).
My recommendations:
1. Add Payment Amount function
2. Allow for negative values (i.e. borrowed money = positive Present Value; money lent out = negative Present Value; payments made to a loan = negative Payment Amount; payments received to money lent to another = positive Payment Amount).
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