Free Payment Calculators has released their latest creation, an interest calculator designed to help put abstract financial figures into real monetary terms for those thinking of committing to a loan.
New York, NY -- (SBWIRE) -- 12/02/2013 -- Usury, or the charging of interest on loans, was once considered illegal, but its success in making people rich has seen the law change and the idea to become standard practice. Now, every loan comes with interest, but there are so many different rates it can be difficult to get a handle on what exactly that means in concrete terms. To help with this, Free Payment Calculators has created an Interest Calculator that takes into account the many details of different loans to come up with an accurate depiction of interest in real terms.
The software is free to download and use and comes with an unlimited license, so individuals can enter the parameters of a hundred different potential loans and compare them to see who offers the best rate using the software. It is streamlined software that takes just seconds to install and open and is free of adware and spyware.
For those wondering how to calculate interest accurately, the software asks for every necessary parameter one by one and takes care of all the calculation on their behalf, demonstrating the results in a visual graph.
A spokesperson for Free Payment Calculators explained, “Interest rates are designed to be obtuse because if people were able to see the full amount on paper it would make them think twice and encourage them to make suppliers compete against each other. Our interest calculator can calculate accurately the level of interest individuals are paying on their loans across the lifetime of the loan and show how the interest payments vary when the lifetime is shorter or longer. This allows them to make the best decisions about their repayment plan before they are committed.”
About Free Payment Calculators
Free Payment Calculators are a leading software developer in the financial field and have specialized in user friendly financial calculators. Operating for years in order to help individuals get a handle on what exactly they are committing to when taking out loans or mortgages. Intuitive interfacing and fast results are the priority and this has led to positive user reviews. All software is free from spyware and adware. For more information, please visit: http://freepaymentcalculators.com/free-interest-calculator.html