Accounting calculators have come a long way since it was first invented. It has been through various improvements, and now we have accounting calculators that can be used to solve simple numbers problems while giving you more information than ever before. Whether you’re a student looking for an easy math problem to solve, or an accountant looking for a handy tool to help work on your income statement; the following types of accounting calculators can get you started.
- Gratuity Calculator
A gratuity calculator is a tool that can be used by employers to calculate the gratuity amount for their employees. The calculation of gratuity amount depends on the type of service rendered, number of years of service and other relevant factors. It is important to note that this calculator is not limited to Indian companies but is also popularly used by companies across the globe. However, since this calculation is important for anyone drawing a salary make sure to only use a reliable gratuity calculator online. See more.
- Loan calculator
A loan calculator will help you to calculate the total amount of interest that you would pay for a given term and the amount of principal. You can use it to calculate an amortization schedule, which is useful for determining how much debt you need to take on in order to pay off your loan as quickly as possible. This can be used to determine whether or not you should get a variable-rate loan or if fixed-rate loans are better for your situation. The calculator will also tell you what your monthly payment would be if you made regular payments on a fixed-rate loan, which may help you determine if those payments are worth it.
- EMI calculator
An EMI calculator is useful for calculating how much EMIs (equated monthly Installments) a customer will pay on their credit card balance each month over the course of the repayment period (the amortization period). This is part of the credit card agreement between the lender and borrower, and it indicates what amount they will be required to repay each month over the course of their loan term (which may be two years, three years, etc.). It also shows how much interest needs to be paid.
- Pension calculator
A pension calculator is a type of accounting calculator in which you can calculate the money that will be saved after retiring. You need to enter your age and the number of years that you want to retire. The calculator will then give you an estimate of how much money you will have after retirement.
- Provident Fund Calculator
The provident fund calculator helps you figure out how much your retirement corpus will be after they are contributed to your provident fund account. An accurate epf interest calculator will also have all the information about the interest rates associated with the provident fund built in so you don’t have to research on your end, you just need to ensure that the calculator is up-to-date.