JLP at AllFinancialMatters has released two more interesting calculators.
The first, the Inflation Calculator, show what items will be worth in the future, given an expected inflation rate. It shows some scary results! For example, £200 of today’s money will be the equivalent of £327 in 20 years time.
The second calculator is an expanded calculator for comparing mortgages:
This calculator assumes that the monthly payment differences are invested in a savings account that grows at an expected rate of return that you enter. The calculator then shows you how much your net worth “could be†based on those numbers. It is important to note that this is all a factor of mortgage rates and the rate of return that you can get elsewhere.
I love these sorts of calculator as they show the effects of interest and other financial factors in a variety of ways which can help you understand their effects.