SaveItUp app for iPhone and iPad
Developer: Peretek, Inc.
First release : 04 Jun 2014
App size: 910.17 Kb
SaveItUp helps you figure the future value, present value, compound interest, loan term, and (of course) tips. The time value of money is an important concept SaveItUp explores.
Compound interest deals with a calculated interest value being added to a principal, and then that new sum being used in the next interest calculation. Interest can be calculated at a number of different frequencies (annually, monthly, daily, etc.). SaveItUp will enable you to explore a number of options.
The future value is the amount a current investment will be worth at a specific time in the future. This value is based on the current amount, the length of the investment, and the expected interest rate.
The present value can be viewed as the inverse of the future value. Given a known value, like a bond maturing in 10 years, what is the present value of that bond? SaveItUp will can tell you.
SaveItUp will also calculate loan payments. Given the details of the loan, including loan amount, annual interest rate, and the term of the loan in months, you can determine the monthly payment and the total amount you will have paid. That may surprise you, especially of youre looking at a home loan!
Finally, no financial tool is worth its salt if it doesnt provide a tip calculator. And SaveItUp has a fine one.