Financial Goal Calculator Financial Goal Calculator

From Financial Consumer Agency of Canada
Assumptions and Limitations
  • This tool is for your reference only. For an exact repayment schedule, please contact your financial institution.
  • Figures use twelve decimals for accuracy, however only two decimals are displayed. Due to rounding, this may cause the debt and savings charts to appear incorrect by a few cents.
  • Due to the above, if the remaining balance is calculated to be less than $0.01, it will display as 0.
  • The module will not allow the overpayment of a debt or to exceed the amount of your savings goal.
  • Clicking Save will overwrite any previously saved changes for that specific debt or goal.
  • The module assumes that any debt entered is pre-existing, and therefore it does not calculate an interest-free grace period.
  • A payment amount for a debt must at least cover the interest, otherwise the debt will never be paid off.
  • When the Payment/Contribution Frequency is twice a month, the Date of Next Payment/Contribution must be either the 1st or the 15th of the month.
  • The Interest Rate cannot be a value higher than 99.9999.
  • The Regular Payment Amount field cannot have a value that is less than $1.
  • The Number of Payments/Contributions field cannot have a value that is higher than 9999.
  • The Target End Date cannot be after December 31, 2099 (2099/12/31).
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