What can I afford?...How much?...How soon?

From simple budgeting to retirement planning, many of your important financial questions can be answered quickly and accurately with the help of First Midwest’s financial calculators. Our wide array of calculator tools is listed below:

You’re always welcome to contact your First Midwest Banker to discuss your results, or any other questions you may have about your money.

Auto Calculators

• Which is better: a new or used car?
• How much should depreciation cost me?
• Should I lease or purchase a vehicle?
• Should I finance or pay cash for a vehicle?
• How much will my vehicle payments be?
• Which vehicle loan is better? 
• What term of vehicle loan should I choose? 
• Should I use a home equity loan instead of an auto loan?
• Which is better: a rebate or special dealer financing?
• How long should I keep a vehicle?
• What vehicle can I afford?

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Budget Calculators

• How much am I spending?
• How much should I set aside for emergencies?
• How much will it cost to raise a child?
• Should I pay off debt or invest in savings?
• Should my spouse work too?
• What will it take to pay off my balance?
• What's it worth to reduce my spending?

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College Planning Calculators

• What will it take to save for a college education? 
• What is the value of higher education?
• What investments can I use to save for college?
• What expenses do I face prior to attending college?
• Should I live on campus, off campus or at home?
• How much should I budget for college living expenses?
• Is a meal plan a good deal?

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Mortgage & Home Calculators

• Am I better off refinancing?
• Am I better off renting?
• Am I eligible for the first-time homebuyer credit?
• How advantageous are extra payments?
• How can I reduce mortgage insurance costs?
• How much can I borrow?
• How much can I save in taxes?
• How much should I put down for a new home?  
• How much will my adjustable rate payments be?
• How much will my interest-only payment be?
• How much will my mortgage payments be?
• Is my private mortgage insurance deductible? 
• Should I pay points to lower the rate?
• What home can I afford?
• What will my closing costs be?
• What will my refinancing costs be? 
• Which is better: 15- or 30-year loan term?
• Which is better: fixed or adjustable?
• Which is better: interest-only or traditional?
• Which lender has the better loan?
• Which loan is better?

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IRA Calculators

• How do return rates affect my retirement income?
• How much may I contribute to an IRA?
• How will a large withdrawal affect the decision?
• How will changes in my tax rate affect the decision?
• Should I convert my IRA into a Roth IRA?  
• What option is best for estate planning?  
• When should I begin saving?  
• Which will provide the most retirement income?

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Retirement Calculators

• Am I saving enough? What can I change?
• Can I skip my 2009 required minimum distribution?
• How advantageous is increasing my savings?
• How much can I contribute to my retirement plan each year?
• How much of an effect can inflation have?
• How much will Social Security provide after retirement?
• How will I earn with this account?
• How will retirement affect my expenses?
• How will this account be used?
• What happens if tax laws change?
• What if I underestimate my expenses?
• What if Social Security no longer exists?
• What will my expenses be after I retire?
• Which savings or income source will be the largest?
• Which savings should be used first?

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Business Calculators

• How long will it take to repay my loan?
• How much do I need to start my business?
• Should I buy or lease equipment?
• Should I get a loan or a line of credit?
• Should I lease or own my business location?
• Should I take advantage of trade discounts?
• What is my business worth today?
• What term of loan should I use?

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Savings Calculators

• How much of a difference will the rate make?
• How much will my CD be worth at maturity?
• How much will my savings be worth?
• How much, at what rate, when?
• How will taxes and inflation affect my savings?
• What will it take to become a millionaire?
• What will it take to save for a college education?
• What will it take to save for a vehicle, home, etc.?
• What's it worth to reduce my spending?
• Which is better: cash or payments?

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