Financial Aid

About Financial Aid Android App

Saving:
- Calculate the amount that user will have after a duration of savings
- Yearly interest: the interest rate announced by the bank where user opens saving account. This is considered as a constant during the saving duration
- Saving amount: amount of money that users will put into saving account monthly/yearly...
- Saving duration: the duration time that users will save money.
- Initial saving amount: amount of money that users initially put into saving account when opening it
- Total earning: amount of money that user has when the saving duration ends
- To compare with the case that user put his money in his own pack, we calculate here the Total saving without interest rate and Total Interest Earn to help people to recognize the benefit of saving money into bank

Payment:
- Calculate the amount and duration of time that users need to pay back the loan money
- Yearly interest: the interest rate that is applied to the loan
- Loan amount: amount of money that user loans
- Payment amount: amount of money that users need to pay monthly/yearly…
- Payment duration: the duration time that users need to pay.
- To compare with the case that user uses his own money to buy things (without loan from bank), we calculate here the Total Payment and Total Interest Paid so that user can recognize the lost when he loans money from the bank