Q:

What is an estimate calculator?

A:

Quick Answer

An estimate calculator is a helpful financial planning aid that figures the approximate cost of an item or scenario. Government agencies, such as the IRS and the Social Security Administration, provide estimate calculators on their websites.

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Full Answer

SSA.gov, the Social Security Administration website, provides calculators that estimate benefits based on earnings, such as retirement, survivor and disability benefits. It also provides a life expectancy estimate calculator to determine how long benefits may need to last.

StudentAid.Ed.gov is the federal student aid website that contains an estimate calculator to determine student loan eligibility. IRS.gov provides a calculator that estimates the federal tax to be withheld from a paycheck. Web sites for financial institutions and credit card companies, such as Discover.com, often provide estimate calculators for mortgage rates and loans.

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