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Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
The term (duration) of the loan is expressed as a number of months.
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/loan-calculator
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
Our Mission is to provide investors with capital preservation while delivering superior returns from mortgage-backed investments and a steady stream of dividend income.
5025 Orbitor Drive, Building 2, Second Floor, Mississauga, Ontario, L4W 4Y5