About Loan Payment Calculator
Calculate the loan installment value and the amortization schedule using Constant Amortization payment. In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of...
Calculate the loan installment value and the amortization schedule using Constant Amortization payment. In banking and finance, an amortizing loan is a loan where the principal of the loan is paid down over the life of the loan, according to some amortization schedule, typically through equal payments.Each payment to the lender will consist of a portion of interest and a portion of principal. Mortgage loans are typically amortizing loans. The calculations for an amortizing loan are those of an annuity using the time value of money formulas. An amortization schedule calculator is often used to adjust the loan amount until the monthly payments will fit comfortably into budget, and can vary the interest rate to see the difference a better rate might make in the kind of home or car one can afford. An amortization calculator can also reveal the exact dollar amount that goes towards interest and the exact dollar amount that goes towards principal out of each individual payment. The amortization schedule is a table delineating these figures across the duration of the loan in chronological order.
Previous Versions
Here you can find the changelog of Loan Payment Calculator since it was posted on our website on 2013-08-21 17:57:46.
The latest version is 4 and it was updated on 2024-04-23 10:35:10. See below the changes in each version.
Loan Payment Calculator version 4
Updated At: 2014-02-09
Changes: Added amortisation schedule
Loan Payment Calculator version 2.5
Updated At: 2013-05-02
Changes: Several fixes and updates
Disclaimer
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