| |
Amortizing Loan Calculator (Canadian) |
|
Enter your desired payment and number of payments, select the Weekly, Bi-weekly or Monthly in the “Payments are made” field - and let us calculate your loan amount. Or, enter in the loan amount and we will calculate your payment. You can then examine your principal balances by payment, total of all payments made, and total interest paid. Press the “View Report” button to see a payment schedule.
|
|
|
Definitions
- Payment
- Payment for the frequency of this loan.
- Loan amount
- Total amount of your loan.
- Payments are made
- Select “Monthly”, “Weekly” or “Bi-weekly” for the payment frequency for this loan.
- Number of payments
- Total number of payments for this loan.
- Interest rate
- Annual interest rate for this loan. Interest for this loan is calculated each period on your current outstanding balance. The interest rate per period is calculated by dividing the annual interest rate by the number of payments made each year.
|
|
|
