Loan Calculator
A loan is a contract between the borrower and the lender that the borrower receives an amount of money (principle) and is obligated to pay back later. Thousands of loans have been invented since its creation. By the way of payback, most loans can be categorized into the following:
- Pay back a fixed amount periodically until mature. Many consumer-facing loans belong to this category, such as mortgage, auto loan, student loan etc.
- Pay back altogether in the end—when the loan matures, the borrower is obligated to pay the principle plus interest back to the lender altogether. Many commercial loans belong to this category.
- Pay back a fixed amount (face value for bond) in the end—when the loan matures, the borrower pays a fixed amount back to the lender. At the beginning the borrower receives the fixed amount minus the interest. Most bonds belong to this category.
The following are the calculators for the three categories above.
Calculator for Paying Back a Fixed Amount Monthly
This is a fixed interest calculator with adjustable starting date for the calculation of the monthly payment, total payment amount, interest, and amortization schedule of a one time loan. This loan calculator can give out both annual amortization schedule and monthly amortization schedule. Use this calculator for calculating mortgage, auto loan, student loan, etc.
|
|
Calculator for Paying Back Altogether in the End
Calculator for Paying Back a Fixed Amount in the End
Use this calculator for calculating bonds or other related financial products.