Generic Loan Calculator
This calculator will create a loan schedule if you give it any loan amount,
any rate, any term, any compounding frequency.
To match the math that banks use, I am always going UP with
partial pennies on calculated interest so that $99.002 becomes $99.01,
not $99.00 like I used to
calculate when I rounded to the nearest penny. Those extra pennies add up!
Here is a prettier PHP version and here is one that
writes the output to a PDF file for saving/printing.
Your interest rate per period is 0.5833 % for 12 total periods ( 1.0000 years)
| Period | Years | Balance | Interest | Principal |
|---|
| 1 | 0.083 | 1000.00 | 5.84 | -5.84 |
| 2 | 0.167 | 1005.84 | 5.87 | -5.87 |
| 3 | 0.250 | 1011.71 | 5.91 | -5.91 |
| 4 | 0.333 | 1017.62 | 5.94 | -5.94 |
| 5 | 0.417 | 1023.56 | 5.98 | -5.98 |
| 6 | 0.500 | 1029.54 | 6.01 | -6.01 |
| 7 | 0.583 | 1035.55 | 6.05 | -6.05 |
| 8 | 0.667 | 1041.60 | 6.08 | -6.08 |
| 9 | 0.750 | 1047.68 | 6.12 | -6.12 |
| 10 | 0.833 | 1053.80 | 6.15 | -6.15 |
| 11 | 0.917 | 1059.95 | 6.19 | -6.19 |
| 12 | 1.000 | 1066.14 | 6.22 | -6.22 |
| 13 | 1.083 | 1072.36 | 6.26 | -6.26 |
Total Payments: $ 0.00
Total Interest $ 78.62
DISCLAIMER: This information is for illustrative purposes only.
Numbers may be off by $0.01 per month due to differing methods of rounding so
the
results are not exact. Also note that the schedule generated here applies only
to a loan where all payments are made in full in a timely manner. It does not
include any late fees or additional accrued interest due to late payments.
Hugh - To Calculators
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