Interest Only/Conventional Calculator

This allows for a loan of a certain length where the first few years are interest only with a reduced payment, and the balance is then amortized out.

Loan Amount (no commas!)

Annual Interest Rate

Years Interest Only

Periods per Year (12 for monthly, 26 for bi-weekly, 52 for weekly, etc.)

Total Number of Payments OR Total Number of Years

Your interest only rate per period : 0.5833 %
For 12 total periods ( 1.0000 years) for an interest only payment of $ 58.33
Your amortized interest rate per period : 0.5833 %
For 0 total periods ( 0.0000 years) for an amortized payment of $

PeriodYearsBalanceInterest PrincipalTotal Payment
1 0.08310000.00 58.33 0.00 58.33
2 0.16710000.00 58.33 0.00 58.33
3 0.25010000.00 58.33 0.00 58.33
4 0.33310000.00 58.33 0.00 58.33
5 0.41710000.00 58.33 0.00 58.33
6 0.50010000.00 58.33 0.00 58.33
7 0.58310000.00 58.33 0.00 58.33
8 0.66710000.00 58.33 0.00 58.33
9 0.75010000.00 58.33 0.00 58.33
10 0.83310000.00 58.33 0.00 58.33
11 0.91710000.00 58.33 0.00 58.33
12 1.00010000.00 58.33 0.00 58.33
13 1.08310000.00 58.33 -58.33 0.00

Total Interest $ 758.29

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.
Calculators - Hugh