A Loan Amortization Calculator For Any Purpose
The loan amortization calculator is intended to show you how your loan will work month-by-month, including information about:
- Your monthly payment
- How much of your loan gets paid off each month
- How much of your monthly payment goes to interest each month
- How much you'll owe on your loan at any point in time
Fill in the required information related to your loan, and click the Calculate button. A table will appear below the loan amortization calculator with the information described above.
You may want to plug the loan amortization calculator's output into Excel or another spreadsheet program so that you can work with the numbers even further (for example, you might calculate how much interest you'll pay over the first 10 months of your loan). The best way to do this is to select the data starting outside (above, for example) of the table. Or, use a pre-built Excel loan calculator template.
The loan amortization calculator can be used for your auto loans, home loans, or any other straight-line amortized loans. It does not work with credit card loans or other revolving loans.
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