Loan Calculator



General Loan Calculator

Amount of Loan?:
Total Periods? (#):
Annual Rate?:
Periodic Payment?:
 
Enter a '0' (zero) for one unknown value above.
 
Payment Period?:
Compounding Period?:
Payment Method?:
Amortization Method?:

Total Interest:
Total Principal & Interest:
This free, online loan calculator (c) 2010 Pine Grove Software, LLC All rights reserved.

The loan calculator will solve for any one of four possible unknowns: "Amount of Loan", "Total Scheduled Periods" (term), "Annual Interest Rate" or the "Periodic Payment".

Enter a '0' (zero) for one unknown value.

The term (duration) of the loan is a function of the "Total Scheduled Periods" and the "Payment Frequency". If the loan is calling for monthly payments and the term is four years, then enter 48 for the "Total Scheduled Periods". If the loan payments are made quarterly and the term is ten years, then enter 40 for the "Total Scheduled Periods".

Normally you would set the "Payment Method" to "Arrears" for a loan. This means that the monies are lent on one day and the first payment isn't due until one period after the funds are received.

If the first payment is due on the day the funds are available, then set "Payment Method" to "Advance". This is typical for leases.

The "Amortization Method" should be set to "Normal" unless you have a specific reason to set it to another method.