Monthly Loan Payment Calculator

It supports irregular investment dates. The rate usually published by banks is the annual percentage yield, or APY, in which compounding interest is accounted for. A secured loan means that the borrower has put up some form of owned asset in exchange for money. Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you only want to know how much simple interest you'll pay at a certain rate, this is a straight-forward, no frills utility that will do it.

Loan, Deposit Rate Calculation

Loan repayments - FAQ

 · Our loan payment calculator breaks down your principal balance by month and applies the interest rate your provide. Because this is a simple loan payment calculator, we cover amortization behind Use the loan calculator to determine your monthly payments for a simple loan. Input your loan amount, interest, and term in the loan calculator Download a free Simple Interest Loan Calculator to make your document professional and perfect. Find other professionally designed templates in

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Results 1—2 of 2 1. Pros Easy for anyone to use. Cons It would be extra nice of it included boxes for months and days. Reply to this review Was this review helpful? Pros Does what it says. Cons It doesn't do compound interest, like you'll have with a credit card or mortgage, but what do you want for a 32k util?

You are logged in as. Please submit your review for Simple Interest Calculator. Thank You for Submitting Your Review,! Note that your submission may not appear immediately on our site.

Since you've already submitted a review for this product, this submission will be added as an update to your original review. Unlike the first calculation which is amortized with payments spread uniformly over their lifetimes, these loans have a single, large lump sum due at maturity. Although the lump sum includes a single payment of interest for the whole loan, it is not simple interest but accrued by compounding over the life of the loan. As a matter of fact, this is a typical calculation of how finance textbooks teach interest accumulation.

Some loans, such as balloon loans, can also have smaller routine payments during their lifetimes, but this calculation only works for loans with a single payment of all principal and interest due at maturity. Compared with smaller routine payments, there is greater risk with not being able to meet the lump sum payment obligation at the end because of how relatively large it is.

This kind of loan is rarely made except in the form of bonds. Technically, bonds are considered a form of loan, but operate differently from more conventional loans. Mainly in that the payment at loan maturity is predetermined, which is the main difference between this calculation and the second calculation, where the maturity payment is not predetermined.

The face, or par value of a bond is the amount that is paid when the bond matures, assuming the bond doesn't default. The term is used because when bonds were first issued in paper form, the amount was printed on the "face", meaning the front of the bond certificate.

Although face value is usually important just to denote the amount received at maturity, it can also help calculate coupon interest payments, which this calculation essentially does. Note that this is mainly for zero-coupon bonds, which do not have coupon payments in between. After a bond is issued, its value will fluctuate accordingly with interest rates, market forces, and many other factors.

Due to this, because the face value due at maturity doesn't change, the market price of a bond during its lifetime can fluctuate. Nearly all loan structures include interest, which is the profit that banks or lenders make on loans.

Interest rate is the percentage of a loan paid by borrowers to lenders. For most loans, interest is paid in addition to principal repayment in order to compound over time. Compound interest is interest that is earned not only on initial principal, but on accumulated interest of previous periods also.

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This basic loan payment calculator will help you to quickly calculate the monthly payment and total interest cost for an amount of money you are looking to borrow. Plus, unlike other calculators that only calculate the interest cost in terms of money, this calculator has an option for calculating the interest cost in terms of your time as well.

In other words, if you enter your real hourly wage, this calculator will tell you how many hours you will you need to work in order to pay just the interest cost of the loan. If you don't love your work, this could be a real show stopper! If you want to see how many hours you will need to work to pay just the interest costs of the loan, enter your real hourly wage.

Otherwise leave that field blank. If your web browser supports Local Storage , you can save your entries to your web browser so won't have to start over on your next visit. Please note that your saved entries can only be retrieved from the same device and web browser you were using when you stored them. If you would like to access your saved entries from any device I invite you to subscribe to the Ad-Free Member Version.

To save your entries to your web browser, click or tap the Data tab in the Help and Tools section mobile: To load previously saved entries, click or tap the Data tab and select the saved data record from the drop-down menu.

You can then save any changes to your entries by simply clicking the Save button while the data record is selected. To clear a named set of saved entries, click or tap the Data tab, select the saved data record from the drop-down menu, and then tap or click the Clear button. Only numeric characters and decimal points may be entered in numeric fields. Non-numeric characters dollar signs, percent signs, commas, etc.

If the field includes a grid icon, tapping the icon will open a popup keypad which will include only the characters allowed in the field. If your device keypad does not include a decimal point, use this popup keypad to enter decimal numbers where applicable. Tap the info i icons for a further explanation of each entry field you can click [X] or outside of the pop-up tool tips to close them. A summary of these explanations, along with any additional term explanations, can also be found under the Terms tab.

Since I can't test for every possible combination of numbers, please be sure to double-check the results of this calculator yourself before considering them to be valid. If you do discover an issue with the calculated results, please report the issue using the feedback form located below the calculator.

In order to scroll the calculator vertically you will need to swipe just outside of the calculator's dark-blue border, or use the window's far right-hand scroll bar, whichever is applicable to your device. If the top section of the calculator becomes to tall for your viewport, tapping in the "Enter a problem The Algebra Calculator is the only calculator on the site that I did not create myself.

And since I did not create it, I don't have access to the code for fixing any issues you may be experiencing. So if you are having issues with the calculator, please visit the support page at Mathway. If you are using the latest version of your web browser software, this feature will allow you to save your calculator entries to your web browser's local storage in between visits.

This means the calculator entries can only be recalled with the same device and web browser you were using when you saved them. If you'd like to save data between devices you will need to subscribe to the Ad-Free Member Version. To save a new set of calculator entries, select "New Data Record" from the dropdown list, enter a nickname for the data record, then click the "Save" button. To load a previously saved set of calculator entries, simply select the name of the data record from the dropdown list.

To save changes to a set of previously saved calculator entries, be sure the name of the data record is selected, and then click the "Save" button.

To clear a saved set of entries, be sure the name of the data record is selected, and then click the "Clear" button. Entries saved to your web browser's Local Storage can be lost if you upgrade your web browser or accidently clear the Local Storage.

This Data Backup feature allows you to backup your saved entries to a. To back up your saved entries, click the Latest button to display the most recent data.

Then click the text field to highlight all of the text and choose Copy from your web browser's Edit menu. Next open a new text-only document Notepad, TextEdit, etc. To restore saved entries that have gone missing, open the text file you saved them in, select and copy the data text in the file no leading or trailing spaces , paste it into the text field in the Data Backup section, then click the Restore Data button located beneath the field.

The Save functions are bonus features reserved for those who allow ads to display on the page. If you would like to use the Save features, please disable ad blocking for this website and refresh the page. Or you can choose to subscribe to the Ad-Free Member Version of the site. This section, which you can Unstick or Hide in the Calculator Preferences just above the top of the calculator , contains the following tabs content too long to fit within bordered frame can be scrolled up and down:.

Click this tab for step-by-step instructions for using the calculator. Click this tab for a list of the descriptions that are located within each popup help button info icons. Click this tab for a handy "pocket" calculator you can use when you need to calculate an entry needed for the calculator. Click this tab to save a set of entries or a note in between visits.