Instructions:
Loan Amount: Enter the total amount of the loan you wish to calculate.
Term in Years: Specify the length of time over which you will repay the loan.
Interest Rate: Input the annual interest rate for your loan.
Extra Payments (Optional): Add any additional payments you plan to make to reduce your principal balance faster and see how much faster you can pay off your loan.
Click “Calculate” to view your amortization table, which will show you a snapshot every 12 months. This calculator can also be used for car payments or other installment loans. Simply fill in the fields and let the calculator do the work for you. Happy calculating! 🏡🚗💡