How to use this tool
Check the units, enter your values, and run the tool. Results follow the assumptions and method below.
Calculation method
Regular monthly payment
rate == 0 ? principal/amortization : principal*(rate/1200)/(1-(1+rate/1200)^(-amortization))Balance after final regular payment
rate == 0 ? principal*(1-term/amortization) : principal*(1+rate/1200)^term-principal*(rate/1200)/(1-(1+rate/1200)^(-amortization))*((1+rate/1200)^term-1)/(rate/1200)