3 Essential Websites About Calculating Principal And Interest For Loans
…what are your feelings when you hear the word LOAN?
…I used to think it was bad to have loans…
…now I know that it’s actually great, if you understand what you are doing and why you are doing it…
…here are some websites that will help you calculate your own payment (amortization) schedules for loans that you might take out, or that you might loan out to others…
-
Bank Rate’s Amortization Calculator
This one is really easy to use…
…write in the amount you are borrowing, and the number of years that you are going to pay it off, and the interest rate…
…you can even write in if you want to put in money for extra payments…
…it will pump out the schedule (press the button “Show Amortization Schedule”)…
…it will show you your payment and how much interest and principal you are paying with each…
…since the schedule has only one date per line, it is ideal if you want to copy it into excel…
Click Here to Learn More About Bank Rate’s Amortization Calculator
-
MyAmortizationChart.com Auto Loan Payment Chart Calculator
…this is actually the same calculator, except it prints the chart automatically for you…
..it also write out a sentence and tells you how much you will pay in principal and interest and what your total payment will be…
…although it says it’s an auto loan payment chart, it uses the same math as the BankRate link above…
Click Here to Learn More About MyAmortizationChart.com Auto Loan Payment Chart Calculator
-
Vertex42 Loan Amortization Calculator
…this one even has a demo to go through…
…it has definitions so you can understand the words in the calculator like “term of loan” and “payment date”…
…it pumps out a table just like the other two sites and gives you another table to see what would happen if you did different payment types…
…I think this is a great resource and easy to use page!
Click Here to Learn More About Vertex42 Loan Amortization Calculator
…I think it’s important to understand how much we pay for our loans…
…please share this post with the people you care about so that they can understand more about the debt that they owe…
…and share it with those who are lending money and need to create their own schedules!