Amortization calculator

Como usar a Amortization calculator

O que calcula e quando usar

An amortization schedule shows how every payment on a fixed-rate loan é split between interest e principal. Use it a see how slowly the balance falls in the early anos, Até Encontrar your final payment Data e to test the effect de paying extra each mon.ª.

Como usar, passo a passo

1. Enter the Quantidade you are borrowing, the Anual Juros Taxa e the term em years.
2. Add an extra Mensal Quantidade if you plan a overpay.
3. Choose the mon.ª de your first payment so the schedule shows real dates.
4. Read the payment, total Juros e final payment month, then open the year-by-year ou month-by-month schedule.

O que significa cada campo

• Valor do empréstimo – The Quantidade Emprestado, antes fees.
• Taxa de juros – The Anual Taxa on the loan. It é divided by 12 a get the monthly rate.
• Prazo – The number de years over which the loan é repaid.
• Extra por mês – Optional. Added a every payment e applied entirely a principal.
• First payment Seg.ª – The mês the first payment falls due.

Como ler os resultados

• Pagamento mensal – The fixed Quantidade due Cada mês. It stays the same até the loan é repaid.
• Juros totais – Everything you Pagamento above the Quantidade Emprestado.
• Final payment – The mês the Saldo reaches zero.
• Schedule – Principal, Juros e remaining balance por each year ou mês.

A fórmula

Payment = P × r ÷ (1 − (1 + r)^−n). P é the amount borrowed, r é the yearly rate ÷ 12 e n é the number de monthly payments. Each month, interest = balance × r e principal = payment − interest. When the rate é 0 the payment é simply P ÷ n.

Um exemplo prático

Borrow 300,000 at 6.5% por 30 years. The monthly payment é 1,896.20 over 360 payments, so you repay 682,633 e 382,633 of that é interest. In year 1 only 3,353 of the 22,754 paid reduces the loan. Adding 200 a month cuts the term by several anos e saves a six-figure sum de interest.

Premissas e limites

• The rate é fixed por the whole term. Variable e tracker loans will change the schedule.
• Payments are monthly e made on time. Fees, insurance e taxes are not included.
• Extra payments reduce principal immediately. Some lenders apply them A the next anniversary, ou limit them.

Erros comuns

• Entering a Mensal Taxa em the Anual Taxa caixa.
• Reading the first-year principal as the loan reducing slowly through lender error. Early payments are interest-heavy by design.
• Forgetting that a lender may charge an early repayment fee.

Perguntas frequentes

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