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Simple Loan Calculator and Amortization Table1

The document shows a loan calculator for a $18,990 loan with an annual interest rate of 77.91% over 1 year. It calculates that the monthly payment would be $2,326.67, with total interest of $8,930.01 and a total cost of loan of $27,920.01 over the 12 monthly payments. It then provides an amortization schedule showing the payment dates, beginning balance, payment amount, amount applied to principal and interest, and ending balance for each of the 12 monthly payments.

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Justine Jay Chatto Alderite
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72 views7 pages

Simple Loan Calculator and Amortization Table1

The document shows a loan calculator for a $18,990 loan with an annual interest rate of 77.91% over 1 year. It calculates that the monthly payment would be $2,326.67, with total interest of $8,930.01 and a total cost of loan of $27,920.01 over the 12 monthly payments. It then provides an amortization schedule showing the payment dates, beginning balance, payment amount, amount applied to principal and interest, and ending balance for each of the 12 monthly payments.

Uploaded by

Justine Jay Chatto Alderite
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 7

Simple Loan Calculator

Enter values
Loan amount $ 18,990.00
Annual interest rate 77.91%
Loan period in years 1
Start date of loan 1/11/2023

Monthly payment $ 2,326.67


Number of payments 12
Total interest $ 8,930.01
Total cost of loan $ 27,920.01

Effective Interest Rate


Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance
1 2/11/2023 $ 18,990.00 $ 2,326.67 $ 1,093.68 $ 1,232.99 $ 17,896.32 6.4928%
2 3/11/2023 $ 17,896.32 $ 2,326.67 $ 1,164.69 $ 1,161.98 $ 16,731.63 6.4928%
3 4/11/2023 $ 16,731.63 $ 2,326.67 $ 1,240.31 $ 1,086.36 $ 15,491.32 6.4928%
4 5/11/2023 $ 15,491.32 $ 2,326.67 $ 1,320.84 $ 1,005.83 $ 14,170.48 6.4928%
5 6/11/2023 $ 14,170.48 $ 2,326.67 $ 1,406.60 $ 920.07 $ 12,763.88 6.4928%
6 7/11/2023 $ 12,763.88 $ 2,326.67 $ 1,497.93 $ 828.74 $ 11,265.95 6.4928%
7 8/11/2023 $ 11,265.95 $ 2,326.67 $ 1,595.19 $ 731.48 $ 9,670.76 6.4928%
8 9/11/2023 $ 9,670.76 $ 2,326.67 $ 1,698.76 $ 627.91 $ 7,971.99 6.4928%
9 10/11/2023 $ 7,971.99 $ 2,326.67 $ 1,809.06 $ 517.61 $ 6,162.93 6.4928%
10 11/11/2023 $ 6,162.93 $ 2,326.67 $ 1,926.52 $ 400.15 $ 4,236.42 6.4928%
11 12/11/2023 $ 4,236.42 $ 2,326.67 $ 2,051.60 $ 275.06 $ 2,184.81 6.4928%
12 1/11/2024 $ 2,184.81 $ 2,326.67 $ 2,184.81 $ 141.86 $ 0.00 6.4928%
$ 18,990.00 $ 8,930.01
Effective Interest Rate
Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance

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Effective Interest Rate
Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance

Page 3 of 7
Effective Interest Rate
Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance

Page 4 of 7
Effective Interest Rate
Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance

Page 5 of 7
Effective Interest Rate
Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance

Page 6 of 7
Effective Interest Rate
Payment Beginning Ending
No. Date Balance Payment Principal Interest Balance

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