|
The "loan payment" simulation will calculate the principal and interest
required to pay off a loan at a specified interest rate
and period of time. For example, it can be used to
determine the payment amount necessary for an automobile loan.
If any four of these five values are completed, the program calculates the fifth value: amount borrowed, annual interest rate, number of payments per year, amortization period in years, payment amount. The annual loan payment schedule can be displayed by specifying the number of years you would like to see from the start date of your loan.
|
|
