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Loan Repayment Calculator

This is a simple but effective loan (home mortgage or car loan for example) repayment calculator

This is a simple but effective loan (home mortgage or car loan for example) repayment calculator

Loan Repayment Calculator

by Giles Morris
Loan Repayment Calculator

What is it about?

This is a simple but effective loan (home mortgage or car loan for example) repayment calculator. You can use it to check your loan repayments!

Loan Repayment Calculator

App Details

Version
1.0
Rating
NA
Size
19Mb
Genre
Finance Utilities
Last updated
December 14, 2016
Release date
December 14, 2016
More info

App Store Description

This is a simple but effective loan (home mortgage or car loan for example) repayment calculator. You can use it to check your loan repayments!

Variables:

Loan Amount: This is the amount you wish to borrow.

Final payment: This is the last loan repayment (sometimes known as a balloon payment or the residual value). If you are purchasing a car, for example, you may wish to set the final payment to equal your estimate of the residual value of the car at the end of the loan period.

Interest p.a. (%): This is the annual interest rate.

Term (years): This is the total duration of the loan, in years. You can use fractions of a year, for example use 3.5 years for a term of 3 years and 6 months.

Select interval: This is the frequency of the loan repayments.

Results:

Repayments: These are the periodical loan repayments.

APR (%): This is the "annual percentage rate" charge which all UK loan providers must disclose. This amount gives you a comparable interest rate whichever lender you select.

Total interest: This is the total amount of interest paid on the loan.

PLEASE NOTE that your use of these calculators should not be treated as financial advice and is entirely at your own risk.

Disclaimer:
AppAdvice does not own this application and only provides images and links contained in the iTunes Search API, to help our users find the best apps to download. If you are the developer of this app and would like your information removed, please send a request to [email protected] and your information will be removed.