My Loan Calculator computes periodic loan payments on fully amortized loans. You simply enter the amount borrowed, the interest rate, the loan term, and the payment frequency. In addition, the program will compute the loan amount given the other loan variables. The latter computations can be helpful in determining how much you may be able to borrow, or under what conditions, you can afford to borrow.
The app also displays a complete amortization table. This table shows how much of each payment goes to interest and how much goes to principal. Cumulative amounts are also displayed in the schedule along with the running loan balance.
