Generic Mortgage Loan Calculator
This calculator will create a loan schedule if you give it any loan amount,
any rate, any term, any compounding frequency.
To match the math that banks use, I am always going UP with
partial pennies on calculated interest so that $99.002 becomes $99.01,
not $99.00 like I used to
calculate when I rounded to the nearest penny. Those extra pennies add up!
Here is a prettier PHP version and here is one that
writes the output to a PDF file for saving/printing.
Your interest rate per period is 0.3125 % for 12 total periods ( 1.0000 years)
| Period | Years | Balance | Interest | Principal |
|---|
| 1 | 0.083 | 10000.00 | 31.25 | -31.25 |
| 2 | 0.167 | 10031.25 | 31.35 | -31.35 |
| 3 | 0.250 | 10062.60 | 31.45 | -31.45 |
| 4 | 0.333 | 10094.05 | 31.55 | -31.55 |
| 5 | 0.417 | 10125.60 | 31.65 | -31.65 |
| 6 | 0.500 | 10157.25 | 31.75 | -31.75 |
| 7 | 0.583 | 10189.00 | 31.85 | -31.85 |
| 8 | 0.667 | 10220.85 | 31.95 | -31.95 |
| 9 | 0.750 | 10252.80 | 32.04 | -32.04 |
| 10 | 0.833 | 10284.84 | 32.15 | -32.15 |
| 11 | 0.917 | 10316.99 | 32.25 | -32.25 |
| 12 | 1.000 | 10349.24 | 32.35 | -32.35 |
| 13 | 1.083 | 10381.59 | 32.45 | -32.45 |
Total Payments: $ 0.00
Total Interest $ 414.04
DISCLAIMER: This information is for illustrative purposes only.
Numbers may be off by $0.01 per month due to differing methods of rounding so
the
results are not exact. Also note that the schedule generated here applies only
to a loan where all payments are made in full in a timely manner. It does not
include any late fees or additional accrued interest due to late payments.
Hugh - To Calculators
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