Amortization is an accounting term that describes the change in value of intangible assets or financial instruments over time. If you’ve ever wondered how much of your monthly payment will go toward interest and how much will go toward principal, an amortization calculator is an easy way to get that information.
With this app, simply enter in the loan amount to calculate monthly payments, along with your principal balances by payment, total of all payments made and total interest paid.
Best features:
1. A few steps to enter loan amount, enter interest rate and loan terms. Touch on "Calculate" to calculate your monthly payment.
2. Dont know exactly your loan amount? Use second option "Amount". Enter your affordable amount of your monthly payment then you will know how much you can loan.
3. Extra payment feature will help you to calculate how quickly your loan can be paid off.
4. Pie Chart will show the percentage of interest or principal over the total loan amount.
5. The bar chart shows both principal and interest paid over the length of the loan on the same bar
6. An amortization schedule gives you a complete breakdown of every annually or monthly payment, showing how much goes toward principal and how much goes toward interest. It can also show the total interest that you will have paid at a given point during the life of the loan and what your principal balance will be at any point.
7. Save last calculation so that you dont have to enter again
8. Easy to share the result in Print-Friendly PDFs with your friends in chat, email, social network ...
9. A financial terms dictionary is included to help users learn and master some of the key finance and accounting terms used in business.
10. This calculator still works even when you are offline.
Feel free to send me support email for any new features you wish to have or to customize.
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Disclaimer:
This calculator is made available to you as a self-help tool for your independent use and is not intended to provide investment advice.