An amortization calculator is used to determine, based on fixed or variable payment schedules, the residual value of the debt either at a certain point in time, or when the debt will be fully paid off.
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An amortization calculator helps you to calculate your monthly loan payments. It also allows you to calculate how much of your monthly payment is going directly towards the principal of the loan versus the interest.
A amortization calculator calculates your monthly loan repayments. It makes it easier for you to determine how much you pay per month.