In case you would like to compare different loans, you may make good use of the APR calculator as well. If you are more interested in other types of repayment schedule, you may check out our loan repayment calculator, where you can choose balloon payment or an even principal repayment options as well. For these reasons, if you would like to get familiar with the mechanism of loan amortization or would like to analyze a loan offer in different scenarios, this tool will be of excellent help. If you read on, you can learn what the amortization definition is, as well as the amortization formula, with relevant details on this topic. You can also study the loan amortization schedule on a monthly and yearly bases, and follow the progression of the balances of the loan in a dynamic amortization chart. The main strength of this calculator is its high functionality, that is, you can choose between different compounding frequencies (including continuous compounding), and payment frequencies You can even set an extra payment. The amortization calculator or loan amortization calculator is a handy tool that not only helps you to compute the payment of any amortized loan, but also gives you a detailed picture of the loan in question through its amortization schedule.
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