![]() This would not include the amount of interest you would be paying based on your interest rate. Loan Amount – Total amount of money you’re looking at borrowing. You can print the amortization schedule to keep track of your payments as you work at paying down your debt.ĭefinitions of Calculator’s Financial Terms The payment / amortization table also shows you what your loan balance will be after each payment. It will also generate a payment schedule or amortization table for the loan so you can see how much of each payment goes toward repayment of the the loan’s principal and how much goes to paying interest. Once you’ve entered all your loan details, click on “View Report” (at the very top of the calculator window) and you can see the amount of interest that you will pay over the life of the loan. Below that, if you click the plus sign in the bottom right hand corner of the graph window, you’ll see a bar graph that shows the amount of each of your payments that goes to pay off your loan (the dark blue lines labeled “principal”) and the amount of each payment that goes to paying the interest on the loan (the light blue lines). Once you enter some numbers into this online calculator, it will show you your loan balance on a chart as a declining dark blue graph (the balance is of course declining as you slowly pay it off). Press the “View Report” button to see a payment schedule. See your principal balances by payment, total of all payments made, and total interest paid. You can also enter in the payment and it’ll calculate your loan amortization amount. How to Use This Canadian Personal Loan Payment Amortization CalculatorĮnter your desired payment and number of payments, select a payment frequency of Weekly, Bi-weekly or Monthly Payments, and the calculator will show your payment for your amortized loan.
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