--LOAN AMORTIZATION CALCULATOR--
WHAT IS LOAN AMORTIZATION CALCULATOR?
This calculator requires users to input the Loan Amount, Annual Interest Rate, and Loan Term in years. It then calculates the monthly payment and generates an amortization schedule showing how each payment is split into principal and interest, as well as the remaining balance after each payment.
- Loan Amount: Enter the total amount of money borrowed.
- Annual Interest Rate: Input the yearly interest rate of the loan as a percentage.
- Loan Term: Specify the duration of the loan in years.