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Online calculation of a loan
We bring to your notice a simple online calculator of credits. If you would like to determine a term for credit repayment, then you should specify amount of credit, an interest rate, bank w the credit is made and amount of payment, you would like to pay monthly.
Annuity payment - is an equal by the sum monthly payment on the loan, which includes the amount of accrued interest for the loan and the amount of the base debt.
Today the most of commercial banks use mainly annuity payments when lending virtually in all types of loans issued to individuals, because this type of calculation allows them to get higher interest income, and provides to the customer convenience in the calculations. You will agree with me that it is very convenient and not a trouble to pay the same amount of loan repayment and interest each month, that this sum is easy to remember and, moreover, you do not need to meet each month the consultant of the bank to determine the regular payment amount.
Equal monthly payment is calculated by a mathematical formula of annuity payment:
Monthly annuity payment = OSZ x PS / [1 - (1 + PS)-PP]
Used indicate in the formula:
OSZ - balance of the loan debt (the sum of liabilities) on the settlement date;
PS - monthly interest rate equal to 1 / 12 of an annual interest rate set in the amount of loan obligations and agreed in the loan agreement;
PP - number of interest periods (months) remaining until the final repayment of outstanding loans.
OSZ - balance of the loan debt (the sum of liabilities) on the settlement date;
PS - monthly interest rate equal to 1 / 12 of an annual interest rate set in the amount of loan obligations and agreed in the loan agreement;
PP - number of interest periods (months) remaining until the final repayment of outstanding loans.
