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- Amortization Calculator

**Amortization is a repayment of a loan in an equal periodic payments.**

This amortization calculator lets you estimate your monthly loan repayments.
The calculator will generate a **detailed explanation** on how to create an amortization payment schedule for input loan terms.

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examples

example 1:ex 1:

What is the monthly payment on a mortgage of $\$12000$ with annual interest rate of $5.5\%$ that runs for $10 \, \text{years}$.

example 2:ex 2:

If a mortgage is amortized over $10 \, \text{months}$ at an interest rate of $7 \%$ and monthly payments of $\$25.3$, what is the original value of the mortgage?

example 3:ex 3:

You want to take out a mortgage for $\$50000$ with monthly payments at $4.5\%$, and you can afford $\$550$ per month payments.
How long would you have to make payments to pay off the mortgage.

example 4:ex 4:

What is the interest rate on a mortgage of **\$23000** with an **\$350** monthly payments that runs for **10 years**.

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** Please tell me how can I make this better.**

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