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- Amortization Calculator

**Amortization is the process of repaying a loan in equal, monthly payments.**
This calculator lets you estimate your monthly loan repayments.
The calculator will produce a full explanation of how the computation was carried out.

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Examples

example 1:ex 1:

What is the monthly payment on a mortgage of $12,000 with an annual interest rate of
5.5% that runs for 10 years?

example 2:ex 2:

What is the original value of a mortgage if it is amortized over 10 months
at 7% interest and $25.3 monthly payments?

example 3:ex 3:

You wish to take out a $50000 mortgage with monthly payments of 4.5%,
and you can afford $550 per month. How long would it take for you to pay off the mortgage?

example 4:ex 4:

What is the interest rate on a $23,000 mortgage with $350 monthly payments for ten years?

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