This application implements a calculator to get annuity calculations based on compound interest.
It is applicable to many payment scenarios, like car payments, furniture, or small debts.
Jose Luis Barrera Canto
This application implements a calculator to get annuity calculations based on compound interest.
It is applicable to many payment scenarios, like car payments, furniture, or small debts.
Using slider you must indicate how much is the initial loan amount, ranging from $50,000.00 to $250,000.00 USD.
Using slider you must indicate how many years do you want to spend paying your loan, ranging from 1 to 5 years.
You can select from options, which annual frequency of payment you do want (number of payments to make in the year). You can select 12, 6, 4, 3 and 2 payments corresponding to monthly, bimestral, trimestral, quatterly and semi annual frequency.
You can select between 12% to 15% compound annual rates of interest to make calculations.
It's the amount of the initial loan in USD.
It's the amount of the loan at the end of period, accumulating all interests as if no payment was made. It is equivalente to initial loan amount plus all interest calculated during all period of debt at specified rate.
It is the total amount minus the initial amout of loan.
It is the product of frequency by year, calculating the total quantity of payments to be made during the selected period of years, according to the frequency indicated.
It is the calculation of annuity, the periodic amount of payment to be made during the debt period. This is a fixed amount, considering the rules of compound interest.
This calculator applies the formulas corresponding to annuity calculations based on compound interest.
For this application, the type of annuity is simple, certain, pay at due and inmediate.