The "loan payment" simulation will calculate the principal and interest required to pay off a loan at a specified interest rate and period of time. For example, it can be used to determine the payment amount necessary for an automobile loan!
If any four of these five values are completed, the program calculates the fifth value: amount borrowed, annual interest rate, number of payments per year, amortization period in years, payment amount. The annual loan payment schedule can be displayed by specifying the number of years you would like to see from the start date of your loan.
Fill in the values for any Four of the first Five items below. The Fifth item will be calculated and displayed.