How will you use this calculator?
It is very easy to use this calculator.
Enter the following values to use this calculator:
1. Loan Amount (Equipment value minus downpayment)
2. Annual Percentage Rate (APR)- constant 25%
3. Loan terms (Years)- Lease Tenure
4. Loan Date (mm/dd/yy)
5. Payment type. It is a drop-down list. You will get two types of payments. End of the Period and Beginning of the Period. Choose one that suits your loan
6. Payment frequency: It is also a drop-down list. You can choose payment frequencies: Weekly (7 Days), Bi-weekly (14 Days), Semi-monthly (15 Days), Monthly (1 Month), Bi-monthly (2 Months), Quarterly (3 Months), Semi-annually (6 Months), Yearly (12 Months)
7. Interest Compounding Frequency: In most cases, your Payment frequency will be equal to Interest Compounding Frequency. In some countries, for example Canada, Interest is compounded semi-annually but payment is done monthly. So, except rare cases, your Payment frequency will be always equal to Interest Compounding Frequency.
Note: There are no other values to input. The rest will be handled by the Calculator.
| Loan amount: | ||
| Annual percentage rate (APR): | ||
| Loan terms (Years): | ||
| Loan date (mm/dd/yy): | ||
| Payment type: | ||
| Payment frequency: | ||
| Interest Compounding Frequency: | ||
| Scheduled Semi annually payment: | ||
| Scheduled number of payments: | ||
| Interest rate(Per Period): | ||
| Payment Type: | ||
Reducing Rate of Interest Calculator
| Total Payments: | ||
|---|---|---|
| Total Interest Paid: |
Calculator Output Summary
| No. | Payment Date | Beginning Balance | Scheduled Payment | Interest Paid | Principal Paid | Ending Balance |
|---|
Working and closing hours and days
Mon – Friday, 8AM – 5PM
Saturday and Sunday: Closed
For more information visit our social media
Patel Building 4th floor, Kisutu Street
P.O Box 9490
+255 (0)222110394
Dar es Salaam.
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