Loan Repayment Calculator
The Loan Repayment Calculator is an online tool designed to help you estimate your regular loan repayments. By entering your loan amount, annual interest rate, loan term, and selecting your repayment frequency (monthly, fortnightly, or weekly), the calculator uses the standard annuity formula to compute the periodic payment. This gives you a clear view of your financial commitment over the life of the loan.
How It Works
Enter Your Loan Details:
Input the total amount of your loan, the annual interest rate, and the loan term in years.
Select Repayment Frequency:
Choose whether you want to view your repayments on a monthly, fortnightly, or weekly basis.
Calculation Process:
The calculator determines the number of payments and converts the annual interest rate into a periodic rate. It then applies the annuity formula to calculate the regular repayment amount.
Clear, Readable Results:
The computed repayment is displayed in an easy-to-read format, helping you understand your potential monthly, fortnightly, or weekly financial obligations.