You can check the cash balances below.
Enter the amount of the loan. The amount must be either: 0 if you do not have a loan, or a positive number.
Enter the Annual Interest Rate.
The Amortization Schedule uses simple interest. The schedule assumes monthly payments. Most loans are calculated this way.
An Interest rate of 6.5 percent should be entered as 6.5% or .065. You must either enter the interest rate with the '%' sign or divide the interest rate by 100 and enter that number. Do not enter 6.5 with out a '%' sign.
Enter the number of monthly payments. Any integer between 1 and 1,800 is valid.
Select the month the loan money is received.
Select the month you will begin making payments on the loan. You must receive the loan money before the first payment is made, so this date must occur after the "Month Loan Money is Received". Normally your first payment is 1 month after the date you receive the loan.