Loan Amount =

Years =

Interest/Yr =

Month = 1

Payment =

Calculates a series loan payment amount for any given month. With conventional loans (annuity loans), the payment amount remains the same throughout the loan and the amounts applied to principal and interest change. With a series loan, the payment amount changes each month. The principal remains the same, but the interest paid changes.

- Loan Amount: Amount of the loan.

- Years: Years for the loan.

- Interest/Yr%: Annual interest rate for the loan expressed as a percentage.

- Month: Month in the loan term to calculate.

- Payment: Designates month's series payment amount.

You are applying for a 5 year, 6%, 100.000,00 euro loan. What is the payment in the first, 13th (first month of year 2) and last (60th) months of the loan?

- Loan Amount: 100,000

- Years: 5

- Interest/Yr%: 6

- Month: 1

Select "=" on Payment row. 2.166,67 euros is due in the first month.

- Month: 13

Select "=" on Payment row. 2.066,67 euros is due in the 13th month.

- Month: 60

Select "=" on Payment row. 1.675,00 euros is due in the 60th month.

Loan Amount

Years

Interest/Yr

Month

Payment

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