Monthly Payment Calculator - Payment Calculation icon

Monthly Payment Calculator - Payment Calculation

1.2 · Sep 14, 2020

Download Monthly Payment Calculator - Payment Calculation APK for Android - Free - Latest Version

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Latest Version

Version1.2 (3)
UpdatedSep 14, 2020
DeveloperPH Solution
IDcom.calculator.monthly_payment
Installs10+
CategoryApps, Tools

Monthly Payment Calculator - Payment Calculation app

A simple and excellent app to calculate the amount you need to pay in a monthly

A simple and excellent app to calculate the amount you need to pay on a monthly basis for a loan or in investments.

The Monthly Payment Calculator App can determine the monthly payment amount or loan term for a fixed interest loan.

Use our monthly payment calculator app to determine your total monthly payment on all your fixed term loans and lines of credit. Monthly payment requirements can vary, depending on whether you have a fixed loan or a line of credit that allows much smaller payments.

Formulas for calculating monthly payments :

Typically, these calculations show you how much you need to pay each month on the loan—and whether it'll be affordable for you based on your income and other monthly expenses.

I)Amortizing loans: Amortizing loans involve paying toward both principal and interest over a set period of time, such as with a five-year auto loan.

Formula : a/{[(1+r)^n]-1}/[r(1+r)^n]=p

where,
a = principal balance or total loan amount
r = periodic interest rate (annual rate divided by the number of payment periods)
n = total number of payment periods
p = monthly payment amount

II)Interest-only loans: With interest-only loans, you don’t pay down any of the principal in the early years—only interest.

Formula : a*(r/n) | ( a*r)/12

where,
a = the borrowed amount
r = the annual interest rate
n= number of payments per year

III)Credit card loans: When using a credit card, you're given a line of credit that acts as a reusable loan so long as you pay it off in time. If you're late on making monthly payments and begin to carry a balance, you'll likely be charged interest.

Formula : p = a*(m/100)

a = balance amount in credit card
m = percentage amount of the balance

KEY FEATURES
helps determine the monthly payment in just seconds.
The parameters which you have to enter are :
present value i.e; the fixed term amount
rate of interest i.e; the yearly interest rate
compounding frequency i.e; the
frequency or number of times per year
that interest is compounded
periods until maturity i.e; total number
of years
it allows you to calculate payments with different compounding and payment frequencies.

All you need to do is provide the present value, rate of interest per year, the compounding frequency, and a number of periods..only these 4 variables to generate your monthly payment in just seconds.

Be financially balanced by using this wonderful app.. as you earn money working very hard every month we want you to spend the money by calculating wisely!!!

Monthly Payment Calculator is brought to you by PH Solution and it costs nothing.

Download this app now!!!

Email: support@phsolution.tech

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