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  • Why You Need to Know Inflation?

    A general increase in prices, normally expressed as the annual rate of growth in the consumer or retail price index (the inflation rate). One can also measure inflation in producer...

  • What is Amortization?

    An amortization schedule is a chart that shows each periodic payment on an amortizing loan (e.g. mortgage).

  • APR (Annual Percentage Rate)

    The annual percentage rate (APR) is an interest rate that is different from the note rate of the bank. APR is mainly used to compare loan programs when shopping around for a mortgage or car loan within different lenders.




Amortization Schedule

An amortization schedule is a chart that shows each periodic payment on an amortizing loan (e.g. mortgage). Amortization refers to the process of paying off a debt (often from a car loan or mortgage) over time through regular payments. A portion of each payment is for interest while the remaining amount is applied towards the principal balance. The percentage of interest versus principal in each payment is determined in an amortization schedule. While a portion of every payment is applied towards both the principal balance of loan and interest, the exact amount applied to principal each time varies. An amortization schedule shows the exact monetary amount put towards interest, as well as the exact amount put towards the principal balance, with each payment. At the beginning, bigger portion of each payment is devoted to interest. As the loan gets to its maturity cycle, larger portions go towards paying down the principal. (source: wikipedia)


Amortization Calculator

You can use the below given amortization calculator which is also referred as mortgage calculator to find out length of payment, interest rate or monthly payments.

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