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Steve Jones, CPA, CFP®

Calculators


Got a question that involves number crunching? Use the calculators on this page to find the mathematical answer to the most commonly asked number-crunching questions, and see your inputs displayed next to the graph, chart, and/or table output in a side-by-side display.

Calculator: Print This Page
Loan Amortization Calculator
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Before making a large purchase, it's likely that many questions will arise, particularly in regard to financing. For example:


What will the monthly payment be?


How will the loan term affect the monthly payment (e.g., 15-year, 30-year)?


How will the interest rate affect the monthly payment?


This calculator can be used to answer these questions and illustrate key issues.


Enter the required values to calculate the monthly payment, and select the desired output. An annual amortization table and two charts comparing principal and interest payments can be generated.


Loan Amortization Calculator Results
Monthly payment: $421.60Total payments: $151,777Total interest: $51,777

Your monthly payment is: $422

This chart shows the part of your yearly payments that is applied to interest and the part that is applied to principal.

Over time, though your payments stay the same, the interest portion decreases, and the principal portion increases.


Over the term of your loan you have total payments of $151,777, of which $51,777 is interest payments.



    Assumptions

  • Calculation assumes constant monthly payments over the life of the loan, monthly calculation of interest on the remaining unpaid principal, and no prepayment. Only principal and interest payments are included; property tax and/or insurance payments are not included.
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IMPORTANT NOTE: Steve Jones is a registered representative with the following registrations 6, 63, 7 and can transact business with clients in CO, IN, KS, NY.  Steve Jones is also an investment adviser agent licensed in IN. If you are not a resident of the states noted above, all investment-related information on this site is for informational purposes only and does not constitute a solicitation or offer to sell securities or investment advisory services over the internet. Such an offer can only be made and Steve Jones can only conduct business in states where Steve Jones is registered to conduct business. Any communication with a prospective client shall be conducted by Steve Jones only if he is registered in the state where the prospective client resides.
Securities offered through H.D. Vest Investment ServicesSM, Member SIPC
Advisory Services offered through H.D. Vest Advisory ServicesSM
6333 North State Highway 161, Fourth Floor
Irving, TX 75038 972-870-6000
www.finra.org

FMR CPAs & Advisors is not a registered broker/dealer or independent investment advisory firm.


This communication is strictly intended for individuals residing in the state(s) of CO, IN, KS and NY. No offers may be made or accepted from any resident outside the specific states referenced.
 


Check the background of this financial professional on FINRA's BrokerCheck.