Loan Calculation

This loan calculator is excellent to provide loan estimates, and to calculate 'what if ...' scenarios.

Down payment: Some banks and finance companies require the client to pay a certain amount (e.g. minimum 20% of the price) as down payment.

Remark: Many banks and finance companies request an initial fee to establish the loan and an additional annual fee to manage the loan. These fees are not included in this calculation. Contact your bank or finance company in order to get an exact calculation.

	Calculation		Expense
Price:	300,000.00	EUR
Down payment:	-60,000.00	EUR	60,000.00	EUR
Loan amount:	240,000.00	EUR
Loan length:	24	months
Interest rate:	8.00	%
Monthly payment:	10,854.55	EUR
Total payment on loan:	260,509.20	EUR	260,509.20	EUR
Expense in total:			320,509.20	EUR

Amortization Schedule
Month	Payment	Interest Paid	Principal Paid	Remaining Balance
0				240,000.00
1	10,854.55	1,600.00	9,254.55	230,745.45
2	10,854.55	1,538.30	9,316.25	221,429.20
3	10,854.55	1,476.19	9,378.36	212,050.84
4	10,854.55	1,413.67	9,440.88	202,609.96
5	10,854.55	1,350.73	9,503.82	193,106.14
6	10,854.55	1,287.37	9,567.18	183,538.96
7	10,854.55	1,223.59	9,630.96	173,908.00
8	10,854.55	1,159.39	9,695.16	164,212.84
9	10,854.55	1,094.75	9,759.80	154,453.04
10	10,854.55	1,029.69	9,824.86	144,628.18
11	10,854.55	964.19	9,890.36	134,737.82
12	10,854.55	898.25	9,956.30	124,781.52
13	10,854.55	831.88	10,022.67	114,758.85
14	10,854.55	765.06	10,089.49	104,669.36
15	10,854.55	697.80	10,156.75	94,512.61
16	10,854.55	630.08	10,224.47	84,288.14
17	10,854.55	561.92	10,292.63	73,995.51
18	10,854.55	493.30	10,361.25	63,634.26
19	10,854.55	424.23	10,430.32	53,203.94
20	10,854.55	354.69	10,499.86	42,704.08
21	10,854.55	284.69	10,569.86	32,134.22
22	10,854.55	214.23	10,640.32	21,493.90
23	10,854.55	143.29	10,711.26	10,782.64
24	10,854.55	71.88	10,782.64	0.00

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