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 | |||
|---|---|---|---|---|
| Hinta: | 300 000,00 | DKK | ||
| Down payment: | -60 000,00 | DKK | 60 000,00 | DKK |
| Loan amount: | 240 000,00 | DKK | ||
| Loan length: | 24 | months | ||
| Interest rate: | 8,00 | % | ||
| Monthly payment: | 10 854,55 | DKK | ||
| Total payment on loan: | 260 509,20 | DKK | 260 509,20 | DKK |
| Expense in total: | 320 509,20 | DKK | ||
| 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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