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Loan calculation-Manage your finance app for iPhone and iPad


4.2 ( 6112 ratings )
Business Finance
Developer: Nguyen Duc Hoang
Free
Current version: 1.1, last update: 7 years ago
First release : 29 Mar 2017
App size: 57.09 Mb

This app calculates the Amortization Table depending on:
- Money amount that customer want to borrow
- Number of months to borrow
- Interest rate
The Loan Amortization Table is calculated by 2 methods:
-Equal total payment method: each payment includes the accrued interest on the unpaid balance, plus some principal. The amount applied toward the principal increases with each payment.
- Equal principal payment plan also provides for payment of accrued interest on the unpaid balance, plus an equal amount of the principal. The total payment declines over time. As the remaining principal balance declines, the amount of interest accrued also declines.
This app is very useful for people who are working in finance, that need to consult for their customers before buying large assets.