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Credit Counselling Services of Atlantic Canada, Inc. Credit Counselling Services of Atlantic Canada, Inc. Credit Counselling Services of Atlantic Canada, Inc.
Credit Counselling Services of Atlantic Canada, Inc. Credit Counselling Services of Atlantic Canada, Inc. Credit Counselling Services of Atlantic Canada, Inc.
 
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Loan & Line Of Credit Payment Calculator

Line of Credit and Loan Payments Calculator

This calculator helps determine your loan or line payment. For a loan payment, select fixed term loan. For a line payment, you can chose the amount of the outstanding balance to pay each month or an interest only payment.

This Financial Calculator requires SUN's Java™ Plug-in. If you see this message you will need to download SUN's Java™ Plug-in. This can be done automatically by clicking the yellow bar at the top of your browser and choosing “Install ActiveX Control”.

    You can also get SUN's Java™ Plug-in here: Get the Java™ Plug-in!

    For more information about this Plug-in please visit: SUN's Java™ Plug-in
    For more information these financial calculators please visit: Financial Calculators from KJE Computer Solutions, LLC


Definitions

Loan amount

Total dollar amount of your loan.

Annual interest rate

The annual percentage rate for this loan or line of credit.

Term in months

Number of months for this loan or line of credit.

Fixed loan term

Traditional amortization produces a fixed monthly payment. The monthly payment calculated will leave a zero balance at the end of the loan's term.

5%, 5.5% or 6% of balance

Your minimum payment is calculated as a percentage of the outstanding principal balance. Your minimum payment will change each month, and if you only make the minimum payment your balance will not be zero at the end of your loan's term.

Interest only payment

For lines interest only, your payment is 100% of the interest accrued during the month but no principal. Your payment may not be fixed if your interest rate or principal balance changes.




 
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