Amortization Calculator

Amortization Calculator Tool Overview

The Amortization Calculator Tool consists of three sections:

1. Form
2. Results
3. Add To Budget
4. Share Feature

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Form

This section allows you to input the necessary details for calculating your loan payment and amortization schedule.

• Required Fields:
  • Loan Amount
  • Years
• Optional Fields (Defaults to 0):
  • Interest Rate
  • Month
• View Options: You can choose to view the results in months or years based on your form selection.

Calculate:

• Once the form is completed, click “Calculate” to process the data.
• Error Handling: Any errors in the form will be displayed and block the calculation.

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Results

The results provided will include:

• Estimated Payment: The estimated monthly payment.
• Amortization Schedule: A complete schedule detailing the loan repayment process, including:
  • Time Period (Monthly or Yearly)
  • Interest Paid
  • Principal Paid
  • Ending Balance

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Add To Budget

• Add To Budget Button: After generating a calculation, an “Add To Budget” button will appear next to the “Calculate” button.
• Functionality: Tapping this button will add a new debt entry to the Debt Information section in BudgetBuilder.
  • Entry Details:
    • Name: “Loan”
    • Balance: The loan amount
    • Interest Rate: The provided interest rate
    • Payment: The estimated payment

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Share Feature

• Share Button: After generating a calculation, a “Share” button will appear at the top right.
• Functionality: Tapping this button will generate a PDF file for sharing.
• Access: Sharing is a premium feature.

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Access

The Amortization calculator is a free feature that is available to everyone.

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