by CI Staff
Loan Calc is a simple tool designed to help you calculate loan repayment amounts. The program generates a full repayment list from a start date and allows you to select both period and how interest is compounded. In addition, Loan Calc allows you to save the repayment list as a text file or Excel worksheet.
Loan Calc is very simple to use. After you open the program, there are several inputs that can be modified. First, start by choosing the amount of the loan, interest rate, term and start date. You are also able to adjust the period of the loan term with options that range from weekly to annually (and include less frequently used periods such as four weeks, two months and four months). Users can also adjust the compounding period. Options include those offered for the term period. In addition, you can select continuous compounding.
Clicking on Compute at the top of the program will provide the results of your loan calculation. The table that is generated shows the repayment amount, total payments, total terms, interest, monthly interest and total interest. The chart at the bottom provides the date of each payment along with the principal repaid, interested charged, repayment amount, balance and interest percentage for each payment.
Finally, the results can be exported as an Excel worksheet, plain text file, or HTML page.
You can use the program free of charge for an unlimited amount of time. If you are using the trial version, when you open the program, there will be a pop-up asking you to purchase the program. In addition, a pop-up window will appear urging you to purchase after you have computed three separate loan payment schedules per session. The paid program costs $20.00.
System Requirements: Windows 2000 or newer; Mac OS X or newer
Price: $20.00; free unlimited trial