Family loan calculator
Enter the amount, the length and the interest rate to see the monthly payment and a table of every payment. The same table goes into your agreement.
How the payments are worked out
Each payment is the same, apart from the first, which includes interest from the day the money is given, and the last, which is a few cents different so the loan ends at exactly zero. After the first, each payment includes one month’s interest on what is still owed, and the rest pays down the loan.