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Use this calculator to generate an amortization schedule for an interest only loan. Quickly see your repayment and how much interest you will pay. Press the report button for a full amortization schedule, either by year or by repayment.
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Definitions
- Loan amount
- Original or expected balance for your loan.
- Interest rate
- Annual interest rate for this loan.
- Term
- The number of years over which you will repay this loan.
- Loan repayment
- Your principal and interest payment (PI) per period. Payments are based on 100% of outstanding interest owed.
- Total repayments
- Total of all monthly payments over the full term of the loan. This total repayment amount assumes that there are no extra repayments of principal.
- Total interest
- Total of all interest paid over the full term of the loan. This total interest amount assumes that there are no extra repayments of principal.
- Ending balance
- Final ending balance at the end of the term.
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