Make Math Work

Amortize

Usage: Amortize Principal, Term in Months, Interest Rate in Percent

The Amortize command will calculate the monthly payment and display a schedule of amorization based on the inputs.

The Principal is the amount you are borrowing.

The Term, or period, must be entered in months. For example, a 5-year loan would be 60 months.

The Interest Rate must be entered in percent and is the rate for a year. This is the simple interest rate, not the Annual Percentage Rate or APR. For example, if the interest rate is 6 1/4 percent per year, it would be entered as 6.25, not as .0625. Do not enter the percent (%) symbol.

Examples:
Amortize 10000, 24, 5 returns $438.71 and a schedule of 24 payments .
Amortize 12516.25, 54, 4.75 returns 256.88 and a schedule of 54 payments.

Try It

Enter the principal:

Enter the term in months:

Enter the yearly simple interest rate as a percent:

	Try It
	Enter the principal:
	Enter the term in months:
	Enter the yearly simple interest rate as a percent: