The Simple Loan Calculator allows the users to calculate their loan monthly payment amount, total payable amount, and total interest. The system requires the users to enter the loan principal amount, annual interest rate, and loan terms (year). The computation results will be presented to users below the form in a table.
- PMT = Regular/Monthly Payment Amount
- P = Loan Principal Amount
- APR = Annual Interest Percentage Rate
- n = Number of Payment Periods per Year
- Y = Loan Term in number of years