Simple Loan Calculator
By Clean Micro, LLC
Open iTunes to buy and download apps.
Enter the values and this calculator will figure the payment. The loan can be a mortgage, car loan, or any other simple interest amortization over a fixed time with fixed monthly payments. Also if you want to know how much can you afford, simply go for the affordable loan interface and enter the monthly payment, interest and number of years, the result will be the total affordable loan amount. Keep in mind, your monthly payment should be within a comfortable range of your monthly income, for example, 30%.
CAUTION: Do NOT rely on the results from this calculator to make financial decisions. Interest rates vary and the tax laws change regularly. Please contact us for assistance with your specific concerns.
What's New in Version 1.6
bug fixes for iOS 7
easy to use
Great tool for calculating simple loans. I miss the feature where it tells you how much interest the loan will cost you over the life of the loan. It still shows the amortization schedule, but missing the immediate calculation showing exactly how much total interest the loan will cost you over the life of the loan. It just disappeared off the main screen recently. I am a car salesman and use this app multiple times daily!
1 thing missing
Given a loan amount, this is your monthly payment for 30 years. If in addition to give the required monthly payment I give an extra $100? By how many years would I reduce my loan & how much interest would I have saved? Also, some include some graphs pls.
Very easy to use and extremely helpful when you're trying to negotiate a price and keep payments within a range. No need to guess and gives you the edge when dealing with a customer who is worried more about monthly payment than total price.
- Category: Finance
- Updated: Dec 07, 2013
- Version: 1.6
- Size: 2.5 MB
- Languages: English, Chinese, Simplified Chinese
- Seller: Peter Harrington
- © Clean Micro, LLC
Compatibility: Requires iOS 7.0 or later. Compatible with iPhone, iPad, and iPod touch. This app is optimized for iPhone 5.