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An annuity is an investment that provides a series of payments in exchange for an initial lump sum or contributions over time. With this annuity calculator, you can find the annuity payment that would deplete the fund in a given number of years, the principal amount needed to generate a specific payment, or the number of years your investment will generate payments at your specified return.

An amortization calculator is a tool that helps you break down your loan repayments over time. It provides a detailed schedule of how much of each payment goes toward the principal and how much goes toward interest, allowing you to understand how your loan balance decreases over the loan period.

The amortization calculator takes into account your loan amount, interest rate, and loan term to create a repayment schedule. With each payment, a portion is allocated to interest, and the remainder goes to reducing the principal amount. Over time, the interest decreases while the principal portion of your payment increases.

Using an amortization calculator helps you plan your finances better by providing insights into the total cost of the loan, the duration it will take to pay it off, and how much interest you will pay over the life of the loan.