Interest Only |
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Interest Only |
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Interest Only
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Interest Only |
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Interest Only |
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You can use the Fixed Rate Loan Form to evaluate Interest Only Loans.
Let us look at the following example.
Interest Only - EXAMPLE |
Gato Construction Ltd. purchases $25,000.00 of building supplies from National Lumber on September 15, 2011. The purchase is made on National Lumber’s credit plan. The plan requires interest only payments for 10 months and then a repayment of the loan balance. The interest rate is 16.5% per annum, compounded monthly. The first interest payment is on October 15, 2011. |
Solve The monthly interest payments and final payment.
Enter the data as shown in the picture below.
Press 
the MAKE table button.
From the table, we can see that the monthly payments will be $343.75 and the final payment amount will be $25,343.75
including the final interest amount.
This schedule can easily be printed out using the CREATE REPORT button.
Goto: Percent Step