Advanced commercial loan calculator.
Full version and free
Solve for principal, payment, rate or period
Monthly, quarterly, semi-annual, and annual compounding
Constant Payment, Constant Amortization, Interest Only
Calculation type: 360/360, 365/360, 365/365
Calculate balloon payments
Note: The interest calculation type can only be set for preparing the amortization schedule. It will not calculate the payment, rate, etc. if set to a 365/360. Why not? Because it is a complicated calculation that is dependent on the date that the loan is funded. For example, a Bank Rate method loan (365 / 360) that compounds and has a monthly payment could have 12 different answers depending on which month the loan started. Then, how the loan term relates to leap year will increase it to 48 different anwswers. Then, how many times the loan wraps around a leap year will add yet more answers. Since this is not done in practice, the calculator does not make those calculations. Please don't complain and rate the calculator low because it doesn't make a very difficult and impractical calculation. Thanks.
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