Inputs
Formula used
Daily Periodic Rate: DPR = APR / 365
Monthly Interest (approx.): I_m = Balance × DPR × DaysInMonth
Minimum Due: MinDue = max( Balance × (MinRate/100), MinFloor )
Payment Applied: Pay = min( Balance + I_m, MinDue + Extra )
Each month we first add interest, then apply payment: NewBalance = Balance + I_m − Pay. Repeat until balance reaches zero. This approach mirrors daily accrual with a fixed day-count approximation.
Payoff Summary
Months
—
Total Interest
—
Total Paid
—
Payoff Date*
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*Estimated based on the current month and inputs.
Balance & Payment Chart
Example Amortization Table
| # | Month | Beginning Balance | Interest | Principal | Payment | Ending Balance |
|---|
Tip: Use CSV to export the table or PDF to save a formatted copy.