Loan Matrix Calculator

First, you may ask, "what is a 'matrix calculator'"? A matrix is a rectangular shape created by the intersection of a series of rows and columns. A "matrix calculator" calculates the results that populate the intersection of each row and column. If you look at the screen shot, what we mean will become clear to you.

By virtue of the matrix then, a matrix calculator calculates many results for a various range of inputs. Two inputs may change for any desired calculation. All of our matrix calculators will also give you the choice of what will be calculated.

The advantage a matrix calculator offers, of course, is the time savings in performing "what-if" calculations. Rather than use a single result calculator and keep changing the interest rate, for example, to find the various resulting regular payment amounts, use the matrix calculator and have many payment amounts calculated and visible at the same time with one click of the "Calc" button.

Specifically, with this loan matrix calculator, the user may select having either the regular payment amount calculated or the loan amount calculated. If the payment amount is to be calculated, the user will enter the amount borrowed, an initial assumed term and interest rate and their respective "step" values. The calculator will increase the interest rate along the top of the matrix and increase the term down the matrix and calculate the different payment amounts as the content of the matrix.

Below are more details about this loan matrix...

Periodic Payment calculation: A user wants to borrow a specific amount. What will be the regular payment if the loan is to be fully paid off in 60 periods assuming an initial interest rate of 7.75%? The matrix calculator lets the user set the Initial Annual Rate (quoted interest rate) and the Initial Total Periods. Result: $967.53. The calculator continues with other scenarios. For example, the user learns that if the interest rate is 9.25% and he or she wants to make 180 monthly payments, then the payment amount is $494.01

Amount of Loan calculation: A user can afford a regular payment of $500.00. How much will they be able to borrow if a full pay off is made in 48 periods assuming an initial interest rate of 6.0%? The matrix calculator lets the user set the Initial Annual Rate and the Initial Total Periods. Result: $21,290.16. The calculator continues with other scenarios. For example, the user learns that if the interest rate is 6.75% and he or she wants to make 96 monthly payments, then the amount they can borrow will be $37,010.61.

Note: A matrix can be completely customized and printed on one sheet of paper. It can then be carried with you and used as a handy reference tool.

Features in common for all calculators.

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description of every calculator.

Loan Servicing

Audit Payments

Confirm Balances

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Loan Matrix Calculator screen

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