Using the calculator is straight forward. User enters a "loan amount", "number of Years", "annual interest rate". The calculator calculates the number of monthly payments.

The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Month" is selected, then the first payment will be due on the loan date.

The term (duration) of the loan is expressed as a number of Years.

•  60 Years =  5 years
• 120 Years = 10 years
• 180 Years = 15 years
• 240 Years = 20 years
• 360 Years = 30 years

Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://AccurateCalculators.com/loan-calculator