You might not be new to the word loan. But maybe this is your first time of knowing about loan calculator. What is loan calculator, loan calculators are online or web based calculators that helps a borrower understand his/her loan. Loan calculators accepts some data from you and give you result as to how your loan looks like after a period of months.
The Mntrends Loan calculator is aimed at helping you know understand a loan. This in turns helps you in making a better decision as to the type of loan you need.
WHY USE THE MNTRENDS LOAN CALCULATOR
First it is very simple and easy to understand. Although its interface is simple it also gives in depth and near accurate results and analysis of your loan option. With the Mntrends Loan calculator you won’t have to face any complicated interface before you can understand how your loan looks like within a period of months.
FEATURES OF MNTRENDS LOAN CALCULATOR
This calculator has the following feature and they are not too hard to understand
- Total Amount($): This refers to the amount of loan you want secure. In this box just input the value e.g 500, 1,000, 10,000 etc.
- Down Payment($): Down payment refers to the amount you are paying as at the time of securing the loan.
- Interest Rate(%): This refers to the rate of interest usually provided by the loan institution or bank.
- Amortization Period(years): This is also known as the loan tenure or tenure of the loan. It refers to the payback time of the loan. How long before you pay back the loan and it is usually in years.
- Residual Value: This option is for those who are opting for lease calculation.
- Monthly Payment: This is the first output you get from the calculation. It gives you detailed on how much you are expected to pay back monthly.
- Total Payment: Total payment refers to the amount you will pay back at the end of the loan tenure.
- Interest Amount: The interest amount refers to the total amount paid calculated from the interest rate provided.
Use the Loan Calculator Above(Credit: Responsive Mortgage Calculator)
WHY USE MNTRENDS LOAN CALCULATOR
There are few reasons why you should use the Mntrends calculator for loans
- It is simple to use
- The calculator also works fine for those who wants to calculate lease.
- This calculator gives near to accurate result with regards to the data provided by you.
- You get the answer almost immediately.
- Very safe to use as it does not require any log in information or personal data
- One of the advance web calculator for loan options.
We really hope you enjoy using the Mntrends loan calculator and if you have any question and wants to suggest an update please use the CONTACT US page to send us a message. We’ll try to update the calculator to meet your request and make it more user friendly from your suggestion. We hope to hear from you and we hope this calculator helps you get the right stat for you loan.
Warm Regards Mntrends