Loan amortisation
Level payment solved, then walked in minor units so the last payment clears the balance exactly.
- Runs
- In this tab
- Data sent
- None
- Rounding
- Once, at the end
- Also in
- The Chrome extension
Loan amortisation, worked
Showing a worked example — type over it
Result
How the loan amortisation works.
Loan amortisation (payment solve, interest/principal split, balloon paid with the final instalment, first payment one month after funding)
Quoted from the toolbelt spec, the document this tool was built against.
Where these numbers come from.
Negatives are parenthesised because that is what a statement does. The rest is four promises.
Minor units, never floats
Amounts are integers in the currency's smallest unit, end to end. A float never touches a cent.
Rounded once
Rounded once, at the end — never per operand, which is how a split stops summing to the whole.
Unit tested
The arithmetic lives in one unit-tested module, shared without reimplementation with the extension.
No network
There is no request to make. What you type stays in this tab and is gone when you close it.
More in schedules that tie
- Depreciation scheduleStraight-line, declining balance or SYD, with the convention that decides the first period.
- Prepaid & deferred releaseA premium paid on the 17th does not release in twelve equal slices. Day-weighted, or even — your call.
- Lease — ASC 842 / IFRS 16PV of the payments at your IBR, the liability unwind and the ROU asset — straight-line for a finance lease, the plug to a level cost for an operating one.
The same number, elsewhere.
A calculator answers the question once. These carry the answer into a product, name what it computed, and argue the method.
- ComponentScheduleTableOne shell, seven presets. Prepaids through debt.
- ComponentCovenantMonitorThe contractual definition, not the generic one.
- ComponentCashRequirementsDue in 7/14/30 vs. available, payroll broken out.
- TermInterest coverageInterest coverage is a leverage and coverage metric, calculated as EBIT ÷ Interest expense.
- TermDSCRDSCR is a leverage and coverage metric, calculated as Cash available for debt service ÷ Debt service (interest + scheduled principal).
- TermNet debtNet debt is a leverage and coverage metric, calculated as Total debt − Cash.
- DocCash & treasuryCash is the only balance sheet account with an independent third party asserting what it should be. That makes it both the most verifiable account and the one where a break matters most.
- EntryJournal entry for a loan repaymentWhen the loan is received, debit Cash and credit Loan payable. Each payment debits Interest expense for the interest portion and Loan payable for the principal portion, and credits Cash for the full payment.
- DocCurrency decimal placesHow many decimals each ISO 4217 code is stored at — JPY 0, USD 2, KWD 3.