Free Loan Calculator Editor's Review

Free Loan Calculator is a simple, but extremely useful, tool designed for calculating the payments in case you intend to borrow different amounts of money.

The program is very easy to use and very fast. All you need to do is enter the amount of money you have to return, choose your payment frequency and number of payments and the annual interest rate. The payment frequency can be set at a time interval of your choice, from annual payments to daily payments. The program will instantly calculate the amount of every payment, the total interest paid, and the total amount paid.

If necessary, you can also enter the amount of estimated annual taxes and/or insurance for a more accurate estimate. The program includes link to some Web resources, which might prove to be useful in terms of advice in case you are interested in borrowing money.

Pluses: The program has two similar payment calculation windows, so you can compare the repayment of two load under different payment conditions.

Drawbacks / flaws: There are no advanced feature such as the recalculation of the remaining sum after a period of time, you cannot enter a variable interest rate, etc.

In conclusion: A basic, nice and useful program.

version reviewed: 4.8.0