Car Loan Calculator app is essentially a very simple car loan calculator.
-Simple and straightforward interface
-Screen is kept ON all the time while the app is visible
-Screen orientation is fixed to portrait
-Has an option to clear all the fields
Car Loan Calculator app for auto loans that implement the method of calculating interest per annul.
Car Loan Calculator app shows the resulting installment per month, and differs from most other amortization apps that show lower values due to the difference in formula. This increased accuracy gives you a better feel of the monthly installments you will be forking out.
1) Enter the loan amount (after any offsets, etc.)
2) Enter the interest rate per annul in percentage value
3) Enter the length of the loan in months (5 years = 60 months)
4) Calculate! The monthly installment will be shown.
Car Loan Calculator Canada method of calculation differs from normal amortization methods because it factors in the annual interest rate. The given figure is noticeably higher, especially if budget is a concern.