Northern Redwood Federal Credit Union

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Loan Calculator
Before using this calculator, please READ THIS
****** Instructions ******

Enter dollar amounts with no commas and no $ sign.

Purchase Price $
Sales Tax % [enter 5% as 5]
Down Payment $
Yearly Interest Rate [enter 10.5% as 10.5]
Payment Period
Term [Length Of Loan]
Payment Amount [Leave as 0 or SEE INSTRUCTIONS] $
First Payment Date (optional) [enter as MM/DD/YYYY]  / /
Is this a Mortgage Loan? Check if Yes
Calculate Detailed Payment Amortization? Check if Yes

Notes and Assumptions

  1. Scripting (JavaScript®) must be enabled in your browser in order for the calculator to work.
  2. This calculator is for ESTIMATION only. Use at your own risk. This is not an offer to lend. Accuracy of the results is not guaranteed. The results of this calculator may vary greatly from the results of an actual loan. Please consult your lender for the actual numbers.
  3. In most cases, a 360 day year is used for all of the calculations. Some exceptions apply when a WEEKLY, BI-WEEKLY, or OTHER option is used. In those cases, a 364 or 365 day year may be used for some or all of the calculations. Also, in some results when a WEEKLY, BI-WEEKLY or OTHER option is used, the amortization schedule will list DATED payments on each PAYMENT PERIOD, which in some situations may resulting in a slightly shorter or slightly longer amortization schedule as listed by date.
  4. The option "Calculate Detailed Payment Amortization" MAY be slow in and/or not work in producing results in SOME browsers (generally a browser running on an older system).

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