Calculation with reverse loan calculator will be of use if under contract you should repay the same amount each month that is said under annuity scheme of credit repayment. But at the same time annual interest rate is not mentioned or its definition is stated unclearly.
Put credit amount, loan period in months and amount of monthly payments to reverse loan calculator and as a result you will obtain calculated annual rate. Having information about the interest rate one can really estimate conditions of such loan. Move to ordinary credit calculator to check calculations and calculate the amount of annuity payment when you know annual interest rate.
While calculating annuity payment the decisive role belongs to annuity ratio.
Amount of monthly payment is calculated by the product of credit amount by annuity ratio. Financial institutions calculate annuity ratio by different formulas and amounts will differ accordingly. That is why despite of the fact that accuracy of annual interest rate calculation will be with decimal digits, calculation of reverse loan calculator is of informative character. By means of such calculator one can make only estimated calculation.
|Reverse Loan Calculator|
|Loan term: (months)|
|Interest Rate %:|
|Note:||Check Your Calculations|