Using the calculator is straight forward. User enters a "loan amount", "number of months", "annual interest rate". The calculator calculates the number of monthly payments.
The "Payment Method" determines when the first payment is due. With the default selection, "End-of-Period", the first payment will be due one month after the loan is made. If "Start-of-Period" is selected, then the first payment will be due on the loan date.
The term (duration) of the loan is expressed as a number of months.
- 60 months = 5 years
- 120 months = 10 years
- 180 months = 15 years
- 240 months = 20 years
- 360 months = 30 years
Need more options including the ability to solve for other unknowns, change payment / compounding frequency and the ability to print an amortization schedule? Please visit, https://financial-calculators.com/loan-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
kyle says:
Trying to use FC Auto Loan Calculator http://cjinternationalcars.com/inventory
Here is the shortcode I used
[fcautoloanplugin sc_size= "large" sc_custom_style= "No" sc_add_link= "Yes" sc_brand_name= "CJ International Cars" sc_hide_resize= "Yes" sc_price= "5.5" sc_dwn_pmt= "0" sc_loan_amt= "0" sc_n_months= "72" sc_rate= "0" sc_currency="1" sc_date_mask="2"]
My issue is with sc rate = “5.5”
When looking at the calculator on the website it adds 4 zeros after 5.5 making the interest 50000% I have tried .05 but no matter what I do it puts a comma in and charges 50,000%. It is not even putting the comma in the correct place.
I have tried copying and pasting the example short code above and it give the same result.
I Looked around in the dashboard and I don’t not see any plugin settings, just the short codes I found here.
What am I missing?
Karl says:
What country currency convention do you want to use? Per the contents of the "currency_and_date_conventions.txt" file, located in the plugin’s folder, I do not see 1 as a valid country code.
If you are in Everett, WA, then you want the U.S. code which is "48"
As it is set now, the comma is the decimal character, and when you see 5,5000, that is 5.5%.