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Canadian loan calculator help...
Canadian loan style assumes monthly payments and semiannual compounding.
This calculator will solve for any one of four possible unknowns: "Amount of Loan", "Total Scheduled Periods" (term), "Annual Interest Rate" or the "Periodic Payment".
Enter a '0' (zero) for one unknown value.
Normally you would set the "Payment Method" to "Arrears" for a loan. This means that the monies are lent on one day and the first payment isn't due until one period after the funds are received.
If the first payment is due on the day the funds are available, then set "Payment Method" to "Advance". This is typical for leases.
Bruno says:
This calculator sucks I can not calculate the payments
Karl says:
You’re right. I made some changes this morning trying to get a few calculators to load faster, but in my haste, I left out a step and I broke 5 calculators on the site.
If you still need to do the calculation, they are all fixed now.
NOTE: You may have to perform a hard refresh of the page if it doesn’t work right away:
Depending on your operating system all you need to do is the following key combination:
Above, from Refresh Your Cache.