I would like to know how to do an amorization on a loan@10%for36 months?

Answer 1

To get an accurate amorization schedule for a loan @ 10 % for 36 months. Google the many amorization calculators on line and type in the numbers. This is the most effect and accurate why of amonization as there are several factors involved that you have not mentioned.

Answer 2

The amount of the loan times 10% divided by 365 times the number of days in the month gives the first month's interest amount. Take the monthly payment minus the interest and that gives you the principal paid toward the loan. To calculate the next month you subtract the principal portion from the amount of the loan to get the new amount to multiply by 10%. Repeat 36 times.
This assumes you compound monthly.

Create a spreadsheet with these five columns:

Date of Payment,Payment Amount, Interest, Principal, Balance Still Owing

Your spreadsheet will have 36 rows. One for each payment.

When all the amounts are filled in you will have an amortization of your loan.

Answer 3

If you have MS Excel, there is a payment function you can use to get the monthly payment.

It is important to enter the rate as a monthly rate if you enter the term as 36 months ... (this is really important ...otherwise you will get a bogus result) ... this may be required in other amortization calculators as well ...

in XLS ...
=pmt(rate,nper,PV,[FV],[type])
::::: rate is rate entered as decimal (10% = 0.10)
::::: nper is number of periods ... IF this is in months, then rate must also be in months (eg .10/12)
::::: PV is present value (loan amount)
::::: FV is future value (if you had a balloon amount at the end, that would be a FV ... if not you can ignore this optional parameter)
::::: type is used for loans vs leases (advance or arrears) you can also ignore this optional parameter

=pmt(0.10/12,36,10000) = 322.67 monthly payment on $10,000 loan amount

if you need an amortization schedule (prin and int splits by month), there are also PPMT and IPMT functions that will compute the prin and int amounts in a specified period.

Answer 4

You'll need a loan amortization calculator. There's no easy way to do it on paper. The other poster's answer is WRONG! For example, a $3,000 loan on those terms requires monthly payments of $96.80, NOT $91.66 as that poster's formula would give.

If you have Microsoft Excel on your computer, there's one bundled with Excel. You can also buy a calculator that does loan amortization calculation for about $30.00 or so. The TI Business Analyst is a good one.

Answer 5

multiply loan amount by 1.1 divide by 36

Answer 6

the formula and some description is given here

http://faculty.elgin.edu/mpelczarski/cis207/loanformulajava.htm

also, spreadsheets, like Excel, have amortization functions that are easy to use

Answer 7

does it compound monthly? yearly