A loan calculator or debt amortization table is a financial tool that helps individuals and businesses calculate the amount of their loan repayments, including interest and principal payments, over a specific period of time.

This tool enables borrowers to see the impact of interest rates, loan terms, and repayment schedules on the overall cost of borrowing, which can help them make informed decisions about their finances.

The loan calculator or debt amortization table typically requires input of information such as the loan amount, interest rate, loan term, and repayment frequency. Once this information is entered, the tool calculates the repayment schedule, including the total amount of interest paid over the life of the loan and the final repayment amount.

Using a loan calculator or debt amortization table can be useful in a variety of financial situations, including home mortgages, car loans, and personal loans. It allows individuals and businesses to compare different loan options and repayment schedules, helping them choose the most cost-effective borrowing strategy.

Overall, a loan calculator or debt amortization table is an essential tool for anyone who wants to borrow money responsibly and manage their debt effectively.