Do you have a loan you need to pay off? Are you about ready to put a down payment on a house and you want to compute your mortgage? Then this app is for you! (although it’s a little bit slow).
for purposes of this demo, the screenshots below show how the app processes a loan of $10000 at an annual interest rate of 8.00% for a period of 2 years (24 months).
The amortization schedule created starts with the original value of the loan and ends with zero at the end of the payment period.
(i must warn you, if you enter an NPER - number of periods - of 360 months - which is the normal duration of mortgage loans - the app is a little slow - but it will compute it!)
here’s the link.
note: because thunkable doesn’t have a native real number (eg. dollar and cents) formatting routine, i had to write my own using rounding. thunkable insists on turning trailing zero cents to blanks!