Question 1

Is this the same as a lender’s payment schedule?

Accepted Answer

It is based on standard amortization assumptions. Lenders may use specific compounding conventions and rounding, which can cause small differences.

Question 2

What happens if APR is promotional?

Accepted Answer

If APR changes after a promotion ends, the true payment trajectory changes. Use the calculator again with the post-promotion APR for more realistic planning.

Question 3

Does this include fees and insurance?

Accepted Answer

No. The formula covers principal and interest only. Fees and insurance should be added separately in your budget.

Repayment Calculator

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