To calculate a loan using the Loan Calculator feature in Capexplan, follow these steps:
- From the dashboard, go to the Help menu.
- Under the Help section, select Loan Calculator.
- Enter the Loan Amount: Input the total amount of the loan you are considering.
Specify the Annual Interest Rate: Enter the annual interest rate for the loan. This is the percentage rate charged on the loan amount annually.
Set the Loan Term: Define the loan term in months. For example, if the loan is for 5 years, enter 60 months.
Choose the First Payment Date: Select the start date for the first loan payment.
- After entering all the necessary details, click on the Calculate Loan Payment button provided by the calculator.
- Capexplan will display the calculated details of the loan, including:
Monthly Payment: The amount you need to pay each month towards the loan.
Total Interest Paid: The total amount of interest paid over the entire loan term.
Total Payment: The sum of all payments including both principal and interest.
