There are five variables. Enter any four, and the calculator will measure the missing fifth variable.
- Principal and Interest: The monthly payment.
- Loan Amount: The beginning mortgage balance.
- Annual Interest Rate: The rate of interest on the outstanding balance.
- Payment Frequency: The frequency that P&I payments are made, typically “Monthly.”
- Payments or Term: “Payments” refers to number of Months. “Term” refers to number of Years. Depending on the particular calculator, it may be either months or years.
* Data cannot be saved by you or the system. All values return to zero when calculator is closed.
