Canadian Tax and
Financial Information
Loan/Mortgage Calculator

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  Option 1     Option 2     Option 3  
Loan amount          
Annual % interest rate          
Amortization period, select mos or yrs    
Payment frequency          
Payments per year          
Compounding frequency          
# compounding periods per year          
Effective annual rate          
Regular payment amount          
Increase payment by          
Increased payment amount          
Additional payment every 12 months          
Tip: Increase the bi-weekly payment to 1/2 of the monthly payment, and see the savings.
Total payments and interest with regular payment amount:          
Total # of payments          
Total payments          
Total interest paid          
Total payments and interest with increased payments:            
Total # of payments          
Total payments          
Total interest paid          
Interest saved by increased payments          
Amortization period shortened by    
Outstanding balance after specified number of months or years, including any increased payments:  
Enter # of periods, select mos or yrs    
Outstanding balance          
Tip: Pay down your non-tax-deductible debt as quickly as possible, starting with the debt with the highest interest rates!
Fixed rate mortgages are usually compounded semi-annually, other loans are usually compounded monthly.
Interest charged by Canada Revenue Agency is compounded daily.
Questions or comments on the loan and mortgage calculator?? 

Revised: September 19, 2017

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