The formulae used to calculate the amounts in the Amortization feature of HRplus are shown below using an example.
How to use the Amortization feature - Overview
Step 1 - Create Amortization Schedule
An interest bearing loan is amortized if Principal P dollars and Interest I dollars are paid over a term of t years at regular payments of p dollars every (1/n)th of a year.
One-Time Calculations
Per Period Payment Calculations
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