Calculation of the monthly payments of the insurance of a credit

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Calculation of the monthly payments of the insurance of a credit : Credit insurance monthly payment calculator: real estate credit, consumer credit, and other types of credit.

Syntax :

loan_insurance(Borrowed capital;Annual interest rate;repayment duration), the repayment term is expressed in months.

Examples :

Here is an example of calculating the insurance of a loan in the amount of $ 100,000, with an insurance rate of 0.26% over 20 years (240 months) loan_insurance(`100000;0.0026;240`)

This online loan insurance monthly payment calculator will help determine the monthly loan insurance, it can apply to different types of loan: home loan, consumer loan. With this calculator, it is possible knowing the rate of insurance and the duration of the loan to determine the monthly amount of insurance, its annual cost and total cost. This loan insurance calculator facilitates simulations and comparisons.

Monthly payment calculator for loan insurance

To calculate the monthly loan insurance, the calculator uses the following formula: `M=(C*t/12)` where t is the annual rate of insurance and C is the borrowed capital.

Loan insurance monthly payment calculator uses a simple syntax, so to compute the monthly repayment of the insurance of a mortgage loan in the amount of $ 100,000 at the rate of 0.36% over 20 years (240 months), enter loan_insurance(`100000;0.36/100;240`). The calculator returns the amount of the monthly payment associated with the credit insurance.

All the parameters of the monthly loan repayment amount calculator are calculable, which means that it is possible to pass formulas as parameters, which can for example be useful for converting years to months. So to calculate the amount of insurance of a consumer loan in the amount of $ 20000 at a rate of 0.30% over 5 years, enter loan_insurance(`20000;0.3/100;5*12`)

Calculating the annual cost of loan insurance

The annual cost of credit insurance is calculated as the sum of monthly payments paid over a year. It can also be obtained by multiplying the annual rate of credit by the borrowed capital. The loan calculator specifies in detail the calculations, the annual cost of insurance of a credit.

Calculation of the total cost of credit insurance

The total cost of credit insurance is calculated as the sum of monthly payments paid for the duration of the loan. The loan calculator details in the calculations, the total cost of credit insurance. Thus to calculate the amount of the insurance of a car loan of an amount of 20000 € over 5 years for which the insurance is of 0,30% , enter loan_insurance(`20000;0.3/100;5*12`). The total cost of credit insurance is specified in the details of the calculations.