At present, when the world is plunged into a deep economic crisis, one of the biggest concerns for people is to calculate the loan. Who has a mortgage, a credit of urgency, a car loan, or any other loan or credit to pay, she asked imperiously as debt rises and how much you will pay over the years.

This class is also useful tools for comparing market offerings in relation to a particular loan. Filling the information you request, as the value of interest, whether fixed or variable rate, loan type, amount and the number of months (or years) for repayment of debt, we can establish similarities and differences between different companies or financial institutions and find one that best suits our needs and our ability to pay.

Of course, calculate loan is not easy. Involves many complex mathematical equations, based on compound interest, which could make being in need of professional help for this purpose, since most people the completely unknown, or does not know how to apply. Moreover, we must not forget that most financial institutions take advantage of our lack of knowledge of the calculation process against those who will apply for the loan.

However, with the growth of internet and new technologies have been developed to calculate loan, regardless of the type of loan in question, a host of financial tools. The simplest are spreadsheets, but also complicated software exist that can be purchased on the web or downloaded for free, but usually are trial versions that have a limited life span (egg, 30 sessions, 30 days, etc.).

To begin, we must say that the loans are classified according to how we have chosen to return the money they lent us their interests. The payment made each time, and that is deducted from the total debt is called amortization. Normally considered three types of depreciation: the French system of assessments, also known as constant, the German system or constant depreciation, and the American system.

The quota system is the most constant is used to calculate the interest on any loans and credit from personal loans to mortgages. It is based on all shares remain constant over the life of the loan. In this way we can calculate the real value of a long-term loan, for example 30 years as in the case of mortgage loans, whose fees are paid monthly, quarterly or annually, as applicable. In this case we can include loans with variable interest rates and even the redemption of shares, which may be in time or in installments (is, we choose to pay for less time or less fees).

The constant depreciation system has come into disuse, though in earlier decades was widely used, primarily in mortgages. In the German system, the depreciation rate is constant throughout the life of the loan, but fees vary constantly, so that at the beginning of the loan installments are paid higher than at the end of it is fees are reduced.

Finally, in the American system, in each depreciation is charged interest on the loan, but not the capital. This is paid in the last depreciation cost along with the cancellation of debt, just off the life of the loan.

It is essential that these calculations carefully, for we must take into account the greater number of possible factors. For example, one must take into account the fine print of contracts, which of course the financial benefit.

If we consider egg personal loans, it is also necessary to consider the applicant’s income, your ability to repay the debt in a timely manner, the same credit history, etc. The main fear of creditors is that the fees exceed the limit of money available from the individual, which would end in a default, with an obvious loss to the lender.

It is also necessary to take into account to calculate loan in most (if not all) cases, calculators and simulators internet gives us an approximate value of payments will be made. We need to go to the institution of which we are interested in getting the loan and find out more precisely the final price, so no surprises when signing the final contract.

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