Loan Calculator
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loan calculator
A loan is a contract between a borrower and a lender in which the borrower receives an amount of money (principal) that they are obliged to pay back in the future. Most loans can be categorized into one of three categories:
Amortized Loan: Fixed payments paid periodically until loan maturity
Deferred Payment Loan: Single lump sum paid at loan maturity
Bond: Predetermined lump sum paid at loan maturity (the face or par value of a bond)