The principal   C0
Number of years   n
Number of shorter time units in one year   m   Annual payment (1)
Semiannual payments (2)
Four-monthly payments (3)
Quarterly payments (4)
Bimonthly payments (6)
Monthly payments (12)
Weekly payments (52)
Daily payments (365)
Rate of interest
Calculate more precisely

When you work with bullet operations, you have to know that from the first periodic amortization payment ( a1 ) to the penultimate one ( as-1 ) you only pay coupons (only pay interest), because of that you have to use the following formula:

And the last periodic amortization payment ( as ) is used to pay interest and repayment of the principal ( C0 ):

The only thing that need be considered is to always work with the effective rate of interest per time unit ( i(m) ), because of that, if you do not enter this rate of interest, it is necessary to do the following conversion: