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

To obtain the periodic amortization payments ( as ) of any level payment loan (constant amortization payments and constant rate of interest) you have to use the following formula:

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:

You should know this: