PHP package for installment loan calculation
composer require niksynov/installment-loan-calculator
Given total amount is 100000, interest rate per month is 0.5% and number of payments is 36
use NikSynov\InstallmentLoanCalculator\Calculator;
$payments = Calculator::calculate(100000, 0.5, 36);
Method will return array of 36 monthly payments with month, beginningBalance, interest, principal, emi and endingBalance:
array(36) {
[0]=>
object(NikSynov\InstallmentLoanCalculator\Payment)#4 (6) {
["month"]=>
int(1)
["beginningBalance"]=>
loat(100000)
["interest"]=>
float(500)
["principal"]=>
float(2542.19)
["emi"]=>
float(3042.19)
["endingBalance"]=>
float(97457.81)
}
...
[35]=>
object(NikSynov\InstallmentLoanCalculator\Payment)#38 (6) {
["month"]=>
int(36)
["beginningBalance"]=>
float(3027.06)
["interest"]=>
float(15.14)
["principal"]=>
float(3027.06)
["emi"]=>
float(3042.19)
["endingBalance"]=>
float(0)
}
}