Hi,
I was calculating the annuity factor from interest rate. I have amortised the loan and did the same using online loan amortisation calculator. There is a small difference in Principle, interest, total interest and total principle.
I tried several calculators and the difference exists. Why is the online calculators total interest lower than Annuity factor calculations?
Formula= Loan amount/Last year annuity factor.
I also have made calculations from scratch and I was worried as their rate is different and I think they have some interest subsidy or something included on personal loan calculator. I guess no one can know about their asymmetric formulas.
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