Loan Amortization Schedule Calculation

The amortization schedule is a projection of the amount of principal and interest in each payment over the life of the loan. The amortization schedule may change, for example if the interest rate changes or the customer makes an overpayment (reducing the principal balance).

A loan's amortization schedule is calculated when an operator clicks the Calculate button on Loan - Main . Please be aware that when this button is clicked, an algorithm plugged in on the loan SA type actually calculates the amortization schedule (refer to the algorithm type LSCH-SI for more information).