codesmithtech/amortize

PHP library for calculating the amortization of mortgages, or any other loan, over a period of time

Maintainers

Details

github.com/codesmithtech/amortize

Source

Issues

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0.2.4 2020-03-10 11:36 UTC

Requires

Requires (Dev)

MIT 032f9d7c56ff0dcdd6f3e36495c0346607b36bdf

  • David Smith <david.woop@codesmith.tech>

This package is auto-updated.

Last update: 2025-06-18 07:18:43 UTC

README

Amortize calculates the amortization of loans over their term, taking care of the math for you.

  • Calculates principal and interest for each month over the loan term
  • Calculate total repayable over the term of the loan
  • Add overpayments part way through the term and have the loan term shortened, or the monthly payment recalculated and reduced for the remainder of the term

Install

composer require codesmithtech/amortize

Usage

<?php
$amortize = new Amortize();
$amortize->setInterestRate(3.5);
$amortize->setPrincipal(15000.0);
$amortize->setTerm(36); // months

$amortize->totalAmountDueOverTerm(); // returns a float with a value equal to the principal + interest owed over the term of the loan

$amortize->getBreakdownByMonth(); //  returns an array of AmortizedMonth objects, each containing the amount of principal and interest due that month