1. What is Maturity Date?

The maturity date is the final payment date of a loan or other financial instrument, at which point the principal (and all remaining interest) is due to be paid.

2. How Does the Calculator Work?

The calculator uses the simple formula:

Where:

• Start Date — The date when the loan begins
• Term — The duration of the loan in months

Explanation: The calculator adds the specified number of months to the start date to determine when the loan will mature.

3. Importance of Maturity Date Calculation

Details: Knowing the maturity date is crucial for financial planning, understanding repayment schedules, and preparing for the final payment obligation.

4. Using the Calculator

Tips: Enter the loan start date and term in months. The calculator will determine the exact date when the loan will mature.

5. Frequently Asked Questions (FAQ)

Q1: Does this account for leap years?
A: Yes, the PHP DateInterval function automatically accounts for leap years when adding months to a date.

Q2: What if the term includes partial months?
A: This calculator works with whole months only. For day-specific calculations, a different approach would be needed.

Q3: Can I use this for different loan types?
A: Yes, this calculation works for any loan that has a fixed term in months, including personal loans, mortgages, and business loans.

Q4: What's the maximum term I can calculate?
A: There's no technical limit, but extremely long terms (many decades) might have limitations in the date handling.

Q5: Does this consider payment due dates?
A: No, this calculates only the final maturity date. Payment schedules would require additional calculations.