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Financial Calculators from
Dinkytown.net
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Financial Calculators from
Dinkytown.net
Loan Payoff Inputs: | Total savings $0.00 |
Current payment:
Report amortization:
Loan Balance and Interest |
Definitions
Annual interest rate
Annual interest rate. Maximum interest rate is 20%.
Number of months remaining
Total number of months remaining on your original loan.
Loan term (months)
Total length, or term, of your original loan in months.
Loan amount:
The original amount financed with your loan, not to be confused with the remaining balance or principal balance.
Additional monthly payment
Your proposed extra payment per month. This payment will be used to reduce your principal balance.
Current payment
Monthly principal and interest payment based on your original loan amount, term and interest rate.
Monthly prepayment amount
Scheduled payment plus additional monthly payment.
Total savings
Total amount you would save in interest if you made the accelerated payment until your loan was paid in full.