All Questions
Tagged with loans calculation
62
questions
4
votes
3
answers
914
views
Please help me calculate interest on a loan
My Ex owes me $66000 and I need to give him a payment plan with 8% interest over 5 years.
The monthly repayments need to tier roughly as follows (he's going to earn more in the 2nd and 3rd years and ...
- 51
1
vote
3
answers
225
views
What would the formula for loan payoff with daily compounded interest and paid 5 days per wk?
I'm interested in calculating the impact of making payments on my student loans daily (5 payments per wk).
For example my current loan is 50,000$ @ 5.05% interest compounded daily. The term of the ...
- 11
-1
votes
1
answer
815
views
how to find flat rate of interest per annum and month if we have given reducing rate of interest or loan amount and tenure?
For example: For loan amount 500000 for 5 years at the rate of 12% (reducing interest rate), EMI is 11,122.22 per month Here 12% reducing is equivalent to flat 6.69% per annum or flat 0.55% per month.
...
3
votes
2
answers
2k
views
What is the formula for loan payoff date?
My goal is to calculate loan payoff date. Actually I'm making a wordpress plugin to calculate that. I made a form from I can have following inputs from user.
Current Loan Information
Original ...
- 133
4
votes
2
answers
545
views
Pay off student loans vs pay myself and try to get PSLF? (is my math right?)
I am trying to decide between paying off my student loans in 5 years vs attempting to quality for Public Service Loan Forgiveness (PSLF), which I could conceivably do in 5 years. My options are to 1) ...
- 41
2
votes
1
answer
445
views
How does Sallie Mae calculate its payment?
Short Version
Can anyone figure out how Sallie Mae comes up with its personal loan payment amount?
Long Version
I have a friend who took out a personal loan with Sallie Mae, and their payment ...
- 123
1
vote
1
answer
136
views
Loan calculation with percentage [closed]
I want to know monthly payment with percentage. Let's say I took loan of $200 and I have to pay monthly for 5 months and amount pay back is $260. Over here $60 is interest. I could make out that I ...
- 113
0
votes
1
answer
1k
views
Algorithm to calculate the Interest on Loan with a Balloon Payment
I am trying to understand the algorithm used by My Calculators.com - Balloon Payment Calculator
If I enter the following details:
Loan amount: 4556.75
Number of months: 5
Interest rate: 5.75%
...
- 111
0
votes
1
answer
172
views
How do interest calculations differ between loans and savings? [closed]
At the bank or financial institute how are the interest calculation is different from loans and savings? Are they calculated the same way?
3
votes
2
answers
272
views
How to compare loans of same principal, same interest but with different tenors
I have a scenario where there are 2 loans that can be provided (assuming I am providing the loan). The principal amount is the same, 30,000 in case of both the loans. The interest is also same at 17%. ...
- 1,185
2
votes
1
answer
931
views
Excel calculating interest rate on loan
Not sure if this is the right place to ask this type of question, apologies if it isn't.
I am following this explanation on office support to answer my own question.
Using the values they use, what ...
- 53
9
votes
2
answers
3k
views
What is the formula for calculating the total cost of a loan with extra payments towards the principal?
If I have a 30 year mortgage of $200,000 with an APR of 4.446% I can calculate how much my monthly payment will be and how much the total cost of the loan will be.
But what if I have an extra $200 to ...
- 91
0
votes
1
answer
1k
views
Calculating Interest Accrued for a late payment
I'm trying to calculate the interest accrued on my amortization schedule manually. I can calculate it fine if payments are exactly one month apart but this payment is More than 1 month apart.
This ...
- 389
2
votes
2
answers
1k
views
Calculate the Loan Amount for a given Monthly Payment where the Balloon Payment is a Percentage of the Loan Amount
I'm trying to calculate how much you can borrow for a given monthly payment, including a balloon payment, where the balloon payment is given as a percentage of the final loan amount.
The calculation ...
- 23
0
votes
2
answers
140
views
Calculate money owed on shared loan
I am in an interesting situation that I am looking for help with.
I went to college a number of years ago, as did my brother. My mother had two student loans (one for each of us) and a few years ago,...
