All Questions
Tagged with loans calculation
62
questions
3
votes
2
answers
10k
views
How to calculate the number of months until a loan is paid off (given principal, APR and payment amount)?
Does anyone know what formula they use for this When will you be debt-free? calculator? I want to put it in a Google Spreadsheet, but I can't find a payments-to-debt-free formula using my Google ...
- 133
1
vote
2
answers
939
views
Calculate APR from balloon loan
I need formula to calculate nominal APR from balloon loan with contract fee. The initial data and payment schedule is:
Loan sum: 10 000€
Interest rate per year: 15%
Loan period: 2 years
Payments ...
- 11
2
votes
3
answers
2k
views
Calculating interest accrued with extended Initial Payment Date
I'm wondering how do I calculate the interest accrued if the intervals aren't perfect. For example
Principal - $100,000
Interest - 8%
Compounding monthly
Disbursal Date - January 1st, 2016
Initial ...
- 389
1
vote
1
answer
945
views
How do I calculate the past value of a loan?
I have a loan that was originally $100,000.
It is worth $116,971.41 today.
It has been accruing 6% annual interest, compounded daily.
I do not know the start date.
How do I calculate what the value ...
- 113
-1
votes
1
answer
781
views
Does a one time additional payment reduce the interest paid on a Prosper or Lending club personal loan
I have a loan with Lending Club with a certain interest rate. So every month I pay the principal as well as about $200 in interest. Assuming the loan balance left is $20000 and the interest rate is 7%,...
- 582
2
votes
1
answer
974
views
How to calculate the effective interest rate of a loan that must be paid back with interest as lump sum
An example question asks:
Student Bank has agreed to lend you funds to complete the last year of
your degree. The bank will lend you $2,400 today, if you agree to
repay a lump sum of $4,000 in ...
- 1,290
3
votes
3
answers
2k
views
How to know how much interest paid per payment in a fixed tenor personal loan
I recently took up a personal loan. I do not have any financial background and I do not have any issue paying the loan but I am just curious on how they come out with some numbers.
To be precise, the ...
- 165
6
votes
1
answer
660
views
How do I determine how long it will take to pay off my all my loans?
Right now I have a spreadsheet with the loans I have, the interest rates the are each at, and how much I am putting toward each in monthly payments. I then calculate how long each loan will take to ...
- 161
2
votes
3
answers
720
views
Simple Interest to Compound Interest
In simple annual interest terms 60/2000 is 3%. But what is the rate if this is the total interest paid on 2000 after monthly compounding over 3 years?
- 21
10
votes
3
answers
4k
views
Overpaying on mortgage - How is term reduction calculated?
Just for some example figures:
Original Term: 25 Years
Loan Amount: £100,000
Interest rate: 2%
I'm trying to make an excel table which keeps track of my mortgage payments including overpayments. ...
- 255
1
vote
1
answer
164
views
Calculating long intervals of Interest with Simple Interest Formula
My last post Calculating long intervals of Interest calculates interest using compounding formula. But what about calculating simple interest accrued where the day count is actual/actual and it goes ...
- 389
2
votes
2
answers
129
views
Calculating long intervals of Interest
Small interval calculations is fairly straight forward. But what about long intervals. If a loan's daycount is set to Actual/Actual and the duration has run into two different DayCount intervals, how ...
- 389
4
votes
3
answers
8k
views
Loan repayment calculation and monthly compounding interest problem
I need to write a mock up application that returns a quote to potential borrowers. The specification says that "The monthly and total repayment should use monthly compounding interest".
Program ...
Fabian
1
vote
1
answer
799
views
Why SUM(PMT) is not identical to FV?
I'm exploring financial functions in a spreadsheet. When I use FV, which is based on FV = PV*(1+r)^n I get a different number than when using PMT and multiplying by the number of periods.
For example:...
- 528
3
votes
3
answers
505
views
Can anyone help me understand my loan payment?
My loan was $40500 for five years with 9% interest per year. I do not understand the total I would have to pay. I have been paying 700 per month since 2006 and it feels like I've been paying forever. ...
- 31