All Questions
Tagged with loans calculation
62
questions
4
votes
2
answers
236
views
How to calculate monthly payment of a loan
I am trying to solve this question:
Your brother-in-law asks you to lend him $100,000 as a second mortgage on his vacation
home. He promises to make level monthly payments for 10 years, 120 payments ...
- 43
-1
votes
1
answer
139
views
How to solve amortization schedule where 10% of the interest is paid back on 4th payment
I am trying to find an algorithm to solve this amortization schedule:
P = 1000, term = 12 months, Interest=5%, calculation based on actual/365.
10% of the total interest of the loan is added to the ...
- 11
5
votes
2
answers
3k
views
Why the calculated cost of a loan is less than expected? Is the bank working at a loss?
Let's say I want to borrow $1000 from a bank at an interest rate of 12% per year, for one year. The number of payments in this case is equal to 12 (one year * months per year) and the interest rate ...
- 169
1
vote
1
answer
196
views
Calculate Loan Balance and Future Balance with Extra Repayments
So, here's the current situation.
I took out a £7000 loan over 42 months at the insane interest rate of 47.4%.
I needed the loan, couldn't borrow it off family, and the interest rate is due to some ...
- 328
2
votes
2
answers
264
views
How can I calculate amortized payment when the payments are made in advance?
I'm trying to calculate the payment amount on an amortized loan with interest where the payments are made in advance.
If the payments are made in arrears there's a simple formula, but since the first ...
- 21
2
votes
1
answer
100
views
What's the APR for this in combination with the Balloon Payment of 6525 USD?
I am trying to solve the following:
Finance Amount: 24.951,82 USD
Interest Rate: 2.29%
Residual Value: 6.525 USD
Number of Months: 60
Fee: 374.28
Years: 5
What's the APR for this in combination with ...
- 21
1
vote
1
answer
3k
views
Formula for time taken to pay off loan with annual interest and monthly repayments
I am trying to find how to work out the period of time it will take to pay off a loan. There are plenty of online calculators out there but I cannot find the formula they use. I want to recreate the ...
- 113
1
vote
1
answer
2k
views
Formula for calculating the monthly payment for a Personal Contract Purchase
How can I calculate the monthly payment for a PCP (Personal Contract Purchase) when given the variables below?
'Amount to be financed' - finance amount
APR (annual percentage rate - %)
Length of ...
- 13
0
votes
2
answers
107
views
Mathematical method to minimize weighted interest rate on a set of student loans for a given payment? [duplicate]
See image attached. I graduated back in May. Even though my loans are in forbearance right now due to COVID and I'm still in my grace period for payments, I wanted to get a head start on figuring out ...
0
votes
1
answer
495
views
IRR calculation with Initial Investment disbursed on two years
In my case, I think:
Numbers say more than words.
So, I've simplified the financial situation in this image:
Here is the Excel file.
How to calculate the Internal Rate of Return (IRR) with such a ...
- 101
3
votes
1
answer
472
views
Calculating interest and Principal Paid using TI-84
How do I calculate the net quantity of interest on a loan, and the net quantity of the principal on the loan, that I have paid off after a given number of payment periods in the finance app on a TI-84 ...
0
votes
1
answer
189
views
How to calculate a loan constant payment (like PMT) but extra double paying (without interest) twice a year
This is my first post in this community, already tried to find my answer, and didn't succeed :(.
I'm working a way to understand the formula behind a loan that allows the client to extra pay the same ...
- 111
1
vote
1
answer
67
views
Principle and interest calculations [closed]
I have a loan at 5%, I know the total owed and the monthly payment and need aschedule giving me the interest and principle paid each month until paid in full. Where can i find a schedule calculator ...
- 11
1
vote
0
answers
32
views
Enhancement of the open source lib for calculation of IRR (internal rate rate)
I am cs student , and has been asked to enhance the documentation for open source lib finance.js for IIR (internal rate of return) for various industry
Here I am trying to calculate IIR for the ...
1
vote
1
answer
223
views
Calculate the deposit on a loan when the monthly payment, interest rate, and balloon are known
I am looking into PCP finance for a car and I have found estimates where I enter a term and a deposit, and am given a monthly payment for the loan.
Some sites (BMW for example) will let you enter a ...
- 119
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,...
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
3
votes
1
answer
186
views
Effective Interest Rate from bifurcated interest rate
Here goes, this is the scope of my question: Say I want to take out a credit card, that has 0% interest for 12 months, when at the 13th month, whatever debt is taken out on the card will be subjected ...
- 31
1
vote
1
answer
174
views
How is minimum payment calculated for this daily amortized loan?
I'm trying to figure out how the bank calculated the minimum payment for a personal loan.
Starting Principle: $6,800
Interest Rate: 13.750%
Loan Term: 36 months
Payment Frequency: Monthly
Start Date: ...
- 111
2
votes
1
answer
4k
views
Calculating total number of monthly payments in Excel using NPER and PMT?
How to calculate the total number of monthly payments given the amount of loan ($275,000), the annual interest rate (4.35%) and the number of years (30)? I'm confused because I'm trying to use the ...
- 21
1
vote
0
answers
182
views
How to calculate interest charged on my loan given a series of dates & payments?
I want to calculate the interest rate payed for this loan using Mathematica.
The initial amount was of 12000€, then they asked to pay 240€ for opening the loan and another 870€ for the insurance for ...
- 113
2
votes
3
answers
5k
views
Amortization Payments with a delay in initial payments
Typically a loan is disbursed and a month later is when payments are to be made. But there can be an agreement where it's to be delayed for a year or as short or as long as they want.
I'm wondering ...
- 389