All Questions
Tagged with loans calculation
62
questions
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
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
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
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
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
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
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
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
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
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
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
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
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 ...
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
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