WT-024
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FINANCE / LOCAL UTILITY
Loan Calculator
Calculate loan payments, total interest, payoff time, and savings from extra monthly payments.
LOANS
LOCAL
NO DATA SENT
LOAN WORKBENCHPAYMENT / EXTRA PAYMENT / PAYOFF / INTEREST
LOAN INPUTSAMOUNT + APR + TERM
ORIGINAL TERM—
MONTHS SAVED—
TOTAL PAID—
FIRST MONTH INTEREST—
AMORTIZATIONYEAR-BY-YEAR WITH YOUR EXTRA PAYMENT
| YEAR | PRINCIPAL | INTEREST | ENDING BALANCE |
|---|
READYEnter an amount, APR, and term. Extra payment is optional.
LOCAL TOOL: Loan calculations run entirely in your browser. Lender fees, compounding conventions, and payment timing can vary.
FIELD NOTE / 024
Extra principal can change the cost of a loan dramatically.
The base payment shows what the original loan requires. Add an optional extra monthly payment to see how quickly the balance falls, how many months you save, and how much interest you avoid over the life of the loan.