Loan Math

Loan math is a simple tool to visualize how adding extra payments can affect the payoff date and the total interest paid.

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Loan Details

$
The balance of the loan at the start date below.
$
The minimum monthly payment required.
%
The annual interest rate of the loan.
The date the loan was started. This will be the first payment date.

Extra Payments

$
The additional amount you will pay each month. This will be added to the base monthly payment.
$
The additional amount you will pay on the specified date.