They used to make us do this stuff in the numerical methods class I took in college - see how it works and only then do you get to use a computer. I actually got an "A" in that class. You could also sit down and just calculate enough of the cumulative interest each year (twelve...
and pay down your loan faster. Our amortization schedule calculator below includes this option. It helps you figure out how much extra you’ll need to pay each month to, say, pay off your 30-year loan amortization in 20 years.
just plug in the original loan amount and interest rate into an amortization calculator and scroll down to the month you’re currently in to get an idea of what your current balance is. If it has been 20 years, you might be around month 240. ...