If this is unavailable, there is a mathematical formula to determine how many more payments a loan holder must make. Step 1 Determine the amount of remaining principal, payments and the interest rate on the loan. For example, a former student has $20,000 remaining in principal on a colleg...
the number of remaining lease payments, the amount of each payment and any excess mileage penalties attached to the lease. You’ll also need to know your state’s sales tax rate. After running the numbers, you are in an excellent position to demand the best deal ...
When you make monthly payments on a loan, it helps to know how long you have left to pay it off so you can better budget your money. By using a formula and some basic information about your loan, you can calculate the number of months until you're free of the debt. This formula wo...
n = number of coupon payments periods remaining until the bond matures i = the required rate of interest per period. This is not necessarily the stated interest rate for the bond, but rather the prevailing interest rate demanded by buyers of new, similar bonds M = value at maturity, also ...
Divide your interest rate by the number of payments you’ll make that year. If you have a 6 percent interest rate and you make monthly payments, you would divide 0.06 by 12 to get 0.005. Multiply that number by your remaining loan balance to find out how much you’ll pay in interest ...
The formula to calculate auto loan payments is shown below: Where: PMT = loan payment PV = present value (loan amount) i = period interest rate expressed as a decimal n = number of payments Example Suppose you wish to purchase a car that costs $32,000 after tax. The trade-in value ...
If you have a 6 percent interest rate and you make monthly payments, you would divide 0.06 by 12 to get 0.005. Multiply that number by your remaining loan balance to find out how much you’ll pay in interest that month. If you have a $5,000 loan balance, your first month of ...
times (1 + i) ^n }{ (1 + i)^n - 1 } \Bigg ] \\&\textbf{where:} \\&i = \text{Monthly interest payment} \\&n = \text{Number of payments} \\\end{aligned}Total Payment=Loan Amount×[(1+i)n−1i×(1+i)n]where:i=Monthly interest paymentn=Number of payments...
Number of payments remaining: Recast loan balance: Recast ComparisonPaymentInterest Existing terms: Recast terms: Recast savings If you received value from this calculator, please pay it forward with a Share, Like, Tweet, Pin, or Link. Thank you! -Dan ...
Start with the Loan Comparisons tab when deciding the best loan for you. You can see the payment amounts for various interest rates. You can also compare amounts based on the total number of payments, payment frequency, and different down payment amounts. ...