Sep-19-2008
Pay off loan early – calculator to figure out balance left with advance payment?
My exhusband is making me payments towards a $25,000 settlement. Our argreement is $250/month at 6.5% interest. He said he would like to make advance payments but isn’t sure how this will effect the extent of the loan. He asked his bank and was told he would have to figure it out long hand. Is there some computer program to help figure this out? He has said unless I can figure it out he may just continue with the $250 payments. I could really use the extra cash to pay off my lawyer bill. Any help would be appreciated!
Try this one. It has a place where you can enter extra payments.
There are others out there. I put loan calcualtor in the search box and got several choices.
If you have Microsoft Excel you can use it to calculate the payments. There is a template on the microsoft web sit that you can use.
Go to the following link and use the search box to find the template for loan payments.
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