Welcome to Calculate Loan payoff

This application demonstrates how you could take an existing amortization loan schedule, add recurring payments and/or one or multiple one time payments to pay the loan off faster

Usage

Beginning Balance: This represents the initial loan amount

Interest Rate: This represents the loan interest rate

Compounds: This represents the rate compounding frequency

Payments Per Year: This the represents how many payments you expect to make in a calendar year

Loan period (in years): This represents the number of years required for loan payoff

Extra payment: (Optional) This represents any extra payments to add to the loan schedule for each payment and triggers its usage

Extra payment start date: This represents the date you intend to start extra payments

Extra payment end date: This represents the date you intend to end extra payments

One time payments: This represents the ability to add additional one-time payments at various times in the loan schedule

Results: This shows the realized payment schedule

Export: This functionality allows for the exporting of the results