Note: This interactive calculator is intended as an educational tool but not as investment advice. The information presented isn’t designed to advise you of strategies which are applicable to your specific situation but rather to highlight issues for your consideration. Therefore, you should always consult your financial or tax advisor. Your own goals will help you to develop a specific financial strategy.
To embed this calculator into your site, copy the following text and paste it into your HTML page:
Enter a valid value for the total loan amount
Enter a valid value for the loan interest rate
Enter either the payment or the loan length, but not both
Enter a valid value for either the monthly payment or the length of the loan in months
The monthly payment you entered is less than or equal to your first interest payment. Given that minimum payment, the balance will never be paid off.