| This calculator will help you to
compare the total interest charges of four different loans.
Instructions:
To calculate the payment amount and the total
interest of any fixed term loan, simply fill in the 3 left-hand cells
of the first row and then click on "compute." Use the other three rows
to see what effects are produced by changing any one of the loan's original
variables.
Years
vs. Payments:
|
Years
|
30
|
20
|
15
|
|
Payments
|
360
|
240
|
180
|
|