Normal Repayment Schedule
Given a principal of $ and a rate of %, your monthly payment
will be $ and will take years
( months) to pay off.
You will pay a total of $ of which $ will be
interest.
Extra Payments
Your extra payments will allow you to pay this loan off years from now ( years total). That is
years sooner than you would have on the normal repayment schedule.
By making extra payments, you will end up paying $ in interest. That is
a savings of $ from the normal repayment schedule.
Because you already made extra payments before now, I cannot calculate how much money you have
saved in interest payments. However, if you know how much interest you have payed until now, you can add it
to $ to determine how much total interest you will pay. Then compare that
to the interest you would have payed following the normal repayment schedule.
Monthly Repayment Table
| Month |
Principal Remaining |
Interest Payment |
Principal Payment |
Total Payed |
|
|
|
|
|