by John
(Woodbury)
What is the total loan payoff? Amount borrowed $4500. Interest rate 5.0% 20 year loan no payments made.
by Anonymous
What is the payoff on a $10,000 loan with an interest rate of 6 percent for 36 months, if I want to pay it off after only 14 payments.
Comments for Installment Loan Payoff




by Nancy Dunn
(Houston TX )
I need steps that help me understand the amount of interest we are paying monthly. If I pay more on the principle it seems they charge us more interest...this does not make sense....need the way as I know the amount that we financed.
Answer
You need a loan amortization schedule. Go to the link above and put in the particulars of your loan. It will calculate the amount of interest and principal you pay each month for the life of your loan. Just be careful if you decide to print it. It wants to print 10 pages every time.