|
|
|
|
This tool allows you to quickly compare how slight increases or decreases in the interest rate and/or principal amount affect the monthly payment.
Changing the value in the Amount, Interest Rate, or Term boxes, or changing the Dollar Amount or Percentage Rate Increment will automatically cause the payment chart to be recomputed. To find the monthly payment for the inputted loan parameters, simply locate the cell at the intersection of the yellow shading. In this example, the monthly payment is $566.26. Following the yellow shading left and right allows you to see what variations in the Interest Rate do to the monthly payment. Following the yellow shading up and down allows you to see what variations in the Loan Amount do to the monthly payment. The cells outside the yellow shading allow you to see what variations in both the Interest Rate and the Loan Amount to do the monthly payment. To change the variations, click the radio buttons at the top.
|
|
Send mail to [email protected] with
questions or comments about this web site.
|
