Payoff Date: Date when the loan balance is paid down to zero, adjusted for any entries you enter in Early Payoff Options.Original Loan Amount: Amount of principal owed on the loan prior to any repayment.Interest Savings: Total amount of interest saved by making the extra payments you entered until the loan is paid in full.Interest Rate: Annual interest rate for the loan.First Payment Date: First periodic payment due date.+ Extra Single Payment: Add one-time extra payment amount at the date you specify to reduce the principal balance of the loan.+ Extra Monthly Payment: Add extra payment amount every month from the date you specify to reduce the principal balance of the loan.Compounding Period: Length of time in which interest is computed.If you do not specify an amount in this field, the Original Loan Amount and the First Payment Date will be used. Beginning Balance: Beginning principal balance at the date you specify.Email Option lets you export and email loan summary and tables.Compounding Period Option allows you to choose from 5 compounding periods, ranging from monthly to yearly.Amortization Table displays each payment details, including payment amount, interest paid, principal paid, remaining balance, date, and the number of remaining payments.Comparison Table displays the loan balance for each payment period based on the Original Schedule, Current Schedule (different from Original if extra payments were made in the past), and Current Schedule with Extra Payments (what-if scenarios) options.Extra Payment Options allows you to try out various payment scenarios to pay off your loan early and save money in interest.All amounts are rounded to the nearest cent.Last calculation is automatically saved so that loan information is available even after restarts.Shake-to-reset function lets you clear all values.Large numeric keypad allows easy entry of values.
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