Prime Rate Credit

May 20, 2006

Loan Comparison Calculator

Filed under: Ways to Save — CleanedUpCredit @ 1:00 pm





Below you will find a valuable resource for comparing loans that you may have looked in to, as well as a resource to tell you how much you need to save to attain a certain goal (amount of money). As long as you know the APR and the principal balance you would like to balance against, you can figure out which loan will be the better deal for you in the end..

Loan Comparison Calculator
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.

# of
Payments		 Interest
Rate		 Principal Monthly
payment		 Total
Interest
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