Use this calculator to calculate loan and debt repayments. You can use it to estimate payments for credit card debt, car loan payments, mortgages, and other loan repayments.
1. Enter the debt or loan amount.
2. Enter the length of the loan or the desired debt payoff time period.
3. Enter your growth rate as the Annual Interest Rate (somewhere between 5-7% is probably best to stay conservative) – real rates could be higher or lower.
4. Select ‘End-of-Period’.
5. Click the ‘Calc’ button.
The output of the calculator will provide the monthly payment, total interest paid, and the total payment for the loan including principal and interest.
Click on ‘Payment Schedule’ to see the breakdown for the repayments of the debt/loan.