How to Use the Loan Repayment Calculator
With this loan repayment calculator you can see how quickly you could repay your loan. For example if you owe a $10 000, for 5 years, at 10% interest rate to a bank, your monthly installment/payment should be around $213. But at some poin of time you start earning more cash and you would probably want to see what time would be needed to repay your debt, if you had payed $400 per month. So, using this loan repayment calculator you can do this very easily. Just fill the needed data and as a monthly installment type 400.
After clicking on the "calculate" button, you will see, that paying $400 per month would reduce your debt to ZERO after just 2 years and 5 months
You can also try our business loan calculator here, with which you can see the basic parameters and conditions of such a loan. It's a very convenient tool to get a basic idea about the monthly payment at certain interest rate, about the payment plan and much more...