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Loan Math

Loan math is a simple tool to visualize how adding extra payments can affect the payoff date and the total interest paid.

Loan Details

The balance of the loan at the start date below.
The minimum monthly payment required.
The annual interest rate of the loan.
The date the loan was started. This will be the first payment date.

Extra Payments

The additional amount you will pay each month. This will be added to the base monthly payment.
The additional amount you will pay on the specified date.