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Wednesday, May 14, 2008

Loan Amortization Calculator

Here is a nice calculator from Bankrate.com on calculating loan payments and amortizations. As I wrote before in Personal Finance Math, an equation that one should know is for loan amortization. For those that prefer not to work with the math, this calculator can provide the following:

  • Monthly payments, with interest and principal breakouts.


  • The impact of increasing monthly payments or making regular payments to reduce principal.

    • Enjoy!

    For more on The Practice of Personal Finance , check back every Wednesday Thursday for a new segment.

    This is not financial advice. Please consult a professional advisor.

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    1 comment:

    1. Anonymous5/14/2008 4:56 PM

      Thats a great calculator. It is important to get an reality check by calculating your debt or networth or hoe much that shinney new tv is actually going to cost you.

      ReplyDelete

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