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Loan Calculator – Version 10/98
All Data Entry cells show up in red.
This calculator determines the periodic payments required for any loan. Indicate the dollar
amount of the loan, the loan interest rate, the number of payments per year,
the number of years in the term of the loan, and the calculator indicates the
necessary loan payments.
The total cost of the loan is also provided for you. This is the total number of
payments multiplied by the amount of each payment. This will underscore the cost of
borrowing money. It is not recommended to borrow money for depreciating items. The Cash
for Car calculator illustrates for you how paying cash for cars instead of borrowing can
benefit the bottom line of your retirement nest egg.
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