Ultimate Calculators is a free service. If you would like to support us you can do so by cliking an ad on this website.
If you have a loan, then you probably want to repay your loan as soon as possible, minimizing your interest cost, without sacrificing your quality of life. Use this loan calculator to evaluate and develop a strategy by testing the effects of your repayment options. Full use of double up payments, lump sum payments, unique payments, custom payments, skips, and percentage increases are available.
- Savings payments will increase annually by the inflation rate.
- All tax effects will happen at the marginal tax rate provided by the user.
- Investment returns will be consistent, annual rate of return provided by the user is set as the effective annual rate, and will not be affected by different compounding frequencies.
- Net benefit of contributing tax savings is calculated as the difference in final balances between the two strategies, less the tax savings received as cash.
HTML Comment Box is loading comments...