Roeser Accountancy - Fresno Accountant, Business Valuation, & Financial Consultant

Consumer Debt Payment Analysis

This calculator helps determine your loan or line payment. For a loan payment, select fixed term loan. For a line payment, you can choose 2%, 1.5% , 1.0% of the outstanding balance or interest only.

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Definitions

Loan amount:
Total dollar amount of your loan.

Interest rate (APR):
The annual percentage rate for this line of credit.

Term in months:
Number of months for this loan

Tax rate:
Your combined state and federal tax rate.

Fixed loan term:
Traditional amortization produces a fixed monthly payment. The monthly payment calculated will leave a zero balance at the end of the loan's term.

2%, 1.5% or 1% of Balance:
Your minimum payment is calculated by adding all interest accrued for the month plus a percentage of the outstanding principal balance. Your minimum payment will change each month, and if you only make the minimum payment your balance will not be zero at the end of your loan's term.

100% Interest Owed:
For loans paying interest owed, your payment is 100% of the interest accrued during the month but no principal. Your payment may not be fixed if your interest rate or principal balance changes.

The information presented is of a general nature only and may omit details related to your particular circumstances, and accordingly cannot be regarded as legal or tax advice. Please contact the office to discuss how this information pertains to your specific financial or tax situation.