Unknown Payment Calculator
Loan Amount =
Total Term =
Known Interest Rate =
Desired Avg Interest Rate =
Payment Timing = 0
End Balance =
Payment = 0
Term = 0
End Balance =
Remaining Term =
Interest Rate =
Interest Rate Peg =
Interest Rate Peg Date = 0/0/0
Calculates a payment to achieve an average desired interest rate over the life of a loan. Assumes the rate is different between an initial period and a subsequent period of months. Can optionally add one or two different payment periods before calculating the remainder and average interest rate.
- Loan Amount: Amount of the loan.
- Total Term: Total number of months or years for the loan.
- Known Interest Rate%: Interest rate for the known payment periods expressed as a percentage.
- Desired Avg Interest Rate%: Desired average interest rate expressed as a percentage.
- Payment: Monthly payment over the period.
- Term: Number of months or years for the payment period.
- End Balance: Ending balance of the period.
The second known payment period is optional.
- Remaining Term: Months or years remaining in the loan after the initial period.
- Interest Rate%: Interest rate over the remaining life of the loan needed to achieve the desired average.
- Payment: Monthly payment for the remaining periods.
- Interest Rate Peg%: Optional interest rate that indicates the the rate the desired interest rate is pegged to.
- Interest Rate Peg Date: Optional date of when the peg interest rate was sampled.
Given a $100,000 loan, a 5% interest rate and $2,000 per month payment over the first 36 months of the loan, what would be the monthly payment over the remaining 24 months of the loan to achieve a 7% interest rate?
- Loan Amount: 100,000.00
- Total Term: 60 months
- Known Interest Rate%: 5%
- Desired Avg Interest Rate%: 7%
- Initial Payment: 2,000.00
- Term: 36 months
A 10% interest rate over the final 24 months yields a monthly payment of $1,783.07.
Known Interest Rate
Desired Avg Interest Rate
Interest Rate Peg
Interest Rate Peg Date