Unknown Payment Calculator
Loan
Loan Amount =
Total Term =
Known Interest Rate =
Desired Avg Interest Rate =
Payment Timing = 0
First Payment
Payment =
Term =
End Balance =
Amortization =
Second Payment
Payment = 0
Term = 0
End Balance =
Amortization =
Remainder
Remaining Term =
Interest Rate =
Payment =
Amortization =
Other
Interest Rate Peg =
Interest Rate Peg Date = 0/0/0
Help
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.
First/Second Payment
- 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.
Remainder
- 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.
Other
- 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.
Examples
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.
Keywords
Loan Amount
Total Term
Known Interest Rate
Desired Avg Interest Rate
Payment Timing
Payment
Term
End Balance
Amortization
Payment
Term
End Balance
Amortization
Remaining Term
Interest Rate
Payment
Amortization
Interest Rate Peg
Interest Rate Peg Date
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