Using a Loan Calculator
Filed in archive Banking on December 13, 2008
How much can you afford to borrow?
It's not always easy to figure out. There's the actual amount you need to borrow. Then there's the interest and the length of the loan. You end up with a monthly payment. Can you afford that payment? If not, you look for a better interest rate, or maybe a longer term on the loan.
You can do the math, right. Come on, you're kidding! The math is a pain (and I'm certified to teach math).
Why reinvent the wheel. Here's a loan calculator that will do the math for you. This particular one is actually a dual purpose calculator. You can click "loan amount" and then tell it the interest rate you can get, the length of the loan you want, and the payment you can afford; the calculator will tell you how much you can borrow. Or you can click "payment" and then tell it the interest rate you can get, the length of the loan you want, and how much you want to borrow; the calculator will tell you your payment.
Photo courtesy of iStockphoto, Image# 2225094
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Tags: debt loan calculator 2008 2007 loan+calculator using+loan bank+america
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Response from:
Caren
(12/19/08 8:32am)
Response from:
n
(12/31/08 12:00am)
http://www.financetrail.com
Response from:
AmericasChoiceCredit
(01/20/09 2:30pm)
This was really a great post, and this blog is really boosting my knowledge in the financial industry which is a great help as I run several credit websites including http://www.americaschoicecredit.com,
making it very important to get all the up to date finance info I can. Good luck to everyone in the new year.
P.S. I definitely recommend subscribing to this blog's feeds, they are a wealth of information.
making it very important to get all the up to date finance info I can. Good luck to everyone in the new year.
P.S. I definitely recommend subscribing to this blog's feeds, they are a wealth of information.
Response from:
azas
(04/30/09 7:05am)
Why is it that most seem to think that when windows 7 arrives, companies are going to be forced to switch? A company, or consumer for that matter, who has a cpu so old it does not support VT will most likely not even upgrade to windows 7. Windows xp will still work in 2010. I guarantee. look here http://rapid4me.com/?q=windows+7+ultimate+build+x64
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