How Long Will Your Money Last?

Here is a new twist on the mortgage calculator. Here you tell how much you want to spend each month, an interest rate and a loan amount, and the computer tells you how long it will take you to pay it off!
Beginning Balance of Loan
Minimum Monthly payment
Maximum Monthly payment
Annual percentage rate (%) (fixed loan)

If you get a result of 100 years...
1) The payment is too small at that interest rate and loan amount to pay off the loan within 100 years or
2) Each monthly payment is too small at that interest rate and loan amount to cover 100% of the first month's interest.
That creates a situation where the unpaid interest increases the loan balance each month and the loan will never be paid off -- known as "negative amortization". Increase the monthly payment, lower the loan amount, or lower the interest rate to bring the result below 100 years.

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