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Missing Loan-Term Calculator
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If you know any 3 of a loan's 4 terms (principal, interest
rate, payments remaining, and payment amount), this calculator will help
you to find the missing term. For example, if you know the interest rate,
the payments remaining, and the payment amount, this calculator will compute
the current payoff amount of the loan. All results should be interpreted
as close approximations (testing to date has shown results to be accurate
within .002% of the actual).
Instructions: Enter the 3 known loan terms in the appropiate
entry fields and click on "Compute." Note that when trying to find the
interest rate, please select a "guess" from the pull-down menu by the
same name. The closer your guess is to the actual interest rate, the faster
the calculator will arrive at a result. If you don't select a "guess"
the calculator automatically starts out at a 10% guess and works up or
down until it finds a close approximation. If it turns out the actual
rate is 19.95% it could take the calculator as many 56,000 iterations
to find the answer. On the other hand if you had "guessed" 19% the calculator's
iterations will be reduced significantly.
Note: Note: Other than decimal points, do not
enter any other non-numeric characters (commas, dollar signs, percent
signs, etc.) in the entry boxes. Doing so will cause a JavaScript error.
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| Principal (current payoff amount) |
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| Interest Rate
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# of Payments Remaining |
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| Payment Amount |
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