Posted by OR on 3/8/09 12:43am
Msg #280005

I have a math question...

We just made a big purchase and I would like to add extra each month to the balance. Where do I find the tools to calculate the rate of pay off. I know if it was my home loan and I paid $100.00 extra a month I would pay off a 30 year note in 17 years. But if I put $200.00 a month twords the ballence what would that do. Or can any one tell me where do I find the tools to calculate that. Thank you so much in advance for all your help.

I wont be able respond until tomorrow after noon so if you have questions I will answer them then. tks again

JoAnn Baracosa
Simple Solutions Notary Service

Reply by MichiganAl on 3/8/09 1:05am
Msg #280006

Are you talking about an amortization schedule?



http://beta.bankrate.com/calculators/mortgages/amortization-calculator.aspx

Reply by OR on 3/8/09 3:11am
Msg #280011

Re: Yes you rock Alex.

Thanks Alex. I tried to use quickens loan caculator but it won't let you add an payment. This is exactly what I was looking for. Have a great Sunday.

Reply by Lee/AR on 3/8/09 7:52am
Msg #280013

Here's a link to a bunch of cool tools

http://www.cheapskatemonthly.com//calculators/use_calculator.asp?calcid=33

Poke around this site some. Lots of help here.

Reply by BrendaTx on 3/8/09 8:58am
Msg #280017

Oh yes, Lee...I am a fan of Mary Hunt!

Love her newsletter.

Reply by jba/fl on 3/8/09 9:29am
Msg #280018

Me too! Love the sensibility of it all. n/m

Reply by OR on 3/8/09 6:59pm
Msg #280033

Re: Lee thanks That one rocks too

Thanks to the great link. Now my husband can see the value to the intrest rate and how to get rid of one.