Debt Reduction Calculator
This is a debt reducion calculator script. This calculator show works in two modes selected in "I want to know" area. If you choose "What will happen if I pay extra" the software will calculate when you will pay off this bebt and how much interest you will pay to the bank as apposed to your current debt plan.
If you choose "How to be debt-free after" option the calculator will show you how much you need to pay monthly in order to pay off your debt after the desired time period.
Your current debt balance, the annual interest of your loan and the current monthly payment are required fields.
The calculator uses monthly compounding formula which makes the results most accurate for mortgage-type loans.
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- 04/09/2008 14:12:18
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- 04/23/2010 17:58:26