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How to Use the Loan Payoff Calculator
1 — Enter Your Loan Details
Add your loan balance, interest rate, and (if applicable) your current monthly payment.
2 — Choose Your Payoff Mode
The calculator supports two approaches:
• Target Monthly Payment
Enter the payment you want to make each month. The calculator will compute how long it will take to pay off the loan and how much interest you’ll pay over time.
• Target Payoff Duration
Enter the number of months (or years) you want the loan paid off by. The calculator will compute the required monthly payment to meet that goal.
3 — Review Your Amortization Results
See how each payment is split between principal and interest, how the balance declines, and how much total interest you’ll pay.
4 — Explore the Payoff Chart
Visualize your loan balance over time, total payments, and interest paid. This helps you compare payoff strategies.
5 — Compare Scenarios
Test different payment amounts or payoff timelines to see how they affect total interest and loan duration.
6 — Download your loan amoritzation scshedule
Save your results as a CSV.