Thanks for your help. I can’t find any online calculators to help me with this:
$ 7048.75 balance as of today
26 Payments remaining
$ 295.00 monthly payment
Loan maturity date is 08/22/2010
8.44% Simple Interest
No penalty for early payoff
take 295.00 x 26 and subtract 7048.75 from that number – the difference is your savings
take 295.00 x 26 and subtract 7048.75 from that number – the difference is your savings
References :
If you’re half way through, you paid about 70% in interest. So you wouldn’t be saving that much.
References :
Retired bill collector 35 years