Q:

How do you create a loan repayment chart?

A:

Quick Answer

Loan payment charts are often populated based on information entered into fields on certain loan websites like BankRate.com, which features a printable table. This particular calculator helps to determine how much monthly income should go toward the principal and how much toward the interest, states Bankrate.

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Full Answer

A loan payment chart calculator can create charts that are typically used to compare loans using various interest rates, fees and loan terms, according to FinAid.org. These calculators can also create charts to compare monthly payments, total payments, and total interest paid as well as generate totals using concrete dollar amounts or the percentage of change over a standard 10-year term.

The initial loan balance is adjusted with loan fees, FinAid.org states, so that the borrower still earns the same amount after fees are deducted. The term of the loan is used in the charge, and it includes the standard 10-year repayment as well as 12-, 15-, 20-, 25- and 30-year terms.

TheCalculatorSite.com has two separate calculators to choose from. The first details monthly repayment figures for both secured and unsecured loans while the second gives an estimate of how soon the loan can be paid off based on current payments, states the website.

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