Help clients understand loan logistics and compare loans
The Loan Analysis Calculator shows borrowing from a private party and allows you to print an amortization schedule to show payback of monthly payments with the interest rate and the declining loan balance. Clients can see the effect of paying a loan back at a faster rate on both tax deductible and non-deductible loans to make informed, efficient decisions.
$10,000 at 5% over 12 months.
One way to use the calculator: You can demonstrate the efficiency of a 15-year mortgage vs. a 30-year mortgage with a side fund where the difference between the 15 and 30-year payment is saved and invested.