How do you calculate the remaining number of months on a loan? This Loan Analysis “hack” makes it simple to determine, all you need is the remaining loan balance, the rate, and the monthly payment.
For example, let’s say your client had a remaining loan balance of $50,000 and they’re paying 5% interest on that loan. Their payment is $1000, and neither of you know the exact time frame remaining on that loan.
In Loan Analysis, once you fill in the loan balance and the interest rate, right click on the “Payment” box (before you fill it in). A new box will pop up that gives you two options. Click on “Calculate Time From Payment.”

A new box will appear, giving you the option to input your monthly payment.

Then you can fill in the payment amount and the calculator will do the rest. This particular loan has 56 months remaining. If you want to continue this analysis, you can change your illustration period (at the top center) to 56, and you’ll be able to see the whole amortization schedule from there!
