|
Bi-Weekly Vs. Monthly Loan Calculator
|
|
This calculator will help you to compare the costs between a loan that is paid off on a bi-weekly payment basis and a loan that is paid off on a monthly basis.
|
Enter the principal balance owed:
(call your lender and ask for the current payoff amount)
|
|
|
Enter the annual interest rate percentage:
|
|
|
Enter the number of months:
|
|
|
|
|
Here is your monthly payment amount:
|
|
|
Here is your bi-weekly payment amount:
|
|
|
This is how much interest you will pay using monthly payments:
|
|
|
This is how much interest you will pay using bi-weekly payments:
|
|
|
Bi-weekly Mortgage Interest Savings:
|
|
|
|
