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Loan Payoff Time
Calculates after how many years a loan is fully repaid at a given installment.
Type values, assign them with the value keys and press "Solve". It is the same financial calculator as under "Calculator" in the menu above.
Examples for this calculator
Each example is a story with explanation and a "what you learn" takeaway.
Formula
n = ln(R/(R − D·i)) / ln(1+i), i = i_nom/m
How the formula works
Here too the term sits in the exponent and is solved via the logarithm. The key point: the more the installment exceeds the pure interest load (D·i), the faster the debt melts away – small installment increases shorten the duration disproportionately.
Solving the annuity formula for the term.
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