Interest Payment Calculator

The purpose of this calculator is to demonstrate how many payments and how much interest you can save by paying a little bit more each month on your loan.

The top part of this calculator uses your current monthly payment.
Enter the dollar amount charged: 
$
Enter the annual interest rate: 
      %
Enter the current monthly payment amount: 
$
  
Interest Charges: 
$
Number of Payments: 
  
Now add an additional amount to your monthly payment
(and click the Compute button again)
Additional Amount per Month: 
$
Revised Interest Charges: 
$
Revised Number of Payments: