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How Long to Repay Calculator

Description

This calculator helps you find out how long it would take to repay a loan by paying different amounts.

Assumptions

  • It does not take into account any possible fees i.e. up-front fees or ongoing fees.
  • Interest rate does not change over the loan term.
  • Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
  • It is assumed that a year consists of 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
  • No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.

 

Feel free to call us on 1300 537 000 or  contact us if you need assistance with the calculator

How Long to Repay Calculator
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How Long to Repay Calculator

Description

This calculator helps you find out how long it would take to repay a loan by paying different amounts.

Assumptions

  • It does not take into account any possible fees i.e. up-front fees or ongoing fees.
  • Interest rate does not change over the loan term.
  • Interest is calculated by compounding on the same repayment frequency selected, i.e. weekly, fortnightly, monthly. In practice, interest compounding frequency may not be the same as repayment frequency.
  • It is assumed that a year consists of 26 fortnights or 52 weeks which is counted as 364 days rather than 365 or 366 days.
  • No rounding is done throughout calculation whereas repayments are rounded to at least the nearer cent in practice.

 

Feel free to call us on 1300 537 000 or  contact us if you need assistance with the calculator

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