coldwarkid79
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it all depends on how much you can pay a month...obviously you can get it down faster the more you pay a month...id suggest checking if there are any umclaimed properties in your name...you will be surprised how much is out there that is unclaimed... |
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tiescore
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Try out this snowball debt repayment calculator:
http://www.whatsthecost.com/snowball.aspx?country=us
It helped me pay off all but my super low rate school debt. enter your debts, then play around with the amount you want to pay each month....
Also, watch the financial news, rates are dropping, and if you haven't yet you can re-fi your student debt once. E-loans referred me to my lender. |
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Lancez
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It really depend on how much you pay per month |
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driver43
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1000.00 a month for 15 month or 500.00 a month for 30 month etc. |
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folklore
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The rate will probably change, so amortization may not calculate, but the term is usually 15 years from date of repayment. |
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Yo, Teach!
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Assuming a 10 year loan (pretty much standard for student loans) the following should be true:
Payment: 181.99
Total paid lifetime of loan: 21,838.97
Total interest paid lifetime of loan: 6,838.97
This is from a spreadsheet I made using a common loan repayment formula. I used it when I bought a car and the payment amount, total paid, and interest paid were spot on. The loan officer at the bank was very impressed. Most people use general compound interest formulas for this and they are usually off by 10-30 dollars a month. |
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rayt721
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Your request is missing one of two equations ... if you know how many payments you have to make we can calculate the payments and if you know the monthly payment we can figure out the number of payments but what you're asking has too many variables to answer you with. Now who said math wasn't an important subject in school??? |
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bud68
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The monthly payment determines how long. How much can you afford? |
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southarkansas
 |
you needed to include how many months the loan is to be paid back |
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leonardhomes@sbcglobal.net
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It will take less than 24hrs if you have the cash. |
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Steve
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There are many financial calculators out there. JUst plug in the information that you know and you can figure out the payment or the amount of time that it will take to make the payments if you know the payment.
Here are the numbers that you need to plug in based upon the information given.
Present Value (PV) or current balance = 15000
Future Value (FV) or ending balance = 0
Interest rate (I) =.08 Note: divide by the frequency of payments per year, usually 12.
Number of payments (N) = undetermined at this moment.
Payment per installment (P) = undetermined at this monent, usually monthly.
Without any other information, as long as you don't increase the amount of your loan, you should be able to pay it off in about 5 years. Think of it as a car payment. |
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barbie349157
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ha ha a long time i hope you have no plans of a social life for the next 5-10 years |
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