This calculator shows works in two modes selected in "I want to know:" area. If you choose "What will happen if I pay extra" the software will calculate when you will pay off this debt and how much interest you will payto the bank as opposed to your current debt plan.
If you choose "How to be debt-free after" option the calculator will show you how much you need to pay monthly in order to pay off your debt after the desired time period.
Your current debt balance, the annual interest of your loan and the current monthly payment are required fields.
The calculator uses monthly compounding formula which makes the results most accurate for mortgage-type loans.
Debt Reduction Calculator is a free software application from the ASP & PHP subcategory, part of the Web Development category.
The app is currently available in English and it was last updated on 2009-12-01. The program can be installed on Linux, Unix, Not Applicable.
Debt Reduction Calculator (version 1.0) has a file size of 3.00 KB and is available for download from our website.
Just click the green Download button above to start. Until now the program was downloaded 284 times.
We already checked that the download link to be safe, however for your own protection we recommend that you scan the downloaded software with your antivirus.