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Company Loan Type APR Est. Pmt.

bi monthly payments on a neg am

Posted on: 04th Jan, 2007 07:06 pm
how would i figure out how much deffered interest there would be on my loan if i paid biweekly on it?
Hi Chrisjkemp,

Welcome to the forums.

You need to calculate the total interest on your loan with monthly payments and then the total interest using the bi-monthly payment option. The difference between the interest amounts gives the deferred interest.

You can calculate the monthly interest using ther FRM Calculator if you have taken a fixed rate loan.

Thanks,

Sara
Posted on: 04th Jan, 2007 07:46 pm
Hey, you can use a bi-weekly payment calculator. it's available at vlender.com/cgi-bin/calc/biweekly.cgi
Posted on: 04th Jan, 2007 11:16 pm
Biweekly payments help to pay off the loan faster. You can go for it.
Posted on: 05th Jan, 2007 01:41 am
yeah, and you pay much lower interest than you pay on a monthly basis.
Posted on: 05th Jan, 2007 01:44 am
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