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Alternative Payment Frequencies
Use this calculator to determine your payment or loan amount for different
payment frequencies. You can make payments weekly, bi-weekly, semi-monthly,
monthly, bi-monthly, quarterly or annually. You can then examine your principal
balances by payment, total of all payments made, and total interest paid.
Definitions
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Payment
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Payment for this loan.
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Interest rate
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Annual interest rate for this loan. Interest is calculated per period on
the current outstanding balance of your loan at the annual rate divided by
the number of annual periods.
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Payment
- The
type of payment for this loan. The options are weekly (52 payments per
year), bi-weekly (26 payments per year), semi-monthly (24 payments per
year), monthly (12 payments per year), bi-monthly (6 payments per year),
quarterly (4 payments per year), and annually (1 payment per year).
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Number of payments
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Number of periods for this loan. This is the total number of scheduled
payments for the loan.
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Loan amount
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Total beginngin loan balance.
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