A free arithmetic tool. It is not advice, and nothing about you is being assessed.
This calculator performs arithmetic on figures you type, in your own browser. Nothing is sent, saved, stored or seen by anyone. There is no form, no submission, no account and no tracking — no mechanism exists by which your figures could reach the author or anyone else. Close the page and nothing remains.
It is not advice — financial, insurance, investment, tax or legal. It is not a needs analysis, not a suitability assessment, not a recommendation and not an offer. It models no financial product of any kind, and the rates you enter are your own assumptions, not rates offered or achievable anywhere. No determination is made about you and nothing is being sold to you on this page.
Real loans and real investments carry fees, taxes, compounding conventions, penalties and terms this simple arithmetic ignores. Treat any figure here as a rough illustration to take to your own advisers, never as a quotation, a projection or a basis for a decision. Nothing here creates a professional-client relationship.
The author accepts no responsibility for any decision made on the basis of this tool.
Lenders compete on the monthly payment because it is the number people compare. Stretching a term lowers that number while raising the total considerably.
This compares the two sets of terms you type, on identical assumptions: fixed rate, equal monthly payments, no fees. It does not recommend either one — the right choice depends on circumstances arithmetic cannot see.
Your figures
That is arithmetic on the terms you entered. It is not a recommendation of either loan, not a quotation, and no lender is bound by it. Take it to your own advisers.
A free arithmetic tool. It is not advice, and nothing about you is being assessed.
This calculator performs arithmetic on figures you type, in your own browser. Nothing is sent, saved, stored or seen by anyone. There is no form, no submission, no account and no tracking — no mechanism exists by which your figures could reach the author or anyone else. Close the page and nothing remains.
It is not advice — financial, insurance, investment, tax or legal. It is not a needs analysis, not a suitability assessment, not a recommendation and not an offer. It models no financial product of any kind, and the rates you enter are your own assumptions, not rates offered or achievable anywhere. No determination is made about you and nothing is being sold to you on this page.
Real loans and real investments carry fees, taxes, compounding conventions, penalties and terms this simple arithmetic ignores. Treat any figure here as a rough illustration to take to your own advisers, never as a quotation, a projection or a basis for a decision. Nothing here creates a professional-client relationship.
The author accepts no responsibility for any decision made on the basis of this tool.