The payoff of any loan involves four values – the loan amount, the loan duration, the interest rate, and the payment. With the Loan Calculator, the user can determine any one of these values, given the other three.
Why might you want to perform these calculations? In addition to the common questions of “how much are my payments?” or “how much can I afford to borrow?” you can also answer questions like “how will the length of the loan be effected if I add an extra amount to the payment?” or “Is it more effective to take a very low interest car loan or an alternative cash rebate?”
In addition to a help file there are detailed, step by step examples of how to answer each of these questions.