Let's say you make 3 to 400 dollar payments. Does it depend on the kind of loan and interest and stuff like that?
2006-10-01 15:33:50 · 4 answers · asked by Trish H 3 in Business & Finance ➔ Credit
Bankrate has a great tool that can answer that question for you. Of course, you need to know the interest rate you're working with. Plug in the numbers you have and hit calculate...
==> http://www.bankrate.com/brm/calc/MinPayment.asp <==
For instance, a $25,000 loan at $400 a month at a rate of 10% would take you 89 months (almost 7.5 years) to payoff. Check it out... its very useful.
2006-10-01 16:51:28 · answer #1 · answered by abcdgoodall 4 · 1⤊ 0⤋
Yes. Depends on interest rates. I have a 34 thousand dollar loan that has aroung 8% interest and I get 10 years to pay it off, but if you pay around 300 a month it should take about 6-7 years (without interest).
2006-10-01 22:39:59 · answer #2 · answered by h2gj87 4 · 0⤊ 0⤋
6 yrs
2006-10-01 22:42:17 · answer #3 · answered by nora7142@verizon.net 6 · 0⤊ 0⤋
7 to10 years dont do it
2006-10-01 22:48:44 · answer #4 · answered by rradboys 3 · 0⤊ 0⤋