i'm wanting to get my car refinanced and i'm trying to figure out how much money i'm saving by doing this... i don't know how to figure up how much interest i would be paying on the pay off amount... anyone know how to do this?
2006-11-21 03:55:16 · 4 answers · asked by brandiamour 2 in Business & Finance ➔ Other - Business & Finance
multiply amount owed(pay off) by % and add. subtract that amount from the original amount. if I am understanding you correctly.
2006-11-21 04:00:00 · answer #1 · answered by nwnativeprincess 6 · 0⤊ 0⤋
Using Microsoft Excel or a financial calculator, you will need to know your current amount owed, months to payoff and interest rate. Enter this into the correct formula in Excel (ISPMT) and it will calculate total interest paid. Then do it again for the new interest rate.
2006-11-21 12:10:20 · answer #2 · answered by Thomas T 2 · 0⤊ 0⤋
Do a google search for a loan calculator. Most are very easy to use.
2006-11-21 12:03:21 · answer #3 · answered by neverwintergirl80 1 · 0⤊ 0⤋
sorry I don,t know
2006-11-21 12:16:25 · answer #4 · answered by pattibcacl 6 · 0⤊ 0⤋