Shortcut Navigation:

Question for the Money Doctors

Question submitted on Oct 1, 2019.

Question

I want to calculate a loan with a set payment of $400.00 a month. What calculator do I use

Answer

You are missing three very important variables in this calculation.

1.   Beginning balance of loan.

2.   Term of loan

3.   Interest rate of loan

You will need to get this information to be able to evaluate your loan options.

Your phone has this calculator built into the Calculator Function, but it is useless without the information.


For additional information visit //www.360financialliteracy.org/

close