Loans have become commonplace in American society. You need them for the most essential things in life, a home, care, and even school but how do you know if you’re getting the best deal? Interest is never fun but now you can find the best route to take by using the free Easy Loan Calculator template. You can instantly calculate the interest amounts for multiple loan options until you find the right fit for you. Too often people go with the first option they’re offered because they think the loaner has their best interest at heart. You can use this template to know for sure, download the Loan Calculator for free today.
Easy Loan Calculator Guidelines
The template is designed to give you comparisons for up to four different loan options. Start by entering the payments per year you’ll be making in the indicated area at the top of the page. For example, if you have to make monthly payments, then the figure you’d enter is 12.
The next step is to dive right into your loan options. Each table is set up in the same way. Start by entering the loan amount you are to receive. Next, enter the annual interest rate for that loan option. The last thing you will enter in the table is the term of your loan in years (the number of years you will be paying your loan amount off).
The template will take all the information you entered into the table and give you the payments you’ll be making monthly and the total interest you’ll end up paying.
Now, go through the various loan options you are offered and enter in all the same information in the next 3 templates. You will easily be able to compare the loan options and find the best possible option for your situation.
If you want to compare options from different providers you can also copy the tab and make multiple pages for that purpose.
With the Easy Loan Calculator, you’re in complete control of the interest you end up spending.
Download: Easy Loan Calculator
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