Loan Recurrence Visualiser
Watch A_n+1 = (1+r)*A_n - M show how each repayment reduces the principal.
A_n+1 = 1.00417 * A_n - 2500
Final Balance
$0
After all periods
Total Repaid
$0
Principal + interest
Total Interest
$0
Cost of borrowing
Paid Off In
0
Years to clear
Amortisation Table
| Period | Start Bal | Interest | Repayment | Principal Red | End Bal |
|---|
Loan Balance Over Time
Task: Set P=$500k, r=6%, M=$3,000. Is the loan paid off in 30 years? Find the minimum monthly repayment needed to clear it in exactly 30 years.