![]() ![]() Thus the total amount you'll pay for the loan.Įleven loan options you may want to tweak. Total Principal & Interest - the loan amount plus the total interest paid.Note, the total interest saved is reported on the payment schedule. Total Prepaid Principal - this is the total of any extra payments.Total Interest - assuming the debtor makes the payments as scheduled, this is the interest they will pay over the term of the loan.See the payment schedule for total interest saved. Results - your loan summary Loan calculator showing lump sum payment made. For a complete explanation of these options, see Nine Loan Amortization Methods. Amortization Method - leave this setting set to "normal" unless you have a specific reason for setting it otherwise.Setting this option to "Exact/Simple" results in simple, exact day interest. ![]() Doing so results in simple, periodic interest.
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