Bi-Weekly Payment Calculator

Bi-Weekly Payment Calculator
This calculator will show you how much you will save if you make 1/2 of your loan payment every two weeks instead of making a full loan payment once a month. In effect, you will be making one extra loan payment per year -- a small change in budgeting that most people barely notice. But, as you're about to discover, you will certainly notice the increased cash flow that resuts from paying your loan off well ahead of schedule! Instructions: Enter your loan's principal balance, monthly payment amount and annual interest rate and then click on the "Compute" button. Note: When entering information into the data fields only use numbers and applicable decimal points. Entering commas, dollar signs, or any other non-numeric characters will cause an error.

Enter the principal balance of your loan:	(ex. 100000)
Enter the amount of your monthly loan payment:	(ex. 700.50)
Enter your loan's current interest rate:	(ex. 7.5 )

Total interest you will pay under your current monthly payment plan:
Months to pay off your loan under your current monthly payment plan:
Total interest you will pay using a bi-weekly payment plan:
Months to pay off your loan with a bi-weekly payment plan:
Bi-weekly Payment Interest Savings:
Bi-weekly Payment Time Savings (# of Months):

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