Tutorial 1: Calculate # of Payments Left on a Loan

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Tutorial 1: Calculate # of Payments Left on a Loan

Enter the numbers in the boxes below (do not enter a number in the box next to “Compute”).

Try with different numbers and see how the answer changes.

Example 1: $39,412.95 remaining balance, 10% p.a. interest, 12 payments per year, payments are $859.68 per month.

How many payments are left? Answer = 59. As follows.