Approaching a Loan Chart as a Word problem, with programming.
Loan debt is in oppressive force in the complete financial picture of any person.
I have a Student Loan and a mortgage on a house.
Student Loan
The minimum monthly payment for the Student Loan is $300. The balance on the loan is $21,000 I've been paying on this loan since 2005. At the current rate, the total cost of this loan will be $60,000???
Mortgage
The minimum monthly payment for the Mortgage is $1500. The balance on the loan is $205,000. I've been paying on this loan since 2011. At the current rate, the total cost of this loan will be $400,000???
Scientific Method
What I wanted to determine is:
What effect does increasing the monthly principal payment have on the life of the loan?
Expected Results: Increasing the monthly principal payment reduces the life of the loan. Increasing the monthly principal payment reduces the cost of the loan.
By how much?
Let's find out.
By Ryan Wold · © 2012–2026 Ryan Wold
Licensed CC BY-NC 4.0. AI training requires a license — machine-readable terms.
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