Should I Pay My Loan Early If I Get a Discount.xlsx
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1
Hypothetical Situation 1
2
Year
Interest %
Earnings
PV Earnings
Payment
PV Payment
Cash
3
LoanPeriodInterestTotal InterestTotal Loan
Yearly Payment
0 $ 16,000.00
4
20000100%020000200013.6% $ 576.00 $ 555.98 $ (2,000.00) $ (1,930.50) $ 14,576.00
5
23.6% $ 524.74 $ 488.90 $ (2,000.00) $ (1,863.42) $ 13,100.74
6
Discouted 20%
1600033.6% $ 471.63 $ 424.15 $ (2,000.00) $ (1,798.67) $ 11,572.36
7
43.6% $ 416.61 $ 361.65 $ (2,000.00) $ (1,736.16) $ 9,988.97
8
53.6% $ 359.60 $ 301.32 $ (2,000.00) $ (1,675.83) $ 8,348.57
9
63.6% $ 300.55 $ 243.08 $ (2,000.00) $ (1,617.60) $ 6,649.12
10
73.6% $ 239.37 $ 186.87 $ (2,000.00) $ (1,561.39) $ 4,888.49
11
83.6% $ 175.99 $ 132.62 $ (2,000.00) $ (1,507.13) $ 3,064.47
12
93.6% $ 110.32 $ 80.25 $ (2,000.00) $ (1,454.76) $ 1,174.79
13
103.6% $ 42.29 $ 29.69 $ (2,000.00) $ (1,404.21) $ (782.91)
14
$ 3,217.09 $ 2,804.51 $ (20,000.00) $ (16,549.69)
Totals
15
16
Hypothetical Situation 2
17
Year
Interest %
Earnings
PV Earnings
Payment
PV Payment
Cash
18
LoanPeriodInterestTotal InterestTotal Loan
Yearly Payment
0 $ 32,000.00
19
40000151%6000460003066.66666713.6% $ 1,152.00 $ 1,111.97 $ (3,066.67) $ (2,960.11) $ 30,085.33
20
23.6% $ 1,083.07 $ 1,009.11 $ (3,066.67) $ (2,857.25) $ 28,101.73
21
Discouted 20%
3200033.6% $ 1,011.66 $ 909.82 $ (3,066.67) $ (2,757.96) $ 26,046.72
22
43.6% $ 937.68 $ 813.99 $ (3,066.67) $ (2,662.12) $ 23,917.74
23
53.6% $ 861.04 $ 721.48 $ (3,066.67) $ (2,569.62) $ 21,712.10
24
63.6% $ 781.64 $ 632.19 $ (3,066.67) $ (2,480.32) $ 19,427.07
25
73.6% $ 699.37 $ 546.00 $ (3,066.67) $ (2,394.14) $ 17,059.78
26
83.6% $ 614.15 $ 462.80 $ (3,066.67) $ (2,310.94) $ 14,607.26
27
93.6% $ 525.86 $ 382.50 $ (3,066.67) $ (2,230.64) $ 12,066.45
28
103.6% $ 434.39 $ 304.99 $ (3,066.67) $ (2,153.13) $ 9,434.17
29
113.6% $ 339.63 $ 230.17 $ (3,066.67) $ (2,078.31) $ 6,707.13
30
123.6% $ 241.46 $ 157.95 $ (3,066.67) $ (2,006.09) $ 3,881.92
31
133.6% $ 139.75 $ 88.24 $ (3,066.67) $ (1,936.38) $ 955.00
32
143.6% $ 34.38 $ 20.95 $ (3,066.67) $ (1,869.09) $ (2,077.29)
33
153.6% $ - $ (3,066.67) $ (1,804.14) $ (5,143.96)
34
$ 8,856.09 $ 7,392.16 $ (46,000.05) $ (35,070.22)
Totals
35
36
Hypothetical Situation 3
37
Year
Interest %
Earnings
PV Earnings
Payment
PV Payment
Cash
38
LoanPeriodInterestTotal InterestTotal Loan
Yearly Payment
0 $ 48,000.00
39
60000201%1200072000360013.6% $ 1,728.00 $ 1,667.95 $ (3,600.00) $ (3,474.90) $ 46,128.00
40
23.6% $ 1,660.61 $ 1,547.20 $ (3,600.00) $ (3,354.15) $ 44,188.61
41
Discouted 20%
4800033.6% $ 1,590.79 $ 1,430.65 $ (3,600.00) $ (3,237.60) $ 42,179.40
42
43.6% $ 1,518.46 $ 1,318.15 $ (3,600.00) $ (3,125.10) $ 40,097.86
43
53.6% $ 1,443.52 $ 1,209.55 $ (3,600.00) $ (3,016.50) $ 37,941.38
44
63.6% $ 1,365.89 $ 1,104.73 $ (3,600.00) $ (2,911.68) $ 35,707.27
45
73.6% $ 1,285.46 $ 1,003.55 $ (3,600.00) $ (2,810.50) $ 33,392.73
46
83.6% $ 1,202.14 $ 905.89 $ (3,600.00) $ (2,712.84) $ 30,994.87
47
93.6% $ 1,115.82 $ 811.62 $ (3,600.00) $ (2,618.57) $ 28,510.68
48
103.6% $ 1,026.38 $ 720.63 $ (3,600.00) $ (2,527.58) $ 25,937.07
49
113.6% $ 933.73 $ 632.80 $ (3,600.00) $ (2,439.75) $ 23,270.80
50
123.6% $ 837.75 $ 548.02 $ (3,600.00) $ (2,354.97) $ 20,508.55
51
133.6% $ 738.31 $ 466.19 $ (3,600.00) $ (2,273.14) $ 17,646.86
52
143.6% $ 635.29 $ 387.20 $ (3,600.00) $ (2,194.15) $ 14,682.15
53
153.6% $ 528.56 $ 310.95 $ (3,600.00) $ (2,117.90) $ 11,610.70
54
163.6% $ 417.99 $ 237.36 $ (3,600.00) $ (2,044.31) $ 8,428.69
55
173.6% $ 303.43 $ 166.32 $ (3,600.00) $ (1,973.27) $ 5,132.12
56
183.6% $ 184.76 $ 97.75 $ (3,600.00) $ (1,904.70) $ 1,716.88
57
193.6% $ 61.81 $ 31.57 $ (3,600.00) $ (1,838.51) $ (1,821.31)
58
203.6% $ - $ (3,600.00) $ (1,774.63) $ (5,421.31)
59
$ 18,578.69 $ 14,598.10 $ (72,000.00) $ (50,704.77)
Totals
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