TiffanyRichards

Car Loan Analysis

Principal $26,000 20Sep17
Rate 8.00%
Years 5 Payment 527.19 permonth

Beginning Ending
Year Balance Balance TotalPaid Interest
1 26,000.00 21,594.56 6,326.24 41,268.32
2 21,594.56 16,823.47 6,326.24 11,097.33
3 16,823.47 11,656.37 6,326.24 11,493.33
4 11,656.37 6,060.42 6,326.24 11,922.19
5 6,060.42 0.00 6,326.24 12,386.65
31,631.18 5,631.18

The Effect of Various Interest Rates

Rate TotalPaid TotalInterest
31,631.18 5,631.18
2.0%
4.0%
6.0%
8.0%
10.0%
12.0%
14.0%