Loan Repayment Plan Comparison Calculator

ANA›Life Services Authority›National Calculator Authority›Loan Repayment Plan Comparison Calculator

.calc-container { max-width: 640px; margin: 2rem 0; padding: 1.5rem; background: #fff; border: 1px solid #ddd; border-radius: 8px; box-shadow: 0 1px 3px rgba(0,0,0,0.06); font-family: system-ui, -apple-system, sans-serif; } .calc-container h3 { font-family: Georgia, serif; font-size: 1.15rem; color: #1a1a1a; margin-bottom: 1rem; padding-bottom: 0.5rem; border-bottom: 2px solid var(--ac, #3d5a80); } .calc-row { display: flex; align-items: center; gap: 0.75rem; margin-bottom: 0.75rem; flex-wrap: wrap; } .calc-row label { min-width: 160px; font-size: 0.9rem; color: #333; font-weight: 500; } .calc-row input[type="number"], .calc-row select { flex: 1; min-width: 120px; max-width: 200px; padding: 0.5rem 0.6rem; border: 1px solid #ccc; border-radius: 4px; font-size: 0.9rem; font-family: system-ui, sans-serif; color: #1a1a1a; background: #fafaf8; } .calc-row input:focus, .calc-row select:focus { outline: none; border-color: var(--ac, #3d5a80); box-shadow: 0 0 0 2px rgba(26,74,138,0.12); } .calc-row .unit { font-size: 0.82rem; color: #888; min-width: 30px; } .calc-btn { display: inline-block; margin-top: 0.5rem; padding: 0.55rem 1.5rem; background: var(--ac, #3d5a80); color: #fff; border: none; border-radius: 4px; font-size: 0.9rem; font-weight: 600; cursor: pointer; font-family: system-ui, sans-serif; } .calc-btn:hover { opacity: 0.9; } .calc-result { margin-top: 1.25rem; padding: 1rem 1.25rem; background: #f0f6fc; border-left: 3px solid var(--ac, #3d5a80); border-radius: 0 6px 6px 0; display: none; } .calc-result.visible { display: block; } .calc-result-label { font-size: 0.78rem; text-transform: uppercase; letter-spacing: 0.06em; color: #666; margin-bottom: 0.25rem; } .calc-result-value { font-size: 1.6rem; font-weight: 700; color: var(--ac, #3d5a80); } .calc-result-detail { font-size: 0.85rem; color: #555; margin-top: 0.5rem; line-height: 1.5; } .calc-note { margin-top: 1rem; font-size: 0.8rem; color: #888; font-style: italic; } .calc-grid { display: grid; grid-template-columns: 1fr 1fr; gap: 0.75rem; margin-top: 0.75rem; } .calc-grid-item { padding: 0.6rem 0.8rem; background: #f8f9fa; border-radius: 4px; border: 1px solid #eee; } .calc-grid-item .label { font-size: 0.75rem; color: #888; text-transform: uppercase; letter-spacing: 0.04em; } .calc-grid-item .value { font-size: 1.1rem; font-weight: 600; color: #1a1a1a; } @media (max-width: 720px) { .calc-row { flex-direction: column; align-items: flex-start; gap: 0.3rem; } .calc-row label { min-width: auto; } .calc-row input[type="number"], .calc-row select { max-width: 100%; width: 100%; } .calc-grid { grid-template-columns: 1fr; } } .calc-chart { margin: 1rem 0; text-align: center; } .calc-chart svg { max-width: 100%; height: auto; } .calc-chart-legend { display: flex; flex-wrap: wrap; justify-content: center; gap: 0.6rem 1.2rem; margin-top: 0.6rem; font-size: 0.8rem; color: #555; } .calc-chart-legend span { display: inline-flex; align-items: center; gap: 0.3rem; } .calc-chart-legend i { display: inline-block; width: 10px; height: 10px; border-radius: 2px; font-style: normal; } .calc-related { max-width: 640px; margin: 2rem 0 1rem; padding: 1.25rem 1.5rem; background: #f8f9fa; border: 1px solid #e8e8e8; border-radius: 8px; } .calc-related h3 { font-family: Georgia, serif; font-size: 1rem; color: #1a1a1a; margin: 0 0 0.75rem; padding-bottom: 0.4rem; border-bottom: 2px solid var(--ac, #3d5a80); } .calc-related-list { list-style: none; padding: 0; margin: 0 0 0.75rem; display: grid; grid-template-columns: 1fr 1fr; gap: 0.4rem 1.5rem; } .calc-related-list li a { font-size: 0.88rem; color: var(--ac, #3d5a80); text-decoration: none; } .calc-related-list li a:hover { text-decoration: underline; } .calc-browse-all { margin: 0.5rem 0 0; font-size: 0.9rem; font-weight: 600; } .calc-browse-all a { color: var(--ac, #3d5a80); text-decoration: none; } .calc-browse-all a:hover { text-decoration: underline; } @media (max-width: 720px) { .calc-related-list { grid-template-columns: 1fr; } }

Loan Repayment Plan Comparison Calculator

Compare standard, graduated, and accelerated loan repayment plans to see total interest paid, monthly payments, and payoff timelines side by side.

Loan Principal ($)

Annual Interest Rate (%)

Loan Term (Years)

Extra Monthly Payment for Accelerated Plan ($)

Graduated Plan Annual Payment Increase (%)

Compare Plans

function loaCalc() { var principal = parseFloat(document.getElementById('loa-principal').value); var annualRate = parseFloat(document.getElementById('loa-rate').value); var termYears = parseFloat(document.getElementById('loa-term').value); var extraPayment = parseFloat(document.getElementById('loa-extra').value) || 0; var gradIncrease = parseFloat(document.getElementById('loa-grad-rate').value);

var errors = []; if (isNaN(principal) || principal 50) errors.push("Annual interest rate must be between 0.01% and 50%."); if (isNaN(termYears) || termYears 50) errors.push("Loan term must be between 1 and 50 years."); if (extraPayment 30) errors.push("Graduated increase rate must be between 0.1% and 30%.");

if (errors.length > 0) { document.getElementById('loa-result').innerHTML = '' + errors.join('') + '

'; return; }

var monthlyRate = annualRate / 100 / 12; var totalMonths = termYears * 12;

// ── Plan 1: Standard Fixed Payment ────────────────────────────────────────── // M = P * [r(1+r)^n] / [(1+r)^n - 1] var stdPayment, stdTotalPaid, stdTotalInterest; if (monthlyRate === 0) { stdPayment = principal / totalMonths; } else { var factor = Math.pow(1 + monthlyRate, totalMonths); stdPayment = principal * (monthlyRate * factor) / (factor - 1); } stdTotalPaid = stdPayment * totalMonths; stdTotalInterest = stdTotalPaid - principal;

// ── Plan 2: Graduated Payment ──────────────────────────────────────────────── // Payments increase every 2 years by gradIncrease%. // Initial payment P0 found by simulating amortization so balance = 0 at end. // This calculator uses bisection to find P0. function simulateGraduated(initPayment) { var balance = principal; var payment = initPayment; var totalPaid = 0; var months = 0; for (var yr = 0; yr 0) lo = mid; else hi = mid; if (Math.abs(hi - lo) 0.005 && accMonths Years ' + gradSchedule[i].year + '–' + endYr + '' + fmt(gradSchedule[i].payment) + '/mo'; }

var html = '### Loan Repayment Plan Comparison '; html += 'Loan: ' + fmt(principal) + ' at ' + fmtN(annualRate) + '% for ' + termYears + ' years

';

html += ''; html += ''; html += 'Metric'; html += 'Standard'; html += 'Graduated'; html += 'Accelerated'; html += '';

var rows = [ ['Monthly Payment (Initial)', fmt(stdPayment), fmt(gradInitPayment), fmt(accMonthlyPayment)], ['Total Months', totalMonths, accMonths '; for (var c = 0; c ' + rows[r][c] + ''; } html += ''; } html += '';

// Graduated schedule detail html += '#### Graduated Payment Schedule '; html += ''; html += 'PeriodMonthly Payment'; html += gradSchedRows; html += '';

// Recommendation var bestPlan = 'Standard'; var bestInterest = stdTotalInterest; if (gradTotalInterest '; html += 'Recommendation: The ' + bestPlan + ' plan minimizes total interest paid (' + fmt(bestInterest) + '). '; if (bestPlan === 'Accelerated') { html += 'By paying an extra ' + fmt(extraPayment) + '/month you save ' + fmt(accInterestSaved) + ' and pay off the loan ' + accTimeSaved + ' months early.'; } else if (bestPlan === 'Graduated') { html += 'Starting with lower payments that increase over time suits borrowers expecting income growth.'; } else { html += 'Fixed equal payments provide predictability and simplicity.'; } html += '';

document.getElementById('loa-result').innerHTML = html; }

#### Formulas Used

Standard Fixed Monthly Payment: M = P × [r(1+r)n] / [(1+r)n − 1] where P = principal, r = monthly interest rate (annual rate / 12), n = total months

Total Interest Paid: Total Interest = (M × n) − P

Graduated Plan: Initial payment P0 is solved numerically (bisection) so that the amortizing balance reaches zero at term end, with payments increasing by the specified percentage every 2 years.

Accelerated Plan: Monthly payment = Standard M + Extra Payment. Balance is amortized month-by-month until fully paid. Payoff month is when balance ≤ $0.01.

Monthly Amortization Step: Balancet+1 = Balancet × (1 + r) − Paymentt

#### Assumptions & References

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References

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