/biz/ - Business & Finance

back when I was poor I used maths to calculate exactly how long it would take to pay off all my loans so I could save as much money as possible avoiding interest on the bad ones.

just found my old mathematica workbook and am willing to graph out the numbers for some of you if I still remember how. I'm not being generous, just brushing up on my maths skills for work. there's 3 loans displayed here:
>the curved lines are the payment amount with the number of months it'll take to pay off,
>the diagonals is the amount of interest you'll pay over the given number of months

if you want a graph of your loans I need the following
>1) loan balance
>2) exact interest rate
>3) your current payment amt on the loan (to show exactly how long it'll take to pay off @ current payment - they had me at 15 years)

balances and payment amounts across multiple loans that have the same rate can be combined for simplicity. I was able to do 50k in about 4-5 years with minimal interest.