Comparison between loan repayemnts
$8-15 AUD / ώρα
i have $95,000 owing on a loan at 6.78% pa variable interest, but with $70,000 available cash back (due to payments in advance). This loan is for 25 years, expiring October 2044. I also have $781,000 owning on a different loan at 6.12% pa variable interest, a 30 year loan expiring September 2052. Both have interest accruing monthly, and monthly payments (although the smaller loan I have not paid back in some time due to payments in advance).
I believe I can save some interest by cashing out payments in advance on the smaller loan, and using this to pay down the larger. However the higher interest rate is obviously the catch. I want a comparison showing how much cash available I should use to pay down the larger loan - ideally a side-by-side table, perhaps in $5k increments, showing this in terms of overall interest expense saved. Assume otherwise standard/base repayments for the duration of the loans.
Note I'd expect a .5% increase in interest across both loans in the near future, however I'm not sure that's materially worth factoring into the calculations?
I'd like an Excel (or Google) spreadsheet returned with workings/formulas so I can understand the workings.
Ταυτότητα Εργασίας: #36795323
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Top 1% in Freelancer.com Hi, Greetings! ✅checked your project details: ✅Completed Time: In project deadline We have worked on 900 + Projects. I have 6 + years of the experience in same kind of projects. If you are look Περισσότερα
Hi! We are a professional accounting firm having Nine years-long exposure in the accounting field. Our team also includes professionals with high-end qualifications like Chartered Accountancy. We handle clients for al Περισσότερα
Hello DanBScott, I have read your project description and I am confident that I can help you with your loan repayment comparison. With over 7 years of experience in accounting and finance, I have helped numerous clien Περισσότερα
I am an Australian investment banker based in HK for several decades. I have raised nearly US$500 millions over the course of my very international career from start ups (low 100'sK) to much larger sums for substantial Περισσότερα
I understand you are looking for a comparison between the loan repayments, and how much cash available should be used to pay down the larger loan - ideally a side-by-side table showing this in terms of overall interest Περισσότερα
My name is Yash and I am a chartered accountant dedicated to helping small businesses reach their highest potential by providing virtual accounting and financial advisory services. I specialize in helping startups navi Περισσότερα
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Hello, I am a chartered Accountant having 16 years of experiance in banking and IT industry. I would be able to provide you and insight into your question. Looking forward to listen back from you. Thanks CA Amit M Περισσότερα
I can complete this project with complete accuracy in the give time period. I had a command over this project and can easily done the entire task efficiently. I can complete this project with complete accuracy in the g Περισσότερα
Hello. My name is khushal mohurle and I am from india. I have been working as a Data Entry and Data Extracting Expert for more than 1 years now. In my previous working years, I have finished many successful projects wi Περισσότερα
Hi, I am Shuhan, a CPA, CPA(WA) and CIA. I worked in Big 4 and have experience in providing all kinds of financial services (audit, NTR, tax filing and tax planing, CRA correspondence) to individuals and companies. I a Περισσότερα
I understand that you have two loans, let's say A & B which are the only fixed element in your calculation and the rest all are variables: Interest rate (this is fixed till there's a change in lending rates) Monthly i Περισσότερα
i have 4 years experience as auditor in financial services industry. you can save your time for explaining finance term especially in financing industry. i believe my background is suited for your project. Dont hestita Περισσότερα
