I am not doing anything so I put your numbers in Quicken and this is what I came out with guessing on 5 years.
Loan 1 I put in 12867.83 at 7.7 for 5 years and it came up with 259.07 So that is a little less then you are paying now and the first months interest came up as 82.57
Loan 1 I put in 12867.83 at 5.6 for 5 years and it came up with 246.38 First months interest came up at 60.05
Loan 2 I put in 16,523.06 at 5.5 for 5 years and it came up with 315.00 First months interest came up at 75.73
Loan 3 put in 12614.26 at 5.5 for 5 years and it came up with 240.00 First months interest came up at 57.82
Interest goes down about a 1.00 or 2 on all the loans each month but that is with the payments staying the same for the 5 years.
Hope this helps.
Now of course if these are credit cards that is a totally different story.
Let me know my email is kimbler@bellsouth.net and I will run them again on Quicken for you.
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Hi Jax,
You failed to mention the duration of the loans.
give me the years and I will do it for you.
Mary ann
Loan number 1 has 47 months left on it, loan 2 & 3 have 48 months left on them.
Thank you!
Jax
Thank you!
I am not doing anything so I put your numbers in Quicken and this is what I came out with guessing on 5 years.
Loan 1 I put in 12867.83 at 7.7 for 5 years and it came up with 259.07 So that is a little less then you are paying now and the first months interest came up as 82.57
Loan 1 I put in 12867.83 at 5.6 for 5 years and it came up with 246.38 First months interest came up at 60.05
Loan 2 I put in 16,523.06 at 5.5 for 5 years and it came up with 315.00 First months interest came up at 75.73
Loan 3 put in 12614.26 at 5.5 for 5 years and it came up with 240.00 First months interest came up at 57.82
Interest goes down about a 1.00 or 2 on all the loans each month but that is with the payments staying the same for the 5 years.
Hope this helps.
Now of course if these are credit cards that is a totally different story.
Let me know my email is kimbler@bellsouth.net and I will run them again on Quicken for you.
Mary Ann
this is what Quicken said ok
I put them all in for 4 years.
Loan 1 299.85 First months interest is 60.05
Loan 2 384.27 First months interest is 75.73
Loan 3 293.36 First months interest is 57,82
I am sorry it didn't come out different for you but that is what Quicken is saying.
That's what is confusing to me!
Hi Jax,
The problem you have is with the ORIGINATION date of this loan.
Hi Again Jax,
I wanted to make sure I was clear in my last post.
Just wanted to piggy back with the type of loan.
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