Simple Interest Versus Amortized Loan Comparison
Simple Interest Versus Amortized Loan Comparison: a planned Super Calculator tool. Stub page: the tool, its formula and a worked example are not published yet.
Simple Interest Versus Amortized Loan Comparison is a planned calculator in the finance section of Super Calculator, covering other lending.
What this calculator will compute
Inputs: loan amount (currency), rate (%), term (months), interest method, payment dates and early payoff month.
Outputs: total interest per method (currency), payoff amount per method (currency), cost of paying late (currency) and rebate on early payoff (currency).
Formula, recorded as scope and not yet verified against a primary source: Simple interest accrues daily on the outstanding principal, so payment timing changes total cost. Precomputed interest fixes the finance charge at origination and refunds unearned interest on early payoff under a stated rebate method, commonly actuarial or Rule of 78s where still permitted.
Status
This page is a stub. The calculator is not built, no figure on this page has been verified against the authority that sets it, and nothing here should be used to make a decision. The page exists so that the site structure is complete and so that articles can link this concept on first mention.
The stub carries noindex, nofollow and is excluded from the sitemap.