One-Off Lump-Sum Payments: Shorter Loan or Lower Payment
This lesson is part of the course
In this lesson
You drop a $3,000 bonus into Leo's 48-month loan in month 12 with an IF in the schedule, then compare keeping the payment (paid off early) with re-amortising (lower payment).
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Lessons in this course
- PMT Basics & the Sign Convention Locked
- Build a Full Amortization Schedule Locked
- IPMT, PPMT, CUMIPMT & CUMPRINC: Any Month, Any Year Locked
- Extra Monthly Payments: Months & Interest Saved Locked
- One-Off Lump-Sum Payments: Shorter Loan or Lower Payment Locked
- Balloon Payment Loans: PMT with fv Locked
- Interest-Only Then Amortising: The Payment Jump Locked
- Comparing Loans: APR with Fees, Total Cost & Balance Curves (Chart) Locked