Loan Interest and Term
by Anonymous
Stretch the loan term to see the trade-off between the monthly payment and total interest, and find when the debt is actually cut in half.
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About this app
Loan Interest and Term is an educational interactive model that shows how extending a repayment period changes monthly payments and total interest. Adjust the borrowed amount, monthly interest rate, and number of months with plus and minus controls, then explore how the debt balance changes over time. Three learning views compare monthly payments, total interest, and the changing split between principal and interest, including the month when the debt reaches half its original amount.
Use cases
- Learners exploring basic loan and interest concepts
- Teachers demonstrating amortization and repayment trade-offs
- Adults comparing shorter and longer repayment periods
- Financial education activities about principal versus interest
Features
- Interactive controls for loan amount, monthly interest, and repayment term
- Monthly payment and total repayment calculations
- Comparison of total interest across different terms
- Monthly breakdown of principal and interest portions
- Indicator for when the remaining debt reaches half the original amount
- Guided challenges with feedback and reset or next controls