Debt Repayment Calculator

Is your feature request related to a problem? Please describe.

A Debt Repayment Calculator is a valuable tool that helps users create a plan to pay off their debts, such as credit cards, personal loans, or student loans. It provides a clear understanding of how long it will take to pay off the debt, the total interest paid, and how different payment strategies can affect the repayment timeline.

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Input Fields:

Loan Amount: The total amount of the debt. Interest Rate: The annual interest rate on the debt. Monthly Payment: The amount the user plans to pay each month. Minimum Payment: The minimum amount required to be paid each month (especially for credit cards). Additional Payment: Any extra amount the user can contribute monthly towards the debt. Output:

Payoff Time: The time required to pay off the debt completely. Total Interest Paid: The total interest cost over the life of the loan. Amortization Schedule: A detailed table showing the breakdown of each payment, including the principal, interest, and remaining balance.

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ayush-that / FinVeda