|IFS Consulting Group LLC|
Will Smith, RR, IAR: 6, 63, 65
1346 Old Bridge Rd Suite 201
Woodbridge, VA 22192
|Debt Payoff Optimization Calculator
|Debt Payoff Optimization Calculator|
Paying off debt early can reduce total interest paid. Also, paying off the debts with the highest interest rates first
may reduce total interest paid. This calculator suggests one way to potentially optimize payment of your debts, by
first making minimum payments required for each debt, and then allocating any remaining dollars to debts with
the highest interest rate(s). This is compared with payments made according to your entries below.
This calculator assumes that no other amounts are borrowed (except for any negative amortization where a
monthly payment is less than the monthly interest) with respect to the debts listed.
This calculator assumes fixed interest rates and minimum payment factors that do not change. The interest
rates and minimum payment factors for some debts can change over time.
This calculator does not take into account the effect of federal or state taxes, or any fees.
Payments are assumed to be due and made at the end of each month. Actual due dates may vary for each debt.
This calculator should be used as a general guide only. Every situation is unique, and this calculator
illustrates just one possible approach to minimizing overall interest paid on your debts. Discuss the
results of this calculator with your financial professional.
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11440 North Jog Road, Palm Beach Gardens, FL 33418 Phone: 561.472.2000
Copyright 2018 Money Concepts International Inc.
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May Lose Value - No Bank or Credit Union Guarantee
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