Are you searching for a great app that will assist in effectively manage your financial business? Do you need to work on reducing your interest charges intelligently using an app? If you need an app adding payments to the principal, then this Optimal Payment Debt Calculator Android App by Elias Lorette has all the answers to your questions.
There are many Android apps for managing business that is available on the market, which makes it hard to choose the best from the rest. Optimal Payment Debt Calculator is an app that makes it easy for users to manage and minimizing the amount of interest.
Why Should You Choose Optimal Payment Debt Calculator Android App?
It is more often loans are set up to maximize the amount of interest paid, Optimal Payment Debt Calculator is meant for those of people who have car loan, credit card debt, a student loan, or a house mortgage debt to pay off, and who like to minimize the amount of interest they have to pay.
The vital purpose of the calculator is to determine which several payment amounts would permit you to reduce your interest charges as much as possible by changing the amount of the monthly payment or adding payments to the principal.
Among presence of other major aspects the lender presented calculation permits you to view how long it would take you to repay the debt; how much interest you would pay, and the percentage rate of interest you would actually pay on the debt.
By utilizing this app they could adjust their monthly payment to achieve an optimal result. In case if users like to pay no more than $300 dollars interest on a 6000 dollar loan (5%), they could plug in the figures and calculate the amount you require to pay every month, until you reach a 5% result. It is conveyed that $457 for 14 months, given a loan rate of 8%.
It is noted that the users could also put in numerous payment amounts, until they find a payment that yields an interest rate which seems reasonable to you. The users with this app could effectively view how much money that can be saved if you pay down the balance immediately with. In other words, you would get a 72% return on your $3000.
When users using this debt calculator, they could determine that if they double the payment you are making, and direct that ½ of the payment goes directly to the principal, that users could save thousands of dollars, substantially lowering your actual interest rate.
Many experts enumerate most of the users could view lot of methods, strategies, and Android apps that could be used to track your debts. Other than that this app would provide you a better starting point, so users could start their journey in qualitative manner. From my experience using the Optimal Payment Debt Calculator Android app, I can suggest it to anyone who wishes to reduce your interest charges. It is one of the best apps that are available on the market today.