Alternative Payment Frequencies
Use this calculator to determine your payment or loan amount for different payment frequencies.
You can make payments weekly, bi-weekly, semi-monthly, monthly, bi-monthly, quarterly, semi-annually or annually.
You can then examine your principal balances by payment, total of all payments made, and total interest paid.
Definitions
- Payment
- Payment for this loan.
- Interest rate
- Annual interest rate for this loan. Interest is calculated per period on the current outstanding balance of your loan at the annual rate divided by the number of annual periods.
- Payment
- The type of payment for this loan. The options are weekly (52 payments per year), bi-weekly (26 payments per year), semi-monthly (24 payments per year), monthly (12 payments per year), bi-monthly (6 payments per year), quarterly (4 payments per year), semi-annual (2 payments per year), and annually (1 payment per year).
- Number of payments
- Number of periods for this loan. This is the total number of scheduled payments for the loan.
- Loan amount
- Total beginning loan balance.
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These interactive calculators are not intended to provide or replace specific professional financial advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical, are for illustrative purposes only, and may differ from more in depth analysis results. They do not represent the past performance of any specific product, nor should they be viewed as a promise of future results of any product offered by Thrivent Financial for Lutherans or its affiliates. We encourage you to seek personalized analysis regarding all personal finance issues.
