Are you a great fan of Financial Android apps? If you are, then so are we!! Here we are talking about one such great Android app namely Optimal Payment Debt Calculator Android developed by Elias Lorette. It is a classic app on the android platform. The craze for this app is highly growing among people.
Among man interesting apps available on play store this app is loved and utilized by many people, it has also gained a lot of followers. If you feel you’re missing a bit of quality financial app then we have the perfect solution for you; it’s called Optimal Payment Debt Calculator and its available now on the Play Store!
Loans are actually set up to maximize the amount of interest paid, Optimal Payment Debt Calculator is primarily 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 wish to minimize the amount of interest they have to pay.
The good purpose of the calculator is to determine which numerous payment amounts would allow 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 many other key aspects the lender presented calculation allows 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.
Doing regularly using this familiar app the users could adjust their monthly payment to achieve an optimal result. In situations, 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%.
More interestingly the users could also put in several payment amounts, until they search a payment that yields an interest rate which seems reasonable to you. The zeal users with this app could view how much money that can be saved if you pay down the balance immediately with. In precise terms, you would get a 72% return on your $3000.
In using this debt calculator, the users 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.
In today’s technological world, finance is an essential factor that you cannot dismiss out of hand. Of course, the act of finance in business can be inherently counterproductive. Most of the users could view lot of methods, strategies, and Android apps that could be effectively utilized to track your debts. Eventually this app would offer you a better starting point, so users could cherish their journey toward debt freedom. Thus it is wholly appreciated from all corners and benefitted by the users.