In the past few years, it’s become difficult for me to find developers who continue to release quality apps that I will purchase without hesitation. Luckily Optimal Payment Debt Calculator Android app developed by Elias Lorette developer who releases top notch apps, and I must admit that they’re rather beneficial.
I grew up using all kinds of Android apps, so I have a soft spot for them. When Optimal Payment Debt Calculator released, I knew it was something special. Then I added that to my collection. And now after using this app it is possibly my new favorite.
We all know that loans are set up to maximize the amount of interest paid. Optimal Payment Debt Calculator Android app is actually 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 main purpose of the calculator is to actively 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 relatively adding payments to the principal.
Moreover the initial, 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 actual percentage rate of interest you would pay on the debt.
With this, the users could adjust their monthly payment to achieve an optimal result. For instance, 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 noted that $457 for 14 months, given a loan rate of 8%.
The users could also put in different payment amounts, until they search a payment that yields an interest rate that seems reasonable to you. With this app you could view how much money that can be saved if you pay down the balance immediately with. In simple words, you would get a 72% return on your $3000.
In addition by using the debt calculator, the users could actually 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.
While it feels like I’ve gone through pretty much all kinds of apps on the Play Store, I’m always on the lookout for new ones. When I saw that Optimal Payment Debt Calculator was available and from the makers of Elias Lorette, I was excited to give it a try.
This means that there is actually much special reason to go back and try different times, particularly if users are passionate with this app. If you want a unique app, then go for this app, which only reward you with more satisfaction and best results.