If you decide that you need to take out a loan for your special purchase, you can use the Loan Calculator to determine how large a loan you can afford. Use it to answer questions such as: "If I take out a loan for 10,000 dollars at a 7.5 percent rate of interest for 36 months, what will my monthly payment be?"

## To calculate loan amounts

- Click the
**Planning**tab. - Choose
**Planning****Tools**>**Loan****Calculator**. - In the
**Calculate****For****Loan****Calculator****Loan****Amount**. - In the
**Loan****Information****Loan****Calculator** - Click
**Calculate**after entering the last value. Quicken calculates the loan amount and displays it at the top of the Loan Information dialog. - To see a payment schedule for the loan, click
**Schedule**. The schedule shows how much of each payment is principal, how much is interest, and what your loan balance is after each payment.

#### Notes

Not all loans run for a full year. You may have a loan for 18 months (1.5 years). To calculate loans in six-month periods, type 6 for **Periods per Year.** For **Number of Years**, enter the number of six-month periods your loan runs.

## Example: Calculate loan amounts for a six-month loan

- Click the
**Planning**tab. - Choose
**Planning****Tools**>**Loan****Calculator**. - Fill in the
**Loan****Calculator**- Enter the amount of the loan.
- Enter half the interest rate in the Annual Interest Rate field.
- Type 1 Number of Years for a six-month loan.
- Type 6 Periods per Year.

- Click
**Schedule**to see the payments.

## To calculate loan payments

- Click the
**Planning**tab. - Choose
**Planning****Tools**>**Loan****Calculator**. - In the
**Calculate****For****Loan****Payment****Payment****Per****Period**. - In the
**Loan****Information****Loan****Payment** - Press
**TAB**after entering the last value. Quicken calculates the amount and displays the**Payment Per Period**amount. - To see a payment schedule for the loan, click
**Schedule**. The schedule shows how much of each payment is principal, how much is interest, and what your loan balance is after each payment.

## To calculate loan payments if you prepay a loan

- Click the
**Planning**tab. - Choose
**Planning Tools**>**Loan Calculator**. - Click
**Schedule**. - Select
**Payment Per Period.** - Enter information about the loan.
- Press
**TAB**after entering the last value. - Scan down the Interest column until you find the interest amount that most closely matches the interest due on your next payment.
- Subtract that payment number from the number of the last payment to get the number of payments left.
- Divide by 12 (Periods Per Year) to get the number of years remaining.

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